Are altcoins useless?

[olabiyijummy02]

The bulk of altcoins currently trading on the coinmarket quite frankly are useless because they do not have any useful use case. The projects they represent are either dead or are way off track as regards the plans on their roadmap. So it is advisable to not just invest in any ICO for the sake of it. Buy only into proven projects with valuable coins.

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[Nasonn]

I would a great amount of them are totally useless and it saddens me seeing new ICOs and IEOs still going on. The entire market is saturated with coins that offer no real utility and more are being added.

[sebastianluv]

Investing in altcoins have earned me most of my current money. For they grow the fastest and you can increase your capital several times. The main thing is not to risk much and invest in reliable altcoins. For example, in the Altcoins from the top 50 list.

[Abiky]

The idea of altcoin is to serve other purposes that bitcoin cant handle. Some altcoin are doing well with the products and teams that understand the space. The important thing about any coin is how it could drive volumes by traders, cause investors want to make money and traders want do business with coin that earns profit also.

Exactly. But even so, there are some altcoins which are junk (or not useful at all). Most developers tend to copy code from other cryptocurrencies, in order to create a fork that's exactly the same as the original cryptocurrency (with no further improvements or innovation). Which is why, we should be careful when choosing one altcoin from the other by doing our own research. Usually, the top altcoins in market cap are the most popular, yet they're highly active and maintained by their developers.

It's not about trading cryptocurrencies for profit (where some claim them to be useful in this regard), but it's whenever an specific cryptocurrency can become usable for the mainstream world. Innovation and development, is what makes an altcoin shine among the rest in my opinion. An altcoin which delivers speed, cheap transactions, and stability, will be such that will last for a very long time.

As such, if you're on the hunt for useful altcoins, then look no further as Ethereum, EOS, Cardano, and Monero fit the bill nicely. You can use Ethereum, Cardano, and EOS, to interact with the most popular dApps in the world. And if you're inclined towards maximum privacy, then Monero would be the most ideal solution for you. It all depends on the specific needs of a person, whenever he/she wants some features from others. While most altcoins will not last for long, some are needed to help fulfill certain tasks that are not widely possible with Bitcoin.

Nonetheless, without altcoins, Bitcoin's network load would've been much higher than we've thought. Hence, it could be said that they're useful after all. Just my thoughts

[MMA Rats]

Investing in altcoins have earned me most of my current money. For they grow the fastest and you can increase your capital several times. The main thing is not to risk much and invest in reliable altcoins. For example, in the Altcoins from the top 50 list.

Of course, there are useless altcoins, but I fully agree that alto coins grow very well and it is better to choose coins that are in the top

[microbb8]

Altcoins is not a payment system. These are the tokens that the project needs to work. The more popular the project, the more popular the tokens. Otherwise, altcoins are not needed.

[frost_wind]

Investing in altcoins have earned me most of my current money. For they grow the fastest and you can increase your capital several times. The main thing is not to risk much and invest in reliable altcoins. For example, in the Altcoins from the top 50 list.

We all buy altcoins to make money, but I don’t think it would be right to call this a useful application for its intended purpose. Any project becomes useful when it implements its plans and becomes a working business, there are a lot of such companies already operating in crypto market to say that not all altcoins are useless

[Kulitha]

According to me , the sad true is only few alt coins will survive and make their product reality. So to be success investors , people should be more understand those coins. Most of altcoins will death.

[Wend]

Altcoins can't be useless cause there re so many altcoins with good use cases. Altcoins like Ethereum, xlm, xap etc are promising projects which have thrived very well today. There are also a whole lot of worthless altcoins.

We can call them useless its because of so many shitcoins are now coming or we holding for to long. But if we have some altcoins are have potential tro increase the price in a future maybe we cant tell it useless. And those altcoins you mention ill agree with you because they are promising altcoins and top altcoins in a market.

[Almasani]

Now days we have more than 1 000 altcoins on the market. The question is, are people really using them? Frankly speaking only bitcoin, ethereum and monero are used for P2P payments. All others are used mainly for speculation purposes. Is it worth buying altcoins now days? I guess no, because all of them excluding tether are following bitcoin price chart.  I mean if bitcoin is going up or down, altcoins are doing same. (Tether is connected to US dollar rate and used mainly for arbitrage trading purposes) So do we really need altcoins? Regarding platforms, only ethereum is mainly used, and mostly for creating ERC tokens. All others, like waves, neo, etc are used very rarely. Monero is used mosly for shady deals because it is untraceable. (I doubt about that, because one dude who opened a shop on a dark web for selling drugs was cached by police last week. For communication he used 3 level protected VPN and was accepting payments only in monero) https://www.wired.com/story/monero-privacy/ You can read about dark web here. https://www.techadvisor.co.uk/how-to/internet/dark-web-3593569/ days. The main question is: Do we really need altcoins? Or Bitcoin, Ethereum and Monero are enough for crypto comunity this days?

I think the altcoin will function depending on the platform they are developing. Even though they use the ERC20 blockchain, if the platform they develop has an effect on the global, then the altcoin will buy.
Simply put, they created a trading platform or about a hotel. Of course the altcoins they develop can exchange with the platform.
Suppose we book a hotel room to pay using the token. In this case, the price of the token does not depend on the prices of BTC and ETH.

[GGmith]

altcoin is the second alternative to investment tools because of low prices and easily accessible to various groups. so not all altcoins are useless and I'm sure there are still many altcoins that are very feasible for long-term investments such as ETH, EOS, BNB, XRP, etc. That's one of my favorite altcoins now

[X-ray]

According to me , the sad true is only few alt coins will survive and make their product reality. So to be success investors , people should be more understand those coins. Most of altcoins will death.

Majority of altcoins were started without any knowledge and they are only paying the dev that comes from the freelance to work with them all. that's why a lot of altcoins are getting fallen caused by they have no enough knowledge to develop the product.
from 10 altcoins and 3 will survive and the rest will die.

[Redemption59]

Altcoins are honestly not shitcoins or useless as people see it even though it has low pace pumping up. Sometimes it takes time and process to be up there, sometimes you have to walk through the mud before you get to where clear water can be found. Let's give alts the benefit of the doubt to pump soon.

[Andrei_Workout]

There are a lot of projects in observation since the beginning of the fall, and there are projects that have fallen 100 times. And only a few almost did not fall, and they traded slowly, as in the 17th year.

[lohladex]

From my own point of view, i do not think altcoin are useless though we have some altcoins that are not relevance , only instruments of speculation . There are some altcoins who serve better purpose in Crypto Space. Bitcoin , eth and monero are not the only Crypto used as a means of payment . There are some other Altcoins out there that also used as a medium of payment. You will find out about these better altcoins if you do your proper research.

[rich93]

what is below the top 100 can almost certainly be said to be useless. Yes, and in the top 100, too many dark horses.

Those coins that are not in the top 100, they are mostly useless, but there are also working projects, it is best to choose the altcoins that are in the top 100

[Unfunnybtc]

According to me , the sad true is only few alt coins will survive and make their product reality. So to be success investors , people should be more understand those coins. Most of altcoins will death.

The token has nothing to do with the company's product. In most cases, the token is just a subject for speculation.

[Abiky]

Majority of altcoins were started without any knowledge and they are only paying the dev that comes from the freelance to work with them all. that's why a lot of altcoins are getting fallen caused by they have no enough knowledge to develop the product.
from 10 altcoins and 3 will survive and the rest will die.

Exactly. While this is true, there are still some altcoins that are unique from others in terms of development and innovation. Altcoins like NANO and IOTA are quite useful since they make use of a DAG algorithm which proves to be much more efficient than a traditional Blockchain. Other altcoins like Ethereum and Cardano, provide smart contract features expanding Blockchain's capabilities way beyond finance. These altcoins prove to be quite useful for the mainstream world.

However, their success will greatly depend on how many people adopt them within the long term. The lack of adoption from such altcoins, would make them rather useless as they would only be seen as speculative assets than a real currency for daily use. As for forked coins, I don't see any future on them. Most altcoins that are forked or copied from another existing cryptocurrency, tend to lack real innovation and development. They're just copies and nothing unique. Which is why, most altcoins which fit into such criteria, tend to become abandoned by their devs over time, making them useless for the mainstream world.

Nonetheless, a lot of altcoins might die in the end, leaving us with only a few prominent altcoins such as Ethereum, Litecoin, Monero, and Cardano. Just my opinion

[Perfect35]

What do you think has been part of the major factors that has been keeping cryptocurrency going?
The mass adoption that is being constantly preached and that is making it work gradually, is because of the different and many projects that are being lunched almost every time.

[DigitalGemToken]

Well if you have a store of value cryptocurrency that is faster and more energy efficient than Bitcoin, that would be pretty useful...

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