I was holding XSN but lost it all on cryptopia. It was the only altcoin I had before I dumped it all.
There has never been a worse time to hold altcoins, to be frank. Even if some projects have a decent and genuine goal you just can't ignore the game theory behind the whole altcoin thing. It's just so inconvenient to hold several different wallets. Reason me and many lost their coins on shitxchangers was due the fact that we do not want to deal with the stress of having many wallets installed, keeping them updated, making sure the checksums are legit so you aren't install malware (ideally you want to compile it yourself)... it's an huge mess.
BTC dominance is going back to 90% ish and this is good, because most altcoins are dumb and useless. Unfortunately the good ones that will die are collateral damage.
BTC is already the de-facto digital hard money. If BTC's LN and other 2nd layer solutions reach mainstream success then I don't see a single altcoin succeeding long term.
It's a shame that you lost your funds. I used to use Cryptopia to buy Stakenet too, but I always sent what I had on the exchange to my wallet immediately afterwards.
Stakenet addresses every single problem you've mentioned.
1.) Their DEX solves the exchange hack problem by allowing anyone to trade and swap directly from a private wallet instead of having to send their funds elsewhere
2.) Their upcoming multicurrency wallet will allow for seamless interoperability between a wide variety of coins. You can hold several coins without having to download the individual chains because the MN network hosts them
3.) It allows Bitcoin to scale. LN adoption from BTC's end is slow because there's little profit or incentive for someone to run one. Stakenet's network of near-2,200 MNs will act as a massive Lightning Network payment processor, while the MN collateral will provide a bunch of liquidty for Bitcoin transactions.
At the moment, it's very cheap. If you're looking to get a position back, it's a great time to do so.
I know that the widespread sentiment right now is that Bitcoin dominance is going to go up forever, but I'd like you to remember that people said the same exact thing about altcoins in early 2018.
I agree with nightflightcourt.
BTC's LN will not achieve "mainstream success" on its own.
Currently, what is the point of operating a BTC Lightning node? Or a watchtower?
None. Because the fees on the Lightning Network are by definition negligible.
Stakenet provides a solution to this problem, with its network of masternodes acting as LN nodes.
