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Author Topic: Why Consider All Altcoins Bad  (Read 2720 times)
worldtraveller321
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December 06, 2019, 07:25:11 PM
 #1

The question is why do some people generalize all Altcoins as bad? considering there are over 3000 of them out there. One would not have the time to go through each project one by one. to analyze the project. team etc everything behind each crypto project.
There has to be some project out there under good intentions. Not all projects could be a scam. I admit I only have a top 4 i consider when it comes to best coins. But yet many should be decent at least honest projects out there. Afterall we do need more projects. more quality projects out there in order for crypto to succeed.

your thoughts

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December 06, 2019, 08:19:49 PM
Merited by tk808 (5), CryptopreneurBrainboss (2)
 #2

Nobody is saying "all altcoins are bad" but majority of altcoin projects are pointless to begin with. Imagine projects sprouting with the same aim, and the previous existing projects sometimes have better vision than new ones. If we are to follow an ideal altcoin system, newer projects ought to be revamped comparatively but that's mostly not the case.   I think there are too many projects sprouting, and most of them are mainly to make the team members rich and nothing more. The few projects with genuine interest get affected since investors are now very skeptical to invest in any altcoin, especially new altcoins. Not all altcoin projects are scam I admit, but to limit risk taking, atlesst 70% of my long term holding is in BTC.
 
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December 06, 2019, 08:26:39 PM
Merited by tk808 (1)
 #3

Perhaps an assumption
People literally believe that once 80% are bad all are bad which is not really the blockchain idea

As an investor you need to identify the break and boom limit of every token or altcoin you invest in
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December 06, 2019, 08:28:15 PM
 #4

The question is why do some people generalize all Altcoins as bad? considering there are over 3000 of them out there. One would not have the time to go through each project one by one. to analyze the project. team etc everything behind each crypto project.
There has to be some project out there under good intentions. Not all projects could be a scam. I admit I only have a top 4 i consider when it comes to best coins. But yet many should be decent at least honest projects out there. Afterall we do need more projects. more quality projects out there in order for crypto to succeed.

your thoughts
I don't think anyone will say all altcoins are bad but considering the number of total altcoins which is about 3000 then the worth of altcoins to be invested is about 20 or something then its not a wonder that people generalize altcoins as bad.

We no need more projects in the cryptos, we have enough all we need is adoption not the new crypto projects.


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December 06, 2019, 08:29:51 PM
 #5

There has to be some project out there under good intentions. Not all projects could be a scam.
No, not all coins are scams but who knows what the devs' real intentions are?  I have always assumed that they usually create coins or tokens so that they can get rich, and in 2017 it seemed like everyone and his brother was cashing in on the hot ico market. 

You mentioned that there were over 3000 coins on the market, and I would suggest that's *far* too many.  If you pick a random coin out of the coin population and compare it to another random coin and then ask yourself how the two are different, you'll probably be unable to answer the question.  That's because so many of them are just clones of something else, slapped with a new brand name and marketed to people who don't know any better.  It's sad that some people buy into that hype and become bagholders while the coin devs are laughing all the way to the bank.

Nobody is saying "all altcoins are bad" but majority of altcoin projects are pointless to begin with.
"Pointless" is probably the best term to describe the overwhelming majority of altcoins on the market.
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December 06, 2019, 08:30:09 PM
 #6

Nobody is saying "all altcoins are bad" but majority of altcoin projects are pointless to begin with. Imagine projects sprouting with the same aim, and the previous existing projects sometimes have better vision than new ones. If we are to follow an ideal altcoin system, newer projects ought to be revamped comparatively but that's mostly not the case.   I think there are too many projects sprouting, and most of them are mainly to make the team members rich and nothing more. The few projects with genuine interest get affected since investors are now very skeptical to invest in any altcoin, especially new altcoins. Not all altcoin projects are scam I admit, but to limit risk taking, atlesst 70% of my long term holding is in BTC.
 

I guess our mate was only emotional with his holdings which hasn't gained a better value since the last fall of altcoins price last two years ago. Somehow, let's take full understandings why it happened to him so as the other traders who've been struggling for so many times. Indeed in often times, some coins can't recover due to the fact that developers isn't working on it and affected with the recent bearish market.
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December 06, 2019, 08:50:21 PM
 #7

The question is why do some people generalize all Altcoins as bad? considering there are over 3000 of them out there. One would not have the time to go through each project one by one. to analyze the project. team etc everything behind each crypto project.
There has to be some project out there under good intentions. Not all projects could be a scam. I admit I only have a top 4 i consider when it comes to best coins. But yet many should be decent at least honest projects out there. Afterall we do need more projects. more quality projects out there in order for crypto to succeed.

your thoughts

hmmm well people say so many things on the internet, if you want to find a reason and explain everything you'll go nuts.
moreover there are people who say it just because they get paid to say that or because they lost a lot of money or hold bitcoin right now and will be pro altcoins when they sell bitcoin.. so... make you own research and decide your own opinion.

its your money dont let others people opinion to affect your decisions before you think about it from every angle.
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December 06, 2019, 09:05:59 PM
 #8

The question is why do some people generalize all Altcoins as bad? considering there are over 3000 of them out there. One would not have the time to go through each project one by one. to analyze the project. team etc everything behind each crypto project.
There has to be some project out there under good intentions. Not all projects could be a scam. I admit I only have a top 4 i consider when it comes to best coins. But yet many should be decent at least honest projects out there. Afterall we do need more projects. more quality projects out there in order for crypto to succeed.

your thoughts

I tend to deviate, not all altcoins are bad, there are many out there which are worth it. The issue is, most or rather a majority of them are worthless so giving people the mindset that all altcoins are bad. Also, this idea comes most of the times from those who aren't well granted in the crypto space or those investing based on hype. A coin like Eth is an altcoin but one can't say it is a bad coin, others are XLM, ADA and so on are also worth it. So in all ramifications, majority are bad while a few are good.

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December 06, 2019, 09:11:52 PM
 #9

Yes you are very right and i fully agree with your point there are dozens of good altcoins the things go wrong when people start analyzing the project or alt with respect to their price where they just donot realize that price in the open market is a variable of multiple complex factors which cannot simply make us say that it is scam or failed altcoin.

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December 06, 2019, 09:12:08 PM
 #10

well for someone who purely believes in bitcoin, all altcoins might just be bad. but you can see them trading BTC/usdt which USDT still can be considered an altcoin. ETH should be bad for them as well if they really consider 99% of all cryptocurrency to be shitcoins but you can see them demonstrate trading DOGE. you know there are lots of reason why they may be saying it, most probably they want the weak hands to sell.


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December 06, 2019, 09:14:34 PM
 #11

The question is why do some people generalize all Altcoins as bad? considering there are over 3000 of them out there. One would not have the time to go through each project one by one. to analyze the project. team etc everything behind each crypto project.
There has to be some project out there under good intentions. Not all projects could be a scam. I admit I only have a top 4 i consider when it comes to best coins. But yet many should be decent at least honest projects out there. Afterall we do need more projects. more quality projects out there in order for crypto to succeed.

your thoughts
I don't think anyone will say all altcoins are bad but considering the number of total altcoins which is about 3000 then the worth of altcoins to be invested is about 20 or something then its not a wonder that people generalize altcoins as bad.

We no need more projects in the cryptos, we have enough all we need is adoption not the new crypto projects.


We've now got more than 3500+ altcoins. Everyday this number keep on increasing. If you go through every new altcoins listed there'll be features and promotions that state it to be better than bitcoin and other top altcoins. Here we can't say only 20 has got potential, more altcoins are good but it is hard to find. Maybe the luck gets us to find it, and everything getting tokenized is the reason for for the existence of such a large number of altcoins.
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December 06, 2019, 09:27:59 PM
 #12

@OP you have just generalized our judgement. There are good altcoins and some of them have been well established in the crypto market, except when so e decide to FUD on it, so as to make their profit for that particular period of time. In fact, without altcoins, I tried to imagine what the whole crypto space would look like. I doubt it will be interesting.
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December 06, 2019, 09:31:31 PM
 #13

The question is why do some people generalize all Altcoins as bad? considering there are over 3000 of them out there. One would not have the time to go through each project one by one. to analyze the project. team etc everything behind each crypto project.
There has to be some project out there under good intentions. Not all projects could be a scam. I admit I only have a top 4 i consider when it comes to best coins. But yet many should be decent at least honest projects out there. Afterall we do need more projects. more quality projects out there in order for crypto to succeed.

People can generalise whatever they want.   There is a game theory that tells us that everything gravitate to one center. Like we gravitate to earth. So does Moon. Because Earth is bigger then us and Moon. But they simply not see that there are more use cases for block chain. Right now we have a lot transparent ledger payment coins. That will not last. I mean they will exist but will have 0.00001% of Bitcoins marketcap. Same as wil happen with normal cryptocurrencies. There will be some, but will have 0.0000001% marketcap of Monero.
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December 06, 2019, 09:31:52 PM
 #14

Who says that?I have the impression that this is just Your own opinion.In fact, there are a lot of worthy projects.I agree not all projects can be analyzed,but still most are very valuable.
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December 06, 2019, 09:39:15 PM
 #15

Not many people hate on all altcoins, but common argument is that most altcoins are obsolete, not needed, problems that they are solving could be solved without special dedicated cryptocurrency. For example fast transactions with low fees can he solved using bitcoin and Lightning Network. So we already have this feature in bitcoin. And there are more so-called Layer 2 solutions around bitcoin, shown on this graphics:



Source: https://medium.com/digitalassetresearch/a-look-at-innovation-in-bitcoins-technology-stack-7edf877eab14

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December 06, 2019, 09:43:38 PM
 #16

The existence of good projects in the market is the best answer to this question, if the market was shitty, so many people would not be involved in crypto. This idea is mainly about newly created projects, recently, most of the new projects immediately drown. Because they are not strong enough to walk on the ground. Also, there are many altcoins that have been successful this year, obviously, they have not looked into the right place.
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December 06, 2019, 10:13:53 PM
 #17

They are actually wrong and they are just creating FUD's that will make newcomers will think negative about crypto. It absolutely they are frustrated enough to say and look the market full of scam, besides we could still find good project and altcoins that can still be trusted.
The market isn't so hard to understand but somehow some people wouldn't open up their mind instead of being blinded enough to see the reality. 
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December 06, 2019, 10:24:30 PM
 #18

There are TONS of great projects that have FAR exceeded the ROI on Bitcoin this year alone. Most a PnD projects, but there are also some real gems out there, that you can pick up right now, and make a killing with next bull run.

Safe bets:
ADA
NEO
ETH
BCH

A real gem I recently found was Blocknet, who sits with a tiny marketcap, yet managed to make the first functional DEX on the market, a TRUE DEX, none of those "pretend DEX's" like IDEX, Binance, Waves etc.
Their most exciting tech is their Xrouter, which will solve the "Oracle Problem" in a more decentralized way that LINK believe it or not.
I'm buying a good mix of all these coins right now, while holding a good bunch of BTC as well Smiley
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December 06, 2019, 10:29:11 PM
 #19

it caused some people were getting a bad experience with icos and that happened so many times. That's why some people may call all of the altcoins are bad coins.
But this is for a coin that created through use ico as a way to raise the funds but if that has already created through use the normal development progress without done an ico and they will call that's a normal thing when happened with a coin that the creation without using the funds.

But i just take this as their opinions. now, they are blaming or generalize the bad altcoins based on the reputation of the altcoin itself. Maybe, there are some still saying all altcoins are bad but that's not a problem as long as we cna still do our judgment based on the fact.

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December 06, 2019, 10:31:15 PM
 #20

The majority of the altcoin that is available on the market is not progressing well that's why people think there are no good or reliable altcoins these days. A lot of investors suffer huge losses with altcoins so we can't blame them if they are thinking negative about the altcoin market.

 
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