Are Altcoins Fake?

[TimeTeller]

Altcoins are real and I don't think we can say that altcoins are fake because the evidence is already there and many altcoins that exist today are circulating so that indicates that altcoins are real but when talking about profits and fraud it is different in terms of context because in the end we already know that most of the altcoins or projects that exist today are hoaxes but we cannot say that they are fake because altcoins are real. I guess for this comes from our thinking because at the end of the day even if we don't believe in altcoins it doesn't mean that it is something fake because at the end of the day there are still some projects that are running and still viable like some of the big altcoins like ETH, BNB etc. But on the other hand we also have to realize that even though we don't believe in altcoins, it doesn't mean it's fake. But on the other hand we must also realize that this is only a small percentage of the majority that are indeed scams.

I don't really like being in altcoins right now because I am fully devoted to bitcoin, but I don't think that altcoins are fake because there are still some projects that can still run even though I am not in them.

Maybe what the OP can conclude about alts is that most projects are not real as the devs behind them are here only for profits.
But there are still few that have actual use case just like you mentioned, ETH and BNB or those top alts.
This is why every user should be very cautious in investing on any alt, particularly the new ones because they have very short lifespan.
Simple digging on these alts would give you insights if the project is here for long-term or not.

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[Best-mary]

Some altcoins or let's say that they are many now that are becoming fake and being soft launched in the market. They're just testing the waters if they're going to become popular and gain volume. But not all of them are fake, we know that there are legitimate ones and are being used by many like the top ones. If you're in the new ones, you'll have to deal with the risk that they bear usually when they come out freshly to the market. So if you have earned like the new releases and they're being listed in good exchanges, you won't call them fake because you earn upon dumping it.

Yes, there are fake ones but how we can filter this type of deal is if a good cex gets to list the token at the long run

[carlfebz2]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Identifying a good coin requires thorough research, and more coins are continuously being developed. I recently noticed TIA listed on some exchanges and has been doing significantly well in price upsurge. Maybe due to the altseason we are in. But, If a coin has a strong community and utility, it's likely to perform well in the long run.

The essence of all this is that some individuals might not openly share this, but the world of cryptocurrency is versatile, and conducting in-depth research is key to achieving profits.

It is really just that there are people who cant really just that bare out with the risks and this is why they are really that afraid on taking further actions on which they would really be that tending on not to move or make investment decisions at all since they are really that scared about losing money. We know that there are indeed tons of opportunities on which  you could really be able to get into this market if you are really just that willing to take risks and move. You wont really be seeing yourself on progressing if you do let that emotion do control you or simply that hindering you on making out such decision specially on
investment with crypto.

Some do chose to stick with Bitcoin which i couldn't blame them on but there are people who do really love on considering on investing on Altcoins on which it isnt really that bad after all.
Just make it sure that you are really that dealing with projects which are really that worth to invest on, seeing on the current number of altcoins in the market then
it is really that safe to say that its never been simple on making a selection, this is why individual research and whatever things you do need to do
would really be that crucial and relevant.

[Best-mary]

Altcoins are real and I don't think we can say that altcoins are fake because the evidence is already there and many altcoins that exist today are circulating so that indicates that altcoins are real but when talking about profits and fraud it is different in terms of context because in the end we already know that most of the altcoins or projects that exist today are hoaxes but we cannot say that they are fake because altcoins are real. I guess for this comes from our thinking because at the end of the day even if we don't believe in altcoins it doesn't mean that it is something fake because at the end of the day there are still some projects that are running and still viable like some of the big altcoins like ETH, BNB etc. But on the other hand we also have to realize that even though we don't believe in altcoins, it doesn't mean it's fake. But on the other hand we must also realize that this is only a small percentage of the majority that are indeed scams.

I don't really like being in altcoins right now because I am fully devoted to bitcoin, but I don't think that altcoins are fake because there are still some projects that can still run even though I am not in them.

Maybe what the OP can conclude about alts is that most projects are not real as the devs behind them are here only for profits.
But there are still few that have actual use case just like you mentioned, ETH and BNB.
This is why every user should be very cautious in investing on any alt, particularly the new ones because they have a very short lifespan.

Yeah, precisely and most importantly, some coins that also get their way to a cex standard could also have some achievable progress in the long run that's why I do prefer trading on a cex because I know there's every 50% possibility the coin listed won't be a rugpull

[Hypnosis00]

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Well, the argument is quite true because I also experienced earning more from altcoins. But more people have chosen and are preferred in investing Bitcoin because of trust and confidence that they are holding a coin that will grow and it never scam them which I think is very important when choosing coins to invest.

Hypesd projects can really give us profit but their sustainability is very clear to us that it never lasts longer, it will die after the said event, and very slim to rise back because only a few people (or even nothing) have the courage to reinvest.

[lalabotax]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

There are two different sides to this. Namely they are potential profits and also potential losses as a high risk. Because, however, altcoins have a much higher risk than Bitcoin. Indeed, sometimes they will easily rise and skyrocket at one time, especially new altcoins. However, not everyone is able to see this chance at the right time. The mistake is that they enter at a late date, when prices are at their highest. And in the end, they will fail because the altcoins will not be able to return to the price when we bought them, especially if in the end the altcoin we bought experiences a rugpull and becomes a shit coin, this will be the end from our investment.

[batang_bitcoin]

Some altcoins or let's say that they are many now that are becoming fake and being soft launched in the market. They're just testing the waters if they're going to become popular and gain volume. But not all of them are fake, we know that there are legitimate ones and are being used by many like the top ones. If you're in the new ones, you'll have to deal with the risk that they bear usually when they come out freshly to the market. So if you have earned like the new releases and they're being listed in good exchanges, you won't call them fake because you earn upon dumping it.

Yes, there are fake ones but how we can filter this type of deal is if a good cex gets to list the token at the long run

The problem is, they will just pay the good cex to gets listed. That's how the world goes today in these exchanges but if you can start to report them even if they have good volume, hopefully that they'll get reviewed and will be considered. But again with these matters, it only takes is money for them to get ignored by being a fake one and then into building a reputation and then volume that contributes to the profit of that exchange.

[Yamifoud]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

There are two different sides to this. Namely they are potential profits and also potential losses as a high risk. Because, however, altcoins have a much higher risk than Bitcoin. Indeed, sometimes they will easily rise and skyrocket at one time, especially new altcoins. However, not everyone is able to see this chance at the right time. The mistake is that they enter at a late date, when prices are at their highest. And in the end, they will fail because the altcoins will not be able to return to the price when we bought them, especially if in the end the altcoin we bought experiences a rugpull and becomes a shit coin, this will be the end from our investment.

Well, only those who have many years of experience in the crypto market make sense of it and can intercept possible projects that will showcase huge pump-like bullish. Unfortunately, we all know and are aware that altcoins couldn't be the same as Bitcoin which remains valuable, unlike these altcoins where the majority of them turn into scams after the surge. We can't generalize that altcoins are fake but yes, most of them are worthless projects. That is why we should be cautious when choosing them and must have done research before investing.

[Best-mary]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

There are two different sides to this. Namely they are potential profits and also potential losses as a high risk. Because, however, altcoins have a much higher risk than Bitcoin. Indeed, sometimes they will easily rise and skyrocket at one time, especially new altcoins. However, not everyone is able to see this chance at the right time. The mistake is that they enter at a late date, when prices are at their highest. And in the end, they will fail because the altcoins will not be able to return to the price when we bought them, especially if in the end the altcoin we bought experiences a rugpull and becomes a shit coin, this will be the end of our investment.

Well, only those who have many years of experience in the crypto market make sense of it and can intercept possible projects that will showcase huge pump-like bullish. Unfortunately, we all know and are aware that altcoins couldn't be the same as Bitcoin which remains valuable, unlike these altcoins where the majority of them turn into scams after the surge. We can't generalize that altcoins are fake but yes, most of them are worthless projects. That is why we should be cautious when choosing them and must have done research before investing.

Yes, that is why I said some coins are doing well regardless. Okay, let's take a look at SoL and the much impact it gave itself after many falls to $8. Currently, Sol is eyeing its way to $50 soon.

That's why I said most likely, altcoins listed on exchanges give a 50% possibility of saving someone from getting a scammed token

[oktana]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

But that's not true. Altcoins aren't shitcoins tho shitcoins are altcoins. What I'm saying is that not all Alts are shitcoins, however, the shitcoins we see are actually Alts. This is why people just generalize it and just call them the same. The beauty of altcoins isn't in making money off it faster than in BTC, it's in the innovation. Altcoins often introduce new technologies and features that Bitcoin may not have. They are often created to serve specific use cases. For instance, Ripple (XRP) is designed for cross-border payments, and Chainlink (LINK) offers decentralized oracles for smart contracts. Also, some Altcoins like Stellar (XLM) and Nano (NANO) charge zero to nothing transaction fees. But these are all Altcoins

[Wexnident]

~

Well, most altcoins are shitcoins you can't deny that. At this point, I'd consider it a shitcoin till it's not something to live by really. The majority of altcoins are projects that ask for a loan to create their project after all instead of, well, presenting a real product/service that they can sell. That or they produce services that are close to useless or are just imaginary instead of anything real. While it wouldn't be that hard for someone with plenty of money to filter through projects and invest in a substantial amount that he thinks can profit, your average joe probably just looks at 10, 20 projects and decides on one to invest in. And if it flunks, money goes poof, which was everything, or close to everything he had.

[Ben Barubal]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Identifying a good coin requires thorough research, and more coins are continuously being developed. I recently noticed TIA listed on some exchanges and has been doing significantly well in price upsurge. Maybe due to the altseason we are in. But, If a coin has a strong community and utility, it's likely to perform well in the long run.

The essence of all this is that some individuals might not openly share this, but the world of cryptocurrency is versatile, and conducting in-depth research is key to achieving profits.

  I will ask you, even if you are a newbie in this industry. Do you think all altcoins are fake? This is the problem for us sometimes. When we ask a question or give our opinion, I will include myself, and we all agree immediately. For example, we will say that Bitcoin is the most secure long-term investment in this industry; it has been proven and tested for more than a decade.

  Then the other cryptocurrencies that the majority of the community here will say are shit altcoins and meme coins—do you think that's right? Since you are in the crypto space, is Bitcoin the only good opportunity you see here that can give us good earnings in the future that we can get?

[BChydro]

~
Yes, there are fake ones but how we can filter this type of deal is if a good cex gets to list the token at the long run

You cannot trust these CEX, if the token is good at marketing and influence the investors and if they are willing to pay good amount of money they will be listing the token, just check out any CEX and you will find a good amount of junk tokens listed only to pump and dumb. The only way to identify good project is to read their whitepaper and identify what they are brining to the table.

[Publictalk792]

Your experience with holding AGIX, INJ, RUNE, and ETH before the recent positive trend in the market is a perfect example of good return by the holding coins.
And you are right identifying a good coin requires  research as there are many new coins being developed constantly. If a coin has a strong community and utility it can perform well in the long run. Thank you for sharing your insights and experiences.

[bitzizzix]

Even though most of them are scams, especially new Altcoins, that doesn't mean that big Altcoins like Ethereum, BNB, XRP, Tether, Solana, Luna, Shiba inu, Dogecoin, and others are all legitimate crypto coins and not scams.
And the best tool in the crypto world is to do fundamental analysis and do it thoroughly, and the vulnerability to Altcoin fraud also depends on your goals and also the results of your investment research. If you are looking for a safe investment with less risk, look at the top 100 and oldest Altcoins as they are still reliable in terms of returns especially in the long term.
And you have to be careful in choosing Altcoins and you also need good knowledge and intelligence to be able to choose Altcoins, otherwise you will be easily fooled by these damn coins.

[wxa7115]

Well, most altcoins are shitcoins you can't deny that. At this point, I'd consider it a shitcoin till it's not something to live by really. The majority of altcoins are projects that ask for a loan to create their project after all instead of, well, presenting a real product/service that they can sell. That or they produce services that are close to useless or are just imaginary instead of anything real. While it wouldn't be that hard for someone with plenty of money to filter through projects and invest in a substantial amount that he thinks can profit, your average joe probably just looks at 10, 20 projects and decides on one to invest in. And if it flunks, money goes poof, which was everything, or close to everything he had.

There is a reason why the community in general thinks of most altcoins as shitcoins, and that is because they are, this is undeniable, those that defend those coins often point out to ETH or BNB, but those coins are an exception to the rule and nothing more.

The majority of the altcoins being released today have no purpose or reason to be other than to enrich the developers, and being that the case I do not see any reason why a serious investors will even consider investing in those coins.

[Iamcrypticguy]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Identifying a good coin requires thorough research, and more coins are continuously being developed. I recently noticed TIA listed on some exchanges and has been doing significantly well in price upsurge. Maybe due to the altseason we are in. But, If a coin has a strong community and utility, it's likely to perform well in the long run.

The essence of all this is that some individuals might not openly share this, but the world of cryptocurrency is versatile, and conducting in-depth research is key to achieving profits.

Identifying high-quality alts can be challenging. Navigating through complex analytical tools and platforms like CoinGecko or CoinMarketCap requires some skill. Finding alts to research is another hurdle. I've resorted to checking listing announcements on platforms like Bitget and Binance, but I lean more towards the former because they have a higher likelihood of listing low-cap blue-chip alts.

[bluebit25]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Identifying a good coin requires thorough research, and more coins are continuously being developed. I recently noticed TIA listed on some exchanges and has been doing significantly well in price upsurge. Maybe due to the altseason we are in. But, If a coin has a strong community and utility, it's likely to perform well in the long run.

The essence of all this is that some individuals might not openly share this, but the world of cryptocurrency is versatile, and conducting in-depth research is key to achieving profits.

OP, you are targeting what is considered a trend (which is essentially hype) and not covering all altcoins. And what do you think about the profits earned from ETH or BNB? Some people just like to take advantage of the cycle of price increases and decreases to access the market, and they don't need to worry too much about it skills topic in this space. For each different financial position, we can give appropriate perspectives and strategies to approach. If I only talk about trends, I only see what you mentioned as short term and time based coins people look for new things and forget about them.
Even if you know these things early, try to experience them to see what profits you can earn with them. Because here, many people have known about Bitcoin or ETH, BNB... very early on, but Only a few achieve huge profits and most of them regret that the opportunity has passed.

[nelson4lov]

Your thread title doesn't align with the content. Shitcoins have made it seem like the entire altcoin endeavor is an obvious scam but it's not. I'm aware of some altcoins that is currently pushing the boundary of the possibilities of blockchain. You mentioned TIA (Celestia), INJ (injective), ETH, etc. These are some of the tokens that have done exactly that. Ethereum for example pioneer the entire altcoin space bringing Programmable smart contracts to run directly on a blockchain which is something that researchers are still pushing very hard to do on bitcoin with the introduction of BitVM.

[Best-mary]

Your thread title doesn't align with the content. Shitcoins have made it seem like the entire altcoin endeavor is an obvious scam but it's not. I'm aware of some altcoins that is currently pushing the boundary of the possibilities of blockchain. You mentioned TIA (Celestia), INJ (injective), ETH, etc. These are some of the tokens that have done exactly that. Ethereum for example pioneer the entire altcoin space bringing Programmable smart contracts to run directly on a blockchain which is something that researchers are still pushing very hard to do on bitcoin with the introduction of BitVM.

In a way it rhymed. I wanted to bring people to the notice that Not all coins are shit coins. As you have mentioned, most coin can do incredibly well