Are Altcoins still about innovation or just profits now?

[Duru_01]

Initially, new altcoins were made to improve on Bitcoin, the transactions were faster, the privacy was better, smart contract, and many more. But recently, it feels like most new projects are after the hype and not innovation.

Meme coins, AI coins, "next-gen" tokens, they all come and go, and right now it feels like some persons are more concerned about short-term gains than real blockchain use cases.

Don't misunderstand it, some altcoins still push real progress and are doing real good; say Ethereum, Chain link and some others too but the noise is becoming quite louder than the signal.

What do you think, are altcoins still driving crypto innovation, or have they turned into just another way to gamble for gains?

[Ojima-ojo]

Initially, new altcoins were made to improve on Bitcoin, the transactions were faster, the privacy was better, smart contract, and many more. But recently, it feels like most new projects are after the hype and not innovation.

Meme coins, AI coins, "next-gen" tokens, they all come and go, and right now it feels like some persons are more concerned about short-term gains than real blockchain use cases.

Don't misunderstand it, some altcoins still push real progress and are doing real good; say Ethereum, Chain link and some others too but the noise is becoming quite louder than the signal.

What do you think, are altcoins still driving crypto innovation, or have they turned into just another way to gamble for gains?

The large inflow of capital into the cryptocurrency market is the reason why most newbies projects have deviated from their original concept and drive, altcoins projects have always been about scalability and innovations, but lately the focus have changed and Money is now the central focus for most new projects that is why we see a lot of memecoins pumping up and most dead on arrival since their existence is just based on hypes.

[Duru_01]

I think the actual builders are getting swallowed under the noise. Every week there's always a new "next big thing" but just little projects are able to stand and survive the test of time and complete a full market cycle.

perhaps the next run in the upward movement will bring to light the altcoins that really have utility and not just hype and memes. I can't wait to see which ones will still be up when the dust settles

[JeromeTash]

Most of them are just money making schemes for the coin creators and developers and the earlier most people know the better. Many memecoins are just even scam/rugpulls anyway. Bear markets aways expose even most of them at the end.

[Stalker22]

Its the same old story.

Its just the original problem, but louder.  Most of these projects just chase whatever is trendy, be it the newest meme or the AI hype.  Its a gold rush, plain and simple.  You can still find real projects that do something useful, but they are lost in all the junk coins people flip for quick cash..

So, are altcoins still pushing new ideas?  Yeah, but only a few.  For most of the market, you are right: its just a way to gamble on hype.

[o48o]

Initially, new altcoins were made to improve on Bitcoin, the transactions were faster, the privacy was better, smart contract, and many more. But recently, it feels like most new projects are after the hype and not innovation.

Meme coins, AI coins, "next-gen" tokens, they all come and go, and right now it feels like some persons are more concerned about short-term gains than real blockchain use cases.

Don't misunderstand it, some altcoins still push real progress and are doing real good; say Ethereum, Chain link and some others too but the noise is becoming quite louder than the signal.

What do you think, are altcoins still driving crypto innovation, or have they turned into just another way to gamble for gains?

When 99.99% of them are cash grabs and rug pulls, is anyone supposed to believe that altcoins in general would be anything else?
Obviously innovations come with them. It's just that most of those "innovations" are sold as such, even though they are snake oil, because sometimes it's more profitable to market them as something "useful".

And most of the time with "real" innovations, it's just an only term devs can describe them as. Even when those innovations are just crap no one needs.

I have found only handful of real innovations, and countless of times i have been mislead to believe that something is a real, and useful innovation.

[nelson4lov]

What do you think, are altcoins still driving crypto innovation, or have they turned into just another way to gamble for gains?

In the last 4 years, 99% of all altcoins have largely been about extraction and profiting for teams and their VCs and zero innovation. Only top 1%like hyperLiquid have really pushed the bounds of innovation in the said period. A team will say they are building a Layer 1 for their community but will give the smallest piece of the token supply to their community and majority to themselves and their VC investors and together, they will dump the chart to 0. They will eventually leave after vesting/unlocks to create another project to extract with—and the cycle continues.

Btw, anyone saying memecoins are an innovative is just lieing to themselves. Memecoins are garbage and will continue to be so.
 

[Bushdark]

Almost all of these altcoins projects are after making profits for themselves and promoting their projects so that investors can pump their money. Some projects are not after community building and rewarding loyal community supporters. Since their is nobody regulating these altcoins projects, they behave anyhow they like and take decisions that will profits them in making more money.
There are so many tokens that have been known as pump and dump and this is why investors are losing instead of getting rewarded from their investments so they don't sell all their holdings.

[passwordnow]

What do you think, are altcoins still driving crypto innovation, or have they turned into just another way to gamble for gains?

If I am going to give them a ratio, maybe out of 100 new projects out there 2-3 are the real innovators. While the rest, they are for the quick bucks and that's why not all of them are getting the success the early projects that have real purpose and innovation that have proposed to the community. And the gambling itself is with the investors, because we think that the earlier we enter into a project, the more profitable it is going to be. That have been true at some point for some other projects but it doesn't apply at all times.

[programmer3666]

like seriously the altcoin world has really changed from what it used to be in the beginning most new coins were created to fix bitcoin’s problems!! like slow transactions, lack of privacy and limited features but now many new coins are just made for hype and quick profits, not real improvement still there are some good projects out there that keep working on real innovation like ethereum, chainlink and some newer ones focusing on faster networks better security and smart AI systems are still pushing crypto forward even if it is hard to see them through all the noise

[ultrloa]

like seriously the altcoin world has really changed from what it used to be in the beginning most new coins were created to fix bitcoin’s problems!! like slow transactions, lack of privacy and limited features but now many new coins are just made for hype and quick profits, not real improvement still there are some good projects out there that keep working on real innovation like ethereum, chainlink and some newer ones focusing on faster networks better security and smart AI systems are still pushing crypto forward even if it is hard to see them through all the noise

That's what we usually see on most of coins launched before and we could see them get real usage also great value.

But for now everything really change since what usually came up on the scene are the scams.

Those tokens are just been created for pump and dump purposes. Usually in this schemes the one always win are the devs and usually those people comes late usually lose their money. Maybe better for people to do their own diligence to research well if those Ai coins they see is reliable. Since there's really a huge chance that they exist out of hype and eventually will gone the same with other shitcoins once they hit their target liquidity.

[Dunamisx]

Both innovations and profitability are the main sources for going into altcoins because some have been oriented that it's one of the fastest ways to realize our crypto targets within a short period, however, there is more risk to doing this than what we may seem to focus on being part of the benefits from altcoins, we should also keep asking ourselves, if we are taking advantage of these innovations to our own advantage for investment profitability or we are getting something otherwise.

[Frankolala]

Initially, new altcoins were made to improve on Bitcoin, the transactions were faster, the privacy was better, smart contract, and many more.

Says who...altcoins has never given goof and better privacy since their creation. They're all duplicate of bitcoin with no real life utility. Since onset, the devs were creating these shitcoins to scam and extort people in the crypto space. I see it that all these shitcoin devs have lost it because they're repeating the same thing over and over again with a new name. Profit is what everyone is after apart from Satoshi.

[livingfree]

Most of them are just money making schemes for the coin creators and developers and the earlier most people know the better. Many memecoins are just even scam/rugpulls anyway. Bear markets aways expose even most of them at the end.

That is the truth with the altcoins.

Many of them are into quick profiting and rug pulls.

This is a huge industry that they're taking a look because many are fools and gullible with the few words of promises of what they propose.

Especially in the memecoins and even AI coins, I think that everyone needs to look at it and be careful with them.

[adultcrypto]

Majority of altcoins were never about innovation but built for profits only. How many of the altcoins are delivering any real utility? A lot of them need a multitude of social accounts to shill them on social media in order to keep them trending to draw investor into the project. Some of the team spend huge amount of money on marketing, something we do not see happen in bitcoin. Bitcoin does not need anyone to market it, the more people are seeing the benefit, the more they continue to embrace it.

[Stable090]

Initially, new altcoins were made to improve on Bitcoin, the transactions were faster, the privacy was better, smart contract, and many more. But recently, it feels like most new projects are after the hype and not innovation.

Altcoins are now created just to make money, people seat and create coin, they spend money to promote the coin, when the price rises, they dump it on people that invest in the coin and they move forward. Altcoins created right now doesn’t have use case, and how do you expect a coin without use case to be in the market for a long time.

Coins keep on entering the market on a daily basis, so you should know that most of those coins are Owen by scammers, they just want to make money, that’s why I don’t even encourage people to invest in altcoins, and if you intend to do that, then go for coins that have been in existence for years are they are still performing well.

[Balmain]

In my opinion, the number of altcoins launched for innovation is decreasing daily. Altcoin teams are driven by greed and are completely focused on profit, and we see many of them pulling the plug when they reach a certain saturation point. I hope the market will correct itself. This is where investors face challenges. How they invest is crucial, and they should prioritize innovation and truly effective projects.

[M47AK16]

In my opinion, the number of altcoins launched for innovation is decreasing daily. Altcoin teams are driven by greed and are completely focused on profit, and we see many of them pulling the plug when they reach a certain saturation point. I hope the market will correct itself. This is where investors face challenges. How they invest is crucial, and they should prioritize innovation and truly effective projects.

That may be because there is no more new innovations for them to add? And if ever there will be a new project, they will likely be unimportant and only created in the hopes of their devs to earn money. There is no need to wish for a correction because it is only a normal event in this market. A correction is only a small decline in the price, so it is not something that can shake the people.

Even though what you said there is true, but we are not responsible for others anymore and don't you like it? When they FOMO, we experienced people are mostly the ones that benefit, lol. Only when everyone in this altcoin space start avoiding shitcoins and not trading them for any short term monetary benefits, this type of trend will find an end.

[asriloni]

What do you think, are altcoins still driving crypto innovation, or have they turned into just another way to gamble for gains?

The era when developers were developing a new platform cuz they being driven by real innovation already passed. It's happened a few years ago, but totally different at this moment.

These days developers are only copy paste the old project with the same tech, but only different name. So the reason is obvious due to the "monetary" reason.

They were aiming profit from doing tokenization after they copy paste the old project. That's how crypto business work these days, it sounds very scammy, yeah!.

[allthebitandbobs]

Majority of altcoins were never about innovation but built for profits only. How many of the altcoins are delivering any real utility? A lot of them need a multitude of social accounts to shill them on social media in order to keep them trending to draw investor into the project. Some of the team spend huge amount of money on marketing, something we do not see happen in bitcoin. Bitcoin does not need anyone to market it, the more people are seeing the benefit, the more they continue to embrace it.

That was on the latter stages but in the ancient times of crypto, all cryptos are about innovation, providing the lack of the early crypto. Doesn't matter if the project is solid but if they still lack on marketing, the success that they always wanted may still be unclear. Have you seen how Bybit is being shilled in the forum? The case of bitcoin is different because it is the first crypto and then the aim of its devs is also different. It is only lucky that there are willing people that helps to spread its word.

Personally I prefer altcoins to be innovating like how ethereum first brough smart contracts to the crypto world. But, after that we are not seeing any big innovations are happening with altcoins. But, manipulations of altcoins are everywhere which is not at all good for the future of altcoins.