Being realistic and open-minded about altcoins can help you succeed!

[MarathonA]

You will see some people here at bitcointalk.org who loudly claim "All altcoins are a scam!", "None of them are decentralized like Bitcoin" (that one I saw today it's BS), etc. Some important things simply cannot be done with Bitcoin alone. Being realistic and open-minded about altcoins can help you succeed; Quoted here is something I wrote in another thread a while back:

Altcoins can be traded with Bitcoin in an attempt to earn more crypto. You are in an exchange market competition against other traders where a small % of skilled traders win long term and most other people lose. This exciting competition helps identify the rare altcoins with long-term value and utility based on unique features which Bitcoin lacks. People who hate all altcoins frequently have a blind rage which is similar to racism against other humans, since they fail to see some things cannot be done with Bitcoin alone.

Enjoy your time at this forum, and remember not all newbies are "fresh new scammers", and not all new projects are garbage.
ps. If an established member is rude - or treats you badly - just because you're new, consider reporting their post to a mod, don't assume you deserve to be treated that way.  

[obuoma]

This post in the Beginner & Help board will do more harm than good. The reason is that 99% of altcoins are usually fails and lead to losses and the data is public, so encouraging beginners to even think about altcoins wether by investment or trading, is suicidal. Beginners will do far better if they focus in investing into Bitcoin mainly for a start and holding for at least five to ten years and avoiding trading completely.

[ColdLava40]

Altcoins can be traded with Bitcoin in an attempt to earn more crypto. You are in an exchange market competition against other traders where a small % of skilled traders win long term and most other people lose. This exciting competition helps identify the rare altcoins with long-term value and utility based on unique features which Bitcoin lacks. People who hate all altcoins frequently have a blind rage which is similar to racism against other humans, since they fail to see some things cannot be done with Bitcoin alone.

Apart from the top altcoins we know, can you point out on which is reliable on a long term?

When forum members share their opinions on altcoins, some do not do it out of hatred. The must had experience with different fake projects in the past that turned to be a scam.

I know we all have our opinions, and you do not need to apply everything that is said on this forum to your investment you can take caution with the hints that was shared from top ranked members. Scammers cannot be spotted easily and that is why the forum try to point out a few.

[Dr.Bitcoin_Strange]

You could say "being open minded about altcoins might help some person succeed" Emphasis should be layed on the word "Might" because these same altcoins has ruined a lot of people, it has done them more bad than good. So, people should be more careful with altcoins, don't risk the amount you can not afford to lose. You probably were lucky with 1, 2 or few coins and so you believe everyone can be that lucky right? It doesn't work like that but if you don't understand it now, you will do so later.

Currently, there's a saga going on about a popular African crypto trader who collected money from 100s of people and added them to a telegram group which he said was a VIP group, in that group, he gave them list of altcoins to invest on and he assured them that those coins will change their life in few years. Currently, the guy is being dragged online because majority of those coins has been delisted from the exchange it was listed and some are valueless.

[aioc]

Being realistic and open-minded about altcoins can help you succeed;

There are many instances where you can make good profit from altcoins. When you say altcoins, these are altcoins that made a mark in the industry, like Ethereum or Solana; not shitcoins. You have to differentiate first between good altcoins and shitcoins; this is being realistic and open-minded.
Sure, you can succeed from altcoins provided you know how to spot good altcoins from bad altcoins, and it's not easy because scammer are good at pretending that their altcoins are good altcoins to invest in.

[Accardo]

Currently, there's a saga going on about a popular African crypto trader who collected money from 100s of people and added them to a telegram group which he said was a VIP group, in that group, he gave them list of altcoins to invest on and he assured them that those coins will change their life in few years. Currently, the guy is being dragged online because majority of those coins has been delisted from the exchange it was listed and some are valueless.

Brand new altcoins are a big threat, there're some nice alts in the market, the negative reviews around such crypto projects, revolves from its ability to permeate the market with numerous scam complaints, which has not just affected the market's growth, by scaring people away, it drops worldwide credibility of other genuine projects in the market, thereby hurting market growth, and collapsing promising projects due to low investment.

[coin-investor]

Being realistic and open-minded about altcoins can help you succeed!

But it can also cost you money; being realistic and open-minded is not enough; you have to be educated and know how to differentiate what altcoins are worth putting in your portfolio and what altcoins should be ignored.
Not all altcoins are the same; behind every altcoin are developers with their own motives or agendas for creating it. Check the motives, and you'll know if it deserves to be in your portfolio.

[Ojima-ojo]

As much as altcoins increases cryptocurrency scalability and increase adoption, only th top coins are already enough for the entire cryptocurrency ecosystem.


The problem come when you see, tons of altcoins popping up each and every day, messing up with the entire market and giving the newbies bad experience, trading or investment in altcoins should be done with extreme caution as always.