Are altcoins, in general, worthless and pointless?

[runpaint]

I hold small amounts of over 100 altcoins.  If altcoins have any use, and if any altcoins survive long enough to gain real value like Bitcoin did, then I have a good chance that one of mine will be one of the successful ones.

But 17 of my coins just got delisted at the same time on one of the exchanges.  Maybe that's just narrowing down the potential winners that are still left, or maybe it's a big sign that even the people selling us these coins don't believe the coins have any lasting value.  These aren't 17 of the shittiest shitcoins - if you had to pick 100 altcoins, some of these would probably be on your list. 

I started a big thread about it, but that thread has been moved to Service Discussions.  I didn't want to start 17 threads for the 17 coins that were delisted, because that many coins together makes it "about altcoins" more than about any single altcoin.

I kind of wanted to raise the issue of the future of altcoins in general, and how none of these coins can make us millionaires if we throw them away by the dozen.

It's not really about service, it's about altcoins.  What are altcoins?  Are they all worthless, and so it's no big deal if you throw away half a billion of them?  Poloniex is a major player in altcoins, and they just effectively declared millions of my altcoins as worthless.  How many billions of the same coins are held by other people here?

If all altcoins are worthless, then maybe my comments are just a service issue.  But if altcoins have no future, then neither does this forum.

Most people think cryptocurrency is a scam and we're all idiots to buy any of it.  Well, actually most people have never heard of cryptocurrency, but the people who have heard of it mostly think it's a joke.  Apparently altcoin exchanges and even altcoin forums agree.

If you lost millions of Bitcoins, would anyone care?  Would your friends, family, and co-workers laugh, or would they have the slightest understanding that millions of cryptocoins might be something to take seriously?  Would anyone even take it seriously at an altcoin forum, or would they just move it to "Service Discussions" because it's just another complaint and not anything important?

TLDR Version:  Even altcoin forums don't care if 5 to 10% of all currently traded altcoins are delisted in one day.  Therefore, this whole "altcoin" thing you're supposed to be talking about is evaporating as we speak and you can't be bothered to take notice.

[djm34]

the problem isn't altcoin in itself, but rather stupid and greedy coin dev who think they should clone everyday a new coins.
The level of absurdity has reach an unprecedented level since June.

There are way too many coin and the vast majority are just useless clone with a stupid cloned name such as darkcrapcoin, litecrapcoin, bitcrapcoin, blackcrapcoin and so on. The only reason for these coin to exist is the premine dev can dump (or the ICO dev and p&d accomplice can pump and dump...)

Before April, there was mostly 2 new coins per week (things started to get stupid during Easter holidays), now it is 2 new coins everyday. I am not even looking anymore to announcement, and not mining any of these either...

only a few good coin were produced during that time and they aren't the most successful either... which is kind of sad

[fabula]

the problem isn't altcoin in itself, but rather stupid and greedy coin dev who think they should clone everyday a new coins.
The level of absurdity has reach an unprecedented level since June.

There are way too many coin and the vast majority are just useless clone with a stupid cloned name such as darkcrapcoin, litecrapcoin, bitcrapcoin, blackcrapcoin and so on. The only reason for these coin to exist is the premine dev can dump (or the ICO dev and p&d accomplice can pump and dump...)

Before April, there was mostly 2 new coins per week (things started to get stupid during Easter holidays), now it is 2 new coins everyday. I am not even looking anymore to announcement, and not mining any of these either...

only a few good coin were produced during that time and they aren't the most successful either... which is kind of sad

Disagree.
I make btc only with shitcoin. I need 10 altcoin a day. If you re a good trader,you could make profit. Much.
I stop  mining rig and starter to trade.

[runpaint]

Yes, if you're a good trader you can make a little money. 

Who do you think is ahead, you or the guy who bought $28 worth of Bitcoin and sold it for $700,000?

You're the guy who bought $28 and sold it for $56.  That's 100% profit, not bad!

[tokeweed]

i think making another coin market capitalization site, with only the legit coins listed is a good idea.  but how to decide which is legit and which are outright, pure scams is the problem.

or maybe coinmarketcap.com should start delisting proven scamcoins...?

[unent]

I would say a large percentage of alt coins are worthless but not all of them. A large number are made by newbie devs who want to make a quick buck then abandon their coins. After a coins dev has run away it usually becomes quickly worthless.

[Sir Alpha_goy]

.

[tokeweed]

I would say a large percentage of alt coins are worthless but not all of them. A large number are made by newbie devs who want to make a quick buck then abandon their coins. After a coins dev has run away it usually becomes quickly worthless.

think of the coins with anonymous devs.  there's prolly one dev who created 10 coins already, and still at it.

[Mr Tea]

Are altcoins, in general, worthless and pointless?

Yes.

But 17 of my coins just got delisted at the same time on one of the exchanges.  Maybe that's just narrowing down the potential winners that are still left, or maybe it's a big sign that even the people selling us these coins don't believe the coins have any lasting value.  These aren't 17 of the shittiest shitcoins - if you had to pick 100 altcoins, some of these would probably be on your list. 

They probably should've never been listed in the first place, but this is how these shit coins work. Dump then move on. They're pointless.

[runpaint]

the problem isn't altcoin in itself, but rather stupid and greedy coin dev who think they should clone everyday a new coins.
The level of absurdity has reach an unprecedented level since June.

There are way too many coin and the vast majority are just useless clone with a stupid cloned name such as darkcrapcoin, litecrapcoin, bitcrapcoin, blackcrapcoin and so on. The only reason for these coin to exist is the premine dev can dump (or the ICO dev and p&d accomplice can pump and dump...)

Before April, there was mostly 2 new coins per week (things started to get stupid during Easter holidays), now it is 2 new coins everyday. I am not even looking anymore to announcement, and not mining any of these either...

only a few good coin were produced during that time and they aren't the most successful either... which is kind of sad

You are correct, but the greedy devs are only part of the problem.  

The greedy community is a problem, but not only because of greed.  It's also because of short-sightedness.

A greedy person would love to buy $28 worth of Bitcoin and sell it for $700,000.  If everyone buying altcoins was that kind of greedy, all altcoins would hold their value until they were worth as much as Bitcoin.  

If I buy 100,000 altcoins for a total price of $1.00, I usually plan to sell 10,000 for at least 10 times what I paid.  If it never sells, then I've only spent $1.00.  If it does sell, then I have another 90,000 coins that are already paid for.  Why should I sell them for another $1.00, or even $9.00?  That's not worth bothering with.  So I sell the rest at different prices and I'll still have at least 10,000 saved up in case the price goes over $100.  If it never gets that high, I've made a little money anyway, or not, but I'll never be the guy who sold all his Bitcoin for a penny instead of a million dollars.  If you want to sell for a penny, fine - but you don't have to sell ALL of it.  

So the important question is which coins to take a chance on.  Obviously some have a better chance of surviving than others.  I had thought that I would trust Poloniex's judgement, added with some critical thinking of my own, and I bought almost any coin they offered.  That was a serious mistake on my part.  They delisted some coins with potential, while they're still grabbing those temporary sales on shit like BALLS.

But most people seem to agree that the only value a coin has is the value it has RIGHT NOW.  Nobody cares about the fact that almost every coin MUST increase in value the longer it survives and gains users.  In other words, these coins are 6 months old, and that is the perfect time to buy.  It's the worst time to sell, and it's far too soon to abandon.  What was the price of Bitcoin when it was 6 months old?  And what was the price of Bitcoin after 4 years?

[kelsey]

But 17 of my coins just got delisted at the same time on one of the exchanges. 

If cryptos are truly decentralised then they should be indifferent to being or not being exchange listed....no?

[djm34]

Yes, if you're a good trader you can make a little money.  

Who do you think is ahead, you or the guy who bought $28 worth of Bitcoin and sold it for $700,000?

You're the guy who bought $28 and sold it for $56.  That's 100% profit, not bad!

hmm an example of this happening ? (not belonging to BobSurplus scam ?)
not mentionning that most of these coin don't even have any buy volume 

[kelsey]

But most people seem to agree that the only value a coin has is the value it has RIGHT NOW.

I think you're confusing value with price.

[djm34]

the problem isn't altcoin in itself, but rather stupid and greedy coin dev who think they should clone everyday a new coins.
The level of absurdity has reach an unprecedented level since June.

There are way too many coin and the vast majority are just useless clone with a stupid cloned name such as darkcrapcoin, litecrapcoin, bitcrapcoin, blackcrapcoin and so on. The only reason for these coin to exist is the premine dev can dump (or the ICO dev and p&d accomplice can pump and dump...)

Before April, there was mostly 2 new coins per week (things started to get stupid during Easter holidays), now it is 2 new coins everyday. I am not even looking anymore to announcement, and not mining any of these either...

only a few good coin were produced during that time and they aren't the most successful either... which is kind of sad

Disagree.
I make btc only with shitcoin. I need 10 altcoin a day. If you re a good trader,you could make profit. Much.
I stop  mining rig and starter to trade.

you are trading wind, and you are good at it. great... but this clearly has nothing to do with crypto, and if crypto is that for you, I think you are in the wrong place and the reason why nobody is making decent profit.
While you are making a few dollars with your trade, if the market was less saturated you could make a lot more...
as some said, you are short sighted...

[xmasdobo]

Monero has a point to exist as internet cash, Bitcoin can't be as anonymous.
The rest are speculative assets mostly.

[djm34]

Monero has a point to exist as internet cash, Bitcoin can't be as anonymous.
The rest are speculative assets mostly.

lol it took 15 post, before someone posted an ad for the coin he is holding 

[astrobitcoin]

altcoins are useful to embrace and develop new ideas and solutions, an alternative to the more stable / known bitcoin network

then human greed ruins most of them

[runpaint]

Are altcoins, in general, worthless and pointless?

Yes.

Congrats on being a Full Member of something that's worthless and pointless.

But 17 of my coins just got delisted at the same time on one of the exchanges. 

If cryptos are truly decentralised then they should be indifferent to being or not being exchange listed....no?

Yes, but even Bitcoin needs places that buy and sell it, until more people accept it directly.

Without first being on exchanges, Bitcoin might never have been accepted directly.

Who do you think is ahead, you or the guy who bought $28 worth of Bitcoin and sold it for $700,000?

hmm an example of this happening ? (not belonging to BobSurplus scam ?)

Are you unaware of the fact that Bitcoin went from less than 1 penny to over 1000 dollars in 4 years?
Here's the example I was talking about:
http://gizmodo.com/man-forgets-about-buying-27-of-bitcoin-is-now-worth-a-1454150399

But most people seem to agree that the only value a coin has is the value it has RIGHT NOW.

I think you're confusing value with price.

I think you're confusing other people confusing value with price with me confusing value with price.

[djm34]

Are altcoins, in general, worthless and pointless?

Yes.

Congrats on being a Full Member of something that's worthless and pointless.

But 17 of my coins just got delisted at the same time on one of the exchanges.

If cryptos are truly decentralised then they should be indifferent to being or not being exchange listed....no?

Yes, but even Bitcoin needs places that buy and sell it, until more people accept it directly.

Without first being on exchanges, Bitcoin might never have been accepted directly.

Who do you think is ahead, you or the guy who bought $28 worth of Bitcoin and sold it for $700,000?

hmm an example of this happening ? (not belonging to BobSurplus scam ?)

Are you unaware of the fact that Bitcoin went from less than 1 penny to over 1000 dollars in 4 years?
Here's the example I was talking about:
http://gizmodo.com/man-forgets-about-buying-27-of-bitcoin-is-now-worth-a-1454150399

It did work because it was new and there weren't hundreds of coin at that time, in the current situation it wouldn't work, bitcoin would just die 3 months after launch...

Again it worked for ltc and drk because they proposed something new and were launched in a time where a lot less coin were created.
Right now, with too many coin, people are just gambling (like fabula) not investing. They are playing roulette betting on the "red"... so sometimes it hits "red" and makes some gain... but clearly this doesn't profit to any coin

[kekek]

Altcoins only have one purpose, and that is to get more BTC. It's easier to mine a shitcoin on day 1 than it is to mine bitcoin, and chances are you'll make more btc in the long run, so long as you dump it as soon as it gets put on an exchange.