What's the point of altcoins?

[Anonymous No.15787624]

Does anybody actually invest in AltCoins to use them? Looks to me like a bunch of circlejerking wanna-be FOREX traders investing in crypto fiat currency that nobody uses.

[Anonymous No.15787639]

>>15787624
you get the point
that is why they are call shit coin

they are just Bitcoin Copy #1, Bitcoin Copy #2, Bitcoin Copy #3, Bitcoin Copy #4... etc etec

[Anonymous No.15787641]

for jews to one day hope their centralized shitcoin becomes more popular that the only truly decentralized project bitcoin

[Anonymous No.15787701]

>>15787639

I thought /biz/ would be smarter than that. Appears its not so. Someone is running huge scams here and profiting off of peoples desperation. Might as well make a /biz/ coin and collect all the desperate wagecuck bux. Smh.

[Anonymous No.15787946]

>>15787624
Obviously majority of the people are investing for the money. But certain coins do have its uses. VID tokens for example, are by advertisers to pay users for advertising on their content. Its also attractive for normal investors cause it has 160x in 4 months. But there are of course tokens that does not make sense to exist

[Anonymous No.15788017]

>>15787624
Using Nano fairly often, other than that nah

[Anonymous No.15788028]

>>15787624
Bitcoin is slow, expensive and cant scale meaning it hits a transaction wall. Other coins solve these problems. Some are scams, some do everything better than Bitcoin and are already sold in the same ATMs, like Litecoin.

Now you know why there is literally no reason to actually buy Bitcoin unless you want to use it to buy other coins.

[Anonymous No.15788038]

>>15788028
>>15787624
In other words Litecoin might be 5% of Bitcoins market cap but only because 95% of people are too stupid to save money on the litecoin transactions, trading it for other coins on the exchange.

[Anonymous No.15788057]

>>15788017

Never have seen any places accepting any altcoins except for the major bit/lite coins other than just putting money into something that has perceived value but cant be used looks like a big scam to me. If I cant use it, and people keep investing in it, then at some point its gonna go down, right? So I dont understand the point.

If everyone is investing and nobody is using there has to be an implosion moment somewhere.

[Anonymous No.15788068]

>>15787946
nice, subtle shilling. proud of you.

[Anonymous No.15788128]

They are to provide the illusion of choice.

Many coins make crypto look thriving, a crowd attracts a crowd.

The goal is to get everybody off fiat, into crypto, crash the fiat economy and have a crypto class that possibly live in citadels and a nocoiner class that do not.

[Anonymous No.15788216]

>>15788128
But this sounds like we are moving from physical fiat currency into a digital fiat currency. Its just that its decentralized and anyone can make a shitcoin. Like a ponzi scheme.

Where coins from big providers for example like AWS will be valued more because of the stability it provides and smaller alt shitcoins will be used to dupe the population into investing... essentially ensuring that we are all slaves to the corporations we were trying to escape by creating crypto in the first place..

Ain't that the truth?

[Anonymous No.15788224]

>>15787946
post proof of 160x. That shit is not even shown on coinmarketcap

[Anonymous No.15789248]

Oh boi here we go.

Problem with 'investing' into altcoins is that we are under the impression that the project behind the altcoin is somehow responsible for "token growth" and/or that if the project demonstrates progress etc the token will grow organically, like a stock.

Problems with that common misconception:

1. Out of 10 projects, 4 are total scam; another 4 are just garbage, though devs at least do not intend to steal your money right away. 1 is ok but as usual in crypto, it's still in startup phase, so no revenue, no real exposure and bullshit like 'mobile app update from alpha to beta' will seem like a groundbreaking news for the near future. Finally, 1 out of 10 is decent, but see #2 and #3
2. When you buy a coin (even during pre-sale) you do not invest in ANY sense, except maybe into growing your ego. Coin/token don't give you any rights within the company, so all you can benefit from is coin price grow
3. Coin pumps are fucking random and are not related to project quality behind. It's all about MM and manipulation, but even if company wasted fucking 500k (which they could spend for actual development) for market making and "top exchange listing" it guarantees absolutely nothing, because MM can go rogue and good luck doing anything about it.

TLDR.
You do not and should not 'invest' into alts if all you care is quick buck. You can try accumulating coins of the blockchains that are really promising and are likely to become 'new eth' for real, sorry for the meme. Such projects can be Cosmos, Algorand, Perlin, Hedera Hashgraph. But it's a long journey, not your favorite "LINK 1000 EOY" fantasies

[Anonymous No.15789303]

>>15789248
So essentially we are just investing in our own egos because we failed as forex traders?

[Anonymous No.15789317]

Most of them are scams.
Like SAFEX, the biggest scam made in Serbia

[Anonymous No.15789334]

>>15787624
Altcoiners exist to take advantage of noobs that are new to Bitcoin and don't fully understand the tech. Their only goal is to spread misinformation and muddy the waters as much as possible, in the hope that some idiot will believe them and provide liquidity for their heavy bags. Faggots like this >>15788028 are a perfect example. They'll drop subtle psyops like "there's a lot of scams! but some are good" to make it look like they're on your side. Just realize that anything that's not Bitcoin is a copy and pasted scam, and you'll do very well.

[Anonymous No.15789483]

>>15789303
Kind of, I guess.
At least I saw a lot of people suddenly becoming 'very important' due to the fact that they are now "investor in blockchain tech" (bought $100 worth of some shitcoin in ICO).

[Anonymous No.15789760]

>>15789483
lmao. Yeah my college campus is full of them. Call themselves 'management' and issue important trade notices to npcs to make themselves feel important.

They bought into the scam.

[Anonymous No.15789865]

>>15787624
The legit reason to make an altcoin is to test alternate development strategies like the bloated on chain VMs ETH tested. They were fun for a while but now everyone who is paying attention knows why that's a bad idea in practice.
>>15787701
>Might as well make a /biz/ coin and collect all the desperate wagecuck bux
Welcome to 2013. At this rate in 2025 you'll figure out what's going on right now.