People say almost all altcoins are scams... some people say 95% whereas others say 99%.
Now we all know bitcoin isn't a scam because its a store of value and because you could cash it out for real money. The same can be also said of litecoin etc. With litecoin, to me its like the discount version of btc. But still its a way to pay or transfer funds to other people. ETH to me is where i'm perplexed. ETH on the other hand, its the platform where other coins use etc. If thats the case, why is ETH worth money? Why is anything besides BTC, Litecoin even worth money?
I will post a list of altcoins as examples
1. dash
2. monero
3. edgeless
4. funfair
5. shift
6. substratum
7. deeponion
8. electroneum
9. powerledger
10 Whitecoin, bluecoin
Now lets look at the altcoins. Some coins do make sense that its worth money because the have a purpose. Dash is digital cash so to me, thats like btc/litecoin. Monero on the hand is a privacy coin. So why is a privacy worth anything? Now lets look at a coin like edgeless and funfair. These are casino coins. I understand why they are worth money because their business is an online casino. Thus if the online casino gets more customers and make more profit, those coins are worth much more right? But what does confuses me is for people to play at the edgeless and funfair casino... first off... has the edgeless casino even opened yet? The funfair casino already has right? So basically for someone to play at the funfair site in the casino and those other online gambling games, they are basically playing with funfair coins. Can someone confirm this? If yes, this makes sense why its worth money. If not, what are these coins worth money?
Now here's a few i want to talk about. Shift and substratum are coins where they are looking to dencentralized the web. Im not sure exactly what that means but i believe its to make it more private right? So basically the web is not private even if you use something like vpn or TOR? I never used TOR but i heard a lot about it. So why would owning coins like shift and substratum even go up? If the internet gets decentralized by one of these, then these coins are worth a lot? If so, why would the price even go up? I have no idea why it. Can someone explain why? I heard lisk does something similar. But why would these coins go up in value?
Also coins like deeponion and electroneum. People talk a lot about them. But what are the purposes of these coins really. Why is it worth any real money is my big question to all of this.
Also a coin like powerledger which had people talking about it because its backed by the Australian government. Can someone explain why this having to due with solar power has a purpose? What confuses me is this solar power they talking about... is it related to online or real life?
Also there are coins like whitecoin, bluecoin, greencoin etc. Are people just making up names for coins or something? What is even the purpose of coins like this? There's a coins like faircoin and noblecoin as well. I mean what is even the purpose of coins like this. I mean can't i just create a coin called jerry coin or something and then say the purpose of this coin is ... then you make something up?
But even for those coins that are in the top 50 that are not BTC, litecoin, dash etc... what is the purpose of these altcoins? Why are they even worth real money? Yes you can sell these altcoins for btc and then sell it for cash and it hit your bank account. But i dont really understand why any altcoins that isn't like money worth anything. Like why is ETH even worth anything when its a platform?