Post
Topic
Board Altcoin Discussion
Re: Too many Altcoins without value?
by
Satish147
on 04/08/2018, 10:30:30 UTC
Maybe it's just my perception, but in these times when new coins appear every day, it seems to me that most of them lack value.

I have seen that many currencies are created based on an idea, that they intend to be used for something, even though at present they are useless, they are based on the hope of being used. I hallucinate seeing how some collect millions in the ICOs only promising that they will be adopted en masse, only selling an idea that has not yet been started or developed.

I wonder what chance of success has a currency that is defined as "the new currency that will replace Bitcoin" or any other great concept if only based on a theoretical idea.

Do you have to create the currency first and then wait for a community to be created that uses it?
Would not it be better to have a community first than willing to give the currency a real use before creating it?

I believe that for the creation of a new currency to make sense, it has to respond to a real need for the exchange of goods and services, if we only buy a coin with the hope of selling it more expensive, if there is not a community that supports it, We will be betting on a pyramid system, and we all know how those systems end.

That is just my opinion. I do not know what others will think.

Currently in Korea we are seeing Reverse ICO concept like the existing business who have userbase in millions are trying to raise money in ICO and they want to introduce utility token which can reduce the cost of their operating expenditure, this way will give potential returns to investors unlike investing in project having only whitepaper.

I would like to invest in project having whitepaper onlyI if the team is too strong and had enough expertise to build the project as what they are promising.