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Originally Posted by djroof
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LOL.
Imagine buying bitcoin right before the US gov't takes a $5 billion shit on the market
Quote:
Originally Posted by $5 submissions
Serious question: is there any REAL use case for ALTcoins?
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See sig for one example. Blockchain based community bank.
All of the real advanced development is going on in DeFi. Sure, it's filled with scams and failed ideas, but there are some real gems in there as well. Smart contracts are the way ahead; in the long term simple "dumb" coins are passé and have no reason to do anything but lose market share as the field evolves. There's also a ton more info easily available in DeFi for traders; centralized exchanges pull all kinds of shady shit that is much more difficult to hide when everything is fully transparent.
The biggest problem that the wider crypto market has, ironically, is Bitcoin. Not saying that to slam BTC, but it's just the way it is; a lot of people made their fortunes in BTC and now they use BTC deposits to create leverage for use in DeFi, so every time bitcoin drops they have to close out their leveraged positions to pay back their loans. This ends up causing a chain reaction which leads to the entire crypto market tending to move as one.
The best thing that could happen to crypto is for people to spread their investments out over other coins, any other coins. Don't really see that happening anytime soon, next best thing is to invest in something with a lot of stablecoin liquidity to back up the price.