cryptocurrency forum

Why we need altcoins ?

Discussion in 'General Discussion' started by bebars, Jun 11, 2018.

  1. bebars

    bebars Contributor

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    There are too many reasons, why Bitcoin is not a suitable universal currency even for internet, although it is a great thing and a huge step towards society progress.

    1. Bitcoin transaction fees are prohibiting for small transactions. There appeared some altcoins which are better for that.
    2. Even with Lightning Network and many other existing and upcoming developments, both the tech design and the economic model of Bitcoin won't let billions of low cost transaction per day. There appeared some altcoins which are better for that.
    3. Most transactions in Internet require customer protection and hence refundability. And Bitcoin is not great for that. There appeared some altcoins and services which are better for that.

    And this list could go on forever, but it is easier to learn about many different use cases of altcoins. For every proper altcoin you can find out the reasons behind it's idea.
     
  2. Adriana Lowe

    Adriana Lowe Beginner

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    With so many different altcoins out there in the market, I would say the "good" coins would be those that actually improve capital flows.
     
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  3. bebars

    bebars Contributor

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    Tokens that are related to companies that provide good , new and in-need services will have a great future
     
  4. veiuvo

    veiuvo Contributor

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    it is for alternative payments or income
     

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