Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Halidma on January 04, 2024, 05:02:43 PM
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Welcome to Altcointalks, Please take a moment to review the forum Rules (https://www.altcoinstalks.com/index.php?topic=114978.msg685127#msg685127).
Regarding your question, an altcoin, also known as an alternative cryptocurrency, represents any digital currency other than Bitcoin. The market has witnessed intense competition among various cryptocurrencies. Despite significant price differences, Bitcoin remains distinct from altcoins. Altcoins can be considered as alternative coins for those who feel Bitcoin is beyond their reach or those who see equal potential when compared to Bitcoin.
While some altcoin projects have demonstrated strong performance, making direct comparisons with Bitcoin is challenging due to the big difference in price. Cointelegraph might offer courses covering adequate information on this subject. Do well to make your own research.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Since you are new here, you will slowly learn a lot of this forum and discuss altcoin in detail here. First you know about bitcoin then everything else except bitcoin is altcoin. Hundreds of altcoins including Bitcoin are discussed in this forum and if you want to know about all those new altcoins then you can visit different sections of this forum like Ethereum, BNB, Polkadot, Solana, doge coin, Shiba Inu, ripple, Litecoin, Bitcoin cash, etc. Including hundreds of popular altcoins are discussed regularly. For more details, you can visit the altcoins section,........ thanks.
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There are many ALT coins in the market it is very difficult to get an idea about all the coins and know well about all the coins so you don't need to know about all the coins there are some important coins you should know about them. If you want to know about the ALT coins in the market, the first ALT coins that will come up are Ethereum, BNB, Polkadot, Matic, XRP and other coins. At the beginning we need to know about this coin. The easiest thing to know about ALT coins is that these coins are heavily dependent on Bitcoin. Bitcoin Price Changes The value of these coins fluctuates a lot so if you have a good understanding of Bitcoin then it will be very easy for you to get an idea about these coins. If you try to learn slowly, you will surely know about these coins in the market.
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Welcome Halidma, Altcoin refers to any cryptocurrency other than Bitcoin. As every body know that bitcoin was the first cryptocurrency and remains the most well known and valuable coin. After success among crypto community the idea was generate to launch other coin and thousands of alternative cryptocurrencies have been created since its inception. Each of these alternative coins operates on its own technology and working on various purposes.
Altcoins can include a wide range of digital currencies, such as Ethereum, Ripple, Litecoin, and many others launching daily. They differentiate themselves from Bitcoin by offering unique features, functionalities, or use cases. Some altcoins are designed to improve upon certain aspects of Bitcoin, like transaction speed(Litecoin ,Tron ) or privacy(monero and other privacy coins)while others may have entirely different purposes, such as supporting DApps, AI and gaming based tokens.
altcoins provide alternatives to Bitcoin where each token with its own set of characteristics and goals, contributing to the cryptocurrency ecosystem.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies, and token. Could you provide further insights into this concept?
Take note in addition to some posts above altcoin is not a token and cryptocurrencies talk about Bitcoin and altcoin, not included are tokens and NFTs these are not cryptocurrencies but tokens/NFTs from cryptocurrencies.
Altcoin is a combination of alternative and coin, not a token or NFT.
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Welcome to altcointalk mate
Altcoin as the name implied alternative coin, I'm pretty sure you have came across alot of altcoins because all coins are altcoins except bitcoin. So we have various types of altcoins and most altcoins are good for investing mostly with proper research and you are in the right place to know or should I say learn more about altcoins.
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Op altcoin is a popular term and if you are want check the meaning you can check it in the Google Search Engine to see the comprehensive meaning of the term with just a typing. But if you must know from the forum users. "ALTCOINS IS ANY CRYPTOCURRENCY THAT IS NOT BITCOIN". And as you said, it is an alternative coins to Bitcoin.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Not difficult or technical to understand. The first coin and which is the mother coin is the Bitcoin. Then, any other coin which is not bitcoin is called an alternative coin. Yea, because it is an alternative to Bitcoin. I think there is no much thing hidden that you would want to uncover in the meaning of Altcoins.
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OP, a different explanation has been given to you on what altcoin is all about. In addition to that, altcoins are decentralized. Meaning that can be controlled and they follow the lead of bitcoin. If bitcoin increases or decreases in price, they all do. Less I forget, they are not good for long term investment plan but instead for short term.
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As you are new to altcoin forum I would suggest you try to know this forum well first. First you can learn about Bitcoin here. Because Bitcoin is an early stage coin in Cryptocurrencies. Coins other than Bitcoin are essentially altcoins. If you want, try to learn about BNB, Solona, Ethereum etc. coins slowly. In this way keep gaining knowledge about these coins regularly.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
The simplest explanation is, that BTC vs ALTs, means there are two types of cryptocurrencies, one is BTC --> the Bitcoin and the second is ALTs--> alternative currencies, like every cryptocurrency other than BTC is alts. And there are more than 20 thousand alternative currencies in this world. And the numbers are still increasing. In reality, the amount is more than 20k.
Well, if we talk a little bit about their importance and why competition they have with BTC, then the only things that come to mind are diversification and more doorways. Because sometimes BTC is not following the way you want it to, and sometimes it is not what you are looking for. So there was plenty of room for other projects (alts) to come into the market and they started to be called as ALTs.
Altcoins are also of two types one are tokens and one are coins, the ones which have there own blockchains are known as coins and the tokens are without there own blockchains they rely on other's blockchains. Altcoins are risky as they are directly or indirectly influenced by the price of BTC. That's why I call BTC the king.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Hi, dude.
I'm surprised that you directly ask about it here, you don't google first, right?
Altcoins is those coins who are created as the alternative of Bitcoin. Bitcoin is the main coin in crypto industry. All the coins besides the Bitcoin are named as altcoins. I think you need to read more explanation to have good understanding. Please read the further information here https://cointelegraph.com/learn/what-is-an-altcoin-a-beginners-guide-to-cryptocurrencies-beyond-bitcoin
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Hello, welcome
Altcoin is Alternative coin, this is the cryptocurrency beside Bitcoin.
Here is the completed info:
https://www.investopedia.com/terms/a/altcoin.asp
You may see numerous altcoins as listed on here:
https://coinmarketcap.com/
See, all cryptocurrencies that are not Bitcoin belong to altcoins. And actually there are still many other altcoins that are not listed on this site.
The is also difference between coin and token.
Please read this:
Coins are cryptocurrencies belonging to a blockchain. They are independent of other chains and cannot be used on other chains in their native form.
it is different with token:
Tokens sit on top of an existing blockchain and depend on it for their operation. A token can represent various things, such as utility, governance rights, shares of ownership or others.
Here is completed info:
https://coinmarketcap.com/academy/article/coin-vs-token:-what-is-the-difference
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Just like in the normal business world, there is always that competition thus we can see many alternative products and services apart from those offered by leading firms or financial institutions. Take for instance the banking industry...we have big names in that industry and yet we also have small players doing business and offering services to the community they are focusing on. Now the same is true with cryptocurrency. Though Bitcoin remains to be the undisputed King of all cryptos there are now many "altcoins' also doing well in the marketplace specifically offering their own set of unique use-cases and servicing markets they carved out for good. And yes, we are producing new altcoins from time to time as many would also like to stash a slice of pie of the crypto market and though majority of them will not make it still there will be some that can withstand the test of time and be recognized as a good player in the industry. With their immense potential for growth and profit, we should always be careful with investing with any altcoin as there is no guarantee in here...everything comes with big risks though rewards can also be quite possible so balancing the two concerns is imperative.
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In regards to what others have said, you should know that Bitcoin was the first crypto which also the leader of every other cryptocurency. So, altcoin is the name that is used to classify any other cryptocurency that was created after Bitcoin was created. You can refer any other coins as an altcoin but when you are talking about Bitcoin be specific with the name.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
i think you've said it already, altcoins means alternate coins or cryptocurrencies and the exception in these is only bitcoin, you can refer to all of them as cryptocurrencies but alternate coins exclude only bitcoin from their midst, the whole idea is just for you to get the meaning behind the use of the two words in concept and that's all, it can be called altcoins or alternate cryptocurrencies.
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i think you've said it already, altcoins means alternate coins or cryptocurrencies and the exception in these is only bitcoin, you can refer to all of them as cryptocurrencies but alternate coins exclude only bitcoin from their midst, the whole idea is just for you to get the meaning behind the use of the two words in concept and that's all, it can be called altcoins or alternate cryptocurrencies.
We can distinguish between three types:
Bitcoin is the main coin.
Altcoin: which consists of all independent cryptocurrencies that have a blockchain and an integrated system for financial transactions.
Tokens: which are coins, but they are not independent and do not have their own blockchain or independent system. Rather, they depend for their existence on the blockchain of major alternative coins, such as tokens operating on the Ethereum, Binance, or other networks.
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Before telling you details about Altcoin, I wanna ask you that do you know Bitcoin?
Bitcoin is the first cryptocurrency, And as an alternative to it, after the three years invented of bitcoin in 2011, it was created the first altcoin, And the coin name is Namecoin (NMC). In the beginning, alternative coins were not so much as they are now. Currently, there are more than twenty thousand altcoin projects. And among the alternatives, there are several types such as meme-coin, stable coin, utility token, etc. For more details you can read this article- What Is an "Altcoin"? (https://coinmarketcap.com/academy/glossary/altcoin)
Now if you want to invest in cryptocurrency, then I would say that instead of investing in altcoin, you should take a long-term strategy and invest in bitcoin, because investing in altcoin can be a victim of scam. Because if you see Luna crash in 2022 then FTX incident these will serve as warning message before investing in altcoin. But if you are more interested in investing in alternative coins, you can choose from top pairs such as Etherium, Solana, Lite-coin Polygon(matic).
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Omor am overwhelmed with the different explanation from all of our senior man here about altcoins talk, truths be told I really learn alot from your explanation thanks to you all, am new in this forum and I was thinking altcoins it a project on it own not knowing it has a senior brother which is bitcoin where he benefits from it,
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I'm new to the system, and as far as I comprehend, the term "altcoin" is a blend of two words: "alternative, crypto currencies and token. Could you provide further insights into this concept?
Altcoin is alternative cryptocurrencies other than Bitcoin. So any coins or tokens other than Bitcoin are included in Altcoins. Altcoins can be meme coins, stable coins, privacy coins, exchange coins, and various other types of coins and tokens. There are many altcoins and you have to be smart to choose which altcoins can really survive and develop. Oh yes, you can visit the site https://coinmarketcap.com/ to find out which coins are ranked on that website.
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It's not wrong, that's what altcoins are, an alternative to Bitcoin.
Bitcoin is the strongest cryptocurrency today because it was a pioneer and early adopter. But that doesn't make everyone like Bitcoin. So altcoins were born to complement some of Bitcoin's shortcomings. Some people like this competition between altcoins, so I consider altcoins to be the best complement to Bitcoin. Everyone certainly doesn't agree that there is a monopoly on the cryptocurrency market.
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Altcoin is alternative cryptocurrencies other than Bitcoin. So any coins or tokens other than Bitcoin are included in Altcoins. Altcoins can be meme coins, stable coins, privacy coins, exchange coins, and various other types of coins and tokens. There are many altcoins and you have to be smart to choose which altcoins can really survive and develop. Oh yes, you can visit the site https://coinmarketcap.com/ to find out which coins are ranked on that website.
With Altcoins you can use them to grow your Bitcoin assets. At least the important coins in cryptocurrency remain in Bitcoin. Even though Altcoins currently have very high development and are widely used by people, cheaper transaction costs with high speed are a consideration. important for altcoins.
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OP, a different explanation has been given to you on what altcoin is all about. In addition to that, altcoins are decentralized. Meaning that can be controlled and they follow the lead of bitcoin. If bitcoin increases or decreases in price, they all do. Less I forget, they are not good for long term investment plan but instead for short term.
OP may have thought that ALT coin is a coin but if OP thinks that then he is wrong because all other coins except bitcoin are generally considered as ALT coins. ALT coins include some coins that are more important than normal coins in terms of popularity value and other aspects. Just like ALT coins have bitcoins, ALT coins have many good coins that investors usually invest in. If the OP is interested in knowing about any coin, he should have directly mentioned the name of a specific coin. When the OP mentioned a specific coin we could discuss that coin in detail but it is not possible to discuss all ALT coins in the same post.
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OP may have thought that ALT coin is a coin but if OP thinks that then he is wrong because all other coins except bitcoin are generally considered as ALT coins. ALT coins include some coins that are more important than normal coins in terms of popularity value and other aspects. Just like ALT coins have bitcoins, ALT coins have many good coins that investors usually invest in. If the OP is interested in knowing about any coin, he should have directly mentioned the name of a specific coin. When the OP mentioned a specific coin we could discuss that coin in detail but it is not possible to discuss all ALT coins in the same post.
You have explained it in detail about Altcoins, I think OP also understands.
But besides Altcoins there is another under Altcoin that is now being hyped, namely Memecoin, or shitcoin which does not even have any utility.
There are NFTs (Non-Fungible Token) which are digital assets that can be used as proof of ownership of items that can be purchased with cryptocurrency.
NFTs cover various fields such as artwork, video clips, music, games and so on.
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So altcoins were born to complement some of Bitcoin's shortcomings.
I don't know if i will call altcoins that, i probably won't because i don't really believe in diversification, that is buying BTC and a lot of altcoins to see which one is going to give you profit. Even if you don't want to put all your eggs in one basket, i would recommend you buy BTC and then real estate, silver, etc; that is because these assets are not linked to BTC.
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So altcoins were born to complement some of Bitcoin's shortcomings.
I don't know if i will call altcoins that, i probably won't because i don't really believe in diversification, that is buying BTC and a lot of altcoins to see which one is going to give you profit. Even if you don't want to put all your eggs in one basket, i would recommend you buy BTC and then real estate, silver, etc; that is because these assets are not linked to BTC.
Your suggestion contradicts itself. You have stated that you don't believe in diversification, but in the end, you recommend investing in BTC and other assets such as real estate, and so on. This strategy was also considered as diversification as you are putting your money in different assets that can give you profit in the long run.
Also, from what I understand from the above statement, I think what he means by that is that altcoins were created with the features that Bitcoin does not have. It means altcoins can give satisfaction to some users who are looking for another use that they can't find in using Bitcoin.
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Altcoins are generally defined all cryptocurrencies in other than Bitcoin
In term of used to describe all cryptocurrencies other than Bitcoin BTC o .39% from the fact that they re alternative to Bitcoin and traditional Fiat money. The first altcoin launched in 2011 and by now there are thousabda of them