@rkj123
9 months ago

Are most of altcoins a scam?

Altcoins are cryptocurrencies other than Bitcoin
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Not all but yes there are too many shitcoins in the market. Specially in 2018 more than %75 ICO's turned scam and their coins is worthless now..
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100% most alt coins are complete scams - They are tokenizing everything just to make money . 95% of these specialized tokens could just use bitcoin or XLM instead of making their own token for one small thing.
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Altcoins are not Scams but Majority of the Ethereum Tokens are issued to conduct ICO and to collect money from Public.

Why do we Feel Altcoins are Scams??

In 2019 Today this time we can Only Identify 20 to 40 Blockchains which offer Different Techs and Some to Overcome Disadvantages of Bitcoin. But there are Chains launched which don't have much Change in Tech but are launched only for making Money.
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Yes, many but not all. Before you choose to invest in altcoins you must carry out serious investigation on such altcoins.
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Definitely scams making people loose trust
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The vast majority are scams for sure

#Bitconnect
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Most of the altcoins are just raising money for a project which has no use case and no working product and tokenizing everything, they can use Bitcoin instead of issuing their own tokens.
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A big yes... I've lost money to some fake altcoins
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Unfortunately yes..
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Most are aiming for easy money
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