This guide is to help you learn what you need to know about alternative cryptocurrencies.
Life in Altcoin City has its up and downs. Strangers to these parts can find themselves in all kinds of danger if they're not careful. This Wiki should help familiarize new people to what's going on in this part of the world.
Alternative Cryptocurrencies face many challenges. The most notable risk is that the Cartoon Coin Dev who started the coin will disappear. Creating and launching an altcoin from the Altcoin Launching Pad is easy. It's so easy, in fact that nearly everyone can do it. Most altcoins are copies of existing code bases. Some will change basic coin configurations while others introduce new features. Innovation is the area of altcoins from a technical standpoint has been relatively rapid. However, mass adoption still lags for nearly every alternative cryptocurrency.
It's understood that Bitcoin has become so valuable because it's used by a large number of people. Alternative cryptocurrencies have not nearly as good of a job as Bitcoin in attracting usage. Most altcoins are supported by small groups of people. Rather than band together to form larger, more cohesive, and more powerful units, the average altcoin project stubbornly chooses to 'go it alone.' The amount of market fragmentation and dilution in altcoins is staggering. Due to the low cost of development and low barriers to entry that trend is unlikely to stop.
It's very common for newer coins to get funded via ICOs. The Dev is paid upfront for work that will be performed later. In multiple instances these ICOs have been abused for quick profit and the Dev has failed to deliver anything.
It pays to understand who the market players are in altcoins.