Bitcoin Forum

There are so many coins being created it's a job to keep up and try to get in while they are still mineable... In a month will there be 50+ altcoins? I was happy with new coins being created, but is this too fast and too overwhelming?

dont worry, lifespan of a new alt coin will be less than 2 weeks :)  Since its used for manipulation and only, and since everyone knows that early adopters will make some profit, its just a game of"phew i sold and im not trapped" thing. They will get over it in time :P

In the meanwhile, play and enjoy the game :P

If alt coins are coming out everyday, they will get over-saturated, meaning only good alt coins will start to stand out, the clones will be ignored.

As I always said and will say again - Competition is healthy, bring on the stampede!

as long as there is a market they will keep coming.  

Yes I think we are already to that point or maybe just beyond it.  Feathercoin got a good response but not sure about what comes next.

survival of the fittest

Next comes a long list of dead coins in altcoin overview.

Being an open source project anyone is welcome to create their own new coin. Unfortunately, many do. There is no need to try keeping up with them. Most are just somebody's coding project of the month.

Bitbar: Still confused what bitbar is.

BBQCoin: I thought this shit was dead, back from the grave, Mined for fun and now it's too hard to mine.

MinCoin: Like the idea of small block quantity, mined for a while. Got too hard to mine.

Feathercoin: nothing new, mined for a bit because it got good reception. Now too hard to mine.

Chinacoin: Couldn't get anything to work, mined nothing. WTF.

YaCoin: Awsome idea to mine with only CPU, now too hard to mine. All my blocks are orphans. A little complicated to tell if it's mining and hard to set up.

JunkCoin: WTF I was asleep, too late to mine... starting to lose hope.

RoyalCoin: OK only a couple hours late. No blocks, confusing as shit to get the wallet to sync...

...

...

Back to BTC/LTC?

Altcoin mining is now a fickle and confusing hobby.

If you believe 2 weeks lifespan for every new altcoins why did you create pools for each one?
Just curiosity.Thanks

To make money ofcourse. Couldn't think of that yourself? :/

I think there is the same person behind all these new alt coins.. he just create a new user, and spend 1 day programing the new shitty coin until release.

Free market in action + open source style evolution.

There will be more...

BTB, YAC, BQC, RYC. MNC are all going to be but a memory in less than 2 weeks.
All the altcoins launched in the last week have that in common. Of course they also have in common that they are launched by JR members for pump and dump to idiots who actually MINE a coin that starts out with a block reward at diff 0 that is 100x+ more for the first few hours then the rest of the week.

Well said, went something like that for me:

BitBar: Dumb, overhyped, why the hell anyone would think changing the name from "coin" to "bar" would make it more valuable is beyond me. FeatherCoin/CHNCoin/BBQCoin/JunkCoin: loved it, got in early mined a bunch, sold out quickly at under market rates and enjoyed the ride. RoyalCoin/YAC: Didn't get in early, mined a few coins for practice, won't mine anymore. BTE/Mincoin: Interesting, like these two, still mining the latter, holding a few of the former.

Hope for these alts gets more and more dim with each new one. I enjoy mining and trading, but BTC/LTC are in it for the long haul.

Bitbar will only ever have 2800 bars/coins, that's why it's almost reach parity with BTC already at bter.

2800 total ever? That's pretty low--almost too low, in fact its ridiculously low. And I thought MNC/SMC had small block rewards.

BQC was not launched in the last week, inform yourself first before posting.

ask yourself what coins do people selling all these alt coins want?

yea... btc and ltc. the rest people want to get rid of faster then their STD.

Quick, someone create a pure clone of litecoin with 300 coin block rewards, starting diff of 0, and retarget every 10080 blocks. You'll get rich with your pump and dump!

screw that make a litecoin clone with a 50,000 block reward with a milisecond block generation.

Otherwise known as the US Federal Reserve and the dollar.

LOL +1

It is getting a bit silly I cant update my website fast enough!

(Bitbar is missing ATM and i would like to ad YAC as soon as there's an exchange with API)

The time to get in on them will be after all the pundits pretend it is dead, the difficulty drops down to where CPUs can mine it very nicely, and you can rake in the coins for a year or more just like happened with BBQcoin and is still happening with various other coins.

These newbie coins just add more onto the end of the list of coins to eventually get around to when last year's bunch are back on exchanges paying off handsomely like BBQcoin currently is.

-MarkM-

But the message still stays the same. Longevity may be slightly more for BQC since it was launched when one coin was popping every week instead of days.

Simple empirical formula: If its a copycat coin with premining.

Longevity of the coin in months = 30 / number of coins launched in that month

more to come my friend.. Very soon

WHEN???? WHEEEENnnnnnnnNNNN?????

My coin is almost done aswell haha.

Franko is the future!

Creating a coin is one thing, supporting a coin and working with a community to help make it useful is an entirely different piece of the puzzle.

Lol, I got you right! This is causing the crypto industry unstable due to all open source project bring out too shitty coin every day,i hope some day policies will be in place to reduce all this to have better system.

Wow ! Theme created in 2013. Then people were surprised that 50 altcoins is a lot ! Now they have more than 2 000 coins and the number is growing rapidly I wonder what will happen after 6 years again.

I think it is not coming anymore. I remember that there were lots of project coming a year ago.

Market is shakening and new project is affecting from it. But I don't think it will keep going. ICO's age coming to the end. We can see great results soon.

This figure may increase several times over the year. The normal phenomenon is the very rapid development of tenology. More and more people are trying to realize their ideas through fundraising; therefore, coins become more and more every day.

You are right, this is definitely too overwhelming and you should always pay attention to the quality of a project, because each days two new coins are launched and only one coin per month gives some profit.

More than 90 percent of these tokens are garbage, so it's hard to say that I'm happy about them.

I think we need to start regulating the release of new coins because there is nothing in such a huge amount of useless coins.

It is difficult to follow all the altcoins as there are so many of them. On the other hand competition is healthy and the market will take care of shitcoins anyway.

Man, remember when having 50 altcoins was considered something to be concerned about? Now we get 1000s of new things to buy a day. lol.

There is nothing to worry about because these altcoins are still operating like that in this market. The constant emergence of new altcoins can lead to oversaturation in the market. With a growing number of projects, it is important for altcoins to differentiate themselves and offer unique value propositions in order to stand out. There must be healthy competition, as it encourages innovation and motivates altcoin developers to improve their services. As more projects compete for attention, this leads to the creation of better products, services, and technologies. This will benefit the entire cryptocurrency ecosystem and its users.

there are natural elimination that usually occurs, doesn't matter if each day there are thousands of new altcoins generated they aren't gonna have liquidity or even someone that gonna buys them.
at best they'd just become waste of space, the one that matters are the one that have quality and innovations.

It is very simple to create Meme coins, anyone can do it, and since most people are greedy by nature they want to create their own tokens, I read somewhere that the creator of Pepe coins had earlier created 4 Meme coins that were not successful before Pepe coins. Up to 50 coins are created per day if you combine all the blockchain and I have a feeling we are just starting

While the increase in the number of altcoins offers opportunities for investment and mining, it also presents challenges in terms of tracking and making decisions. Concerns over accelerating coin creation are valid, as it can lead to an extraordinary market landscape with many options. The rapid proliferation of new coins in a short period of time raises questions about the sustainability and potential consequences of such exponential growth and that's for sure. our task is to select and choose which rooster. if the chicken is cut, don't enter. It's easy.

Every day crypto currency will always increase mate,
shitcoin, top altcoin, memecoin, and even scam coins will always appear on the crypto market,
if you look at the number of cryptocurrencies listed on Coinmarketcap then you will know the answer haha ;D,
so don't enter new altcoin that according to your heart is not good.

Most of those coins are dying in a few weeks anyway. I'm not wasting my time on that, it's better to watch the projects with at least some lifespan, good developers, and some usefulness.

The market is decentralized and that gives everyone the privilege to create as many coin as needed. The onus is on investors to test all projects and know the ones that are worth your money. People earn relatively very high in this industry and the possibility of loosing is still very high. We are all called to be responsible for our financial decisions and DYOR.

I think when bitcoin price goes up all coins go up in value.  But altcoin is more important coin than memecoin.  Investing in MemeCoin has no chance of making much money and there is a chance of losing money.  But if you invest in altcoin at the right time then you can get a lot of profit. So think carefully before investing and then invest.

Just for the record, this thread is open up 10 years ago, so it's quite surprising that eve in the early days of altcoins, there have been a lot already and investors like the OP is very overwhelm with 2 in day.

Lol, so just imagine if the OP is still very active in this community and seeing that after 10 years, the numbers have grown tremendously, and we really can't keep up with the numbers like every day. And to that point wherein it is really saturated and that most of this projects are just simply for pump and dump. And the only people making money are the devs and those groups.

I don't know them that much, because perhaps my criteria for crypto projects are also different, there are things that people are confused about in this space and I have never considered it as a project. Complete project in the crypto space.
To be honest, some of the products that I've seen only need to pay to hire the entire production process for a project, all you need to do is choose your own brand, and that's it. I think the number of new projects appears a lot. Nowadays, easy access to social networks as well as participation in the cryptocurrency market is also very open, causing this environment to appear many negative problems, but it is also impossible to forget that the cryptocurrency market is changing. growing stronger over time.

We can have more than two coins in a day being liquidated on a row whereas still have some time intervals space before having any experience of such, i want to believe that even right as we speak like this there are many more about to be launched into the market and those already in the market striving to stay, we cannot be sure of what they are all upto, sone may ended sooner the unexpected way while some may manage their way to remain depending on the developers and it's investors.

Most of those coins are from the same owners of those shitcoins because after they successfully cammed their innocent investors, they will create another same project with different agenda but their goals are the same they just made another pump and dump coins which will go to become hype for short period then they will going to dump the coins and the cycle goes on. as long as they know they have some people who still believe in their fraud they are not going to stop making such coins because they're making money. they only improve their way of fooling their victims.

Smart people compare a good investment to a long journey. If you want to make money on the manipulation of new coins that will die in a month, then working in this market you will not get investment experience. It's just a game of chance to win, but only the casino earns in gambling.

Currently, creating a cryptocurrency is no problem. Another issue is to create demand for such a product that will provide value. Unfortunately, as long as people fall for various scams or support various pump & dump groups just to earn a few cents, this problem will only grow. Of course, most of these "projects" will die a natural death soon, but such actions are definitely not beneficial for the entire cryptocurrency market and is a great excuse for governments to introduce further restrictions "for user safety"

They just dump their old created token then move to new one since this is more profitable to have by those scammers than maintaining their old creation. So we need to be aware on this since if we think we can outsmart those scammers they know the other possibilities and for sure they dump first before us. That's why its better not to invest on clear shitcoins because for sure there's no good will happen on our investment and only those scam devs will earn on this schemes.

I just realized after going to the OP's main page and it's been quite a while, so considering that back then coins came 2 altcoins from 1 day then it's very reasonable and crypto is still not growing as fast as it is today.

Now it is even more uncountable because every day new coins will appear that are made for their benefit and indeed with pumping and disposal now it has become commonplace, it is even overwhelming if you pay attention to the altcoins that never stop coming and going.

In this fast changing context, evaluating variables such as the project's team, the technology involved, market demand, and long-term viability may help individuals make educated judgments. The growing number of cryptocurrencies may reach a saturation point, making it harder to distinguish between genuine initiatives and those with dubious objectives.

In the crypto market, scammers are rapidly creating coins, but it's common knowledge that quality projects are not expected to emerge on a daily basis. Generally, only 4-5 projects gain recognition or establish a presence in the market within a month, while the remaining coins quickly lose value. To make profits from the crypto market, it is advisable to stick with reliable and high-potential coins.

Yep, in our current market situation, only few does really have a potentials  and those with potentials are being funded because investors see value in the project. Beside that, majority of the coins created are just for fun, to scam, experiment and not really meant to have a future value. Things changes in bull market, From the last bull market, we have seen the fundings of obvious scam probects since everybody want to be an early investor, they fake a big amount of risk even on project that doesnt have a potentials at all. In fact, there's a degen token called $SCAM that doesn't have any plans at all and the creator said that he is not expecting that the coin will have a lot of value. This is why we can see a massive uptrend on tokens created during bull market.

Yes, I think we've gotten to that stage.  The new coin got a good response but I'm not sure of its value. Many new coins have sprung up and disappeared in a short time.

That was how I was calculating before in coinmarketcap been how new coin's are being listed on the daily basis, that makes me to have a mindset of of many coins are listed but few are chosen, with that mindset have to make a research before investing in any of new coin's that just listed in the cryptocurrency market.

This has been a major concern for some of us on the crypto space, the rate at which new projects are coming out every single day making it a whole coins every single day. I agreed with your statistic of average of two coins per day, but I think there are more than two coins coming in onboard every day. The rate at which Africans are utilizing the crypto space is alarming and that shows a great development. This has become a major source of employment for the unemployed youth and lots of projects solving a problem faced by the world today.