Bitcoin Forum

People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?

There is definitely a huge difference between the bitcoin and other(alternative) cryptocurrencies,the bitcoin may happen to be king, and the very first one in the market, but there shouldnt be any problem differentiating it from other shitcoins, as its value is far higher than any other cryptocurrency, I doubt if anyone can actually be confused about all this

And yeah I may not really fancy the proliferation of more and more coins daily,but it really does show how popular and wide spread this network is and is becoming,if you wanna be on the safer side though, stick to investing on the bitcoin.


People have always been indifferent right from day1 of the inception of this currency and that's not changing anytime soon,no great/good system abounds without negativity..

You have enemies?, good, that means you've stood up for something,something in your life---Winston Churchill.

Those who are new to crypto tend to get drawn towards Bitcoin, while most new altcoins only get noticed by users already familiar with the technology. It's difficult for these new altcoins to get exposure, so I guess those who are familiar with the ropes of crypto will find the new ones easier as opposed to beginners starting off their crypto journey with a lesser-known "brand". However, if for some instance that someone actually kick-starts their crypto adventures with an altcoin, chances are they will gravitate to Bitcoin as well. But all in all, I think Bitcoin and altcoins do their part in spreading the benefits of crypto.

i don't really know of anyone who actually thinks this way! i have read random comments on bitcointalk from newbies mostly trolling but everyone with half a brain can see existence of 2000 altcoins that 90% of them have absolutely no reason to exist doesn't mean "acceptance"!

this type of propaganda existed for as long as i know and will exist in the future, many shitcoins is only one of the excuses. it there were 0 shitcoins they would have used another excuse to bash  bitcoin.

Exactly lol. Since when was new coins and tokens being created fall under "acceptance"? Anyone can create their own token. "Acceptance", from it's literal meaning alone, means more of actual global adoption.

Hopefully I get what you mean: There are indeed a lot of bashing towards bitcoin, people saying ignorant rants like "bitcoin is outdated! bitcoin is slow! high tx fees!". This is mostly from people who don't know much about cryptocurrencies in general, thinking that tx fees and speed is the only important thing. Yeah, some altcoins has better speed and fees, but they're like A LOT easier to take down network wise.

Well, it looks like you are confused and don't understand why crypto is all about. Those shitcoins that's popping everyday will just die down. And as far as I know, bitcoin is the only crypto who has gain wider acceptance.


Blame the scammer and not the technology. Your argument is flawed because there's more scammer on fiat system so why doesn't you heard anyone bashing fiat then? If people will continue to bash bitcoin because its been used to scammed then let it be. There's a lot of advantages using it that will overshadow all the negative things you will heard about bitcoin.

the only drawback of new cryptocurrencies these days is that they are bloating the market up and may create some confusion for those who suddenly enter the altcoin market without knowing what is going on in it. otherwise we have a lot of shitcoins and people who spend a little time looking at the market will understand if quickly and there will be no more  drawbacks.

I think you should just let the market decide overtime. It will be right. Just give these new coins time and most of them will fail, people will realise that not every new coin is good and will be more picky to choose only good projects.

Wrong thing would be to now do some sort of a censorship and cut-off scams or bad coins. They will die on their own. And people can only learn from their own mistakes (and unfortunately lose some money along the way).

Coins are popping up everyday only to disappear in the long run. Those few coins who are remaining in market are holding their places but they are nowhere near the stavilty of Bitcoin. Scammers and those with zero understanding of cryptomarket are spreading negativity about Bitcoin, but Bitcoin is the first crypto to rise and it will continue to be the King of crypto regardless of the spreaded rumors, as the rumors gradually die and only the fact remains.

My biggest gripe with all of these ICOs and Alt coins are not the confusion and the scams, but the investment capital that are drawn away from Bitcoin for these projects. If these companies invested this money into Bitcoin projects, we would have been better off, but now money is poured down the drain, into worthless scams and pump n dump coins.  ::)

Yes, the negative affect on investors that gets burnt by these projects is significant, but the wasted investment of money into these scams are much worst.  >:(

Exactly! They could have benefited if they have invested into Bitcoin projects. But nah, they make the worst business decisions and give crypto a bad name But I feel like within a year or two, we wouldn't be seeing more of them. This might just be the cleansing period for them.

Altcoins can't fuel the negative bitcoin propaganda.Many bitcoin users hate the altcoins.
However,we can't forbid the altcoins developers to create new coins every day.Keeping the blockchain code public and open source is a part of the crypto identity.

I'm not too happy with the number of crypto popping up because it makes bitcoin as the parent of crypto to be always blamed when the emerging crypto has a bad reputation. The impact of fraud that occurs from the new crypto investment makes bitcoin increasingly untrusted by people as an alternative transaction even though the main goal of bitcoin is to improve and even improve the transaction system in the world.

The confusion is due to the number of shitcoins that serve no real purpose other than a fancy name. Bitcoin cash also diluted the market and added confusion to newbie, better to just stick with bitcoin

when it comes to altcoins people have always been "bending the definitions" to match their own need so that they can explain the altcoin situation and come up with a better result. for instance one of the definitions that has been bent is definition of a good coin and a coin that survives. people define it as a coin that has a high market cap and gets pumped a lot without paying attention to underlying project and whether it is good or not!

I have seen this happen. The question is asked "what is a good coin to invest in"
and the answers looked for and provided are always very low value coins that
will potentially pump. The details of a project or how usefull it is is not considered.

I agree that altcoins have been used as a stick to beat bitcoin with in the past by the media
and others and its easy because last year for example the majority of people
outside crypto never heard of bitcoin but the ATH has made a lot of people do
their own research so they know more now.

Every coin represents their own purpose and vision. I don't think this causes confusion to people who actually knows about crypto market. Scam projects exist, but that doesn't mean we blame it on crypto in general.

More coins is actually a good thing because it creates competition and helps bitcoin improve on its features.  Can there be too many companies? Can there be too many restaurants? In the end it will be survival of the fittest and consumers will choose what coin they like to use.  Also its clear that people like to have different choices, there is no reason that a lot of different coins can't succeed. 

sadly i don't think this is true. because i have never seen actual competition between different altcoins and bitcoin. there is always advertisement of competition but then they just get pumped for a little while and as soon as the pump is done everything is forgotten.

for instance if you find topics of last year during first quarter of 2017 you can find many topics talking about how Dash is replacing bitcoin. it got pumped A LOT and then .... nothing.... back to death and silence from this coin. like many others.

New cryptos popping up every day is only a good thing if they are good cryptos. If they are crap or are scams then it only harms the reputation of the good cryptocurrencies. As of yet people aren't educated enough in the benefits of cryptocurrencies to tell the two apart. In future the situation will be different, similarly to how people don't say that the Internet is bad because people get phished, they say those people are foolish and should've taken better care.

I think it does not affect bitcoin too much. Only the new altcoins appear but it can not occupy too much market share. Conversely, it can be bankrupt when not competing with other altcoins. Bitcoin is still the No. 1 and every activity of manipulation or adjustment is always present in Bitcoin. dont worry about that.

Most people that really been here before knows what is bitcoin and what is alternative coin, so i don't see any negative effect on bitcoin when some altcoins are scamming other people. It's their choice to select that coin and it doesn't affect the views of most traders.
I don't see any other reasons why people need to bash bitcoin when it doesn't do anything to them, it is them who approach the crypto world not bitcoin.

I think you should just let the market decide overtime. It will be right. Just give these new coins time and most of them will fail, people will realise that not every new coin is good and will be more picky to choose only good projects. Wrong thing would be to now do some sort of a censorship and cut-off scams or bad coins. They will die on their own. And people can only learn from their own mistakes (and unfortunately lose some money along the way).

Bitcoin doesn't really compete with altcoins. In fact, I think the relationship is quite symbiotic.

You'll notice that any time Bitcoin crashes, altcoins crash harder. This is because market confidence in Bitcoin is of fundamental importance for altcoins. Bitcoin's reliability is a boon for alts; it's what encourages people to take risks in the altcoin market. If the market lost all faith in Bitcoin, altcoins would surely follow.

At the same time, the existence of altcoin markets draws BTC supply to the altcoin markets (rather than BTC/fiat markets). By lowering available supply on the BTC/fiat markets, the price of BTC is driven higher. This is why altcoins are generally good for Bitcoin.

A new crypto currency turning into a scam or a shitcoin from the very start is not bitcoins fault. In fact it is the investor who is to blame that's its highly recommend that people should start be responsible and start researching before investing to not waste money.

I think new people don't need to afraid of the bitcoin negative propaganda and I hope that they can search by themselves to find the truth. I think if they can learn and find something by comparing with the other news, they can find the real news, so they don't have to afraid or worry. In the cryptocurrency, we have to see this is happening over and over and without learning more about cryptocurrency, we only get panic without any chance to make a profit in the cryptocurrency.

most often, new cryptocurrencies do not solve any problems and are doomed to failure, so I suggest not to pay attention to them

Many of those new coins are just bad projects that will surely not survive and they will eventually die off but the existence of this bad coins is what will make newbies learn and know more if a project is good or bad,that's why we must do some mistakes just to achieve more knowledge.

This new coin's also not same to bitcoin or other altcoins you may now.
Their are such cryptocoins have no potential if they take a long-term trading once the project goes wrong.

The creation of new tokens have been exaggerated by now.
Looks like everyone wants to be rich in just a manner of time leading to make an ICO and try to make profits out of it.

It has one more problem. There is no filter with it. Another is, instead of buying bitcoin they tend to go to the cheaper ones and look at it as if it could get a value which is the same as bitcoin which will never happen.

You are also right about the confusion. I remember a lot of new buyers who have bought BCH instead of BTC. The lack of knowledge made them bought the wrong coin.

It doesn't matter for me because i like btc and ether only, i don't think that some other new coins will appear and they will be better and more powerful than bt, which is the leader of the market for long

I have taken note of this and found out to be true. I just realized there are so many scams and unfilled project based on his thoughts, experience and the likes. I believe there will be change of phase and behaviour. Crypto is the only way.  Love it.

Cryptocurrency is the future- Bitcoin is always the king and mother of all alts those who said that altcoins will defeat bitcoin then that's really a crap message. Bitcoin protocol has more anonymous than any other cryptocurrency- satoshi is a very smart person that's why we have this cryptos in our stages.

everyone do not confuse yourself, no mattet how many alternative coins out there it nothing with bitcoin, you just cant compare bitcoin to them its the  king of all coin, yes there can be one coin that is better than btc but still the trust that people on it cant be shattered. it more like an asset that everyone wants to hold because of scarcity

I think bitcoin price dont get a effect from many different crypto in market. Maybe on bitcoin dominant decrease but not with the price. Many new project will makes market more attractive and i am believe many investor attracted on this

I see a problem in that most of the ICO projects simply create useless products or create nothing at all in the end. ICO is the easiest way to raise money from people and not burden yourself with any obligations. I see the need only for those ICOs who are implementing blockchain in the industry, logistics and other real sectors of the economy. These are really necessary projects that will help people and will be in demand.

Hello,

Yes I think that it is not good to have too much crypto that pop everyday. It just give confusion, dilute the interest and when a lot of them fail it give a bad signal that erode trust in cryptos.

General acceptance is needed, but it will come from the serious project that give real new improvments and interest.

Now there is a huge number of different coins. But absolutely not all of them are promising. In addition, there are a lot of fraudulent projects that are intended only for pumping money from gullible investors.

You're right, with new altcoins and different ICO's you have to be very careful. Unfortunately, we live in a world where people like to get easy money and invent all sorts of fraudulent fraud. Therefore, always be careful if you decide to invest in a new coin.

I perfectly understand your experiences, because I am constantly faced with different Scam. It's a shame to invest in some seemingly successful and promising project, which actually turns out to be a Scam. You have to be very careful and cautious.

Actually, it would really be good if the intention was right from the start. It only becomes a problem because most of the ICOs and projects which conducts crowdsale are only in it for the money. Good thing some of the many icos that spawned last year have died now.

Is good most cryptocurrencies are springing up to compete with existing ones and most importantly to offer diversity in what is already available in the market. Crytpocurrencies mostly of late are meant to be use as utility token to access platform and services provided by the project.

ico who did not really mean it really worsened the name bitcoin or cryptocurrency, because investors who were ultimately harmed. but indeed we must be realistic to look at the future

yes sometimes indeed things that have potential such as cryptocurrencies can be damaged by some people who try to overthrow so that the purpose of crypto itself cannot be achieved, another thing is, some people just want and crypto be used as a solution for fast profit and underestimates the risk

crypto money is now a lot that ends in fraud, but it's not the fault of bitcoin, but this is a warning to investors to be more careful in investing, must be more thorough and do research first before making an investment, not just throwing money for investment that doesn't exist Fortunately.

I do not have a very positive attitude to such a huge number of new coins. Many of them are scammers but have a very convincing PR company and people believe them and invest money. Then, when they realize that their money is gone, they are disappointed not in a particular coin, but in cryptocurrencies in General. It is very sad.

In people's mind there are still many negativity about crypto i'm sure, that's what makes crypto is not going world wide right now.
I think if people already realized how good crypto is, people will use it

This really can be called a problem, as a lot of coins do not deserve attention, because they are not of high quality, and most  - fraud. Therefore, you should carefully study the coin, its creators, the project itself, and then you will understand whether it is worth investing in it.

Due to the fact that now just a huge amount of coins, I advise everyone to invest only in Bitcoin or Ethereum. These coins are exactly reliable and verified, so buying them is safe. But the purchase of little-known young coins is very risky.

On the one hand, it's great that the topic of cryptocurrency is developing and there are so many new coins. But unfortunately, many of them can not be bought, because they will not bring you any income. In addition, it is very easy to get on a fraudulent project, they are now just a huge number, unfortunately.

Coins really a lot, and every day they become more and more. But really high-quality and promising among them a little. Therefore, it is necessary to devote a lot of time to the study of the coin that you want to buy, so as not to get caught on low-quality.

OP's sentiment is right, the number of coins that pops everyday is not that good for the market. Most of them are scams and they really have nothing to do with the market anymore. If a newbie investor invested to that coin because he's not knowledgeable enough and suddenly that project turns out to be a scam, he'll just blame bitcoin for all of his misfortune.