Bitcoin Forum

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

some of them are fake projects who want personal profit and ignore investors and participants then they leave. some of them are those who develop the blockchain technology, or other technologies, which if successful the token will survive and if it fails then the coin will sink. because new projects will always come, so don't be surprised if there are lots of coins in the market.

93% of coins out have no use other than being a copy and paste of a other project or not being able to deliver on their promises. Again this includes coins who are just out there to scam you as well.

Always read the white papers of a project but make sure the idea works, don't just always look at the team because some coins have a good team but shitty project and investors invest knowing that they will make a profit from the team being able to sell a shitty product.

Always do your own research and read the boring white papers use them as reference points, google if you need to. Do not know what zero-knowledge proof is but heard it in a project google and reasearch on every little small aspect that a project says they are to implement.



But now that I see you have 3xx post how would you not know about the crypto market by now  :)

Most are just used for transfers (some allow normal and some private transactions), some have dApps built upon them (eos, steem, ethereum, lisk).

Not all, it's mostly like hyip, but some of their projects have real products, like binance, eos, mywish and many more. disappointing and making the impression that they are like hyip are irresponsible developers, unable to deal with market conditions and have no real products. then leave just after getting profits from investors through ICO

They are utilizing the use of cryptocurrency for their own businesses that's just the case, there in the market they compete, but the sole purpose is to pay investors with their own token which I quite find bad.

Most of these cryptocurrencies have specific projects backing them. But the main reason why there are a lot of cryptocurrencies is because of crowdfunding which the crypto coin is  used by project teams to raise money to fund their project. These coins are used as fuels to support their services and project.

Yep, almost coins now are just used to transfer and trade to earn the profit and speculation for the future. Haven't seen clearly their uses in life yet

They take challenge to survive, nothing's wrong with that. Hype is not good for us will create bankrupt people every day in high number, recognize this system before enter program. No ones can't stop cryptocurrency, just use it to change your life, that's the idea.

People wants to earn money and there are various reasons why developers develop new projects. It is either they want to develop products that could possibly help users/investors to earn and use their products or to create an innovation that could improve how things uses to be.

How hype is related to many cryptocurrencies. People are coming up a lot of ideas to make crypto as better although most of those aren't fulfilling the criteria and they are just copy version from others. The reason behind many crypto now is being rich by bringing up a crypto.

I think most of them 70-80% are of face cryptocurrency, which just pump and dump the coin for their own benefits, and fade away from coinmarketcap from time to time. Only very less cryptocurrency which really works for an definite concept for transfer money in the form of tokens.

Many coins and tokens on the market are just copy cats of the good ones with no real use and they are just there to make profits out of your invested money I called this types 'pump and dump ' coins and yet there are good ones that I personally think they make a lot of sense to exist ,for example ABC coin a digital platform for decentralized Authenticity of identities, signatures and documents, using blockchain protocols which is something reasonable ,and that is a good use of blockchain

I have been browsing a lot of crypto currencies lately and mostly are ERC20 tokens under Ethereum.
Their projects are also for their own company. The tokens will only be used for the application that they will make and will stay like that.
Although they will be listed also in some trading websites. But just a few are good enough to be listed in a trusted exchange.

Unlike bitcoin, ETH and LTC which are for transactions of everything that requires payment. I would really stick with that for starters.

Yes, it is. I don't see the real use case for me except BTC and ETH. I use them to make payments between my friends and partners. Stablecoins are ok as well - they are necessary for hedging. The rest are just speculative assets, nothing more.

Most of the coin in the market are just useless, they have nothing to offer than pump and dump kind of game, that are just tools to scam people.

Really I'm tempted to conclude that we have already seen the best of coins in btc, etheruem, litecoin and very few others. These three existing coins are the ones with real crypto value and not coins that will be hyped or pumped after few days in the market, then the next week, it loses 90% value. A sign of shit coin, don't invest in such coin because it is going to its burial site.  

The main role is to get all your bitcoins or fiat)) Joking of course) If you study all the coins with their own blockchains out there you will understand that they differ a lot and can benefit their users a lot. For sure some of the coins are just competitors but there are those which can complement each other. Just learn about top100 coins on the coinmarketcap and you will see everything by yourself.

a lot of new altoin when entering the stock exchange sometimes doesn't have further growth, I also wonder why it's always like that or maybe it all takes a long process when coins it to really have great potential and are worthy of competing like other popular altcoin.

They do nothing for now. There are so many cryptocurrencies, because the crypto ecosystem created an infrastructure for fundraising. So, 99% of the coins were created just for the sole purpose of founders raising funds and they don't give a shit about the coin or the investors after the crowdfunding period.

And will be much more. Mosre than 95% are for nothing. They are useless. But some of them have their own usage. For exa,ple DexAge will use their token DXG as a fee. And t's good. Because it's a tokenomy.

your feeling is correct. the only use case of 99% of the altcoins nowadays is to be pumped and dumped so that people can make profit, mostly on their bitcoins that they invest in altcoins.

but initially altcoins started as an alternative to bitcoin so that we can use the full of potential technology called blockchain in other forms but eventually developers realized they can make a lot of money by not wasting time on innovation and spending time on hype and pumping.

There are more than 2100 current cryptocurrency listed in coinmarket, but only about 200 cryptocurrency is practically applied and has the future. And all the remaining cryptocurrency is created to scam people and just to pump and dump to make money from this market

Every day there are cryptocurrencies that been created and all of the cryptocurrencies that been created have their own purposes. We can see a lot of cryptocurrency in market but not all of them are alive and some of them are dead because there is no volume. Lastly, I think the top cryptocurrencies have a big role and purposes in our economy and market.

Yep, majority of them are useless tokens and is design to create hype and pump-and-dump to make more money for the whales and manipulators. So it's obvious that those coins will just die or lost to oblivion.

On the other hand, there are coins as well that offer real life usage, and enjoy the support of most crypto enthusiast. Tit-for-tat.

That's right, there's no use for most of the altcoins in the market.

Although they have market cap that sums to the total crypto market cap. That's all, they contribute to the whole market through the money that comes to them but with real usage, I don't find any.

The role of most of the altcoins are for speculation. Traders are using the volatility of the altcoins for them to earn profit. There are only few altcoins that have uses in our society like Ethereum and Ripple because these two altcoins can be a mode of payment.

DXG - exchange coin.
The main advantages of exchange coins are guaranteed liquidity and support from the sites that issue them.

Only 20% of all cryptocurrency that actually has real evidence. The rest is just a failed project that is just left. People behind the project are also the same. Make many cryptocurrency projects for various purposes, the most important of which is usually to seize popularity for the benefit of the group.

Many altcoins do not have any use.99% of the cryptocurrency will be zeroed in the future.And there are many speculators in this market.The speculation is very common in here, so don’t be surprised too much.

Yes, indeed, now there is such a huge number of names on the cryptocurrency market which is simply amazing imagination. Creating a lot of different currencies with different names has become very easy and simple. And all this is done with one goal - to earn as much as possible.

Just bump and dump coins,they were created with the purpose of money making so it is not going to stay too longer or will have any real value,those coins will just go with the flow of market.

Many of them where created just to get a lot of money from investors and they promised a lot of things but in the end they turned out to be useless.

some coin are make their unique function and other coin are copying from other coin to make their profit only and leave it after .

Sorry. forget about the Huobi Russia. They also have a well creadet tokenomy and very good exchange that already running. During an ICO. It's a big plus for them. So more than sure they will also be great in a future.

perhaps for a cryptocurrency market it will be better if my number is not diminished. Then more funds from investors focus on more promising projects. And this in turn will provide an opportunity for the qualitative development of the cryptocurrency market.

the thing they do is a dump. during this fall almost all crypto outside of rank 100 is a big dump. as you say this is just the hype after it was abandoned. becoming safer is an old coin that has a large volume

They are exist and this is their main purpose)) Actually there are too few real projects which are useful for society. Perhaps only few top projects could be considered as valuable for community while others just do nothing. But yeah, most of them is still useful for investments and trading... somehow)

Research and buy. I take a part in a bounty firstly. Investigate about a project, team, and the reason they run an ICO. From the last ones is Huobi Russia. Good already working product, a lot of benefits for participiants, and a new token in my collection.

I can assume that just half of the tokens in the coinmarketcap has no use case
There are so many crypto currency tolem that functions well and we have not learnt about them
Just dyor and learn more

In general, tokens have the most diverse uses and they are very useful for humans. With the advent of cryptocurrency and blockchain technology, it became possible to unite all people on a global scale to distribute and use in a certain way any information online. The possession of such information is sometimes very expensive. Sellers and buyers unite among themselves, in general, information useful to people can be the most diverse. Therefore, you should not consider tokens useless.

The market is currently overwhelmed with scam project and coins that are used only for pump. Be pretty careful and research each and any project deeply before you invest your own money in it. A coin should have a good circulation supply, trading volume, listed on major exchanges and have a good team.

Coming from a senior member this question is quite amazing and surprising ever coin has its uses that's why most of them have white paper to direct you on the purpose and future of the coin

You are absolutely asking the right thing. A lot of coins and tokens are fully useless and shouldn't exist at all. I think that around 70% of the coins we have today are living purely thanks to some hype they have left with collaboration with small liquidity that is still around them.

Hype is just part of the life cycle of a new industry, it happens with the internet and dot.com companies when people believe all they need to do is to put their business on a website and that is all, there are some interesting projects in the space, Augur and DAI are two projects that stand out for me now because they already have working platform and many more projects are coming up with little or no hype because they are just focus on building something great for users. Forget they hype and see the real use case and you would marvel

what they do is make the market worse. dump, scam, manipulation and other things that are common in crypto. so it's no wonder that many investors leave. only about 5% of total crypto has good quality and the rest is only shitcoin. only about 5% of total crypto has good quality and the rest is only shitcoin.

The role of such a large number of cryptocurrencies, is nothing, just many have successfully earned money in the wave of market growth.

Among them there are many fake projects and copycats without any use case, but also there are legit projects with unique ideas. Competition between ideas is good and the market will decide which project has future.

its original purpose was of course currency but in practice it was not like that, not because crypto deviated from its original purpose but because of the lack of support from many parties for example is a place to shop and sell
if only there were many sellers who would accept crypto as a payment tool, crypto would not be just a hype

Yes there are many cryptocurrencies in the crypto space . Some holds true and genuine ideas in revolutionizing he world while some don't have any use case just to scam investors. So one need to be  careful, before investing do a good research.

To be sincere, I've gone through many whitepapers and seen project aims of many different projects. Some are just baseless, while others are copycats. I think many projects won't stand the test of time. Many teams are just interested in fund raising, and no product development. Well, let's keep hoping new projects won't keep popping up with irrelevant or already existing use cases, unless with revamped features.

The number of crypt I currencies with no definite usecase are much more than those that are really useful.
One of the most important things when it comes to the popularity, use and success of a coin, is mass adoption.
So many of them  cannot be adopted, let alone mass adoption.

Actually some of that coins or tokens have their own reason why created. But don't know it is because of bad movement in market or maybe developer's hidden purpose when create that coin. Some of them not really follow their roadmap and seems leaved by their dev.

To make money and yeah hype the people to invest so they can have more when they leave the market. Most of the coins are just the same with other good coins, they create the same project over again because they know it can attract money. Don’t worry shitcoins will not go to the next round because investors are more educated now.

Most of them are created only to attract investment and do not have a finished product, but only plans and ideas that are not implemented, so expecting something big is not worth it in 90% of cases, over time you can understand which coins become valuable and which ones still stuck on that level.

It is very much crypto every day, always growing big every day. All crypto certainly has an important role for every coin that exists. Because we can't know one by one the crypto role. With the amount of crypto certainly will have a big impact on the growth of crypto.

I also agree that 99% of altcoin will die in the future. Within the next 3-5 years I predict there will be only about 50-100 altcoin left alive and active. There are too many current altcoin scam and it caused the market to collapse in 2018 and 2019

Every new ICO comes with an idea and launch its cryptocurrency inorder that token to be used to access their services. Its a fact that most of the new ICOs are not fulfilling their promises and their tokens are of no use in real life scenario. Its not surprising that new ICOs with new cryptocurrencies will keep on coming but the projects with solid plan will only survive. One should always study the project thoroughly before investing into it, a good project can multiply the investment many folds. Its like mining diamonds from coal minecraft.

Those coins are nothing but shitcoins. People come up with copy paste another crypto. No utility, no real life usage, nothing in fact. Only for getting cash. It has become a good way to earn money and that's why a lot of new coin are there.

They are created for different purposes. But I think they have the same goal of taking money from investors. I still don't see any real products or applications from coins. It only runs in one cycle: ICO -> listed -> silent or dead.

I am afraid there is no other role except to make money until now. We see many new projects launch, and their purposes behind the project are collecting money and get that money. Until we can see the implementation for the cryptocurrency has already happened in everywhere, then each coin can give the real benefits to the people. But bitcoin gives a proves in some country, and you can see that there are ATMs installed in that country so people can use the machine. Besides that, we can use bitcoin as another payment system by using the third party, so we don't need to confuse about converting from fiat to bitcoin because they already calculate the converting.

Cryptocurrencies are created or developed with the aim of solving a particular problem or develop a useful product through blockchain technology. However, lots of projects have drifted from this primary objective. There are a lot of cryptocurrencies today that are not useful for anything because they were not well developed, they lack value and utility and that's why they are not making it or competing favourably in the market.

Of course there is a role for every crypto currency being created and you can see that in their whitepaper.
It is just that this new currencies cannot surpass the softcap to continue the project or they are pure scam from the start.

Anyway, it depends upon you. You have the chance to research them first before investing with them.
Make it 3 to 4 times of checking before you hand your money to them in exchnage for their token.

Higher risk could mean a higher profit but it is dangerous.

You are right. Even almost all the crypto currencies are promising some special reason for their existence, they are not having any unique feature to justify their existence. Almost all of them are just an approximate clone of bitcoins but having a modified mining algorithm or having some enhanced features added. Nothing else more than that we can expect with most of them.

Except bitcoins, most other coins are just the existing and simply following bitcoin for having real-life applications. Simply we can say they are all just here for no reasons in the view of a payment processor. ATMS are not an innovation of cryptocurrencies and BTMs are being installed for the reason providing people easy access to cryptos.

Bitcoin is itself a payment process on its own but we need third party support when we do think about converting it into fiats to escape from price fluctuations. This can be a case against any altcoins too as altcoins are also heavily fluctuating.

Distraction and decrease in capitalization, I see the main reasons for the appearance. Many coins are not used at all and hang on the stock exchange as a dead load, and I am not talking about useless forks yet.

I think this 2 factors combined.And the bad market affects this and the reluctance of developers to work only on one enthusiasm.Understand that a good developer wants to make a good profit.I think most cryptocurrencies will disappear soon. The strongest will remain.

Now, many people who understand that you can earn money on cryptocurrency and on your company, very actively open different companies for different fields and they use cryptocurrency technologies for this and each company has its own token.

There are currently more than 2000 crypto in the market, but actually only a few hundred coins are still active. Most of them were almost no longer traded on exchange and died when the market plunged. That is a way to get projects out of this market

I don't know what the role of many crypto circulates. The number of crypto circulating is because crypto has a decentralized system, each person is free to create their own crypto business so there are many crypto circulating. But more than 90% crypto is a scam and the product fails, so it's like garbage. But there is also crypto that is developing and successful, even in collaboration with well-known companies. This is like a fight, the strongest crypto and can develop will become crypto that is worth using, while crypto that fails will have no value anymore.

yes there are actually many, maybe too many altcoin / token but few of these will be successful and some value many will end up in oblivion and lose value others will be just delistate from exchanges and will not be worth anything we must know how to choose well those that can have a future and a value

The coins you said will be delisted from exchange if they don't have a long time trading. There are also many projects with potential, however the decline makes the project team more difficult and can not continue to lead to suspension of project development.

In this there really is a peculiar problem of our time because a very large number of projects are collecting fees, which today still have very poor results. Issued tokens are not needed if the project does not work. There are so many.

90% of cryptocurrency is useless, and many of them run useless projects. I have seen so many coins that only made pump n dump coins and have no clear reason why the coins exist.
My conclusion is that those who created shitcoin are only looking for profits from the crypto hype.

Different coins are created for a specific reason. Some are being created for easier payment system. There are some reasons but I can't enumerate them. Some of these coins are scam only and it is created to get some money to the investors out there. There are some people saying that most of the coins right now will eradicated in the future for some reasons. Maybe because of financial problems or because they are scam.

Everyone wants to earn, and everyone does it as he sees fit. The market is really a large number of projects, and most of them can be safely called another slag. Everything is very simple, where the money is spinning, there will always be scammers. Therefore, be extremely careful when investing your own funds.

maybe for people who are seeing the crypto market for the first time they will see prices that go up and down uncertain because price changes occur so fast, but in crypto it is very difficult to determine a good coin to invest because time changes also affect the price of the coin .

the chance as developer works as offering use of goods of service for public audience.
we are preparing our projects for pupils of indonesia as requiring of supports with 40000 authorization of funds to helps as covering funding on working on scheme with beginning initials of terms with the development.

We know that there are many good and useful coins and tokens on the cryptocurrency market, and even more unnecessary and unpromising ones. However, only in this way can the cryptocurrency be improved. Supply and demand in the market determines which cryptocurrency to live on and which one to leave the market forever. Therefore, do not worry about a large number of types of cryptocurrency. Over time, the market will remain only those that will be needed by people.

As we can see now, many projects are failed and due to lack of development and funds they stay in market or exchange but no value, Maybe we can request that delete the crypto currencies that are dead or fake/scams also.

The role of the token is a utility token own by the company that issued them, so better check the platform of the project first before investing in the token, yes some coins are just made for hype but not all of them I can guaranty you that those coins in the 100 positions are not hype but they do have a platform for the community to use.

I've been saying so often lately, but after a few years there won't be so many coins in the market. Thousands of projects that have no purpose, who have not managed to disseminate their own ecosystem, and that have garbage, will be removed from the market and as a result of this deletion, a new upward trend will start in the prices of successful projects. I think that many projects created especially as token will not be able to reach even the smallest successes in the short term and in the long term and they will disappear with a rapid depreciation from the market.

If you are a beginner in the industry, do not invest all you money into one crypto currency. Read about them and when you will have enough information, select few coins for yourself and it does not matter on what place this coin would be on CMC.

Not all Cryptocurrencies are meant to be a currency a way to pay and get paid by in fact most of the Cryptocurrencies are just tokens represent an idea or project and most of this projects are useless or just flat scam so do not expect to find a use case for every Crypto you find in the market.

They are basically launching their own cryptocurrency to be competitive enough for the people to use, in these case, investors and marketers or promoters of the project can acquire these, and eventually, traders can manipulate their coin for a good purpose like increasing profit, then sell it in good price in a return.

We need more time, time and competition will put everything in its place, scammers will be gone and good projects will develop.

In my rich I will say that most cryptocurrencies do nothing, there is only speculative interest. Teams sometimes make some minor updates and earn on the growth of the course.

Every coin needs to be revisited and reviewed. There seems to be so many number of coins that do not have genuine use case and some do not have at all.
This has evey tendency, to bring down the price of such coin and one might not see it rise again.
The coins with good products are so minimal, which is why we rarely see coins that grow significantly.

Obviously they want the benefits of the Bitcoin movement, because most projects want the big profits from Crypto they create, because if BItcoin goes up they have a Token that is ready to sell.

I will also say the same thing to a coin whose project does not have a clear purpose other than to make the whitepaper as attractive as possible so investors are interested.
because the development of the project greatly influences the price of the coin so that when the project cannot grow, the coin will only become a waste and worthless collection

But at least, other coins have benefits too because, with those coins, I am sure that it's a way for us to earn more bitcoin and then we can use bitcoin in our daily life. Although the altcoin is not like bitcoin, the existing of the altcoin are help bitcoins too and make cryptocurrency grows.

I believe among all the cryptocurrency, there are just several cryptocurrency that actually has a real value.
From what i know there are many coins/project with similar concept being created and in therm of use, it has less usability.

With the amount of cryptocurrency that is not small, of course, we also have to be careful. Not all Cryptocurrency is real and its purpose is only to get money by cheating everyone. This, of course, becomes very detrimental to many people but you also have to be smart to get the best.

With the current situation when having too many cryptocurrency, the best way I think that should sell immediately when have the profit. Don't be too greed and holding new coins too long

actually before the coin coin appeared there was history and the purpose for which the coin was released so before we decided to invest it would be nice if we know the background of the coin so that in the future we will not get losses and of the many ICOs, of course, there are many fraudsters from that we must be more careful in choosing coins for investment places.

Why deception, everyone who appears wants to get their investor and a place in the sun. Another thing is that the majority lack both people and resources to implement this. And there are simply no new ideas, clones of coins and useless forks.

Quite yes, some are there only because of hype while some are there because the funds was there and some are also there because they've the right usage, some are also there to fake trading volumes, some are also there to keep dead faith, some are also there to lure investors into there traps etc.

Why do you think so?On the contrary, using only cryptocurrency instead of tokens, the projects themselves will die.The real value I do not see only in the tokens of new exchanges that appear almost every day.The remaining tokens are used to directly maintain the health of projects.Now there is just such a situation when tokens simply simply have no value. But everything will change when projects come to the completion of their roadmap.

At least a half of all crypto currencies that are on the market at this moment, will die within the next several years, because even after several years of development they cannot finally release their working solution.

Most of them are just a lame copy of bitcoin and ethereum , I rarely see some good project that can attract my attention, These days some new ICOs are coming out and I hope something more practical comes out .

I will tell you so, you are wrong, because in fact, why are there so many tokens on the market? The answer is very simple, because the idea of ​​each token in solving the problems of our society by means of simplifying certain processes, but I cannot but agree that there are many fraudulent projects, but I assure you that there are very few of them, in fact there are very promising projects that are in the process of modernization and they just need time to improve their market situation.

Well, it depends from currency to currency. There are some projects that are worthy and are very much in the market but then there are projects that have no use and are there by some accident.

Coins are simply traded on the stock exchanges, and the projects themselves are working to implement their ideas and develop business. What else can they do? All coins sold at ICO are primarily an opportunity to attract investments for the development of the project. Therefore, the project has no choice but to develop its business and create new areas of use for its coins.

it really looks like most altcoins have no real use. i noticed that too and i think most of the coins are just made to make the dev team rich. so few coins will be really successful and many are just worthless clon coins.

Most of them will leave the market,as there are circumstances that the company can not be more than the market is located for this,here's an example,what happened after the fall?how many projects and startups have already bent, a lot, just a lot,and I will say this trend leads to the fact that everything can change at any time,so I will say that 50% of Cryptocurrencies will definitely leave the market in the near future

For the most part, absolutely nothing useful is not done, they just pull all the free funds of investors, there are practically no unique projects and probably will not, it seems that the ideas are over