Bitcoin Forum

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..

NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!

well not entirely correct is it, if you remove all these shitcoins it doesn't mean all the money would go into another crypto!
many of the cryptos and icos has received money from outside-crypto sphere investors.

to reply on topic, it does make the market a bit  "embarassing", in reality, a few coins alone make the majority of coins redundant.
the next bullrun will bring a few coins up to the top and remove the vast majority of these other ones.

It will not be good for market if more than half of them are garbage and scammer. The market needs to be purified before having a steady growth step

i disagree with you 100 precent. you dont know what ur talking about ::)

This is bad, because as stated, the demand and value of others is reduced. it is better to leave the top and most current coins on all stock exchanges as before, and to dry all the rest.

No, I do not think that a large variety of altcoins harms the general state of cryptocurrency. Investing in cryptocurrency does not occur in a precisely defined amount, but from the demand and necessity of this cryptocurrency. Therefore, if there is a lot of good cryptocurrency, then people will invest more in it, and its popularity will grow.

no, it doesn't work that way.

the only thing that is hurting the market is the altcoin market itself. more precisely, it is about the fact that 99% of the altcoins are completely useless. which is why they don't have any future and that is exactly why the only hope for them is to be pumped and dumped and nothing more.
so the result that you see in the market is a constant decline of the values of all these coins with some temporary uprise (aka pump) and eventually death and replacement by new shitcoins.

whether there are 50 altcoins or 2500 altcoins doesn't make a difference as long as they are useless. but if they begin creating valuable coins then even if there were 10000 of them, they will all be valuable and keep rising.

That depends on the how good altcoin is. Remember with the various altcoins and you can't determine which is good or bad, if there was a lot of good altcoins that will be a good impact to the crypto but the opposite thing will happen when bunch of bad coins appear

This is a fact we can't deny. I believe the numerous types of cryptocurrencies available in the cryptocurrency space is largely hurting the market. Personally, if I'm looking to participate in an ICO, I always look to sell some of the coins previously in my possession. I I didn't have to sell those coins, my holdings would have generated a fair share of scarcity required to keep the price of the coins stable. Another major reason is that the vast majority of altcoins are absolutely useless and are used for the sole reason of pumping and dumping.

But no one can stop anyone from creating their own coins and if people are investing on it means they were trusting those coins as well,they will learn only if they get scammed or lost their money.I am also agree that most of the new projects hurting the cryptos from being adopted by people.

It depends on which side to look, if in terms of cryptocurrency development, this is good, but if we are talking about the distribution of capitalization, then this is bad!

The only downside with the huge amount of crypto right now is that majority of them are just shitcoins and nothing has to offer and it suckered most of the funds of unsuspecting victims. But then again, we are a free and open market, who are going to stop someone from developing their own shitcoins?

I think that cryptocurrency is too concentrated in 50 tokens. This is not a good thing. Only competition will promote the development of cryptocurrency. Therefore, in recent years, countless cryptocurrencies will be born. Only with continuous progress and development will cryptocurrencies survive.

I think that a large number of altcoins simply makes it difficult for new investors to enter the market. Because if he has a bad understanding of crypto, it will be difficult for him to decide which coin to invest in. In addition, a large number of shitcoins also makes inexperienced people think that crypto is a complete fraud.

More possibilities for people . Its like there is loads of different Vines , beers , Fiats , cars and so on . Why should we have like 10-15 different banks in country if you can have one :) I would say its good , as it employs people and there is new people coming in to learn what is blockchain and how to code lets say on ETH or any ETH based token

In my opinion the more types of crypto, the more chaotic the altcoin price will be. I think now that it has begun to be seen with the many new coins that are starting to come in the middle of cryptocurrency, is it making prices and market conditions better? I don't think at all, it actually makes the condition decrease dramatically. For me that's the cause. Confusing for me.

There was a discussion in our main speculation board about how these many altcoins indirectly hurting the growth of bitcoins. That was about how altcoins are misguiding investors and how it was impacting the value of bitcoins negatively.

Now, you are also stating similar thing like large variety of altcoins is good for diversification purposes but definitely bad for individual coins' growth.

I think that prices fall because each cryptocurrency delays a part of the income on itself, this reduces prices, I think that we need a regulator of cryptocurrencies, since a lot of garbage appears.

I believe there will be any possibilities for regulating authorities for altcoins as the whole system is supporting the freedom to create and choose. So, it is your own responsibility to stay safer. You cannot blame others for their actions. Even there are 90% of coins are garbage for the need of remaining 10% we need to tolerate all of the garbage.

Yes, when there are many coins, most of them may fail to attract continuous investors which may lead to deviation in expected growth given that we are considering only real potential coins. Scammy coins also will be having similar impact as large amount of altcoins will be impacting all the altcoins and bitcoins too.

If the variety of altcoins were really useful and different, it would certainly be good for the market. But many coins are just clone coins and made to make the dev team rich. This is certainly not good for any serious project, be it bitcoin or a altcoin.

And what is the benefits of having the crypto more valuable? it would be still the same with more coins or without, if there's only 50 coins i wonder how much the trading volume would be, It depends on the altcoin if it's trash then it's bad for crypto, if it's good then it's good for crypto.

You are not satisfied with the price of coins in the market. But I do not think that this is such a great harm from altcoins. Investors can choose which coins to invest in. In the top 50 or in young unknown projects. Therefore, it is not at all necessary if there are only 100 coins left on the market, then their price will increase significantly. Because the investor can invest not only in the crypto currency.

Variations on altcoins are just an option, if a coin is not much interested, after a long time it will be destroyed or lost in the market, from which we can see which of the many altcoins that people like, so there are no problems with variations altcoin.

Sure. And that's all I'm looking forward to, I've been thinking that we should move the investment from shitcoin and focus on investing in altcoin top. Altcoin's price will increase rapidly and many people will pay attention to cryptocurrency. The market will be better and not collapse like now

It doesn't work like that precisely, maybe a bit but not as a whole. If there were 50 coins all of this money combined going to 50 coins wouldn't be reality, some money just goes directly to those coins so if you look at those low volume coins and just delete them and tell people to just invest into top 50 coins they might just withdraw their money and leave. Hence all these altcoins bring in some money with themselves.

If we did that top 50 coins only thing would the marketcap of that top 50 coin would increase ? Sure, it would be the global total market cap of all coins would be less than what it is today. Hence why we have a lot of altcoins that gives us the option to invest into anything we want to. If you want to invest into the most silliest coin out there than you can do that (like doge or garlic) and you would even take it seriously and use that to do whatever you want.

Of course, a large number of coins is an important factor without which the cryptocurrency market would be even more dynamic. Now we have a market economy and developers compete for the quality of the product.

they are hurting the market but not in the way you think. in other words if there were only 50 altcoins their value would still be the same as it is today because people aren't willing to invest more than they have already in any of them so it wouldn't make a difference.

their damage is a different one. the simplest one that everyone knows is that they have turned the altcoin market into a shitshow that only pumpers are interested in and the real investors have long gone away.

I think the increased number of coins in the market create a good and bad effect on the crypto industry. Bad, because it creates confusion and most of these coins just disappear giving bad impression to the market and affecting also the reputation of other good coins. Good in the sense that the creation of these altcoins and their platform boost the development of the technology.

when regulation of the market comes then a lot of coins will disappear and this thing which you are talking about will happen. the whole capitalization will split into basic 50-100 coins

I agree. We all know that most Altcoins are pretty dependent on the value of Bitcoin that is why market really hurts but sometimes shit projects with shit Altcoins may also be a disgusting part when in comes to investment as majority of these Altcoins are useless. That is why when I am looking for something good to invest I just pick and chooses top 15 Altcoins that has potential to grow.

It depends on how much the funds would be distributed, but I am absolutely sure that this affects the market!

I agree that a greater concentration of capital on just 50 coins would make their value much higher than if the capital was divided into 1000 coins. However, the market capitalization of cryptocurrencies is still very low compared to other capital markets, so we still have a chance of huge increases of price and capitalization.

the number of altcoins makes it easy for people to choose the altcoin they want to invest, but the problem now is that almost all of the altcoins currently available cannot be used for real-world interests.

I would say there are pros and cons to so many altcoins. The main CON is that it dilutes a very small financial market, hence some very good projects have less capitalization than what they are truly worth. Also, another CON is that many small-cap crappy coins get easily pumped and dumped by pump groups, thus leaving many noobs and unsuspecting speculators with being left with hodling very useless bags. The RPOS are that micro investors can come and invest in many different projects that they like at a fraction of the cost of traditional investing and on the blockchain everything is so much easier to do. Also a PRO, in this case, is that anyone with a true vision can come and open a project, tokenize it and make their dream a reality. If the project is good, it can bring employment to many people remotely which means more people can get jobs.

For now, having many alts in the market effects it negatively since money is not focused in a single point. To be exact, bitcoin's dominance was lesser now compared to last 2 years ago. Money that should've been into bitcoin is flowing to the useless once that are being used for pump and dump schemes.

NOW, imagine only 10 companies in the world, and they supplied everything needed to the people, and all 10 of them were super valuable and held all the $$!  ::)

No, variety in crypto space is absolutely a boon. Yes, a large portion of them are shit. But that's ok. The point of permissionless and open source code is to allow people to do these things. Maturity in crypto will come. Until it's there, it's valuable to see different coins doing different things. The fact that not all of them are going to make investors rich is absolutely, completely, 100% besides the point.

Yeah you are right as the volume gets divided it does have an impact on the value of the major coins but at the same time each project or coin is backed by its own supporters, fans and investors which would not have invested in otger projects so i think the net effect is very minor one.

The dominance level is still same as before but only the total market cap of the crypto currencies were increased.Most of the coins including bitcoin were used for bump and dump to make profits,it is rarely used as payment system so we no need to blame on the crypto currencies,we son't have the people yet to accept cryptos as currency.

If we see from the broader perspective i think in the long run it is positive for the overall market as more coins are coming with more marketing campaigns and more and more people are being introduced to crypto this is helping adoption and also helping the overall growth of the crypto market.

It doesn't actually affect/matter much in the long run. Even though if there are thousands of altcoin in the market, people will only invest on the coins that are well know and has credibility. They won't be risking themselves by investing on new altcoins that has no potential. Those other altcoins will eventually die and new ones will popup and will just get the attention of extremely small crowd of people that will have negligible affect on the market. Just look at the trade volumes and you will understand what I am saying.

Of course. Due to the fact that there are a lot of altcoins on the market, all the means of the cryptocurrency market are distributed among all the altcoins. This negatively affects the capitalization of many good projects. Also, some teams are scammers. Such projects erode the means of the market even more.

The only thing I understand for sure, that if we have only 50 altcoins on the market there won't be so high volatility at each of them due to large market caps. The higher capitalization asset has the lower momentum of the price is.

The variety is needed especially if the coin/token in question is useful and contributing to Crypto world, I don't worry about all the other shitty coins/tokens because they are like a dot in a sea look at their volume they are nothing and I don't think they are stealing abut real % from big coins. We can actually say that the number of paused and extended ICO is the real thing hurting the market because they are representing locked money that is not moving and not creating any contribution to the Crypto space.

A large variety of coins is not good and it is not bad, in my opinion this is a necessary and only condition under which the principle of reasonable competition between projects will be observed which will lead to the fact that the strongest will survive. Over time, still most of all the many of these projects will die.

I would say before it maybe is a bad thing, but now, I am not so sure anymore. There are so many altcoins in the market that getting a niche is hard enough to gain, especially with how everybody is acting up and strategizing in what they do with their coins. For newer coins these days, it's even harder to actually prosper because of the reality that the established ones have already gotten the heart and interest of most coins and building one's trust in a coin is quite difficult to get these days. So, I don't think adding more altcoins would not do much good. It may only have an effect until such time it shows a light or chance to make it big.

It may be hurting crypto since the crypto capitalisation is spread among the thousand coins in the market. if they were to be few, more attention would be given to the market.

We are a growing market and we can expect huge competition among crypto coins. In this way, many were seems to be losing its capability as some will win the race. They are not hurting the market anyway, but only those scammers are ruining the image of crypto as well as its prices.
Scamming is rampant for now and we can only stop this if we could apprehend them early before they'll find victims.

I think it does not matter how many altcoins are on the market, if they are not in demand, the price will not rise.

A number of scam alts if being summed is a big impact to the crypto world already since they can affect the viewpoint of newbies in crypto. If many investors got discourage investing just because of them then there will be slow adoption in cryptocurrency and blockchain usage.

A few years ago there were less than 50 coins and these coins were less valuable than they are now. If there are so many coins now it's because the interest in crypto has grown, it's normal. The quantity of coins is not a problem, scam coins are.

Also, the amount of Altcoin will affect the market by adding more liquidity to Bitcoin and Ethereum. These 2 coins have a competitive advantage thanks to many Altcoins.

Well but look at it this way. The more projects, the more ideas of how cryptocurrencies can be used, the more attention. Then you realize the wide  use of blockchain and tokens. 

care to specify something?
the vast majority of coins are tokens, and the vast majority of tokens never will/doesn't do anything that can't already be done.
do you think all these coins serve a purpose? were you shilled some shitcoin that you believe will be the next big thing?
there's a reason BTC was the first big thing, ETH the second, ..
what does all the other coins bring to the table? 99% = nothing that Can Not already be done with btc/eth.

People have more choices, so that's a good thing but many of them are scam and when one gets scammed they curse the market and leave, that could be a bad thing though.

Actually we can't do something about it but to wait some big project to urge market and investors in investing and making the market in a good condition again, still we can believe on the future of cryptos.

The numbrr of coin released to the market is not actually the problem here but the fact that most of those coin are fake project and that has turn crypto sphere to an atmosphere of scammers, that is really affecting the market.

I doubt this. It is more like asking if the large variety of companies in United States is hurting the country's economy.

The only thing that may likely hurt are projects without good ideas or projects lacking in continuous development or improvement of their products.

How can it hurt to market? Yeah, shit coins are worthless, but it is a positive trend seeing more attempts to create new blockchain and improve existent technology

I think its bad for the whole crypto market. If we are only supporting one to ten crypto, think of it on how much the whole market cap is. But it's also good for the market at the same time as it gives choice for the people on what kind of crypto they want. Another bad thing is it gives a lot of scam project in the market, those scammers are just keep on creating projects and tokens and gullible investors believe that those projects are certain with their proposal but in the end they just scam.

I can understand the vast amount of information a newcomer has to digest when he sees 2000+ coins on coinmarketcap.
This is not hurting the market as much as the fact that most of them are trash and people are getting burned and disappointed.

I think the OP has a major point in this post
I also share the same thought. The numerous altcoin and the easy to which a token can be created can have an adverse effect on the cryptocurrency market

I believe that a large number of coins in the cryptocurrency market generates healthy competition and contributes to the faster development of projects. Garbage coins will eventually not stand the competition and will cease to exist. Therefore, I can definitely say that a large number of coins is good.

Having so many coin in the market is not bad for crypto sphere but having many useless coin is what is bad for the crypto sphere in my humble opinion.

In my opinion, a huge amount of crypto coins introduces novice investors to the confusion. When there are so many coins on the market, you immediately begin to think about what they are needed for and how they differ. But at the same time it creates competition between projects and accelerates progress.

I honestly think the competition is needed. Each offers unique features and with time we will see what is necessary for the market. I was recently reading an article about many chains vs one chain to rule them all and it helped give me a better understanding of this situation.

https://medium.com/ampleforth/independent-currency-in-a-multi-chain-world-67032dce8296

So, you can be right and wrong at the same time! It's true that today there is a lot of thing without any sense, but this situation is fruit of the idea of the cryptocurrencies! Everyone wants to contribute in their own way, either negatively or positively. Since Bitcoin controls all of Altcoins' actions, it doesn't matter how many cryptocurrencies because in 2013 the number was much smaller compared now and prices were low as well. The question is the market sentiment.

With a high number of crypto, it has good and bad effects. The good ones will certainly make a lot of colors on Crypto. And we have the opportunity to make profits from various types of coins. But with a lot of cryptos, of course, investors become divided. And cause competition between coins.

You can look at it ambivalently, on the one hand there are coins that can benefit, on the other hand all the money invested in certain coins would obviously raise the capitalization and prices would rise!

People who invest in these shit coins lose money and the desire to continue investing, and yet they could invest their money in really good projects, and that would help the market.

The main idea of the creation of different coins for different projects was to show how vast the Blockchain and cryptocurrency can be utilized in the view of bringing solutions to payments systems in all projects, businesses, stores, companies etc. However, due to the scam and unsuccessful projects hitting the market, investors are now becoming weary of new coins.

we need to delete some shitcoins from cryptocurrency market.if we dont , maybe in future there much investors trapped in this coins.they didnt now its projects already die.maybe coinmarketcap need to add this feature

The present state of the market cap today, most especially its value, is as a result of the increased number of altcoins that are trading. If the number is reduced, the market cap will also reduce. So that does not translate to increase in the price of the coins that might remain if the number is reduced.
Our main concern should be that, there should be increased number of valuable coins, coins with good use cases. In that case, more investors will be attracted and will bring about increased market cap.

Kind of, but at present only coins with use cases is standing strong while all these worthless coins are taking the heat. Right now, everyone is getting wise and going for only projects with real applications

I think this is an open market, all can show people their projects, and prove that it is valuable. If only for 50 coins, the market is small and there is no competition

Crypto market is open for all, it may be a good or bad side of the crypto market. Too many coins won't be a negative thing for the market as they may bring good competition in the market. The only thing not good for the market is useless coins that are launched with only intention of stealing investors money.

The crypto space gives an opportunity for people and projects to show themselves and the good excel. Having a large variety of altcoins is not bad because the market is all about demand and supply. New coins created should give a reason why people should use it.

I believe of course a large number of different and in most cases absolutely useless altcoins just prevent to develop and be useful coins on this promising projects. I think if our choice was narrowed to a minimum number of coins, the market situation with prices would be quite different.

Give time for natural selection, he will do everything for us, the weak coins will die, strong will remain, do not invest in shitcoins.

I am agree. Too many coin can give us many option that we can choose. But with many coin in market, there must be a death coin because loss on competition with others. More coin means more analysis but i think more opportunity to make profits

I think huge variety of altcoin is good for crypto because people can choose many kind of coin the want to invest. And i think crypto is spread throughout the world with billion population, so thousands of coins it doesn't have a negative effect, because the human population is very large

Perhaps when there is a choice, respectively, it becomes much more interesting, and to some extent more promising, but you will agree when the market is more than half of the coins are just unnecessary slag, then by and large, this slag prevents progress on this promising projects, and also prevents us from choosing a good and high-quality project. Therefore, the choice of course should be, but not so much I think it needs to be big.

Yes, a large variety of altcoins flooded market and we can't fight against it. We can accept all of these altcoins and just wait. What would you suggest more?

Human activities are innumerable, and if we talk about universal cryptography, I think that a large number of coins and projects not only does not harm, but, on the contrary, strengthens cryptography in general.

If all the coins in existence or created are still alive and with project attach to it and the all the coins that have been created has value and volume then it's good, but unfortunately with thousands of coins that have been created only coins that are on the top 100 has value.

Of course it's bad. Because there are so many shit and unnecessary coins, even their presence is damaging to the market. I wish the market had a maximum of 100, and that would work.

if it does not harm the market, bro. precisely with the presence of altcoin competition in the crypto market is getting tougher. precisely what must be done by the manager or the person who owns the Altcoin company. must be able to provide and convince investors must be able to provide and convince investors that what they manage is one of the best coins for the future.

from 2000 more coins in cryptocurrency market, less than 5% coins that usability in our life.and 95% left was shitcoins that has no function at all.most of them just want to take investors money.

I do not think so that is big problem for the market. Crypto market will cleanse from unnecessary coins which can not survive through this bear market. Most of projects did not do anything useful with large sums of money, and they did not deserve to be part of the next bull run.

From the one hand it's good. More projects, more people involved and informed about the crypto market, more potential investors.
From the other hand - bad. More scams, more weak crappy projects, less investors trust crypto projects...

as you think. indeed more gifts are better. but we now have to change our thinking patterns too. because every increase is of course there are also negative and positive things. get better before choosing a project we need to find out about project information clearly.

it's not a bad thing for me, it will make true coins more valuable and that will be more demand on all coins. it would be better if we do that, we have to start buying coins that are really good and leave shitcoin.

IMO opinion large variety of altcoins if they have real use cases & huge user base. The problem with a lot of coins are they dont have user base which makes their project succesful & ultimately builds their ecosystem. But despite having technology & constantly updating their codes & apps they fail on marketing side. Take example of DigiPulse project the concept of the project was great but they gave up in December 2018 because they do not have user base. 

Even 100 are too many but it would certainly be more healthy...as it seems this bear market is going on for a good while there is at least the chance that a large quantity oft useless coins will disappear by the end of the year.

Even now, with this market. I only believe that there are only about 30-50 altcoin to have real value and there are real products that can be applied in the future.

Well, some kind yes. But mostly the reason they don't have a product. For example let's take DexAge. Decentralized exchange. Mostly of products don't even have MVP. They have. They already got a product to develope. Mostly just raise fund for an idea, and after that  run away.

Yes of course, the variety of altcoins is affecting the market negatively, Any investment in altcoin is bad for Bitcoin, Imgaine if the whole market capitalization is based on just one cryptocurrency, Bitcoin. That will mean a huge level of adoption and increase in price.

Large variety of altcoins is not hurting the market infact we need more coins with different ideas and in the end the good ones that we really really need will gain the top attention and this coins will be the ones to survive ,presently we stiil need some new projects so as to move forward and advance more in the technology

Yes, no doubt, as a lot of scams formed, and imagine when 2000 altcoins, and beginners come to the market,and do not understand what to do, and what altcoins to buy?and accordingly take is all nonsense, but as the practice of most altcoins will die out, and will leave the market, and will remain only reliable projects

It seems to me that this, on the contrary, only improves and strengthens the market because people have the opportunity to choose a good project. I am sure that you understand what I am talking about.

it's all temporary. we all understand that very soon 80 percent of those coins or tokens that exist now will not survive because they have no product and they are simply not needed to anyone. it will happen when bitcoin will improved technologically

Sometimes the new coins that are being created have a way of bringing in new people into the crypto space and by virtue of that, there is addition of more market capitalization. The major factor that can cause serious reduce in market cap, is the existence of scam coins or projects, that after getting the targets, they would sell all that they got at very cheap prices, but good coins are still bringing about more development and growth in the market.

People that are investing in this tokens are hurting the market. When investors would be careful and would search for a good project and not blindly invest in every one, we would probably do not face such bad scenario.

It is a bad thing in my opinion. Why we have to deal with a sea of shitcoins majority of which are directed on cheating? Definitely it's better to reduce its quantity.

The main thing that hurts the crypto market is the large amount of scammers and fraud projects. As soon as the market recovers its value we would finally see much better ICO projects that would finally bring profit.

I agree. But in my opinion, this immense number of altcoin in the market could be a menace in the sense that it will make the investment decisions bull of ambiguity and chaos. This is because with so many altcoins around, you have to have enough knowledge to spot the right coin and invest in.

People who do not have the knowledge might fall preys to the impotent projects and so loose.

Maybe no or yes. Having a large variety of altcoins in the market means there are a lot of tokens or coins that are created by team but the mere problem is how they will survive in the long run. Do their tokens has real usage in real life and if no then it's just another shitcoin in the making and probably going in ico just to get money from investor. It's up to people where to put their money and ideas. We need to learn how to control our self and not making a decision that will ruin our investing.

It's a good thing for diversity but it's not a good thing because the market becomes saturated with coins that people don't really use. As some people in this thread sayed, the next bull run will show what coins worth keeping and what not.

Having so many altcoins in the market should have given room for competition that will help the crypto sphere to get better but because mist of these coins are scam,the market is suffering.

Yes, I think the excess number of altcoins has an inflationary effect on the market, and to a degree siphons funds away from the more legitimate projects. However, this is the nature of the market phase we are in, where hype is still a factor, though diminishing. We have already started to see the market differentiate the coins with the strong brand names and active development teams from the rest, and what would be a healthy sign is for the correlation between bitcoin and the more questionable alts to break down so that they head to zero where they belong.

The value of a coin does not depend on how many coins are currently created on the cryptocurrency market. The value of a coin depends on its technology and goals, and whether investors like it all and see whether they are promising.

A large variety of Altcoins cannot hurt the market cap of cryptocurrencies in my opinion. Having a variety of choices for investing is better than having to shortlist of possibly invested coins.

I don't think there's any altcoin out there that has what it takes to exert negative influence on the the overall market. The only altcoin that can do that to some extent is Ethereum and it will only affect its token. Only Bitcoin can have either positive or negative impact on the overall market.

A huge number of altcoins, most of them were almost dead coins, has definitely affect the confidence of investors. There were investors in the past who were hit by losses, scams, and frauds. Aside from investment side, the usefulness of the coins is also in question. How realiable these altcoins are. Imagine that even bitcoin hasn't been supported all thoughout the years.

I guess the large quantities of altcoins is what makes crypto looks bad in general ,I hope there will be a way that many of these altcoins will be dealt with, many of them have no reason of existing and yet many are buying them

There are a lot of unnecessary coins on the cryptocurrency market.  The fact is that it is necessary to analyze the advantages of each altcoin, and then it will be possible to speak with confidence about the prospects of such coins.  Profit from the Altcoins trade is one thing, but the demand for these Altcoins in society and their practical use are completely different.

I also think are too much altcoins and some of them affect the price, but i think this happen not this year but much more last years when people buy that coins with bitcoin and other sell them.

In my opinion, the huge variety of altcoin is good for crypto because people have bigger chance to make money although many of the altcoins are only pump and dumps of the price. With that number, I think people can learn to analyze each coin and find the profitable coin so they can buy and sell the coin. I don't think that the coins were a shitcoin or not, as long as I can use the coin for making a profit then that coin is one the good coin for me.

with a lot of altcoins, I think it definitely affects the market because altcoin is divided into 2, namely altcoin is developing and not developing so there will definitely be a cycle of losses and profits and that makes the market go up and down.
moreover if many people suffer losses it will make investors down and that can make the market go down.

I think it will be bad, but there will still be survivors and consistent, with more variety the market will not be able to keep up so that there will be a lot of crypto being eliminated because it's very important for us to be careful in investing and because I am people who are less experienced then when I have to invest in existing coins, I will only choose top coins like bitcoin or ethereum

About 80% of Altcoin has no liquidity, no exchanges from traders. But most Altcoin is listed on CMC and not removed. And still, get value statistics, so I think the market-wide value listed on CMC is fake numbers. We should evaluate the true value policy and remove shitcoin. Do not judge all Altcoin is negatively affecting Crypto.

I've heard about that, basically, I hope there should be a contest on the crypto assets in the market, that all the unfavorable and not competent coins should be eliminated in order to congest the market price and market capitalization only to those that can make the world benefit on cryptocurrency.

It is making hard time for investors to select from so many projects and it make some confusion. On the other hand competition is healthy and let the market decide which idea and project will prosper.

Rather, such a huge variety of projects in the first place hits the pockets of investors who have invested their money in projects that eventually turned into garbage.

A large number of coins only complicates the choice. In general, this is quite a positive phenomenon for the market, because it is an indicator that crypto is developing and expanding its spheres of influence.

not a bad thing in my opinion, increasing the market really helped develop Crypto so that it could be better.
make a choice so we definitely choose Altcoin which is really good, although many are good so choose a choice, the most important won't be dangerous.
Altcoin will help the market become more popular with the increase in Altcoin.

Yes and no. Which means positively and negatively, altcoins has been the ones who makes the whole crypto game make sense and believe that people really invest in altcoins than bitcoin, although the numbers increases every day and it changes the market values.

It has positive and negative sides. It is good to have big competition among different projects
and ideas and let the market decide which one will survive. On the negative side it is quite
difficult to  filter out the high potential ones.

Actually I think that things would not change so much, because currently the top 20 of the market occupies 90% of the marketcap, and the remaining 2,118 cryptos are taking that small slice of 10%. So if we proportionally distribute that capital between the top-20, the increase in price would be just 10%, something very small compared to the large pumps that can be observed frequently in this volatile market.

a lot of projects are like that, very unfortunate even though from the beginning it has looked good with its development, but the results are very disappointing. because it ends scam and will not produce anything. that makes investors sometimes lazy with new projects and choosing on assets that have been registered in exchange.

Not necessarily friend, because we will not be able to guess that under the top 50 scattered altcoins will probably touch the top 10 because nowadays many people and developers are flocking to make coins for the future to be the next bitcoin competitor. it is not impossible, but it requires hard work and a great community to make it happen

The large variety of coins on the market show how cryptocurrency is growing gradually and this is what will take crypto to the door-step of the rest of the world. Blockchain offers limitless usage hence projects will keep utilizing it. What matters most is the capabilities of these projects to meet the expectations at the end of the day.

The main part of the projects is aimed at a quick profit, and only a small part of startups is aimed at something really worthwhile. I think it really hurts the market. But still, bitcoin plays a more important role in the market.

In my opinion, if there are only 50 coin in the cryptocurrency industry, it would make increase the influence of whales who may hold all the coin available in the market and determine the prices for the coin. Secondly, decentralisation of the financial market which is a key component of the cryptocurrency space will not be achievable.

Lot of new worthless crypto projects hurting the market more than the available cryptos where the market cap values got spread all over the coins.

Huge variety of coins is actually good but what will happen if everyone starts to create their own cryptos.

Well its good for diversification
Bad for investing into wrong altcoins

Because basically 80% of the altcoin couldn't perform in the long run, might be 90% hmmm

This is very bad. now there is a huge amount of alt being developed, but the decrease in user demand since 2018 has many ico scams causes this price to drop so much.

I think so. Now need to purify the shitcoin. Almost all new alts are on extremely low liquidity exchanges

it has become natural if the request for cryptocurrency and ico starts to decline, because they are the popes or some traders are stuck at high prices, they already bought bitcoin when it touched the price of $ 20k and it made many people traumatized and afraid to enter the cryptocurrency world again.

It's good imo, it's not bad to have variety of altcoins. Trash altcoins will be dead by itself because people will not buy it, but good altcoins will keep survived. As a trader, large variety of altcoins is nice, so i can trading with many altcoins and can see many potential on every altcoins.

Too many altcoin have similiar project. I think its good for competition but if too many similiar project and price in exchanger very low, i think its not good for market because investor lossing hope. Its much better if altcoin with similiar project merger and make the project can compete in market cap value

if altcoin has the potential to show itself in the market then it is happened that when ever people like to use it the demand and supply change the value of the market, Crypto market is fluctuating but the strong and good coins makes better the market and the incompetent one hurt the market but it is not a problem of us it is good to do trade in the market.

Opportunist sides of  a traders will agree with that, but for real crypto supporters the market is affected by this alts which keep showing around, the more its offer the more traders will split their money, alts without future will die and those who bought it will lose their money making them frustrated and leave this market, we do have our own options make a good use of it.

A large number of various tokens brings harm mostly to beginners. They cannot take a decision which of them to choose. Many new investors make the wrong choice and lose. later, they leave the market and it falls.

yes of course I really agree with you, I also think that the more coins that are created, the trading volume of a coin will be divided so that volumena becomes smaller, unless the increase in new coins is accompanied by an increase in new capital of investors.

Personally,I would have wanted a lesser number of altcoin to invest with because the more options you have the lesser the chance to pick up the best among the many.It is also very difficult to identify trash and legit coins because sometimes what looks so enticing are actually the invaluable one.

Not really,having as much as coins is the benefits in long term but ot all coins are going to survive so having many coins will not create any such issues about usability but in price it might be a cause since lot of people trying to invest on new coins by paying with their coins like bitcoin and ethereum but most of those new coins will never get any value.

I do not think that a lot of coins are hurting the market. The main pain point is the lack of working products, if every coin on the market would already have a working solution, the prices would vary dramatically and we would have already reached the mass adoption.

Those assets that you said has been registered in exchanges are honestly too much, what are we doing with over 2000 coins in this small crypto space that is yet to witness large adoption rate, even if we witness large adoption rate. The highest coin we should even have in the cryptocurrency space should not be more than 20 at most for utility tokens.

For exchanges too, I don’t also see the sense in them having to create coins. You are already an exchanger dealing with other coins, do people have to change to your coin to get their money change. Too many projects are really killing the crypto interest as the little capital floating round the market is being diverted into different pockets and not channeled to making some of the few good coins more valuable. If we had just 20 coins, do we know what the value of BTC, ETH and others would have been by now?

I think affects. Every altcoin has a capitalization. And it determines how much it weighs on the market. The smaller the altcoins, the smaller the choice of what to invest.

The altcoin economy is really changed in last 2 years if btc price is increasing altcoins used to decreased or get pumped but now the market is such a condition in both pump and dump altcoins are nt getting pumped at all due to they are more number of coins in the market