Bitcoin Forum

What is the purpose of altcoins? This is the very first question I had when I join cryptocurrency. At first, I was thinking that it has no use for just bitcoin should be the real focus and not an alternative coin. However, later on I learn that altcoins are still great even if it has been created for the purpose as an alternative coin to bitcoin and at the same time other altcoins has projects and could be like also a sort of investment that whenever you get a good altcoin one can earn huge to it.

But there are things that bother me about altcoins,

There are too mnany great altcoins in the market already. In fact there are many of it created and working good as well even listed in coinmarketcap.com having good assets. On the contrary, other altcoins were becoming shitcoins and many investors got scam or being promised good but ended not having a good return. And yet, many are still creating altcoins with the same promise to have a good return. The more altcoins created the more it kills the altcoins system. This is what bothers me the creation of so many altcoins until now and still counting. Here are some of dissapointment of altcoins.

First,  the creation of altcoins destroy other altcoins that could bring their project down. Why? Existing projects with exisiting investor may opt back out in the invested project and switch to other projects. This means that other project could go down and other investor in that project will follow to leave as well in the project and the altcoin will become a shit coin.

Second, Investor will have to chose between altcoins and with so many of them in the market it creates confusion especially altcoins with the same abbreviation or altcoins sound or rhyms the same but are actually different project.

Third, Altcoins were becoming a tool for the scammers to attract investors to invest promise good but then end up scammers. This one is really a big issue wherein the country like the USA had inhibited their citizens about investing altcoins.

Fourth, no assurance. There are too many altcoins and of course aside from investing in bitcoin having some extra would tend to invested in altcoins to get better utility or earnings on it. However, there is no assurance to it that it could give you more return in fact the risk is more than when you invest in bitcoin.

Fifth, staking is one worst things that happen in altcoins. They advise you to stake your money to them and then give you profit but you could not move or withdraw your coins being stake whenever you need to. This is like more an abuse or scam when your money being held up by others and give you only interest as earning. This is not a good deal. They earn a lot of the money you stake and you only get a little from them. Again the worst thing is that once your money was stake you could no longer withdraw and high chance your money will be gone when the team leave or abandone the project running away with your money.

It may be disappointing but not all altcoins are bad. There actually do more good. The only thing are those bad altcoins or shit tokens. The only help we could do is to help scrutinize the projects they posted and making some evaluation if it is not a scam. And if found out that the project was scam the thing to do should be report to the staff or DT users or make a posts in the scam and accusation section. It would also be possible to post in the beginners and help for the newbies to be kept aware.

What say you?


Any opinion to that matter?

IMO, I think disappointments are just normal in the crypto industry, Because we all know that crypto is a high-risk kind of investment and mostly run base on speculation, that's why many developers are taking speculative action and adventures into the crypto space, And they are creating tons of useless altcoins that commonly called by others as "Shitcoin's," and the truth is whether we like it or not, it is a never-ending cycle, As long as crypto people are willing to speculate and continue to invest in those projects.

Altcoins are created for no purpose even with no idea, they just create another token or coin which may get included into the marketcap if it succeeds but not many people really want to hold an altcoin, they invest to make one time profits and willing to take the risk for it. Some newbies invest with no idea this is the reason why scammers took altcoin as a tool to loot money from people with no exceptions.

An inevitable consequence of what it has to happen.  There are a bunch of huge dumps piled up with just says.  Market capitalization is diluted from these reasons.  Instead they put in bitcoin.  Countless have been crying because of that.  Dreams about the moon in a hurry.

When discussing about disappointments in altcoins, what is considerably more disappointing is that altcoins generally are short term projects, I think the problem stems from the fact that the creators of this coins/owners of this projects obviously know their coins are not sustainable for the long term, it's more or less 'a game of lottery, 'a pump and dump affair', if you're lucky to take ROI during a pump, then you make profits, but if otherwise, then disappointment becomes the case. I think if Altcoins can start working on the long term productivity of some of their coins, then the disappointments in the network will reduce.

Good and bad people are everywhere and we can not expect every ICOs dev is genuine some are here for the long run but some are also planning to loot the investors' money and run away but it's not easy to identify such projects in the starting. Its investors choice whether they want to stake or not. We are not forced to stake our coins and we know we can not move the coins during the staking period and we have to follow it even many bounty managers create scam accusation threads whenever they find a scam project. Altcoins will be created continuously and we will see more good coins as well as scam coins.

Greed,  some of the dev sole aim is to make quick money and not to develop a project that will actually benefit anyone in blockchain, have you ask yourself why we have countless numbers of rug pull projects, hack projects and the likes! Some hack are inside job done by the team themselves, and the sad part is that this shady team can create several other projects like this in the market because most of the project have anonymous team without no identity,  it is definitely disappointing to say the least, it is very hard to trust altcoins especially new upcoming ones because you never know what their true intentions are.

The first one though. You would not be surprised anymore, as it just does not happen in crypto but it also happens to businesses these days to destroy other business. There would be FUDs to destroy a certain business and the other side would retaliate. It is just those who dominates the market does it all. Oh worth mentioning also that there are simply carbon copies of those project.

Thing is when those scams get reported, they just keep coming back. It is still the best to use their own diligence of their own rather than depending on people. There are even those people that still fall for doublers.

Some project do self hacking and I am give you more points on this. The exchange also do some self hacking.In a recent news, a well know exchange in the Nigeria had hacked by some person worth of 13 Bitcoin. It was huge then the exchange capital. Like this was happening now in the crypto world.

Were you really expecting assurance? If yes then you're in the wrong place.

With cryptocurrencies assurance is a sign that someone is trying to scam you. All the projects that were promising great returns were scams. There's no such thing in stocks and there's no such thing in crypto and all other investments. If you want someone to promise you big money with no risk you shouldn't invest at all.

I will not blame the entire altcoin market but the token market is a different story altogether, all they do is experiment and majority of the token projects will be having the aim to make the profit and they know that it is impossible to sustain the long run and the developers usually run away with the money they raised or eventually the project disappears when the market goes down. 

It's easy to create your own altcoin but it's hard to market it especially if you are offering a service that is not needed here in the market or you just copy the other project to scam people, that's why many failed to remain afloat here in the market and there's no need to disappoint if you didn't invest any money to that project, we can't fill this market with a good project because there's always a bad one. There's a lot of altcoins that are still running good today, better to focus on that.

Disregard altcoins if you do not like it or disappointed by it. Just focus on positive things that has brought you here in the crypto space.

Who would be the one to leave on the investment that they had even they are engage on a new one? Its just dumb for someone to forget unless if he had accepted that the project is totally shit and showing off no progress and decided on not to look on it but for long term and as my own behavior when it comes to this then you would definitely be looking after your coins you possess.

Disappointments is normal because selection of good coins would really be pain in the ass and wont be that easy as it looks.Therefore the best thing to be done is to do your homework and make out some
research if you are tending to dive in with crypto investment.

Assurance was like to have to all the cryptocurrency investors.But almost it's not a possible one.Who give assurance for your trading,the exchanges .Or the coin ,in which you made the investments.It's not a possible one.Only thing is,you can earn with no limits,when the market shaded with the green colour.

People are expecting more. while not all projects have the capability to do that, and when the project they invested fails , stuck and corrupt nobody can save his assets . and the worst possibility he falls to scam project ( its already lost in the first place ) that's why I don't like investing in new coins, even though there are many stories that give big profits for become early investor but the worst possibility is also much bigger. I'm still on coin2 that already exists on market and and has a large community.

I believe we all felt the same as we also have terrible experiences with shit and fake projects. Their numbers are still increasing and there is no way to stop them from spreading and tricking people. This gives some reason why many had to keep doubts and negativity as they heard about issues like scamming and losses.

But I do hope that we could get some solution with these, even though we can't stop people to create fake and worthless projects and by sending awareness and thorough research we can still prevent newcomers to fall into their traps.

As much as we hate it, we have to admit what's going on with the current altcoin market.

There are literally hundreds of scams and fake coins out there, just hype and meme and all for the money grab. That's why we always wanted to warn investors specially newbies because there's a lot of traps out there. And as the nature of crypto is open and decentralised, so obviously this won't stop the creation of so many altcoins that will simply plague the crytpo space with non-sense and shitcoins.

Most cryptocurrencies projects teambe having the purpose to make the profit.Dont expecte assurance If you're in the cryptocurrencies macket.

Higher profit also means higher risk .If you are fear of risk you shouldn't invest at all.

Disappointment is even an understatement. When we look at how many altcoins were created and then left behind without having released even a single product despite the millions and millions of investment from a lot of people, you don't only get disappointed. You would probably feel anger. That anger would even go to another level if you know that the people behind those failed projects were actually scammers who just vanished after making easy money. And it would touch the extreme after knowing that they are not even prosecuted or brought to justice.

thousands of altcoins were created but only a few managed to survive and thrive in the market. that's exactly what happened. we don't have to be upset about everything that happened. what we need to see, so far the market has achieved remarkable development. In the last 2-3 years, we have seen how the crypto market has strengthened after a lot of distrust of the crypto market. and now everything is getting stronger.
just ignore the failed ones, and we support and enjoy the successful process in the market.

It is their own mistake for stupidly expecting easy money while they are entering the riskiest place to invest(but profitable also)

Contentment is the answer, if you know limiting your expectation then no one will lose , without greed.

There are too many altcoin projects. There may be some good projects that have solved some of the shortcomings of Bitcoin, optimized the shortcomings, and brought some innovations. But now many people with bad intentions have entered the crypto market. They The purpose of the project is obvious. It is to simply launch some altcoin project tokens, carry out some promotion, and promote that they can reach a high price, and then the money invested by people who don’t know will be harvested by them. It is too simple to make a project now. There is also no relevant supervision department to supervise this part of the activities, causing great market chaos, which leads people to hold a negative view when mentioning altcoins. However, some really good technical teams do projects because there is no publicity. It was buried like this.

Investors always look into altcoins that has a good petformance in the market, on top list and have a good feedbacks. Usually, those on the top lists were the ones that has been chosen by investors because they proved their useful significance and improve well as time goes by. It means, those altcoins are well established and old.

Unlike those new altcoins that wasnt sure of it's potential gains. Most of them were abandoned, although there are still few who are good altcoins to invest and has a good objective and product.

The altcoin ecosystem is designed in a way, which makes it very difficult to prevent scam projects. For example, there are hardly any restrictions on new ICOs. Anyone can plagiarize an existing white paper, and make some cosmetic modifications and then present it as a new project. And before even 5% of the development work is complete, the team can go for the ICO with a valuation in tens of millions of USD. And the most surprising aspect is that there will be lot of potential investors who are ready to pour their hard earned money in to such appalling projects, despite all the red flags.

Don't ever forget about the principle of cryptocurrency which is decentralization. It means no centralized power or institution behind, people are free to make any projects and people are also free to choose their investments.  It also shows how the jungle law exists,  the strongest win. it also shows the principle of supply and demand, people are free to buy anything they want that's offered by the market.  Your opinion might be valid, but I choose to see the more positive sights. I thought the arise of those projects enriched the current crypto market and diversified investors' choices. It's all back to investors how they choose their investments wisely.

The ultimate goal of any aspect of activity in everyone's life is to be happy and successful.
Success depends on confidence as well as competence. The more confident you are, the higher your chances of achieving your goals. A low level of trust results in inaction.
Be a human full of action. Keep taking action, it will strengthen your belief in your ability to succeed.
Confidence accumulates through hard work, through success, and even through failure. So, if you want to be successful in life, Work harder and harder.
Good luck

The reason for this is the easy way to create one token with small fees and with some light promotion and hypes, they create some kind of pump and dump coins and when they evil plan has been successfully executed where they escape without a trace, they will create another one with the same reason again. The list goes on and on until we have a huge list of shit coins nowadays. As you can see some of them are not like that since when they said they have some good backup big investors and their project will go public in the next month, it will come true but only a rare project will do so as we witnessed a great fake project right now is on a scamming-free.

Yes, but we can also see that everyone who has invested from the past until now, all of them are people who have considered risks very well so that the fear of each risk has begun to decrease, although there are a few complaints that might hinder their work in the crypto space.

Those people know how to manage the risk and they will not invest if they doubt that. They search for more information before investing in anything, especially if they want to invest in bitcoin because bitcoin prices fluctuate from time to time. Those investors will not just invest in the project that they think the project can not give them profit in the future. They know how to be careful to invest in any project.

I think what many people in this thread here miss is that this is a fundamental part of open source technology. You can't have one without the other. It was to be expected that people take code and fork it into another alt coin. A hand full of those forks did good work, modifications, innovations, and so on.

It is not much different from what is happening with financial products in the banking industry. Take for example the bundling of faulty mortgages into triple A assets and what not. That is just part of the game and not something to be sad about. We want open source software? Ok, so we need to be careful when we use stuff that obviously has been used by someone other than Satoshi to create his own coin (or any other open source code for that matter).

The cryptocurrency market is an open market and creating a new coin is free unregulated and anyone can create one because it's a free source and you can hire developers to create a coin and it's not expensive to create a coin/token.
Even scammers can create a coin and make it appear legit and in a long term, the market is full of deception, if you are not updated on what to look for on a project, you will lose a lot of money.

Yes, it's true, Alcoin failing in the market is a wonderful thing, because they are not able to maintain an existing project, and disappointment in the crypto asset market now is very much felt, because many are serious about investing in the long term or the future, and unexpectedly this all happened.
I just hope that what happens now is not a bad thing in the future.

There could be some chance that one day the altcoins will going to improve or will be remove one day recognize onky the establish altcoins.

But we can say it differently: the more altcoins are created, the greater the chance to see a really worthwhile project. This is a market and every developer must contribute something truly new and revolutionary in order to surpass existing projects. And with this development of events, it is impossible to do without scammers, who will definitely be present where there is money and people who do not have the qualifications to understand the technology.

With so many altcoins in the market, it will certainly make many people confused about choosing a coin that is really good to have. that way we can get great results. Actually, this doesn't need to be bothered because there are still many altcoins that really have good prospects and if we choose good coins then we will avoid bad coins or scam projects. being careful in choosing a good project to follow is important so that we can avoid big losses. coin in the market is a competition so we also have to be much smarter in choosing coins that are good.

Besides that, we will have more chances to make money from those projects and see which project can survive in the market because only a strong and good project will have that chance.
Those altcoins will compete with each other and when one altcoin can not do that, they will lose trust from the investor, and they will not have a chance to continue the project.
In the end, only a potential project can stay in the market and will get popularity in the investor's eyes.

Don't ever feel disappointed with the many failed altcoins, shit, and scams. 
because no matter how disappointed, this will not be cured and such a project will not end. :D
We already know how many projects come up with:
- The concept is more than ideal, very good, and even almost difficult to realize.
_ a project with a good start, but strayed and off guard in the middle, then disappeared
- a project that has been neatly organized, but did not succeed in the ending, tokens have not been listed on the exchange, and the roadmap has deviated far from the plan.
- a project where the token is already listed on exchanges, but there are no good and strong fundamentals, a weak team, or development that doesn't work, so the token quickly becomes shitcoins.
- a project that was fake from the start, a scam.

Without failure you do not get success. Do you think that bitcoin was the first coin similar to the idea? There were "online money" ideas going around for nearly 2 decades before bitcoin was created, you know why bitcoin got the best of it and became the big thing? Because others always had a problem, it was never a great fully perfect thing, not like bitcoin is neither because we have seen a lot better blockchain since the creation of bitcoin but at least it was the first non-problematic online coin idea that worked. After that we tried and failed a million times, this allowed us to have thousands of bad coins but also tens of great coins with it, now there are so many different coins that worth so much and I believe that counts for something.

Of course, we should not be investing into those failed ones or the ones that look like it may fail but at the same time it is definitely something we should be thankful for because those failed ones allowed the good ones to improve.

Well, your whining about Altcoins I think a lot of people who have been in cryptocurrencies for years already do. The trend is that more Altcoins or Shitcoins are created, yes, you need to keep in mind that within Altcoins there are projects called Shitcoins, if you do that, it will greatly reduce the number of your Altcoins list. With the creation of new projects, it will be necessary to spend more time with research, just focus on those projects with community and that develop eventually. Cryptocurrencies is synonymous with freedom, so it is not interesting to ban and disqualify any idea of creating new projects. You need to learn DYOR correctly and with that you will escape problems avoiding loses.

Isn't it how it is supposed to work? The superior one will always dominate. So if a new project with better tech and features are released, people will jump into it, leaving the old one behind to die. It's a good thing.
If someone is going to invest their money, they are going to do proper research and learn about the coin they are going to invest in. If they get confused because of "similar abbreviation, name or rhyme", then well, they didn't do enough digging and all they wanted to do is invest in that shitcoin and get rich real quick. So if they lose their money, then they deserve it for being greedy. At least they will learn a lesson from it.

Other users are really saying their opinion about adaptation on the current trend. So whenever shitcoins are created then it became just a normal thing that happen. It might be a good principle or ways to avoid disappointment but if you are really new in cryptocurrency then definitely you will going to be disappointed with the current system that run through the altcoins system.

99.99% of every altcoin is just a clone with a different name and supply.  There is no point to most of them.  In fact I'd go to offer and say most of the people who create them have already created hundreds of others, they profit and move on.  That's the game.  Ignore them and it won't bother you anymore

Although it looks easy to profit due to high volatility, it requires a special strategy. to be able to get the right buy position we have to do analysis, some like technical analysis, some like fundamental analysis, some combine the two. whichever is up to you, it's better than just relying on luck.
every time you want to start, make sure we understand what we are going to invest in, calm down ... no need to worry about missing the boat, the cryptocurrency ecosystem is still very wide and there are still many opportunities for growth
don't invest in something you don't understand, or invest because of fomo, it's a fatal mistake because you can't control it.

I don't disagree. The open-source setup gives an environment where people are encouraged to create their own projects because they don't have to start from scratch. They already have the complete set of codes to begin with. They only need to do some tweaking and there you have it. It is another project they may call their own.

But this is one thing. It is another to scam people out of it. It is one thing to fork an open-source project, it is another to launch an ICO and exit as soon as millions are raised. Copying a set of codes which is made available to anybody is not a problem. Running away with the people's money is. It needs accountability. It becomes a legal or even a law enforcement matter.

The creation of altcoins is free, and it is not regulated by the government. Many altcoins are created for profit, in order to obtain higher profits for themselves. Altcoins are short-term high-risk investments, and altcoins will slowly disappear over time. When investors get high profits from altcoins at the beginning, more and more people will start to invest in altcoins, but when the founding team gets money from investors, they will choose to run away，it is full of deceptions on the crypto market.

You're certainly right about the confusion that it gives to people which new token to invest but on the other hand if a person really knows the basic knowledge about cryptocurrency which I mean even distinguishing or by just read the whitepaper or making a deep research about the project this person wouldn't compromise any amount to lose. The world of crypto is composed of a well-skilled developer which are trying to make their own kind of profitable coins some become successful and some are not.

If users stop investing in shit projects, then there will be less number of failed coins. Right now the situation is that the promoters are guaranteed to get tens of millions from an ICO, even if the project doesn't have anything unique about it. Most of the new projects are just old wine in new bottle. And in many cases, the promoters stop their development, once the ICO is complete. Even after all these years, investors haven't learnt any lesson from their failures. They still hope that there will be that magic moment where they get 100x or 200x returns from a new project.

I don't think failed coins are the problem. Failed in the senes that someone really tried. That is part of any industry where start ups launch and fail. The real issue are the outright scam projects disguised as legitimate and hard trying. It is difficult sometimes to differentiate the scams from the real failures because you could pretend you tried hard, pay yourself a decent salary and let the coin fail on purpose. I believe that happens more often than we would think.

In such cases, you need to trust professionals whose work is aimed at selecting promising coins for investment by large companies. Look at the investments in cryptocurrency by specialists of Grayscale Investments Holdings, they will not buy coins that do not have development prospects in their opinion. Recently, Grayscale has expanded the list of altcoins for investment and you can also invest in their chosen coins: https://www.bybt.com/Grayscale

People keep creating coins for different reasons. Since many new altcoins are created by companies, they all want their own tokens which they think they can trust as they'd be under their control. A company might not want to risk adopting someone else's altcoin because of not being in control, but also because why bring profits to others if you can have your own token and get profits for yourself?
The crypto world is swimming in useless coins most crypto users have never even heard of, but it doesn't mean that they're killing the altcoin system, as you say. People just ignore those coins, and many are still interested in top ones, such as EOS or ETH. Some useless altcoins also gain some attention of investors, but I don't think it's done at the expense of top altcoins. It's just about more people joining the market overall. In any case, I think it's a fair price for a free unregulated market.

Good if you can learn from your mistake. I am sure you will get your chance to make a profit like other people and that will only be a matter of time for you to wait. Many developers create new altcoins or tokens, but some do not focus on their projects and only want to scam people by promoting their projects using many social media. They invite more participants to help them promote but in the end, they just run away with the people's money. Maybe we do not have to invest in an unknown project that we do not know just to prevent the scam project that will always happen.

Glad to know that you already took the lesson and learn how to avoid scammers.
Scammers will never end, failed and the shit projects will be always there.
That is why, we are here to learn in order to be more and more careful, smarter, and also wiser.
Following any hype to buy certain new projects promoted by certain people or influencers may be also very risky. As what happened right now, there are many newcomers that are here only following hypes, buying shitcoins, adn then losing much money. What happens next? they hate crypto itself because they are doing wrong in entering the crypto.
that is why I said that glad to know you taking good lessons from your previous mistakes or bad experiences.
yeah, experiences always become a good teacher and partner.


And about disappointment because of the shit projects, never take it too deeply, because shitcoins will also exist.

That is why we need to keep learning about evolving scams as well. What you could be scammed 5 years ago in crypto is no longer what people try to scam you with, we all know it and nobody does it anymore, however there are newer and better and bigger scams and people are getting tricked into that.

The biggest scams are usually the ones that can reach the biggest number because when you get to a certain number the rest is very easy, for example if you have a thousand people you scammed before pulling the plug, reaching to 10k is easy after that, that first thousands is hard the rest is easy. The reason for that is the fact that people keep saying "thousands can't be wrong" when they are investing and that is why they end up losing money. This has always been like this until the places can't pay anymore and they say they are "hacked" and run with the money.

Yes but the issue remains for the outsider to differentiate a deliberate scam attempt from an unsuccessful startup attempt. As an insider, you can always make it look as if you were trying hard but simply couldn't get it done. You could even publicly admit you were overwhelmed, underestimated the challenge and now burnt through all the money you collected and say sorry. How does anyone know if that person is lying or saying the truth with the end result being the same: the investment is lost.

Investors are yet to be disappointed cause they are still investing on new projects which promises them to be the next bitcoin or going to be the best of altcoins but still they are selling it for 50% discount. Did you see anyone selling their bitcoin for half price?

So wakeup from the dream guys, don't look for the next bitcoin since we are encouraging the scammers to steal our Money.

but we see a lot of projects that end up not getting initial funding because otherwise, they can't promise something big to investors. eventually, they also have to stop the project. or as you said, major investors sell their tokens early which will disrupt market development.
The ICO is still running, but I'm sure the thousands of new altcoins right now will be useless. they are in the market but will not grow because the market response focuses on those with great potential.

So only the people who is selling it earlier get all the benefits but what about the remaining investors, so all these new projects are created with the purpose of giving one time profits to some of the investors or they create it to bring any changes in the existing Market.

I have seen this happened with a number of projects and it really did result into the disruption of the maturity of the project in the market and disappointment of the participators in the projects. It is cruel to just think that some are intentionally doing this, taking advantage of the opportunity at the expense of others, leaving them with nothing or losses.

With cryptocurrencies it is so extremely easy because everything is open source and they can just fork the code, maybe make some tweaks, write a white paper (or copy that as well) and launch an ICO anonymously. For scammers this is a paradise. If they are careful they can never get caught. That is a side effect we all have to live with. If we want the things to be open source, we must know that someone else will take the code, start his own project and it could be a scam.

Haha that how our world works dude, people figure out they can make a cash grab this thing to the ground.
Countless copy cat born with no innovation whatsoever or even solve problems that they don't have in the first place.

Have a problem? solve it with blockchain!

People who are scamming are criminals and they are never going to stop until people let them to do, in the investment sector people are investing again and again after they faces many loss which is what feeding the scammers to be here.

More likely riding with the hot train and scam people to grab money without their knowledge,

those copycat projects still works since there are lazy people who continue to believe with

sweet promises of quick success. We can't deny the fact that both sides are after the money

and sad to say scammers always win the race.

Open source provides an opportunity for everyone to create their own profit. We cannot influence this process, therefore we cannot prohibit the creation of altcoins. At the same time, thanks to such decentralization, when there is no one person or body that would allow or prohibit the creation of altcoins, cryptocurrency continues to develop rapidly and this, in my opinion, is the only right way. Even if from every hundreds of new altcoins only a few useful ones remain, it is still their rapid development.

You can't exactly be sure what they think. They might have an idea about something but who knows whether they are true about what they say? I think it is more difficult than we all believe and we should invest our time in creating something great!

If you come think of it, many of these altcoin investors, are also avid supporters of these coins. I am positive most investors made their research and made their decision to support the coins however long they have to wait to get something out of their investments. There are also those who somehow were also supporters of certain projects but they picked the wrong projects and their investments became a failure. Such is the world of cryptocurrency, when one wrong investment would mean a lot to so many. But also I think many of the investors are not putting all their eggs in one basket and they also invest with the big ones like Bitcoin and Ethereum.

This is true that most altcoins are clones of some other coins, just like BCH, BTG, BSV and so many other coins were made to profit from bitcoin's popularity. That said, they create diversity.
If you had only one coin to choose from you wouldn't know how good it really is. Thanks to shitcoins like BSV you can see how good BTC really is and how lucky you are to own a decentralized coin that isn't linked to some weird individual who goes to court every time someone calls him out in the Internet.

many people interested build their own project although with less skill and knowledge about blokchain and crypto market, but the easinest creating token be a trigger for this trend. There are alot new projects launched today , and they have similar concept with the existing project even there is no uniqueness. As investors we must carefull with this kind projects, it will not survive for long term.

Oh it's pretty much the course and has been since the first forks started coming out.  Ypu can honestly believe ypu will retain your investment in any of these shady coins.  It's a gble in hope of a quick flip, the fact that people get pissed amazes me since ypu pretty much need to look at every "project" like it's a scam outside the course of a select few decent actual projects out there.

It could be also the reason thousands of failed altcoins are just because once they had already exited the scam, they keep coming back with a different name and other promises that will lure investors and scam again.  If we don't have proper research on it, we will always suffer from losing our investment.

I don't understand people why they give a chance a new project will potentially scam again, instead, you can give full support to Bitcoin and invest as many as you can since it is proven and tested when it comes investment, you're safe if you know how to be patient.

Cryptocurrency came into existence because we wanted to fight the idea that the government can just print more money and thus increase circulations which can be affecting the value of the money you are holding today and into the future - the problem of inflationary asset. Now, with many altcoins I am seeing the same kind of mindset - set-up a project whether the use-cases and the technological expertise can be there or not and then invite people to shell out their money in return for some coins or tokens. I am seeing a big similarity to the printing of money here. And the saddest part is when the coin or token will eventually have no real value in the exchanges...that is the biggest equivalent of a big rip-off inflation much worse than Zimbabwe experienced. Just my opinion, anyway.

I get what you are pointing here, as long as people project themselves as targets and become baits to these scammers, they will continue to exist and lurk around. Although victims are partly responsible for being scammed, I believe that they are only being taken advantage of because of their hopes that sometimes make them blinded and gullible with opportunities.

And to add that with the existing numbers of coins today, people are having hard time to discern which is which, especially the newbies.

@op, one thing we all should have at the back of our minds as we get involved in crypto is that the system is completely decentralized and as such, it not regulated by any government or authorities, this means that anybody from anywhere in the world can decide to create their own crypto coin and no body will question this decision, it's up to you/us to decide whether to put our money in such coins or not, this is why it is highly adviced that before you invest in any crypto coin, try as much as possible to research the project very well and make sure there's no red flag pointing to whether such a project could be scam or not, there are sure alot of scam in this space that some times, it's very difficult to differentiate the good from the bad, but the beautiful thing is that is scammers dont force anyone to invest in their project, they don't go into your wallet and steal your money without you giving them access, it's up to us to educate ourselves so we can always be atleast, a step ahead of the scammers.

Many or few cryptocurrency programmers has taken it as an opportunity to manipulate the market by developing altcoins that can never cross the border of becoming enlisted in crypto platforms. A lot of shit coins are all over the internet looking for people to invest in them so as to run away with funds leaving the coins to perish over limited time. This is a wicked practice that had been going on for time now, making people to fall victim losing their hard earned funds.

Meme coins had made the cryptocurrency market more risky than normal because of the increase in the number of scam projects that are alluring attacting investors to invest in their coins, at the end of the day dumping the project to create another one. The creation of all these coin is really affecting the trust system of the entire crypto market. One the to make thorough research on a coin before purchasing it, making it difficult for investors to free invest in different sorts if coin of their choice without have two thoughts or it been too risk. Meme or shit coins had also affects good projects of excelling because investors are scared of putting their funds where it will not germinate mostly due to previous experience.

Developers of new coin usually take advantage of Hype as there is now, there are a lot of meme coins then the team will copy paste like build a Dex exchange then they will offer staking and farming to prevent price drop, there are a lot of new projects and we need to be a little careful- be careful when investing because it is not easy to choose a new project so they really have a good team and plan the project according to the roadmap.
New projects will always be there and no one can stop this advancement of technology and ideas apart from the users, if the project seems like it will fool us then stay away and don't invest

The creation of some altcoins was initiated by crooks, by modifying the code casually. Change the name and pretend to be a new coin to deceive everyone's money. But there are indeed a lot of new coins. Through technological innovation, altcoins are getting better and better. It is still recommended that you understand the project before investing. Investment is risky and you need to be cautious. If you encounter fake projects, you must report.

With the popularity of the cryptocurrency market, a large number of altcoins continue to increase. Most altcoins were created in recognition of the profitability of cryptocurrencies such as Bitcoin. Altcoins' initial low-cost and high-profits will attract a large number of investors, but it also carries great risks. Most altcoins aim to obtain profit and target investors’ funds and will die out over time.

The decentralized feature of cryptocurrencies market is responsible for creation of tons of shit altcoins of course most of their developers abandon those project mid way to their roadmap thus rendering those altcoins worthless in fact Binance recently delisted some shit altcoins recently, I believe those  developers created those shit coins in a bid to make money and later abandon it afterall there is no regulations in cryptocurrencies market thus any Tom, Dick and Harry can clone any of the existing coins in the market and launch an ICO to generate funds. Investment-wise it better to invest on already established altcoins majorly picking from the top 100 in coinmarketcap.

I am not sure if the majority of tokens and coins is listed on coinmarketcap, but for now there are close to 6,000 listed. I think it's a no brainer to conclude that 95% are really just scams and money grabs. The sad part isn't the number of coins though, but rather how often these scams worked out for them.

You will be surprised that some alts are not yet listed in cmc or coingecko, and yet they are in the trading market. Sadly, only few percent of these alts have actual use case in the market. Most of them are just redundancies and repetitions. So it is your prerogative how you will choose a project that you can  really invest your resources. And it is your responsibility to keep up with their developments.

As I've checked on coinmarketcap listed tokens, there's a lot of project has be untracked and most of them was those soaring high during 2017-2018. Ico project tokens has no definite community support, though there's some random selected asset was gaining success but let's be wise on selecting which would be the best picks. To overcome disappointments, just choose the list from top 10 coins to satisfy your desires

It's you're money and you need to be smart about how you invest it so you don't get scammed or rugged. I got rugged several times so now I only invest in mineable tokens with no dev wallet like BTC, RVN, and 0xMR. That way nobody can exit scam or dump on me. So far my investments using that strategy have done extremely well.

This is true, most altcoins were created by their dev to scam people. Unfortunately many investors are greedy and still buying this kind of coins because of their hope to gain huge from it and also because of the promises of the dev. If only investors are careful and taking time to research about alts that has potential and unlikely to become scam then being a victim can be prevented.

There might be plenty of altcoins existing in the market but only few of them has worth. Its our responsibility as an investor to dig deeper before investing to not ending up on shitcoins.

altcoin cant become a shitcoin if it wasnt made for this purpose but a shitcoin can be born right from the start and them as a investor cant see it because they only foccus on whats being promised to them.  this is the biggest mistake investor can make . i wont invest on a new project that came out of nowhere .
more if the project offers almost the same as what im currently investing but promise more returns because thats clearly an attempt to attract previous investors to transfer to them and scam them.

Its just the same as creating company, making altcoin is also essentially making company and not all of them gonna succeed make them millionaire very fast. Theres tears and blood in every success of a project so if you are an investor expect the project to run not as smooth as you imagined as there is always something need to be tackled. And to be honest its like common sense in investment, i think why people gets disappointed because many of them putting too much expectation after seeing the crazy bull run that has happened and turns out its not as what they have imagined

A few percent? I would be very surprised if even 1% do. We're talking about 70k or 80k coins in total now remember. Listed and unlisted, on ETH and on WAVES and NEO and TRON.

1% is 700 or 800 coins that have a real use case. So that is for sure not true (having a use case but nobody is using it makes it NOT a use case by the way).

I agree with you on that point that there are a lot of altcoins out there and i would even say that a huge share of them are completely unnecessary and it would be better if they would not exist like for example all those meme-coins that came up within the last months and completely took away volume and market cap from other new coins that have a purpose.
I don't really agree though that it is a bad thing if a new altcoin tries to do something that another altcoin is already doing. I mean that is normal competition like it should be in a free economy, maybe it is annoying if you were a hodler of that coin that existed before and now drops in price because some new coin makes the same thing better, but if both projects are legit they should both be able to survive. I mean just look at car companies, there are like 50 of them in the world and most of them  still manage to make a profit.

Actually, it depends on how the term of use case is used or referred to. Each of cryptocurrency is definitely has a use case, they might claim to be a decentralized currency, has a fast transaction, etc. The thing is about the implementation of those use cases does it really true? any use cases would be useless if there are no verifiable implementations. Then we can come to the last point, the usability, whatever the dev/community claims about any cryptocurrency that has a use case but none of the usability, then it becomes as of those unknown cryptocurrencies that exist in the market.

I honestly think that the usability problem is still our major obstacle in the whole cryptocurrencies space in general. People need to widely utilize cryptocurrency in order to massively scale the adoption.

We all have wants in life, if we see our neighbor bought a new car, appliances and other material things, we're tell to ourself that someday I will acquire this things, in crypto world not only this successful developer has a dream, even you, you could create your own innovation if you have, lucky to this people who are achieved their goals and their project is now popular and feel sorry to many who've tried their best but there is no luck for them. Cryptocurrency is a open world every people may develop their own currency but the problem is if their currency is acceptable to the people.

But greed based on what your neighbor is doing is bad. That is why the ICO craze was so insane in 2017. It was all over the news, many of the tokens went to the moon and everybody though they are going to be rich now! :D Then came the crash... And that one hit hard! Now we have a huge graveyard for thousands of tokens.

For me use case isn't just about "creating a possible use for a coin". Use case is about providing a solution people WANT and people NEED because of a real problem they have. And this means, if a coin really has a use case, people will USE it.

The fact that all shitcoins with supposed use case are only being used to speculate and be sold, dumped, and pumped, proves they don't actually have a use case. "Decentralized currency" is not a use case:) Fast tx is not a use case. These are features:)

We won't have a point if we have a different definition of the term. Let's just agree to disagree.

I just want to emphasize. that all project could give their own promises to their community or everyone. In the end, it depends on how the usability and the adoption which the majority of people that will they use.

Fair enough, I guess. But I do think we have to stop feeding newbies and newcomers false promises and false marketing (saying use case when there isn't any, saying decentralized when it's clearly not, for example).

Broken "communities" full of wen moon lambo people and scammers is not a healthy community. Communities that don't even last a year when tokens dump, isn't going to help mass adoption.

Very good point, as long it is possible feeding those newcomers to avoid projects that only exist to allure investors.

Projects that don't have real case usages and just full of sweet promises, we are in this wild market where lazy newbies are always aiming for quick profits.

Though, it isn't our business but helping by sharing your knowledge about it is not bad right? it depends how will those newbies will take things in their hands.

Very good point, as long it is possible feeding those newcomers to avoid projects that only exist to allure investors.

Projects that don't have real case usages and just full of sweet promises, we are in this wild market where lazy newbies are always aiming for quick profits.

Though, it isn't our business but helping by sharing your knowledge about it is not bad right? it depends how will those newbies will take things in their hands.
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I mean, I don't blame projects entirely. The fact is, the market is full of speculators who WANT only short-term gains and don't want to be crypto users and adopters, just crypto speculators.

But it's a circle jerk, and if you starve the supply, you'll also kill the demand.

Or, just stop wearing the mask and just go outright and say we're a ponzi or pyramid scheme;)

Actually, you are mistaken about staking. In adequate and working projects you can always withdraw your assets whenever you want. (It doesn’t concern Ethereum 2.0.) To understand if this project is a scam that will not allow you to get your money back you should always read docs and investigate social media of a project. One more useful thing is to look through the smart-contract.

Personally I can’t agree with you. Some altcoins carry real value, so I  stick to the strategy of choosing some altcoins in the top-100 list on coinmarketcap, and then to hodl, and buy more on a regular basis. Of course, there are some coins that exist only for speculation but definitely not for holding (meme coins). To decide whether I am interested in this altcoin I investigate and understand the idea, read documents, find out about development team and marketing campaign.

Failed altcoins are generally scammers, but it seems difficult for everyone to analyze which project is a scam. Many people invest with everyone without thinking about themselves, and there are also many scammers who will find people with fans to make hype and publicity, so that everyone will usually be deceived. There are still many copycats that are issued normally, but no one pays attention or purchases them, so they will slowly die.

Of course, I do agree, we should guide the newcomers to the right path. Nevertheless, we can't help them all the time, noting there is a lot of thoughtful learning material available. Meanwhile, yet people still get scammed because of a lack of critical thinking.

Also, I'm not implying to let all the shitcoins creator giving all the promises they want, but basic foundational thinking and as the old saying goes about DYOR and DWYOR should be a basic thing that newcomers have.

I personally think we can't stop the shitcoins from popping everywhere and giving false promises nor marketing. There will be always someone that gets lured. I do actually think it might be because people that come to this space have a mindset to get rich quickly.

Being around here for almost 5 years now, it is very difficult for me to agree with you. Not all the failed projects are scams. Sometimes really good projects fail to attract interest from the investors, due to a variety of reasons. It can be due to general downtrend in the market, or due to issues in marketing of the project. And also, not all of the scam projects fail at the market. We already have two such shitcoins in the top-10 list, with a market cap of more than $25 billion. So you need to be more careful while generalizing projects based on their success in the market.

For sure, education is always best self-served. But at the same time, people are people, and if you attract more of the wrong type of audience, then you also are responsible for nurturing and keeping that vicious cycle of misinformation... making it harder for genuine newbies to find the right information, and coming to the wrong conclusions.

DYOR is now a mere disclaimer like projects just washing their hands off responsibility and accountability.

I'd never think that was so easy to analyze if that particular project is a scam or not coz if that only happens in real life, I'm sure nobody had fallen into this kind of business but are a lot of noobs become victims and the problem still doesn't have a solution.

my honest take to this is that we can't simply recognize a possible scam unless if that is very obvious. But scammers are smart enough to hide their true color and really win. If we are frustrated or disappointed with the market situation, it was best to invest only in reliable coins.

Aside from that most of failed Altcoins also due to the team hardly able to keep up with the project or even the project itself stuck on its popularity not gaining traction in the market.
With failed coins that are because of rugpull they usually grown in popularity but the dev just decide to rugpull, but most of people overlook coins that consistently giving update but it become unsustainable when the project didn't get popular.

Well for me, cryptocurrency is one big experiment with millions of participants, each vying to make lots of money, either by trading, investing, mining, staking, developing coins and tokens, or becoming the startup company and becoming a businessman which started the ICO craze in 2017. Thousands of tokens and coins were created, marketed, and advertised to millions of cryptocurrency enthusiasts.  So far I seldom hear any success stories from people who solely invested in alts.

Simply because the team is not really after to anything but just to get the money out from the wallet of the investors, the intentions is to get the

attentions and once they'll already gained the target amount, they'll just disappear and runaway with the money.

Influencers affects the decision making of some investors and traders, the impact shown inside the project is simply temporary, it will die along the way.

Altcoins has been a confusion in the market. I have seen newbies that are confused as to which coins that they should invest their money in because there are so many, thousands of them. So, I think in a situation whereby you don’t know what you’re going to invest in, the best thing is to just look for those altcoins that are popular and has big market cap. Those are the ones that are much reliable.

If you’re someone that’s starting newly, you can start with Bitcoin which is the main coin, and then altcoins like Ethereum, ADA, etc. That way you’re sure that you’re very safe and won’t be losing your money in the investment you’re about to make. There are lots of scammers these days and you have to do your best to avoid them. If you’re going to invest in a new token, you should get to know the team and verify that they are who they all claim to be by checking their social media profiles. And also be sure that they are the ones behind the project.

Yeah, I get the point that if the communities are filled with falses promises or bad intentions without anyone correcting it, then it going to be miserable. I do agree, although we can't stop such unreasonable/scam projects keep popping up, we need to guide the newcomers to the rightful thing. in consequence even if the number of scamming keep adding up, the good will be outweighed the bad.

I think it is important to know that any altcoin or rather any team developing an altcoin and promising users or investors good return, such altcoin should either be avoided or taken with very high level of carefulness. The reason for this is, the crypto market is controlled by a lot of forces and factors and as such no team can really say or promise their investors a certain gain within a particular time. I have seen such altcoins whose team promised such but investors only ended up being dumped on, in fact a lot of altcoins are currently in such way.
On that other hand, what a user or investor ought to focus on is what actually they team are capable of doing, developing and promoting, once the team gets this right, that altcoin will have enough room to grow in the future. So lastly, i think it is not advisable for anyone to bank on any promises from the team but rather their capabilities and potential.

I don't see any reason to invest in scam projects even if you know it is going to be profitable unless you keep holding it. At one point you will be able to sell it in profit and that is what matters for the majority of market participants. New projects are like a lottery, better not to mess with new projects unless you know what you are doing.

I don't believe in karma and all that, but yeah, even in this kind of industry, which is so new and which is so fragile still, it's not easy to nurture and if you don't do your bit, and if projects also don't do their bit, they're going to end up doing so much harm. People will begin to see it as a scammy place, the way we all view ponzis and HYIPs now. And when that happens, the only new people coming in are speculators, not users.

They are failed because of the money, They are making and making of many alt coins without use-case things. They build because of money that they can earn upon hyping a crypto. Its all scam. So I prepared my self on the alt coin that has many things that can use in the future. Like farming, earnings. Etc.

some new projects are just taking advantage of the hype in the market. they hang fast but also seem to disappear quickly. It's a shame for projects like this because even if we hold the token in the long term, we won't get any profit.

but we also have to realize, the existence of a new project also results in fairly good adoption in the crypto market. when there are hot new projects, the absorption of market adoption of crypto assets will increase. it is building its own strength in the crypto market.

Many alt coin projects have sprung up and most of them disappoint and end up rug pulls. this problem needs to be taken seriously and there must be regulations governing the alt coin project. so that in the future no one will be harmed in investing with new alt coins. basically every new project must be reported and audited.

But you have that in all areas of the financial industry. Just take the bundled faulty mortgages that were sold as triple A assets and many other financial products that are being sold on a daily basis and are totally useless and will almost guaranteed never bring you any returns. In a certain sense it is the same scammer shit that we see is going on in crypto. The banks also get away with it, that's the worst because you can even identify who sold it and yet retail investors buy at their own risk as it is called.

You're not wrong. But look what happened to those sectors of finance now. Subprime mortgages are no longer a thing, even banned in some places now.

So this is what I'm saying, if we don't watch ourselves and continue to promote shitcoins and shitsectors like defi, it's going to fall apart, and then it'll never be allowed to grow again.

Basically knowledge is an investment that must come first before money. with knowledge we will better understand the best strategy to invest, we will have anticipatory steps so as not to get caught in a loss, because the crypto market is very volatile and full of surprises.

as the popularity of crypto increases, there will be many fraudsters who take advantage of the weaknesses of many people, one of which is "greed" and "hasty". we must be able to control it so as not to be trapped by scammers. at least we have to really know the project that we will invest.

new projects and scams will always be around and keep popping up, because we can't prevent them, at least arm ourselves with the knowledge and warnings of others as best we can.

Although I get your point and it is an important point you are making that I wish more people in the industry would pay attention to, I disagree that scam projects will lead to cryptocurrencies being banned. They might be further regulated and most certainly will, but you can't ban them anyway. That's quite a bit different compared to subprime mortgage style investments sold by banks.
Anyway, what you say is valid: promoting shit coins just to make money on a single pump will ultimately lead to more harm than good for crypto as a whole.

Many of us have at least feel this way, but in life there will be always something like this . Cryptocurrency is at early stage and people like to take advantage of it be it in a good way or bad. The best thing to is for us to be educated. Learn the curves, every nook and cranny. The way how projects are being presented. Slowly minimizing the possibilities of getting rekt.Trust no one's knowledge but yourself. Things are pretty much complicated in the world of blockchain. Passion keeps us informed so , learn it by heart.

actually we have contribution to shitcoin project since we didn't care about project quality. there are alot good project that build their ecosystem and utility token, But we prefer invest in pump and dump coins. If we more care about the quality of project maybe fake dev team will have no idea to SCAME us

The big problem is that they don't force us to take it, but usually we make our own mistakes and blame something else. If we had enough knowledge about it whether we would act like that, this issue makes me think about it.
But honestly, in my opinion, every area has points that we are not satisfied with, instead of blaming, let's learn how to solve it and build it better.

Most of altcoin projects made are close to home activities and they don't focus on finishing their guide. Just undertakings that are all around contributed by enormous organizations and have items can endure. A few novices contribute with no thought this is the motivation behind why con artists took altcoin as a device to plunder cash from individuals without any exemptions.

Currently on Coinmarketcap there are 11,065 coins/token, this is indeed a large number. And it keeps growing. Altcoins exist 2 sides good and bad.
There have been many great Altcoins and overcome many disadvantages of BTC such as: ETH, Dot, Solana, Polygon,... And attracted a lot of non-crypto to the crypto market.

Besides, there are many altcoins that are scams, they take advantage of investors' trust and deceive them.

It's all up to you, Be smart in a market full of scammers

When the developers only thinks about the money that you can get, you as investors will really feel disappointment for various reasons.

Lack of communication, devs can't be contacted, no updates regarding the project. These are just few of the main reasons why a new project end up a fail project and this is what makes the investor disappointed. This is also the reason for me why I'd rather invest into old and top coins rather than investing into some new projects out there. Most of the new projects out there can't benefit the people at least and some doesn't have any use cases. Most of them are just created for the sake of profit and money. Its really disappointing to see these failed altcoins but what is more disappointing is there are some investors who are investing into these altcoins :D.

There are indeed many altcoins created already but out of the great number of them, how many is even working, which then means that, creating a token is one thing but maintaining it is another thing, which is the most important. Many of these developers create these coins and tokens just to make money and nothing more, which is why they don't last long, while those team who understands that technology is one thing that evolves, grows and innovate always make sure they keep improving on their products and services in order to be relevant, this also goes to prove the reason why most coins and tokens drops from top 10 to 100 and others grows from top 20 to 10, it's all about innovation.
Take a look at Binance for example, does it look like the team are tired of bringing interesting services and keeping in touch with innovations and trend sweeping around the crypto space, this is what makes them relevant.
So until most team understands that there is need to improve on their road map so as to be in constant line with the crypto space and its trend, lack of improvements on what users want, promotions or social media activeness to keep getting more investors etc, their projects will keep failing.

Who cares about finishing the guide. They don't even do anything to complete any item on their roadmaps. Build this ecosystem and that, while all they do is act as code cannibals and modify existing code and smart contracts on open projects on github.

And people who buy them actually don't care because they're not even users.

Maybe they never planned to finish the items on their roadmaps and just put together a white paper to convince you and ultimately steal your money. That happens so often that I am tired of it by now. We usually should demand prototypes before they get any money, but then they claim they can't get started without seed funding.

Useless altcoins will continue to appear as long as more people invest in them...

Regret is a useless thing because time can't go back. Trying to be critical in your analysis and buying new altcoins is what you need so you don't get stuck buying shitcoins.

Investing in altcoins is very challenging and exciting because you need to choose the best one out of thousands of altcoins in crypto market. Disappointment is inevitable because of a lot of altcoins without value. That's why always take precautions everytime you are going to invest in altcoins.

The sad part about that is the cause is investors and not the project owners most of the time. I have seen so many projects where project creators tried their best and did everything they could, and they ended up still failing because investors kept selling lower and lower, people who bought a token from 100 dollars each end up selling it for 10 cents each willing to eat the loss and get out, no idea why they do that.

In the end we are talking about something that is quite bad, but not something because project owners want to, but there are rug pulls as well, there are very bad owners who fail to deliver anything as well, so there are projects that go down because of the project creators but it is not always about that, investors who want to make a quick profit and get out are main investors of the newly created projects, they want to 10x in a week and get out, no idea why they think they will be capable of doing it at all.

There are already 11,115 types of cryptocurrencies on the cryptocurrency market. Their number continues to increase every day. I regard this as a positive moment, which contributes to the very rapid development of this market. Whole new directions are emerging, such as DeFi and NFT, which we did not even know about, and this adds popularity and new opportunities to the cryptocurrency.
So far, everything is going well and even problems with the emergence of many useless and fraudulent cryptocurrencies cannot negate the previously achieved results.

I think that those who have studied this market well will not be disappointed with the presence of more than 11,000 types of altcoins. Since there are people in the world with good and bad intentions, and everyone has the opportunity to create their own cryptocurrency, of course, both promising and useless and even fraudulent types of cryptocurrencies will appear. However, this is perhaps the only good opportunity for the rapid development of cryptocurrency. This fact is much more valuable than its negative side effects above.

You are right that it is really easy for programmers to launch new tokens and have success now. Newbies that come in big numbers because of crypto hype in the last 6 month are not very experienced to judge if this token is worthy or not. So they just hope to buy a new dogecoin and earn fast and a lot. The thing is that really good projects are waiting for a better time now, so now we can hardly talk about long investments in new projects.

Whatever you emback on in the pursuot of your dream, having a knowledge and thorough understanding is essential for you to be successful! I have seen people rarely take decision of where to put there fund into by themselves rather, they invest based on hearsays, promises and crowd! So in my opinion, multitude of coin is not the problem, unlearned investors in cryptocurrency is!

Investors need to understand that just as they are looking to make money from the blockchain and cryptocurrency market, that's the same way most project development teams are trying to make money. So it is not advisable to Just trust a project because it looks good, while doing your research, you should always dig deep into the teams profile and pay attention to if the team members have experience in the tech space

It's called competition. You better get used to it. In life and in extension crypto, nothing is permanent. Only thing permanent is change. Bitcoin may be a shitcoin 10 years down the line.  Who knows

a project that looks convincing and promising can end up disappointing, so if you invest in a new project you should be more careful and only invest what you can afford to lose. this is really a principle that must be adhered to.

new projects will continue to appear as crypto develops, scammers targeting newbies will also continue to appear, even the appearance is very professional. it's competition, there are projects that are really built to compete, and some are just for scams. if you don't have enough experience in assessing new projects, you should choose old projects that are already successful and exist in the market. observe and analyze further developments to be able to enter at the right time.