Bitcoin Forum

The number of new altcoins and stablecoins being offered to the general public continues to increase. This is in spite of the fact that the Initial Coin Offerings (ICOs) that started the altcoin craze have met mostly failure.

The beginning of 2020 saw a host of new coins enter the market, often with specialized intent. Many of the new altcoins are designed for specific usage within platforms or games. Nevertheless, the diffusion of attention into these coins represents much of what is wrong with the industry.

To read the full article, click here (https://beincrypto.com/altcoin-numbers-continue-exploding-spite-ico-history/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc)

It looks like the numbers keep increasing, as they don't seem to care if they fail or succeed.

I just don't know why people don't get tired of losing their money to these new projects without even doing deep research. As you can see, only a tiny handful of projects do actually succeed, but most of them failed because of their dependency to the crypto market situation.

Like there's one project 2 years ago, where they still "developing" and giving us "quarterly updates" which isn't that exciting for investors as that project is still not on exchanges. There's another "exchange" ICO a couple of years ago, where until now, tokens cannot be traded in their own platform.

It's the reality nowadays for ICOs, IEOs, STOs, you name it. Calculated risks.

They keep on creating new alt-coin to gain some money then they would leave their project once the offering is done.
It is so hard to trust this new alt-coins since this is what most of them are doing.
Only few of them are really into their project most of them just wants the profit.

i think its about time people start thinking before putting money in any project because like you said we have too many project in the market now without anything better to offer except empty promises,
most project owners are just after the money and noting else, no commitment,  no use case from this project, only empty update (sorry to say)  and as a result of this lack of utility, most of this tokens don't have genuine value, unfortunately the market is filled with this type of project.

Yes there are lot of shitcoins has been launched under ICO on years of 2017 and 2018 and still continues under IEO, STO, but investors learn the lessons for past how scam ICO has loots funds from investors . now investors are be come smart avoiding such kind of ICO,IEO,STO maybe it can helpful to reduce those things if we avoiding scam ico,ieo,sto. and there are still genuine projects are coming this year like Facebook Libra.

For new projects I will only stick with projects from binance or other few top exchanges, these projects can easily be trusted than many huge projects storming crypto space, most of them are money grabbers

The "producers" of this altcoin projects do not even need to do too much to deceive their naive investors. With or without research majority of this projects will still be a scam or fail, I stopped researching and investing in altcoin projects last year, too many of them I actually had thought was bringing something different "proved me wrong".

I've said this before, the number of altcoin projects isn't doing the industry(altcoins)good, many projects, so many failed, only the naive enthusiasts will still keep losing their money(investing).

I agreed with the article but i don't even think if the new coins were coming to the market were dominated by coins are coming from the ICOs, IEOs, STOs or something else. The fact that so many new developers created their own coin. Basically, these coins created used the source code that available on the market. As long as this source code will always exist and just expect more come will come to the market.
Im getting surprised to see that the amount of tokens and coins on CMC is growing so fast.

sometimes when i track it seems like a lot of projects that hold ICOs have the same boss, their goal is to only get money from everyone when the bullish market really comes, look at it even i looked at their previous telegram group they look dead since 2 years ago arrived arrived near 2020 they reappeared in the telegram group and said they would release the project again and develop the project again

everyone will find out like this where people who left their project suddenly came back after the bullish market started this year, but of course not all projects still have funds, if there is still certainly they can come back to life at this time, if not the project they are obviously dead, even their income from ICO, IEO and others has been used up by them and fleeing investors' money until now has not returned, they are again seeking trust in everyone after a long time gone but people will not easily trust the project and maybe will leave it, hopefully in the future there is a project that is really good in this blockchain technology and not a scam

Yes, more people keep putting their money into some funny projects. It is largely due to the believe that the project will succeed in the future. Since more people are willing to take chances, more projects keep popping up,  hoping to attract those people. In the end, it could turn out to be a bad idea.  This situation tends to dent the image of the few Potential projects.
Most people are always looking for a quick way to invest and reap the benefits immediately. They fail to understand that no project would assure them of that.  With such people, more unecessary projects will keep popping up.

I really don't get it.
There is a capital for doing this. They will need to have money before starting it.
If it fails, do they get it back? Just get even with all those expenses?

ICO's had been in a difficult state now, even soft cap cannot be reached.
Also, investors are still getting in despite everything that is happening.
There is just too much competition and also a lot of choices with the same range of features. It's exhausting just to dig about each one.

the ease of creating new coins makes many developers who never stop with his creation. the problem is they are not able to think about sustainability, this is where their steps are hampered and unable to develop further investments in a better exchange, I see they only think of creating and delaying projects collectively with the aim of hoping for profit, but in quality they are not able to prepare for something more fundamental.

The increase for altcoins is unstoppable but soon they will start to run out of ideas if they get tired of it. Because they will eventually notice that the people are no longer interested with these projects that costs them money and no return by investing on it.

While it's reported that there are devs that are solely making money out of tokens creation, once most of investors notice that it is a sure thing that many of them will stop. As for the stable coins, it's now the governments that's interested making it.

Some of those new Altcoins are made to change some ongoing technologies in our modern world, in other words, they want to create some innovations in modern technology. With the help of the newest blockchain technology and some enthusiastic sponsors for the project, that would be possible. The problem is when there are some good things in this industry, some bad people are taking advantage of it by creating their own Altcoins with the intention to scam people. that's why when you see those new Altcoins that suddenly disappear only after a month of its release, take note that kind of Altcoins are created not to help for advancing the current technology rather it is only created to steal people's money in an innovative way of scamming.

I think it should , we can not blame every ico for scam ones, there are good project who needs funding but are not able achieve their target because of insecurity among investors . I think we need a body to govern projects so that scam projects can be minimised and investor can choose best project for them.

I surmised that all ICO's that are coming out today are just a copy of previous projects. But still newbie investors are still going to fall for the trap here.


"If it broke, don't fix it", I think this is the philosophy of most scam ICO's right now. Rinse and repeat because they can still get investors to put money on their shit project and make tons of money out of it.

Now a very small number of people continue to invest in new projects. people already realized that now is not the best time to buy new coins, but those people who continue to buy at the sales stage are just people who have a lot of money and then they just don’t want to follow what is happening with the price, but just buy for a long time, or it's just fools who don't understand anything at all. this is reality

They should acquire from their experiences because they will surely end up being in that situation if they keep on investing on some projects without even thinking the possible outcomes. They should realize that most of the project these days are made to take advantage of people and deceive them by words and promises which is clearly quite difficult to fulfill. We should not let ourselves fall into their tricks and techniques, we should think carefully because a mistake can change everything and it can have a huge negative impact on you as an investor. Despite of those projects who ruin the reputation of ICO's, we should also know that some of them are still worth it and profitable. It depends on the person itself on how he/she is going to determine which project is the best. Maybe it has bad reputation but still it can't be the reason why to judge and underestimate the capabilities of other projects. We have to understand that our future depends on how we make our choices and decisions so be cautious and consider your experiences because it will guide you on finding the project that can beneficial to you.

Yeah, there are lot of altcoins right now in the market which is pretty bad for some users specially newbies as there are some you know "shttttttt alts"

I still don't understand why they are trying to create new projects in the current period. Surely there won't be any investors interested in ICOs and new projects, because they know it's a scam and they don't want to waste money on it. Investors have become smarter after 2018-2019, so new projects will never scam them again.

it doesn't have to be some kind of authority. it may be some kind of decentralized platform that will guarantee payments to the project by investors and evenly distribute tokens for investors. the project will also not receive all the funds immediately, but only when it will be necessary to continue the work.

the positive side is: Bitcoin, Ethereum, and several other altcoins that are supported to buy ICO coins, this has made the above coin prices become bubbles in recent years, and all of us in the cryptocurrency zone have benefited from them. the negative side is: many investors, especially new investors have suffered a lot of losses due to the many tokens / atcoin SCAM projects, and indirectly made the cryptocurrency name a little bad in the eyes of the public.

It is very unfortunate to think that almost all altcoins are created solely to fail. Many projects failed because they do have real use case or even if they though, there is no real support because many investors are only after the profit. While scam projects are also a problem because those scammers are getting smarter to masquerade blockchain technology.

The way to stop this or at least to reduce it is by research before it is finally launched to the public. Apart from research, supervision must also be needed to prevent a scam, and maybe the person or team that will make the new ICO will think twice, instead of just investing.

We sometimes think that projects that have good features and are different from others have great potential to be able to improve or be able to grow later but if we see that many projects end up in failure and also some projects that run away from investors who then make money many people are reluctant to participate or invest in the project and for now it is better to invest in the top coins in my opinion.

This whole bunch of new identical projects is a side effect of capitalism, where everyone seeks to surpass each other. I believe that it would be more correct to combine projects and work together but unfortunately the mentality of people and working conditions do not allow this.

Even the investors are aware of it nowadays and they don't invest in the projects that's why most of the ICO's don't even reacht he 10% of their softcap, right now there is no investment in the market it's just bunch of scammers coming up with copied projects in order to run away with investment if they could find any noob but it's not working anymore. Eventually, we would see an end to this.

I agree that the number of altcoin keep growing each day and this seem normal. The profit from create new altcoin is too high and it make this become a game for whale. They try to build a project with beautiful whitepaper, some high level develop, do high value bounty and use money to push the price. Finally they get huge profit back and this high profit make lots of investors want it. But i bet this will become to the end soon.

We need a maximum of 2-3 different coins for different domains. There may be 10-12 different domains in cryptocurrency and therefore the ideal number of cryptocurrencies should be a few dozen. On the other hand, we have thousands of different coins. And this is one of the reasons why the altcoins are going down lately. There is a lot of fragmentation in the market.

I think a lot of the Ico's now are created bye scammers now a days with the idea to just take more money/Bitcoin for them self.
To them it is probably a succes even if they take a small amount of money.

But it is bad for new people that heard about succes story's about Ico's and now they try to invest in the first good looking Ico without doing much research.
They fall for the text full of false promises and advisors.

Back in the day you didn't have many Ico's and you could already see bye the amount of reactions on this forum how big of a community the ico created.
For example Lisk and Waves where to Ico's back in the days I tought looked really good and they where very successful to me.

Now it is very hard to recognize the scammers any good project can be a scammer and you really need to watch out.
For example Savedroid  that scared investors proving this exact same point, where they faked scamming everyone and showing you should really watch out.
But their token is worthless now where my 50$ investment is worth nothing now, I feel sorry for the people who invested thousands..

in fact it is true, that a lot of projects end with fraud and it might be said that there are currently no projects that are truly successful and profitable for investment. 2018-2019 was a bad year for the ICO project.

As long as we are still having novice in the cryptosphere, shit coins will continue to exist and survive somehow. So many new faces are coming into cryptosphere on a daily basis and they will continue to invest in scam project because they are novice. As long as we have novice we will continue to have new coin being introduced into the market.

Well, it is a very very simple reason why people do this ; money. Think about it, the costs of starting a new ICO or even creating something with just airdrops and not even get funding, means that you will be in control of a coin that is used and exchanged in many platforms. No matter how little you can spend, in the end you will just sell bunch of coins and you will make that money back and profit from it.

So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.

When you spend nothing upon creating those tokens, its then addictive to create more tokens to do ICO. I bet those developers keep creating tokens for different side projects they have. If it fails, they can create another later. 

I have not see many of the ICO these days having success in collecting their dev funds. They numbers are exploding probably but are not successful.

Lack of certain rules causes the market not to be taken seriously. Those who wants to start a new business creates his own token. Nobody thinks about the product, the vision, the future. And as time goes on, it will become deeper and a hole will be drilled somewhere. This hole will grow and I'm afraid the future case of market will be bad.

Same thing I thought too many times! Why people keep investing in scam projects, why they don't care, don't research! Even you see after too many negative reviews against P2PB2B, Coinsbit, and other shit exchanges but still, they keep investing there, and because of their fool decision, IEO markets are dying too!

ICOs did not start the altcoin craze. Before first ICO happened, I believe it was was NXT, there were already 1000 altcoins. Most were forks of Bitcoin protocol. And NXT ICO happened in 2013. So at least 3 years before ICO craze. Yes with asset platforms like counterparty, etehreum, omni, ...   starting a token was only few clicks from everyone. So people made a lots of tokens.  

Bitcoin price is on the rise. At the same time, Bitcoin dominance is falling. In this case, altcoin prices will increase. Altcoins still offer a great opportunity to make big bucks. Too many investors have damaged.

Pretty obvious really, not sure why Beincrypto needed to make an article about it.

Once a cryptocurrency has created, it's practically immortal. I don't believe that most coin listing websites remove inactive cryptocurrencies, therefore the number of coins that will be listed will only grow over time.

Or did you expect people to stop creating cryptocurrencies and blockchain-based assets just because ICOs and IEOs failed as an investment model? Let's be realistic.

With that said, most of the those new tokens are likely absolute trash that have no purpose. We shouldn't be paying them any attention at all.

We have thousands of different coins but more than 90% were dead coins that are still listed on coinmarketcap. The reason was so many dead coins in the past have already made by scammer and that makes a lot of people are feeling frustate to put more money to the altcoin as it has a huge percentage if the scam coin will always there.
The demand can be divided too caused by the new coins keep increase but when the ecosystem goes on the right way and people will think to put fresh money too.

Right. Most of tokens were created out of thin air and with their "proposing" idea which nothing but an empty promise. They are just bombarding the whole market with ICO hoping that one of them could gather funds from people. At this point the market is unhealthy and with the fact that most of these ICO usually failed. I guess people should just backing themselves away from it.

That is the fact, moreover making tokens is not difficult. That is why many fraudsters can do this easily, making teams that appear to be authentic or deliberately making them anonymous, making various scenarios of fraud with projects that seem real. However, the fact that it is only a fraud scenario, some even really just want to raise funds without any real development. That is why we must be truly selective.

Maybe those project do want to give it a shot inspite of what did happened way back then. Never ending it is. But mostly experienced investors are the one who usually avoid this on the other hand, new comers who lack the knowledge and the experience as well maybe who still fall into this unfortunate traps again.

I'm thinking there should be a barrier or agency that will screen those projects that has launch ICO or IEO. It's been a while to see another eth or neo projects which come from ICO. I know there are too many projects already but there still some new ones that has potential in growing. My suggestion is for those scam projects that wanted to cheat on some sales.

The problem is so many trusted medie right now are getting pair to promote. Some scam projects can also be promoted on the mainstream crypto news site like cointelegraph or even etherscan.
To be a selective person is a good thing but there is a lot of problems that we will face it just like so many scammers are doing camouflage and this is the real prolem that faced by the newcomers.
So many experts are not even cooperative to determine which is scam project just like mcafee who are always fooling the new comers.

Everyone wants to get rich and they are searching for the next Bitcoin which can make them millionaires overnight. Investment sites are full with articles mentioning the crazy returns that the early adapters got out of cryptocurrencies such as Bitcoin, Ethereum, Tron, Cardano and Iota. But the fact that everyone ignores is that for every such successful coin, we had a hundred unsuccessful ones. We may hear a lot about Tron and Cardano. But how many have heard about Pesetacoin or Skyfchain?

Most of all making new Altcoins is like that, they just prioritize the money they make rather than thinking about the ICO project they have run at the time, because I'm sure they don't just make Altcoin for 1 or 2 projects, surely they will make more in a few a project to deceive everyone who wants to invest in their project, so for all those who want to invest in a new project, it's better to find out the identities of all their teams so that everything is clear and not included in their perceptions to commit fraud again.

It will be hard if there's an agency because we don't know who has the legal authority to regulate new projects. If there's an update with the ETH platform then they should be the one to regulate those new projects that are coming in the market, there should be a team regulating those projects that is under the platform of ETH. ICO's and IEO's are coming in, they really don't care about the market status because they just want to scam people. If the new project really deserve the spot in the market, then they will survive and continue to grow over time.

It is true that what is often trapped are new investors and new investors are a good target for scammers because of their lack of knowledge and experience in the cryptocurrency world that makes them easy to get into the trap of scammers and actually not new investors due to some old investors also still often trapped in it because the scammer always has his own way to be able to lure others to be interested in participating in the project.

actually, it already exists. Exchange makes their own IEO for sorting new project
if the project wanna hold fundrasing they need to fill requirement from exchange first, then they can do fundrasing

but the "agency" is from the organizer, it would be possible to not objective
if what you want is from government or anything, at this time it doesn't exist

Because they don't study the history of ICO's and all they think is that they'll still get a chunk of profit upon investing. But it's not like that anymore because it's on totally new situation now and it's about to die.

Yes, with that idea. They will recycle all of those ideas and the habit that they have with the previous projects that they've done. If the first project they've made became successful, later on they will abandon it to create a new one.

İf all the exchanges had been honorable, would we have encountered so many scam ieos? We need somebody neutral about this. Perhaps this may be a government-based or any voluntary institution. Someone who will not sell the meaning of truth for money.

We have more scammers in crypto space today so its sure that many of them will want to get their hands on any money they can grab from innocent people, I'd say just ignore most of them, only very few with rare use cases are worth checking out

It's too easy to make a currency so junk coins are everywhere. The development team takes just a few taps to get a coin and then sells them and leaves.
In 2017 with the ICO boom, a lot of fraudulent projects made millions of dollars but now the ICO has lost the trust of investors so the new ICOs are mostly failed.

With the halving coming up the scammers does not care about coming up with new projects just to make the maximum benefit and ride the bull run and they are not even concerned about the projects they are just looking to accumulate the coins before the rally. Investors who are thinking about big profit must think about the risk and make their own decision rather than falling victim.

I also choose the same as you, just trying to find new projects from Binance. I consider this to be the safest option for me when I want to invest in new projects, and the profits that IEO at binance brings are also numerous. Since the beginning of 2019, I have successfully joined 3 of their IEOs and it helped to offset the losses in 2018. Btw Binance just announced they have a new IEO project that is WRX, you can search and read about it

The large number of scam projects ultimately makes investors hesitant and unwilling to take risks in investing in new projects and most of them choose not to invest in new projects but prefer to invest into the top coins. This is a natural thing to happen when many projects end in failure so investors don't want to take a big risk with what they will invest.

I agree and have noticed the same thing which is for me I find no relevance because mostly the newly created and launch projects that offers new coins for the part of Altcoins just share the same features and it seems that it is just a quick idea due to the reason that those ideas have already created before and it just keep on getting over and over again. New Altcoins just make the market crowded due to the fact that there are already lots of existing cryptocurrencies within the market in which most of them are not valuable and I find it unworthy for their existence. I am not saying that all Altcoins are unworthy but most of them do and only few of them have the potential and the capacity to grow and be beneficial for the investors.

It is not because they do not study about the market, they just do not have the idea to make things successful nor wanted to complete the project, all they want to do is to come up with the idea and start collecting money and they know that they will get some investment and that is what they are looking for, stay away from any projects that are coming up in the next one year as all are eyeing for the market rally to cash out.

They recycle the same idea again with a new marketing strategy and that is happening in the market for a long time.

The risks just seemed like going higher.
I can see that one year that investor would be just have enough on losing their money especially the day that they'll go broke. Risk is just almost the same us building up your business outside crypto. Do those devs make an adequate research anyway, like sort of feasibility study inside the internet so that they'll know that whatever they have in mind is gonna be booming and surely gonna pay off to their creation.

on the one hand because of their dependence on the crypto market situation, on the other hand because investor confidence has collapsed after seeing 2 seasons of many ICO fraud projects & projects delayed. maybe if the market has improved and the ICO Project shines again then investors will take part in it again. I believe 2020 is a good year for the cryptoqurrency market again.

I'm talking about the investors and not the developers. But you're right with the developers perspective but success doesn't come overnight and if there is some formula that they have to know then it is to understand that ICO is no longer a good hype maker this day.


No, the marketing strategy is always the same and there's nothing new with those.

everyone has different ways and strategies to benefit from the cryptocurrency project. some people still believe in ICO, IEO and STO because they think there is still a possibility for new altcoin to succeed. but I personally am not interested in investing in ICO, IEO and STO projects. because I have suffered a number of times even though I have done previous research. at the moment I only believe in bitcoin and some of the top altcoins.

There are so many reasons why the token and altcoin project was created. The most common reason we know is to get money quickly through the sale of tokens to the public. We must understand the background of the project holder, because that can be used as a benchmark for whether the project will be sustainable. To be honest, I was fed up with the fake tokens that were circulating a lot, because at least it wasted my time searching for information that was actually not important. But I have to do it because I don't want to get caught up in the crap token project. I will only stick with altcoin and tokens which have shown continuous development.

Among these altcoins that floods the entire market I can see that many of thems are stablecoins which means they are using their own money and seek profit out of fee generated from each transaction maybe. It's doesn't always have something to do with investors though. Some of these altcoins might be just some attempt done by people to make a clone of existing ERC20 tokens or such and making fake smart contract to trap people as I've seen on many of decentralized exchanges.

I agree, people now just want to invest in top projects in the cryptocurrency market. New projects in particular and projects on the ERC20 platform are difficult to attract investors.
There is a need for stricter regulations on cryptocurrencies and newly created ICOs, at least a common standard for ICOs is needed.