Why Good Altcoins Fail

[Joint Force]

It's because devs make no money from PoW mined coins! It's as simple as that.

Bitcoin succeeded because of the idea. Etheruem succeeded because it ran an ICO. I'm not sure why everyone hates on ICOs. Instead of buying a miner and mining PoW coins, go buy ICOs and/or buy PoS coins and stake them. Either way you are paying a lot of money to get into a coin. Instead of wasting money on PoW give the money to the dev and see what they can do. ICOs are the best.

[stomachgrowls]

Good Altcoins mean they are still existing nowadays because they could able to withstand past problems that occur on their career.Actually there are lots of factors which really affects a particular coin  which causes for them to fail like on security matter,funds and marketing stuffs because no matter how good a coin it is if people would not tend to use it then its still useless.There are still coins which fall but still they are forcing to stand up again.

[smyslov]

Why do you think good altcoins fail to keep going?   It seems there are some that are good and people collectively have put in tens of thousands of hours supporting, but the team decides to give up midway.

If the dev team are not honest and just want to scam people,they will just use the coin to collect funds then run away,but if they are transparent they will continue developing more projects for that coin until the price increase.

[galaxiekyl]

If yu want my opinion..a good coin should be exchanged by users..more users more liquidity otherwise dumpers will kill the coin..to avoid this..the best is that coin be supported by fiat or gold or silver and burned after the exchange (like teter, dgx, nubit)..like that no dumping..the price will regulate automatically.

but the problem that arises in this case is centralization..so cryptos aren't stable because they are submitted at the market économie..the world is in process to crashing because of that..how do yu want that a crypto which copy this modele can escape.

[Unikol]

If yu want my opinion..a good coin should be exchanged by users..more users more liquidity otherwise dumpers will kill the coin..to avoid this..the best is that coin be supported by fiat or gold or silver and burned after the exchange (like teter, dgx, nubit)..like that no dumping..the price will regulate automatically.

but the problem that arises in this case is centralization..so cryptos aren't stable because they are submitted at he market économie..the world is in process to crashing because of that..how do yu want that a crypto which copy this modele can escape.

The good coins should be useful. You can buy things with it. When you want to sell it, you should find a buyer easily.

[galaxiekyl]

If yu want my opinion..a good coin should be exchanged by users..more users more liquidity otherwise dumpers will kill the coin..to avoid this..the best is that coin be supported by fiat or gold or silver and burned after the exchange (like teter, dgx, nubit)..like that no dumping..the price will regulate automatically.

but the problem that arises in this case is centralization..so cryptos aren't stable because they are submitted at he market économie..the world is in process to crashing because of that..how do yu want that a crypto which copy this modele can escape.

The good coins should be useful. You can buy things with it. When you want to sell it, you should find a buyer easily.

yes if yu haven't need of one thing..yu will not buy it or use it..alts coin doesn't escape the rule.

[BTCat]

The altcoin community got too decentralized. There is no cohesion between projects. Instead different altcoins see eachother as competitors in a tough world full of deception and often hatred.
All the fake ICO's and IPO's have damaged reputation of the good projects because now the good belong to the list of so called "shitcoins". That wasn't the case 2 years ago.

[blockman]

Why do you think good altcoins fail to keep going?   It seems there are some that are good and people collectively have put in tens of thousands of hours supporting, but the team decides to give up midway.

If the dev team are not honest and just want to scam people,they will just use the coin to collect funds then run away,but if they are transparent they will continue developing more projects for that coin until the price increase.

There are many times that this happened those devs are just getting some investors just to make their development get a lot of investments. But in the end, when they are able to collect a lot for their ICO. It comes to an end already and they are becoming gone and their development ends there when they have their bitcoins investments already in their hands.

[ufaiz50]

Why do you think good altcoins fail to keep going?   It seems there are some that are good and people collectively have put in tens of thousands of hours supporting, but the team decides to give up midway.

maybe people are now smarter in choosing altcoin which not only gives an advantage in a short time or make altcoin only for profit and is not responsible

[salmanahmedone]

Why do you think good altcoins fail to keep going?   It seems there are some that are good and people collectively have put in tens of thousands of hours supporting, but the team decides to give up midway.

maybe people are now smarter in choosing altcoin which not only gives an advantage in a short time or make altcoin only for profit and is not responsible

There are lots of coins and exchanges that any body can keep track off.
This is toxic to the crypto currencies as a whole.

[CryptoSporidium]

The Devs need to get paid in USD or BTC.
Devs usually get paid in the shitcoin they are producing so not only do they have to dump it to get real money to live on, they have to sing its praises regardless whether they believe in it or not.

let me just stop you there.
this is the problem with altcoins in my opinion, the devs are looking for making money or worse to live off of the money they earn from developing their coin!

so when your goal becomes earning money first then developing you end up earning a lot if you are paid with your own altcoin and hype pump it to dump and make money.

Satoshi was never thinking about making money from bitcoin and those coins he mined are still un-touched and look at where bitcoin is today.

100% agree.

i think its lost on most people on this forum what the whole point of developing an alternative to fiat p2p currency is in the first place.

like i've said 1 million times before; "whats the point in creating an alternative to the greedy banks fiat if we ourselves become the greedy bankers."

making a profitable system for the devs, well then why would we even bother converting from fiat  

you know the world doesn't really need more paypals  

Sorry, but your missing the point, starting a 'greedy bank' is beyond the capabilities of everyone, but being an alt dev is open to many. Greedy alt coin devs can come and go forever, and the barriers to entry are miniscule. Please don't say that silly phrase 1000001 times, just accept that greedy bankers have a strangle hold on the world and we use them even though we know they are greedy bastards, because our paychecks and legal tender laws require it. Greedy alt devs face competition and can die all the time, so it's entirely differen to banks which are protected. Get another catch phrase that actually has intellectual content.

yes and you don't enhance your intellectual argument by trying to insult people with a different point of view

you're like saying a murderers done nothing wrong and comparing them to a genocidal dictator as your reasoning.

Oh brother, what sort of idiotic analogy is that? I'm sick of guys like you with terrible track records at forecasting anything in this space giving preachy BS one liners that don't make sense. Bringing up murderers and dictators ... what relevance do they have ?

Let me spell it out for you, you need to compare ecosystems, not individuals. Even in a healthy ecosystem there will be bad actors, but compared to a toxic rigged ecosystem it's infinetly better. So your statement 'whats the point of creating an alternative to greedy banks if alt coin devs are greedy' totally misses the essence of the ecosystem that exists, and how superior it is to modern fiat banking. You should study some evolutionary biology, do you really think the success or otherwise of crypto rests on morality? The whole point is to setup an ecosystem where things like trust and greed don't make a difference, the ecosystem is healthy and continually evolves without the need for your moral sermons. Greedy bankers exist because their ecosystem is rigged, greedy alt coin devs face a struggle for survival, and competition from honest devs with good intentions makes their survival hard. Cockroaches, rats, feral cats, cane toads, rabbits, etc all exist in nature, their existence isn't a problem, it's what happens when they exist in an ecosystem that's been compromised and degraded.

[nocryinginbtc]

altcoins fail becasue nobody knows how to promote them outside the community. Lack of money. Thats why. Nothing to do with features.

[Snorek]

Why do you think good altcoins fail to keep going?   It seems there are some that are good and people collectively have put in tens of thousands of hours supporting, but the team decides to give up midway.

What altcoins do you have on mind exactly? What project was so good and got cancelled prematurely? Do you honestly think that if coin is good it will be shut down just like that?
There is always a reason behind it - either developer is untrustworthy (PayCoin) goals of the coin was set a bit to high (SpaceBit) or code of the coin is terrible (The DAO).

[Bitcoin0916]

altcoins fail becasue nobody knows how to promote them outside the community. Lack of money. Thats why. Nothing to do with features.

Marketing and promotion is the most important thing. I think this is because developers can't wait to immediately benefit. When thrown into the market, then there is a system or a rudimentary gap so as to make these coins are not attractive to investors. Another important factor is the manipulation of market prices in unnatural, so people just take advantage of instantaneous do not want to hold for long term.

[carlfebz2]

altcoins fail becasue nobody knows how to promote them outside the community. Lack of money. Thats why. Nothing to do with features.

Marketing and promotion is the most important thing. I think this is because developers can't wait to immediately benefit. When thrown into the market, then there is a system or a rudimentary gap so as to make these coins are not attractive to investors. Another important factor is the manipulation of market prices in unnatural, so people just take advantage of instantaneous do not want to hold for long term.

Agree,if a particular coin wont emphasize or give importance regarding to its marketing and promotion then it will destined to fail on midway,as you said most developers cant really wait and they rush up to make benefits that's why.Investors and big whales could not able to see a particular coin if the awareness or appearance on public is quiet small compared to others.

[virasog]

A good shitcoin is as rare as a conversation on this forum. Threads are usually just a list of folks opinions rather than valid argument. Anyhow, here is my opinion on what makes a good Altcoin.

The Devs need to get paid in USD or BTC.
Devs usually get paid in the shitcoin they are producing so not only do they have to dump it to get real money to live on, they have to sing its praises regardless whether they believe in it or not.
We have all had jobs involved in products or services that we have no real faith in but, we have to keep quiet about it all because we need to make a living. I once had a job making icecream and I don't even like icecream. I just thank God that they didn't pay me in the retched stuff. I would have had to go selling it after work to get real money. So if the Devs got paid in USD or BTC, they wouldn't have to promote it as falsely as they do.

Also, you need people to "big up" your coin.  It's better if you own a media outlet or a forum to do this.  Vitalik owned Bitcoin Magazine so it was easy to make positive reviews on his Ethereum. You have to spend far more time, money and resources on PR and advertising than you do on developing. You need to create loads of hype before you even release the coin.

Then you need a private slack channel so you can conspire with the exchange owners to put up false buy/sell walls in the market depth when needed.   

Finally, you need a bunch of people that think they will be rich if they hold on to it for long enough (sadly that's the easiest bit).

This is what you need for a good altcoin but remember, Devs only make money at the start unless you stick a 40% tax on the mining for the first 4 years.

I believe that the devs, forum owners, exchanges and media people are all in it together and as soon as the income starts to fail, they put out another shitcoin. This is why we have so many!


Edit: Oh I nearly forgot, a good gimmick helps.  What about something like PizzagateCoin? All good darknet pedo sites will be accepting it as payment.

I agree with every word you just wrote. It's those people who create shitcoins without any purpose and then they dump it on innocent newbies and then they develop another coin and this keeps going.

About promising altcoins falling in value is due to developers ditching them for bitcoin or promoters cashing out. Sometime it may be the whales cashing out before getting into other coins. Can't say for sure.

[ChinkyEyes]

altcoins fail becasue nobody knows how to promote them outside the community. Lack of money. Thats why. Nothing to do with features.

This is what I think. But I think the main problem people outside the community are not interested is because it´s not simple enough to use. Someone should make their altcoin as simple to use as apple products.

[Zefasen]

It's because devs make no money from PoW mined coins! It's as simple as that.

Bitcoin succeeded because of the idea. Etheruem succeeded because it ran an ICO. I'm not sure why everyone hates on ICOs. Instead of buying a miner and mining PoW coins, go buy ICOs and/or buy PoS coins and stake them. Either way you are paying a lot of money to get into a coin. Instead of wasting money on PoW give the money to the dev and see what they can do. ICOs are the best.

Does it mean the ZCash Classic will fail? It seems it does not have a good plan to support the further development.

[galaxiekyl]

also alts doesn't must be confused, because it exist many project wich not have vocation to serve exchange money..like asset or reserve of value..i think alts which have a futur are those which bring a interest common at the crypto sphere..others are just P&D

[Cryptotraider16]

Why do you think good altcoins fail to keep going?   It seems there are some that are good and people collectively have put in tens of thousands of hours supporting, but the team decides to give up midway.

Becouse no big community!