strunberg (OP)
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May 09, 2013, 12:46:22 AM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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BrewCrewFan
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May 09, 2013, 12:48:24 AM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
Ahhahahhhaahhaaa!!!! Then dont mine them.... . .. ....
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markm
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May 09, 2013, 12:49:25 AM |
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You call this "many" ?
Ha! 'Tis but a trickle!
-MarkM-
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Praxis
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May 09, 2013, 12:53:42 AM |
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Best answer ever.
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MoonShadow
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May 09, 2013, 12:54:09 AM |
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Why so many alt-coins?
Evolution, of course. Those are the dead-end muations.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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maunderingcabal
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Don't dwell in the past, don't dream of the future
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May 09, 2013, 12:58:25 AM |
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I think the more altcoins the better. Bitcoin is only minable by the rich and insiders now a days.
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sterob
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★YoBit.Net★ 350+ Coins Exchange & Dice
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May 09, 2013, 12:59:56 AM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
Just stop making hate thread to stop alt coin so the bitcoin you hoarded can go back to $266.
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ecliptic
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May 09, 2013, 01:00:38 AM |
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Look at litecoin diff. It's gone from what, 300 to 600 within a month?
It is going to go from 470 to 614 by the weekend.
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9205518
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May 09, 2013, 01:01:11 AM |
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what is alt coin?
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YipYip
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May 09, 2013, 01:03:48 AM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
Umm.. Yup SUCK IT
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OBJECT NOT FOUND
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erk
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May 09, 2013, 01:10:47 AM |
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There are so many alt coins because people really want BTC, and the only way to convince people to part with their BTC is to show them something new and shiny. The shine wears off quickly, so you have to make another coin.
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chris200x9
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May 09, 2013, 01:30:11 AM |
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BrewCrewFan
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May 09, 2013, 01:34:41 AM |
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There are so many alt coins because people really want BTC, and the only way to convince people to part with their BTC is to show them something new and shiny. The shine wears off quickly, so you have to make another coin.
There are so many alt coins because it is next to impossible for normal people who dont have a 3000 dollar rig to mine anything worth a shit. FIFY
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destruct
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Alexander KOSTIN | GoldMint
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May 09, 2013, 01:47:31 AM |
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why are there so many -fucking- threads about this shit every day.. there is a dedicated bitcoin forum.. stay there if you hate this.
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Littleshop
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May 09, 2013, 01:55:32 AM |
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I think the more altcoins the better. Bitcoin is only minable by the rich and insiders now a days.
If owning a single 5770 makes a person rich then rich it is. You can mine with less, but a 5770 will do the trick.
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Tittiez
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May 09, 2013, 01:57:43 AM |
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Because we make money off them. Because they are fun to fuck around with. Because it is a learning experience for the devs. Because there is no stopping anybody from making one. Because, why not?
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sublime5447
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May 09, 2013, 02:02:53 AM |
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I agree it is stupid shit every time you turn around a new alternative coin. I personally support competition and have been selling ltc almost exclusively, but come on every day a new bullshit coin... wtf?
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hdclover
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May 09, 2013, 02:14:22 AM |
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Why so many cigarette brands ?
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Blah blah
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Mastergerund
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May 09, 2013, 02:23:09 AM |
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Please, keep making all your alt coins. No, really. People chasing spamcoins with their hash power makes less hash power on the real coins. Means less competition for me...
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snailbrain
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May 09, 2013, 02:24:18 AM |
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it's ok that there are alt coins.. but it's not good that random alt coins which have only just been released, that have been made by someone who isn't or can't support it are put onto the main exchanges... if it's something completely new (revolutionary), then fairplay.. i think a coin should not be put on an exchange for at least a month or 2.. just an intuitive guess/idea ;d
of course, if it's not worth anything then most people won't mine it... but the ones that do, and stick with it, and know that it is actually better than the other alts will be rewarded eventually.. and those that didn't think about the future, and only the present will be pissed off
something like that.. i shouldn't write while drunk ;d
edit: i suppose the failures could eventually fade away.. maybe they won't, maybe exchanges will stop putting random coins on their exchanges because they get so full, leaving the real good coins without an exchange..
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sterob
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★YoBit.Net★ 350+ Coins Exchange & Dice
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May 09, 2013, 02:34:59 AM |
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I agree it is stupid shit every time you turn around a new alternative coin. I personally support competition and have been selling ltc almost exclusively, but come on every day a new bullshit coin... wtf?
no wonder the option to ignore you is highlighted.
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sublime5447
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May 09, 2013, 02:39:56 AM |
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No the reason that the ignore button is highlighted is because I tell faggots like you to suck my cock. Feel free to ignore me too.. oh and by the way go fuck yourself
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downying
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May 09, 2013, 02:42:17 AM |
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because bitcoin is opensource. If it's not as ripple, there will be no cheap alt-coins.
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bfan
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May 09, 2013, 03:12:12 AM |
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to get btc for the dev team
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BTC:1AhzyASvKgAHBuEvJ16YuXkucPrSonBLUP
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Evolekam
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May 09, 2013, 03:29:49 AM |
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Because people believe they will get rich off the new next thing.
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casascius
Mike Caldwell
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The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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May 09, 2013, 03:31:11 AM |
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Q. Why so many alt coins?
A. So future Bitcoin-qt developers can cut their teeth and learn the codebase.
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Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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bitsalame
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Preaching the gospel of Satoshi
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May 09, 2013, 03:55:56 AM |
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If bitcoin is a meta-currency of fiat money, altcoins are a meta-meta-currency. Consider them the cheap knock-offs of bitcoins, everyone is a satoshi wannabie. That's human nature, it happens with gangnam style, Harlem shake and serial murders, whatever crap that becomes popular, you'll have copycats popping up everywhere.
The only altcoin project modestly original is the Ripple, the rest is shit. Some of the others are just minor tweaks of the bitcoin protocol.
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cdog
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May 09, 2013, 04:12:15 AM |
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Im happy because its keeps the LTC difficulty from being EVEN HIGHER and teaches people the hard way at the same time. Win-win
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Nolo
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May 09, 2013, 04:20:31 AM |
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This thread was so desperately needed. It just wouldn't have made sense to ask this question in one of the other five dozen threads started with the same question every day.
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Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law. 19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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fcmatt
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May 09, 2013, 04:22:37 AM |
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I go away for a week and things were pretty alt crazy before i left. I come back and it is bat shit insane now. Well done all.
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BitHits
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May 09, 2013, 04:32:02 AM |
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Because BitCoin can and should evolve. The only other Alt Coins I've checked out/showed interest in so far is LiteCoin/LTC and ByteCoin/BTE Free BitCoins www.BitHits.infoFree ByteCoins www.ByteHits.infoWhat I'd really like to see in a coin is a much better TX Fee system or no TX fee system!
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Free BTC http://beta.BitHits.info BTC 1DNNERMT5MMusfYnCBfcKCBjBKZWBC5Lg2 DGC DH2Pm4VXxsTeqUYZkEySU1c8p5TLvuLe8u LTC LP2QiL1pnsaKVX5Qa811pFJuFL8FxkxWRz
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furuknap
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May 09, 2013, 04:34:38 AM |
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Q. Why so many alt coins?
A. So future Bitcoin-qt developers can cut their teeth and learn the codebase.
+1
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solex
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100 satoshis -> ISO code
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May 09, 2013, 04:42:35 AM |
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Why so many alt-coins?
Evolution, of course. Those are the dead-end muations.
Just like during the Cambrian Explosion when a huge number of crazy body-plans competed against each other, resulting in only a few long-term surviving types...
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Vladimir
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May 09, 2013, 04:44:47 AM |
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Why so many alt-coins?
Evolution, of course. Those are the dead-end muations.
Just like during the Cambrian Explosion when a huge number of crazy body-plans competed against each other, resulting in only a few long-term surviving types... We should be thankful that troglodytes had no network effect.
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Operatr
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May 09, 2013, 05:10:56 AM |
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What strikes me odd about all of these new alts is not so much the coins themselves, but the complete lack of support structure around them aside the usual couple of exchanges and pools, and complete lack of push for actual adoption for something other than something new to mine.
If a coin is actually going to "make it" it will need more than a slightly modified version of Bitcoin or Litecoin. Most of these will likely go away, I don't see any clear innovation in any of these really.
Litecoin and Bitcoin are primes as they actually differ from one another in a core way (SHA vs Scrypt). I think any real contender will need to be this kind of fundamentally different that improves upon or solves a particular problem, with their creators doing more than just dropping it off on here.
Multiple coins are not a bad thing, multiple carbon clones is. Plus most of them will never make it out of the gate with such unmarketable names.
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furuknap
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May 09, 2013, 05:19:07 AM |
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What strikes me odd about all of these new alts is not so much the coins themselves, but the complete lack of support structure around them aside the usual couple of exchanges and pools, and complete lack of push for actual adoption for something other than something new to mine.
If a coin is actually going to "make it" it will need more than a slightly modified version of Bitcoin or Litecoin. Most of these will likely go away, I don't see any clear innovation in any of these really.
You forget that these coins may not survive and by that serve their roles in evolution. Thus, they are perfectly fulfilling their destinies by simply showing what does not work. Science is disproving; not proving. Litecoin and Bitcoin are primes as they actually differ from one another in a core way (SHA vs Scrypt). I think any real contender will need to be this kind of fundamentally different that improves upon or solves a particular problem, with their creators doing more than just dropping it off on here.
Multiple coins are not a bad thing, multiple carbon clones is. Plus most of them will never make it out of the gate with such unmarketable names.
The coins are not carbon copies. Evolution and mutation isn't always about huge changes; even the slightest change can be the trigger that causes a new mutation to survive. For every coin built, we learn something new, even if it's just that the name actuially matters for the adoption of a new coin. .b
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MoonShadow
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May 09, 2013, 06:22:51 AM |
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If a coin is actually going to "make it" it will need more than a slightly modified version of Bitcoin or Litecoin.
Bitcoin has the first mover advantage, and by a long margin. The only way any alt-coin ever "makes it" is 1) if it serves a niche market Bitcoin was not optimized for (i.e. Namecoin) or 2) manages to make a huge leap in some technical or economic fashion which cannot be replicated in Bitcoin itself (almost impossible) or 3) Bitcoin turns out to have some fatal bug in the protocol itself. Which of these scenarios is most likely?
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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furuknap
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May 09, 2013, 06:26:54 AM |
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If a coin is actually going to "make it" it will need more than a slightly modified version of Bitcoin or Litecoin.
Bitcoin has the first mover advantage, and by a long margin. The only way any alt-coin ever "makes it" is 1) if it serves a niche market Bitcoin was not optimized for (i.e. Namecoin) or 2) manages to make a huge leap in some technical or economic fashion which cannot be replicated in Bitcoin itself (almost impossible) or 3) Bitcoin turns out to have some fatal bug in the protocol itself. Which of these scenarios is most likely? You mean like 2) a quicker blockchain or a non-SHA algorithm or more coins, if so desired by society? You do realize that Netscape was the first mover by a long margin, right? Bitcoin may lead now, we have no idea about the future. I strongly believe that Bitcoin 10 years from now is either gone or something quite different from what it is today. .b
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MoonShadow
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May 09, 2013, 06:38:10 AM |
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If a coin is actually going to "make it" it will need more than a slightly modified version of Bitcoin or Litecoin.
Bitcoin has the first mover advantage, and by a long margin. The only way any alt-coin ever "makes it" is 1) if it serves a niche market Bitcoin was not optimized for (i.e. Namecoin) or 2) manages to make a huge leap in some technical or economic fashion which cannot be replicated in Bitcoin itself (almost impossible) or 3) Bitcoin turns out to have some fatal bug in the protocol itself. Which of these scenarios is most likely? You mean like 2) a quicker blockchain or a non-SHA algorithm or more coins, if so desired by society? Yes, if so desired. Note, however, that these are not changes that cannot be replicated in Bitcoin itself. The faster block interval is unlikely to change, but the hashing algo is deliberately modular in Bitcoin. There is nothing magical about SHA-256. You do realize that Netscape was the first mover by a long margin, right?
Indeed. You do realize that Firefox is a direct code successor to Netscape Navigator, right? Netscape (the company) did not cease to exist because they failed to compete with IE, they ceased to exist because they were legally destroyed by M$. In the same way that Firefox is an open source version of Navigator and has successfully incorporated features into the codebase that Windows IE pioneered, there is no innovation that any alt-coin can make that Bitcoin can't just steal, if such an innovation proves to be desired by the public. Bitcoin may lead now, we have no idea about the future. I strongly believe that Bitcoin 10 years from now is either gone or something quite different from what it is today.
.b
Again, evolution. I have no doubt at all that bitcoin will be something quite different, but it will still be bitcoin. Keep on mining your litecoins, though. Bitcoin still needs it's evolutionary failures. Keep in mind that this is a bitcoin discussion forum; if bitcoin didn't have something to gain from the alt-coin section, would it be here?
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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markm
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May 09, 2013, 06:40:11 AM |
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Q. Why so many alt coins?
A. So future Bitcoin-qt developers can cut their teeth and learn the codebase.
It maybe isn't working all that well though. Instead of cutting their teeth, their teeth seem rather to tend to get cut. I can think of at least two excellent learning opportunities off the top of my head that instead of being taken up were simply tossed aside. One is I0Coin, why does it die on a boost exception trying to do a host lookup and why does it eat so much RAM? The other is GeistGeld, if you think I0Coin eats a lot of RAM check out GestGeld! Are they both eating it for the same reason, or do 15 second blocks simply consume a lot more RAM than 10 minute blocks do? Learning does not really seem to be a popular motive nowadays, "kids nowadays" seem to prefer get rich quick schemes. Learning might not be quick, so doesn't really fit well into that gameplan... Think though how many people there are out there holding such antique coins, maybe wishing an exchange would re-open or open so they could offer bounties for the expert restoration of such classic antiques... -MarkM-
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solex
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100 satoshis -> ISO code
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May 09, 2013, 06:43:39 AM |
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Indeed. You do realize that Firefox is a direct code successor to Netscape Navigator, right? Netscape (the company) did not cease to exist because they failed to compete with IE, they ceased to exist because they were legally destroyed by M$.
Agreed. Netscape is not a valid comparison because it was deliberately killed off by Microsoft using their 95+% dominance of the PC market to promote their own IE. You could call that a 51% attack Bitcoin's first mover advantage is more analogous to that obtained by the QWERTY keyboard, prevailing over other competing formats in the 100 years since.
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markm
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May 09, 2013, 06:49:44 AM |
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Bitcoin's first mover advantage is more analogous to that obtained by the QWERTY keyboard over other competing formats in the 100 years since.
Ha ha nice pick. People have their habits. Imagine how annoying Litecoin is, its like television commercial-breaks that are just too short to actually let you "relieve yourself" without missing some of the show. You barely order your coffee to sit down and have a nice relaxing chat with your shopping buddies while your transactions clear before the announcement system is bugging you "number 234, number 234, your order is ready at Walmart checkout lane 6..." Okay so Walmart might know better, but will all shops allow you your tradtional sit down once litecoin starts edging out bitcoin? -MarkM-
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furuknap
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May 09, 2013, 07:07:04 AM |
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You mean like 2) a quicker blockchain or a non-SHA algorithm or more coins, if so desired by society?
Yes, if so desired. Note, however, that these are not changes that cannot be replicated in Bitcoin itself. The faster block interval is unlikely to change, but the hashing algo is deliberately modular in Bitcoin. There is nothing magical about SHA-256. Exactly, and from where do these changes come? It's not like someone suddenly discoveres that it would be great to have a faster blockchain and then Bitcoin suddenly knows how to handle it. The idea is tested, evaluated, discarded or not, after having been used in alt-coins extensively. Indeed. You do realize that Firefox is a direct code successor to Netscape Navigator, right? Netscape (the company) did not cease to exist because they failed to compete with IE, they ceased to exist because they were legally destroyed by M$.
Again, exactly. First mover is not a competitive advantage in all cases or even most cases, nor is market dominance, or second mover even. A competitor must stand on their own merit, not simply because of time. If Bitcoins main benefit is being first, then the first Bitcoin clone to offer something more than that will win, or be the IE to Bitcoin. In the same way that Firefox is an open source version of Navigator and has successfully incorporated features into the codebase that Windows IE pioneered, there is no innovation that any alt-coin can make that Bitcoin can't just steal, if such an innovation proves to be desired by the public.
Bitcoin may adapt by copying what makes its competitors successful, but then the argument could be reversed and say that "Well, Bitcoin is only cloning the success of Litecoin's SCrypt, so why would we use Bitcoin instead of Litecoin?" Again, evolution. I have no doubt at all that bitcoin will be something quite different, but it will still be bitcoin. Keep on mining your litecoins, though. Bitcoin still needs it's evolutionary failures. Keep in mind that this is a bitcoin discussion forum; if bitcoin didn't have something to gain from the alt-coin section, would it be here?
I don't think we really disagree, but my point is that Bitcoin isn't special because it is Bitcoin. Bitcoin is special right now because it is largest and most widely known, but that and the fact that it (as well as any other coin) can copy-cat other alts cannot be its primary competitive advantage in the long run. Like I said; we don't really know what the future holds. We're at Netscape Navigator 2.0 now. .b
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Astrophysical
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May 09, 2013, 07:26:37 AM |
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Why?
People want to get rich?
Answered your own question. Just don't buy them if you don't support them. People will learn to judge them based on their merit.
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Amph
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May 09, 2013, 07:39:28 AM |
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infact they should ban all but euro and dollar
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MoonShadow
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May 09, 2013, 12:15:34 PM |
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In the same way that Firefox is an open source version of Navigator and has successfully incorporated features into the codebase that Windows IE pioneered, there is no innovation that any alt-coin can make that Bitcoin can't just steal, if such an innovation proves to be desired by the public.
Bitcoin may adapt by copying what makes its competitors successful, but then the argument could be reversed and say that "Well, Bitcoin is only cloning the success of Litecoin's SCrypt, so why would we use Bitcoin instead of Litecoin?" The first mover advantage & Bitcoin's much greater network effect. On many technical points, AOL was a better network than the Internet at large. The Internet improved. AOL is not dead though, still used by old people running modems.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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bitsalame
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Preaching the gospel of Satoshi
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May 09, 2013, 06:21:29 PM |
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Another example about first movers failing: the inventor of the transistor, William Shockley. Nobel prize winner, and yet a terrible manager. He failed miserably in making a commercial product, for being such a nerd he focused on "sexy problems" rather than practicality and commercial success, all his key employees ended up deserting him. Those desertors (aka. the traitorous 8) ended up working for the competition Fairchild Semiconductors taking advantage of everything they learned through the insufferable Shockley. Later on they took whatever they learned and researched in Fairchild to create their own company: Intel.
So if we take that as a case study from discovery to actual implementation: bitcoin may have a very long way to go, and the future is quite unpredictable. The fundamentals of bitcoins might subsist, but the future of cryptocurrencies will not be bitcoins. Probably it will have another face and another name.
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Walter Rothbard
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May 09, 2013, 06:24:08 PM |
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Bankers want to bring down the bit coin system, by flooding the market with alt coins? It's clearly working; some of my Bitcoins this morning wouldn't work because there were too many Chinacoins and Bitbars gumming up the system. Just stop creating more alt coins! I haven't even started yet.
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Simran
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May 09, 2013, 06:25:02 PM |
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I don't hate the new alts, but I do feel that this place, the birth of them, needs to be organized. It all depends on the preference of the user like another user referenced cigarette brands. Not all companies can stay alive forever. Since most of these new coins offer little difference to their parent coins(All the new litecoin based) and are valued less, they will fade away and be a mere memory of the time they were alive.
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Vladimir
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May 10, 2013, 06:00:25 AM |
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The more shitcoins there are, the easier it is to ignore them. So I say the more the merrier. Pile on, shitcoin makers!
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Operatr
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May 10, 2013, 11:08:02 PM |
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I don't hate the new alts, but I do feel that this place, the birth of them, needs to be organized. It all depends on the preference of the user like another user referenced cigarette brands. Not all companies can stay alive forever. Since most of these new coins offer little difference to their parent coins(All the new litecoin based) and are valued less, they will fade away and be a mere memory of the time they were alive.
There is a call for new alt forums, altcointalk.org is being born, altcoinforum.org is already active I believe
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Jackrodwell
Copper Member
Newbie
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Activity: 364
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January 11, 2019, 07:52:26 PM |
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Why so many cigarette brands ?
Because of preference and open source! Any body can just wake up and decide to make a brand different which give room for choice!
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dutechman
Jr. Member
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Activity: 199
Merit: 1
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January 11, 2019, 09:07:54 PM |
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Because many altcoins do not have a cogent problem they want to solve. A lot of developers of many altcoins projects are scammers. No concrete roadmap, no reasonable product. They just want to defraud people/investors and disappear. Even those that made it to market because of lack of good plan and problem-solving strategy die of market force quickly. These so many fuck altcoins have created a kind of panic in investors. I am of the opinion that the activities of ICO be regulated, this will curb or minimise the advent of these useless altcoins.
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jupppo
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January 12, 2019, 09:19:40 PM |
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I think the main reason it hype. Using cryptocurrency for collecting funds is the easiest way to reach capital. All investors are investing in this segment, they believe in blockchain. But some projects don't need blockchain at all for their work.
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HichemFetoui
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January 12, 2019, 09:22:00 PM |
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i think this question has no sense .. why there is a lot of project in life every altcoin has an agenda and purpose behind it but not all of them will succeed in the long term and you need to be safe
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edmundo
Copper Member
Jr. Member
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Activity: 518
Merit: 2
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January 12, 2019, 10:10:11 PM |
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Actually, the fact that the crypto industry is unregulated means there are a lot of people looking to game the system by developing meaningless and senseless projects mostly with the intentions of defrauding people through shabby ICOs. This occurrence has increased tremendously over the past few months leading to a proliferation of uncountable number of altcoins. Unfortunately, this will continue unabated until strict regulations are put in place.
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ankhmary
Newbie
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Merit: 0
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January 13, 2019, 04:18:12 AM |
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i don't know why so many altcoins are launched ,but some altcoins are vanish in after some days after it launched.
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smileflowers
Jr. Member
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The Premier Digital Asset Management Ecosystem
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January 13, 2019, 06:06:45 AM |
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if there is only one coin. i think u may be very disappointed. so many coins can make the market look messy. but it also means that the market is booming. they will produce some real lasting coins
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Shatterlean22
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Merit: 4
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January 13, 2019, 06:12:26 AM |
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You are confusing, are the bankers the ones creating altcoins on here? If so what will be there gain? Because only newbies will fall victim to silly scam projects like wavex and ethereum classic vision, till the end of time there will always be scam projects unless a new way is introduced to tackle them
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BTCGOLD
Sr. Member
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Merit: 256
Betking.io - Best Bitcoin Casino
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January 13, 2019, 06:20:21 AM |
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i don't know why so many altcoins are launched ,but some altcoins are vanish in after some days after it launched.
Altcoins arise mainly from the greed of people who create them. A large majority of altcoins has no use and is created only to make pump&dump, thats why we always have to check the project very well before investing.
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hongus
Full Member
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Merit: 100
Adoption Blockchain e-Commerce to World
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January 13, 2019, 06:23:47 AM |
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I will not speak with you. If projects were created with high standards. That such a fall in prices would not be. Now projects do not reach out and are practically not suitable.
If investment in alt-motive coins stops, will the market improve? I think this will not be ..
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laredo7mm
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January 13, 2019, 07:12:55 AM |
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This happened because there were a lot of projects that died due to declining market conditions and in my opinion the market is currently in a bad condition. ico also has too much fraud and makes a lot of garbage tokens
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semobo
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January 13, 2019, 07:19:38 AM |
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Because so many people have the dreamer becoming satoshi nakamoto by creating their own cryptocurrencies.
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red4slash
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January 13, 2019, 07:25:58 AM |
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Because so many people have the dreamer becoming satoshi nakamoto by creating their own cryptocurrencies.
maybe what looks like that everyone dreams of becoming Satoshi Nakamoto but if viewed from another perspective, I see the development of crypto in the emergence of altcoin because each project has a purpose that
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mangsitin
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January 13, 2019, 07:38:15 AM |
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Because they want the benefits of each Bitcoin price increase, they make trading partners with Bitcoin, so they can manipulate prices on the market, because they have their Coins in their hands. So that it is currently being followed by the ICO project which is very much arriving every day.
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mariogomer
Member
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Activity: 462
Merit: 10
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January 13, 2019, 07:40:19 AM |
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Most of the Altcoins will be destroyed in the future. Too much Altcoin is hurting the market. I'm sure whales will be happy with this situation and it will be easy to confiscate these savings.
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GGmith
Jr. Member
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Activity: 394
Merit: 1
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January 13, 2019, 07:42:45 AM |
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I think the presence of a new altcoin is quite useful, making it easier for everyone to buy at a low price, but there is also a negative side like many new altcoins that have no selling points and no further developments.
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Sarjana Muda
Newbie
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Activity: 316
Merit: 0
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January 13, 2019, 07:46:38 AM |
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Because it's too easy to make and many coin seekers are seen from current bounty enthusiasts..
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sky9314
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January 13, 2019, 07:53:11 AM |
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Creating a new Altcoin is not only simple, but also has no cost, so it is favored by many scammers. It is not that we need so many alt coins, but scammers. In fact, many of them are shit. I believe that most of the Altcoins will die in the future, and the Altcoins that can survive will not exceed 10%.
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emberbekas
Legendary
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Activity: 1904
Merit: 1000
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January 13, 2019, 08:07:30 AM |
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Creating a new Altcoin is not only simple, but also has no cost, so it is favored by many scammers. It is not that we need so many alt coins, but scammers. In fact, many of them are shit. I believe that most of the Altcoins will die in the future, and the Altcoins that can survive will not exceed 10%.
When there are opportunities and holes to be exploited, scammers will try to benefit from it and is no exception to the cryptos hype. The number of alts is now very large and most of them will definitely be forgotten. Market selection will only leave coins that really have a vision and mission, along with continuous development. Not only alts from scam projects will be gone, alts from real projects with minimal development will certainly disappear too.
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semobo
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January 13, 2019, 08:13:47 AM |
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Because so many people have the dreamer becoming satoshi nakamoto by creating their own cryptocurrencies.
maybe what looks like that everyone dreams of becoming Satoshi Nakamoto but if viewed from another perspective, I see the development of crypto in the emergence of altcoin because each project has a purpose that There were hundreds of projects launched by teams everyday but most of the team's purpose is to make money from their projects,only few team have the purpose of making their crypto into the real life usage,hope to see some of then in 2019.
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cr7
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January 13, 2019, 08:17:16 AM |
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i don't know why so many altcoins are launched ,but some altcoins are vanish in after some days after it launched.
And some do not enter the market at all. Simply put it were scammers! It's a pity for investors, but on the other hand it's good that the market is self-cleaning!
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nreal
Full Member
Offline
Activity: 932
Merit: 100
arcs-chain.com
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January 13, 2019, 09:19:24 AM |
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Because many ICOs are being born. I think instead of complaining and wondering, "there are too many coins" why don't you focus on the coins you care about.
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Ryananda
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January 13, 2019, 12:24:24 PM |
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being rich is everyone's dream, so in terms of looking for wealth, it takes intelligence both in terms of making altcoins and other things, we cannot stop every step of the person who wants to go forward and seek wealth.
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distr@yopmail.com
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January 13, 2019, 12:30:52 PM |
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being rich is everyone's dream, so in terms of looking for wealth, it takes intelligence both in terms of making altcoins and other things, we cannot stop every step of the person who wants to go forward and seek wealth.
in fact they don't only talk about wealth. some of the many altcoins are now a result of industrial developments that are beginning to become interested in crypto technology. or market demand that asks some industries to keep up with this development, because they know that there will be many interested people who can give him an advantage.
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FUD Expert
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January 13, 2019, 12:47:44 PM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
Blockchain is like the internet. People will create websites of they own to advertise and promote their products and services. But I got to agree that the effect of many altcoin is different from websites. Many websites created means that there's a great opportunity in it but many altcoins means many investments lost is failed projects.
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darewaller
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January 13, 2019, 02:39:34 PM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
There seems to be a bit of bad rep about the number of coins in the recent couple months. I have started to see more and more topics of how new coins are bad for business and whatever constantly, that is not to say people are wrong about the subject but they should realize that ICO and new coins are not a new thing. Back in the day ICO wasn't a deal but people created their own coins constantly and premined almost half of the coins themselves as a means to make money later on and just published the wallet like a start and than manage to get people to use that coin instead and they would sell their coins small by small to make the funds needed. All of the big coins you see started that way and wasn't a big problem considering for every big coin like eth there was a thousand useless coin. This is not a new thing and the only difference is now people need to pre-fund something before it comes out, so if they stop funding bad ones we will not have this problem at all.
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maaldaz
Member
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Activity: 420
Merit: 10
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January 13, 2019, 02:43:38 PM |
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I had ever meet something or project that saying that if they join them, there is a possibilities that they could create their own personal coins for themself without having to struggle with the code or something like that. I believe that is one of many reason why there is so much coins available.
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plr
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Activity: 1148
Merit: 24
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January 13, 2019, 03:00:36 PM |
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Not really people but organizations and companies since creating a token is now very easy and it is open source, anyone can create their own token for their organization and companies, and because of this we will see more tokens in the market that are attached to a company or organization.
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chairmanMao
Member
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Activity: 456
Merit: 15
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January 14, 2019, 08:46:12 AM |
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This is the serious consequence of the abuse of ICO. This directly led to a large devaluation of cryptocurrencies, but the growth of emerging markets in capital is usually crazy. The bull market will come when Bitcoin approaches death.
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Felic43
Jr. Member
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January 14, 2019, 09:36:51 AM |
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99 percent of the new coins are here to raise money after they will run aways with someone money, information, energy.
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BADBITCH
Jr. Member
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Activity: 532
Merit: 6
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January 14, 2019, 09:52:24 AM |
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Because we make money off them. Because they are fun to fuck around with. Because it is a learning experience for the devs. Because there is no stopping anybody from making one. Because, why not?
I think your reasons are exactly what happened in year 2016 and 2017 Everyone made fun of altcoins and I’m the process learnt a lot of lessons and made a lot of money too Even more money because there are thousands of uselsss tokens across exchange platforms
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corrado25
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January 14, 2019, 10:03:57 AM |
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In fact im think, at present, the number of altcoins is declined.I associate it with that ICO number developed at ETH has declined. Really in the market now much is not needed cryptos without technology and ideas designed to quickly make money and then disappear
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Pline
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January 14, 2019, 10:22:37 AM |
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People simply want to make own coin and there are a lot of ideas they want to realise. Well, as far as I know, besides coinmarket cap there are a lot of coins with lower volume not presented there
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fuer44
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January 14, 2019, 10:28:07 AM |
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most fraudsters will continue to make coins with their best concepts to deceive investors and bounty hunters. this is very difficult to remove from the crypto industry.
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Moriwhite
Jr. Member
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January 14, 2019, 10:39:21 AM Merited by TimeTeller (1) |
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The emergence of many altcoins sometimes has no development, I also wonder why many altcoins appear but don't develop anymore. since then I have stopped investing in the new altcoin because of doubt.
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lobo13hf
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January 14, 2019, 11:55:16 AM |
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most fraudsters will continue to make coins with their best concepts to deceive investors and bounty hunters. this is very difficult to remove from the crypto industry.
It's possible to remove them as long as the investors must keep their trusted on the crypto expert and aware with any awareness regarding the scam project. But a lot of dumb bounty hunters are so blindly promoting shit scam coin just like ETCV.
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sexylady13
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https://www.udap.io/ - Tokenize Everything
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January 14, 2019, 10:13:03 PM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
What's the panic? Why are you so afraid of such amount of coins but not thousands of shares in the Wallstreet markets? You seem to be a hamster who ask without trying to think with his own brains!
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sherenikaw
Member
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rocket.hashbon.com
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January 14, 2019, 11:09:32 PM |
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I personally really don't think that i will be rich at this moment because of the crypto. In fact, I am not a trader that can hint the profits everyday. i am only a bounty hunter and an investor that can enjoy the profits after several months. Well, when seeing the market, this is too bad, they are likely dying and cannot be expected.
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JeBro
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Living is easy with eyes closed ...
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January 15, 2019, 03:59:44 PM |
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Damn, I can’t believe that this question worried the crypto community in 2013. I think fast money attracts entrepreneurs from all over the world to create new crypto projects. And at the current numbers, the quantity of crypto tokens will not stop.
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e@symode
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January 17, 2019, 04:05:20 PM |
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Because every person today is trying to create his own project, which can be realized sooner or later. Maybe today you and I will not be able to fully answer the question, but it seems to me that there has not been without greed.
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TheCrimsonFucker
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January 17, 2019, 04:55:46 PM |
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Incredible, they were already unhappy with some altcoins since 2013! Imagine now? Well, it is a natural and inevitable situation, because each one wants to create the next BTC, instead of all go in a single path, it is preferable to each go their own way, it is the free commerce that provides this situation.
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Vektrum
Member
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Merit: 14
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January 18, 2019, 06:52:49 AM |
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Why so many cigarette brands ?
And why are there so many types of clothes and shoes? The only answer is that people want to create something of their own, something special and new, and also want to capitalize on it. Therefore, based on the fact that everyone is allowed to the process of creating new coins and tokens, this will happen in the future and this is quite normal. Only in this way can a cryptocurrency be improved and developed. Useless coins and tokens vseravno eventually leave the market.
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ereborltc
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January 18, 2019, 07:06:18 AM |
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Why?
People want to get rich?
Bankers want to bring down the bit coin system, by flooding the market with alt coins?
Just stop creating more alt coins!
The crazy rise of the blockchain project in 2017, let people see the road to making a fortune, will only create a lot of scam projects.
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