Do we have too many alt coins?

[giveBTCpls]

There are people making decent amounts of money offering services that are basically "we pay us and we make your own shitcoin". It has turned into a whole market moving big amounts of money. 

[tinof]

99% of altcoins these days exists with the sole purpose in mind of their creators (and community) to bump and then extract BTC from the unsavy/speculators. Do not get fooled by false promises my friends.

Not only are they extracting BTC from fools, they are also dumping BTC for cash.

Not sure if anyone notice, every time there is a successful IPO or new coin, BTC market cap take a huge hit not long after. I am going to guess this is due the developers cashing out their btc.

[faiza1990]

99% of altcoins these days exists with the sole purpose in mind of their creators (and community) to bump and then extract BTC from the unsavy/speculators. Do not get fooled by false promises my friends.

Not only are they extracting BTC from fools, they are also dumping BTC for cash.

Not sure if anyone notice, every time there is a successful IPO or new coin, BTC market cap take a huge hit not long after. I am going to guess this is due the developers cashing out their btc.

You are right and as they cash out coins after few days new coin is not in frame and many newbies and investors lost huge money

[PangPang]

99% of altcoins these days exists with the sole purpose in mind of their creators (and community) to bump and then extract BTC from the unsavy/speculators. Do not get fooled by false promises my friends.

Not only are they extracting BTC from fools, they are also dumping BTC for cash.

Not sure if anyone notice, every time there is a successful IPO or new coin, BTC market cap take a huge hit not long after. I am going to guess this is due the developers cashing out their btc.

You are right and as they cash out coins after few days new coin is not in frame and many newbies and investors lost huge money

Yup, and indeed some suspected the previous bitcoin price drop 5 days ago was due to the Ethereum devs dumping their IPO coins.

[bangi]

Yes, we have too many.

I see coinwarz or any other exchange list and theres likes 18 alt coins.

[PangPang]

Yes, we have too many.

I see coinwarz or any other exchange list and theres likes 18 alt coins.

18? Check http://mapofcoins.com/ to see 550 altcoin lol.
Among them, there are at least 169 altcoins still trading on Cryptsy.

[Wekkel]

Again, the concept of (too) many is part of this tool of freedom. If you cannot grasp this, why bother continuing posting on this board?

[LorettaAndrews]

We have too many altcoin and too many Shit coin too.

[Pacowomo]

Yes we do. 99% are shit.

[Sonny]

Yup.
Those having the programming skills are free to make as many altcoins as they want, but the point I don't understand is why people invest in those shitcoins...

[iawgoM]

Yes. Few months ago there were some new alts that had decent launches and weren't scams. Those are still alive today and their prices vary - mostly because of pumps and dumps. It's hard to make something really revolutionary nowadays (it requires big efforts and manhours) to make your new coin any different than bunch of others. I say kill them all and just leave 15 well established coins (tops).

[faiza1990]

Yup.
Those having the programming skills are free to make as many altcoins as they want, but the point I don't understand is why people invest in those shitcoins...

Most of peoples invest in these just in greediness and some newbies invest because they have no idea what they are doing after losing money then they realize its shit

[FuckItWhatever]

Yes. Please make it stop for crying out loud.

[DrG]

Yes. Please make it stop for crying out loud.

You cannot stop scammers from continually making new coins to fleece new money.  What you can stop is the free money going to those scammers by educating people new to crypto to consider why they are throwing their money away.  Take the fuel away from the fire...

[Chompa]

All the altcoins have done a huge job marketing Bitcoin while marketing their own coin since mostly you could only buy them with BTC's. I don't know numbers but 10-25% of all bitcoin volume may be linked to altcoins.

[roller24]

I'm not sure if any of the altcoins made this year are even interested in becoming viable vehicles of commerce.
I opened an altcoin store, and tried to help out the coins I favored, because they all want to be accepted.
Not because they want to spend them, but because it will strengthen the value to investors.
After accepting 10 varieties, in one month, the store has sold $3 in merchandise.
I'm seriously considering dumping them, and concentrating on btc, ltc , drk, and doge.

[gelar24]

almost every day a new coin to emerge, and old coins on the market will die lonely.
here I just took to advantage only when the coin in a market crowded

[Bitbirdhunt]

Altcoins are growing like mushroom after the success of bitcoin many had put a greedy eye on this things,

[Testing123]

http://www.cryptocoincharts.info/v2/coins/info
Indexing 928 cryptocoins with a total 24h volume of 53,102.49 BTC and 7,078,874,268.66 USD marketcap!

Holy crap, we have 927 altcoin already listed on those altcoin exchanges?! 

[RaheemRaj]

alt coins are probably the future they have time to evaluate the current system of Bitcoin and when/if it fails get to design their product around the vulnerabilities of Bitcoin I think you will appreciate the time given from the developers in the future.