Why 99% Alt Coin Will Fail? A Case Study

[rizkyhiw]

Every word is true.

We’ve all seen ICOs, where we are promised a revolution but don’t even see the beginnings of it. Most ICOs don’t even seem to have an Alpha version of a product, and if you read their white papers, you find that the project isn’t even past the conceptualization phase

We are living in money making generation ,
Where the one who have an idealist vision is so rare exist , they are a realistic one who think so selfish to make a quick bucks through cryptocurrency business opportunity ,
A future purpose on how cryptocurrency could actually working well to help fintech develop in our daily lives through altcoin invention almost disappeared , i can't see it anymore , last time it's bitcoin who have that pure future purpose ( maybe it's the only one  ) .
Really my doubt on altcoin getting higher time after time , we might have to discuss more about something like this.

[CryptoRobert]

This is why, even though you hit the jackpot usually when you spot a great coin from the very beginning, sometimes it is better to focus on coins which have already proved that they could survive for one or even more years.

[naidray]

Failure in business is not peculiar to crypto currency alone! Take time off crypto and read statistcs in the  Mainstream! More than 90% of new start up fail also in other businesses! Something that is different about crypto however is when any coin succeed, millions of people all around he world regardless of their colour, creed or beliefs will benefit!

You have a point! Shit happens in the real world of business generally and crypto market is not exempted.
However, looking at the crypto market, it is obvious so many of them will fail more than what we would have had in the real world.

Some do not even have a project backing them, no purpose why they were even created except some formed up whitepaper that any native English speaker can help coin perfectly. Some just started ICO to raise money to build their dream and some people fell for it.

[upsidedown75]

I agree with the OP that there are a lot of junk coins that have no use or merit, and often not even a white paper. These will inevitably fail. 99% seems too much, but then how many coins are out there? They are not all on coinmarketcap.

Apparently, any coin that has finished ICO ever since and not yet on any exchange or on coinmarketcap has actually failed before even arriving, most of them were just meant to be scams except for few of course who are still probably waiting to put some few things in order maybe before releasing to any exchange.

Like the OP have said, so many of them will fail and only those with purpose, good project and great team will thrive.

[imteaz]

I have participate a quite a few bounty program 2 months ago, and almost 40% them turned out to be scam or didn't pay after bounty ended. You be careful guys, first research then join the bounty. good luck

[St4yInTh3D4rk]

I have participate a quite a few bounty program 2 months ago, and almost 40% them turned out to be scam or didn't pay after bounty ended. You be careful guys, first research then join the bounty. good luck

If you are participating in a campaign you need to research about the project first before applying,some campaign will be run by reputed managers so it is better to join in their campaign because they take the responsibility of paying the participants at the right time.But it is better to join in the signature campaign which is paying in bitcoins because they are always legit and pay with escrow.

Many coins are created everyday but only for the earning purpose they will leave the investors once they made enough profit so research about the history of the project team before investing or promoting their project.

[noloco]

More or less the same points could apply to any industry in early stage of development.

How many car, computer hardware, .com sites... existed and how many of them lasted for more than 10 years?

[Shaibana]

It's a matter to spot that 1 %. Interesting point, this happens also in real life, most enterprises will break, here in the digital world that 1-99% relation is actually truer as you can expose whatever you want on the internet regardless of your real management skills.

[cryptopuma]

Well, Recently I have noticed Alt coin market saturated, If you visit the Alt coin announcement or bounty, you will notice every hour, there is a new coin announcement.

So my question is, how many % of those new alt coin survive in long run? let's say 1 year? 2 years? or even 5 years?

99% of them will fail within first year. Here's why:

1. People making millions of crypto currency, we can make it, lets make a coin.
2. People have no idea, what they are getting in, and how to run a company or organization.
3. People wants easy money.
4. No reputable organization or company behind the idea.
5. Most of people under 25, wanaa be entrepreneur, without any background or knowledge.
6. Most of the alt coin start with ICO, expecting to collect millions of dollar from it, without any capital.
7. How many new alt coin company can run of 20 to 25 dev team? not many.
8. Without zero marketing idea, or how to market the coin.
9. When coin price doesn't go up in couple of months, they give up.
10. If we can list on exchanges, we will get rich!

And list goes on... Post your opinion, why 99% alt coin will fail?

The rest of 1% Alt coin will survive beyond 2020 because >
1. They have a purpose and ambition.
2. They don't go after money, rather working hard to maintain back end.
3. Strong Development team, who knows what they are doing.
4. Keeping touch with social media, updating every move and letting investors know, they are in good hand.
5. Trust factor, you have to show that public will trust you.
6. Regularly have conference, at least twice a year and update investor, what's going on.
7. A clear road map, and actually follow it.
8. Thinking long term.
9. Hire actual marketing people rather than depends on this forum only.
10. There are million of people who doesn't use Facebook, Twitter, Instagram, you have to learn how to reach them.
11. Stop depending on Social media, We all know 70% people use social media is under 25 and they are student. They are not investor.
12. Try to connect your coin with any company, or organization, no matter how small it is.
13. Go slow, don't worry about your price, worry about your project and stability.
14. Hire online entrepreneur or even a YouTube star, if your audience is young and target market under 25.

I can go on and on but these are my opinion to be a successful in this field.  

Great point of view,you just killed all the dumb ICO makers,this is very helpful for the newbies.

[catapult]

There is nothing obvious in cryptocurrency. A coin which has not shown a good rising in the past can catch a good rising. Yes, there are a lot of useless coins, but sometimes unexpected coins can catch unexpected prices.

[Zufox]

There is nothing obvious in cryptocurrency. A coin which has not shown a good rising in the past can catch a good rising. Yes, there are a lot of useless coins, but sometimes unexpected coins can catch unexpected prices.

There is a vivid example - the Doge. As far as I know, the coin was created for a joke. And exists for several years, periodically demonstrates a very strong growth, but then it also falls strongly, but still lives!

[Robin789]

Some Altcoins project is not good.
If they do not work hard enough then their project will not be ready.  they will fail.
If the team is good and had a vision then too price will rise and will create demand else mostly coin will fail In most cases.
thanks.

[hashshashin]

There is nothing obvious in cryptocurrency. A coin which has not shown a good rising in the past can catch a good rising. Yes, there are a lot of useless coins, but sometimes unexpected coins can catch unexpected prices.

I agree with your opinion! It is impossible to say with certainty and predict the growth of a coin, especially in the long term, since the market is still not stable.

[GayOfThrones]

Your analisys is quite correct, what is unclear is which will be the exact percentage of the surviving coins. It coul me much more... or much less than 99%.

[crenfrosck]

I got your point, your argumentation with very clever points is something what every single new member of this community should read before they make something stupid and they'll blame everyone but not them.

[ronatrip]

I noticed that some good company don't make bounty campaign anymore, because they are afraid that the bounty members sell all earned tokensall on the stock exchanges and the rate of their coins is falling. So I think that over time successful projects will not give opportunities to participate in their bounty

[gargavaar]

Ah, the joy of the free market 
Only the best will survive.

[_Dawid_]

I am sure that not 99% at least 20% amx 50% will fail during the first year of working.  And in generall could you show us a date which u have used for your calculations and for creating your point of view? I think that you just lost some $ and now you must do something against alts...
Otherwise you should not say 99%, because I know a lot of well working small projects, but not discovered yet by wider audience.(maybe it's good?(currently)).
But i have to agree that there is a lot of scam and new ICOs which will fail soon, but it may be 30-50% but definitely not 99%.
Maybe it will be 99% when the current bubble will burst? Who knows...

[johstacy]

You are a logician. You are balanced and constructive in approaching business and the market. Some whales are very smart; they have very much experience. When you listen to them, your mouth opens with admiration. However, there are not many such people. Many large purses just want to multiply their money. They do not care what happens next. Today is profit, and tomorrow they will come up with something else. But 99% is an exaggeration, in my opinion.

[kakawin]

I have confidence in only large ICO projects, with a large-scale project, the idea and support of large entrepreneurs. I noticed that in the bounty campaigns of such projects very stringent conditions for the participants. But maybe it's good.