why so many altcoins?

[oegarod]

Altcoins were getting into existence with specific objectives with unique features that is not found with every altcoin. When the number of altcoins keeps on increasing, surely the competence and the growth of the cryptocurrency network will progress causing further advancement in technology.

[Teraboy]

Just because there are so many people who just want to make easy money without any real work, also there are so many who buy these unreal stories.

Just like the majority of the airdrop token with no purpose at all. As i can see about the network gets bloatet due to the crap coin created by the scammer. And the airdrop whore is also hurting the ethereum network itself. The airdrop must be stopped. i hope there will be a requirement to put high ethereum value to make an asset.

[Daniel_West]

There are lot of them,  but some of them are junks..

Most of them, to be exact)

[leslie4u]

Good question!!!

When I started with Crypto, I too asked myself, what is the need of having so many coins. Then I understood that each of these coins have something unique in them. I mean the feature that it bring to the table, reason behind creating such coin, what's the vision and so on. Not to forget that we also have scam coins, where people would just create any coin, copy whitepaper and try to fool people and then run away with money. Got to be very careful with the new coins that come into the market for sure.

One other advantage of having a lot of Altcoins is that it helps in the diversification of investment.

That's all for now, Have a good one.

[gracer88]

It seems to me that people saw the opportunity to earn now on this. Doing ICO is not so difficult. Therefore, 100 ICO leaves on the day, and many of them disappear together with the money after the fundraising!

[sugiri]

Not every coins but some have really unique ideas such as ripple, IOTA

[Fundalini]

why are there so many coins to choose from, do they really each have something unique about them?

Most of the features offered by alts are banal; lending, esports, decentralized escrow and services..I've seen at least two ICO's having these concepts. While the devs might not totally be in it just for the money, one can't deny the fact that after some time, the coin would just be useless.

[burnum]

I remember this questioned being asked in 2014 
and most everyone here has answered it pretty good,
I can also add that some coin devs or token startups might feel like they can do a better job at promoting a coin that they brand and market and use to target specific users, developers might feel like they can write better code to support a blockchain,
I know this feeling firsthand cause I had a great idea and started a new coin in 2014, there are many many reason's for so many different coins.
Which one has turned out to be your favorite?
I truly believe all the altcoins have supported the growth of crypto currency so all these coins are a good thing.

[SixOfFive]

Crypto market is decentralized and unregulated so anybody can create its coin/token and enter in this market without much hindrance. Unlike stocks, there is no regulatory authority so even scamers can create a fake coin with fake history and concept; collects crowd funding and then get vanish. So don't believe in any shit coin or ICO, do a deep research about its team before investing.

[ckorbba]

Crypto market is decentralized and unregulated so anybody can create its coin/token and enter in this market without much hindrance. Unlike stocks, there is no regulatory authority so even scamers can create a fake coin with fake history and concept; collects crowd funding and then get vanish. So don't believe in any shit coin or ICO, do a deep research about its team before investing.

I completely agree with you, because in this way you can secure yourself from negative investments and the loss of your funds. It is necessary to do a very deep analysis of information about the selected projects, only then there will appear At least some certainty as a result.

[bitcoin.clakr]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

Not all altcoins are useful, many of them don't have any use. They are only pump and dump altcoins.

Yes, many coins were created only to make the creators of this project rich. Unfortunately, such projects deceive users and promises remain unfulfilled

[Bitmedrano040117]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

There are so may altcoin now because there is money in this industry. That's why even the scammer and the hacker get involved themselves  here too. But there are some altcoin establishing or creating ico because they believed their token will going to have a value depending on the community who will going to believe in their project.

[reztava]

very much indeed the alternatife coin that has a lot of listings and for others I still have not found a potentially good for the future.!

[vibingpositively]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

There are so many because it is a free market and you can't tell somebody not to enter especially when something is open source. That being said no there is no way there are 1500+ cryptos and there are 1500 unique things about them all but they are trying to compete which is healthy for the industry. Now you must do your research and see which is best because all of them wont "moon".

[kevindjunaidi]

altcoin has a lot to do because there are so many ICOs in circulation right now, as more and more ICOs are in circulation there will be more and more altcoin in circulation (because the ICO will make new coin for as payment when we invest in the project).

[bbcolex]

Consider every other coin beside bitcoin an alt coin,  every ICO that releases a coin or token are considered to be ALT coin. Though some coins are created to be a joke. Maybe high percentage of alt coins are not worth it or zero worth that why an ALT just a substitute for bitcoin and can never really surpass bitcoin bullish run. Too may ALT too few with really useful usage.

[wattcrypto]

There are many altcoins out there right now, but you have to do your due diligence to see which ones are worth the time and money. IMO polymath is a big players especially witht he SEC crackdown lately. They help people launch security token projects and get connected to KYC-verified investors on their platform. All of the token projects launched are complaint, which I see will make waves int he crypto community. Also, the platform is idiot-proof, which makes it easier to businesses to get in on it.

You should even look at their demo: https://polymath.network/wizard/

[carriebee]

So many altcoins but few coin that has a future and can offer advantages to the users. Other developers created new token an altcoin to get rich to invest in their coin. The good thing to do before you invest to make a research in which coin is worth it.

[lighpulsar07]

The reason why there are so many altcoins is they want to make their project and themselves rich just look at the top 100 altcoin in coinmarketcap and their market capitalization that is a lot of money right? The devs dream for their project but the problem is there are some people only want for money by creating shitcoin currency and also, some scammers took this opportunity to create a ponzi schemes.

[erickkyut]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

Not all altcoins are unique. Most of them are just shit coins or scam. There are some that are good quality altcoins. They really have something unique compare to the others and their developers are trustworthy and has good background. You should do your own research first before you invest on them. Beware of the coins wherein they have some pump and dump group.