Too many Altcoins without value?

[rillater]

Maybe it's just my perception, but in these times when new coins appear every day, it seems to me that most of them lack value.

I have seen that many currencies are created based on an idea, that they intend to be used for something, even though at present they are useless, they are based on the hope of being used. I hallucinate seeing how some collect millions in the ICOs only promising that they will be adopted en masse, only selling an idea that has not yet been started or developed.

I wonder what chance of success has a currency that is defined as "the new currency that will replace Bitcoin" or any other great concept if only based on a theoretical idea.

Do you have to create the currency first and then wait for a community to be created that uses it?
Would not it be better to have a community first than willing to give the currency a real use before creating it?

I believe that for the creation of a new currency to make sense, it has to respond to a real need for the exchange of goods and services, if we only buy a coin with the hope of selling it more expensive, if there is not a community that supports it, We will be betting on a pyramid system, and we all know how those systems end.

That is just my opinion. I do not know what others will think.

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[btcprospecter]

I also see that there are far too many coins, more so that there is many that are just clones and don't really have any proper applications.
We see so many also with huge pre mines that can only put the devs in the right place when they do take off even if it is still under a dollar.
They are all trying to emulate what bitcoin has achieved but bitcoin has taken time to get the position it has now and market dominance.
Community is as important as the currency is it is hard to build a community without a product but it is easier to grow a community with a product as confidence grows so does the community.
Speculative trading is always going to happen as with any new crypto currency most peoples goal is for it to make them rich. As the community grows and more do start to accept it for goods it will become more of a currency rather than a coin that is just traded.

[boonsterx]

Yes there are too many ICO and too many coins that are being created that have no significant value.

It does not take much to create a coin nowadays and to buy your own coins using your own eth or btc..

And once you get some speculative activity, you can pay your way into a listing on the exchanges.

This is what i am concerned about the crypto space... too many such shill coins.

We will see a big shakedown soon and only the coins which actually can contribute to mankind will remain..

[civiszero]

Alot of coins without value  look at their team roadmap whitepaper, do they have a working product. U do that and u will be good

[sebinator]

Yes, I have also noticed this. Even big coins like Bcash or Ripple have billions of dollar in market cap. The altcoin bubble will burst and all these shitcoins will disappear.

[Oregano012]

to many ico getting created day by day .. im afraid of it aswell this might lead to a bigger burst

[Martinkuhn]

Too many altcoins are not even worth the effort to read their whitepaper. You can tell that many altcoins are created to grab cash from greedy investors who got no idea what they are doing and just hoping to find the next bitcoin by buying everything.

This FOMO or lottery mindset is being exploited by many badhats to grab as much cash as they can until this whole scam gets regulated or it blows up

We should always be careful what we are investing into and not be caught in this fomo attitude..

[daicavung]

Alot of coins without value  look at their team roadmap whitepaper, do they have a working product. U do that and u will be good

Take a look at their whitepaper, their staff meets the requirements of the project, you see the roadmap is reasonable, the roadmap too short to show that the coin is cheating. , and it is important that you listen to the opinions of the Telegram community, facebook ... and so on. The above will help you choose the most likely coin.

[meer45]

Most of them do lack value. But this is to be expected, since crypto is still a fairly new market. As time passes and the market becomes more saturated, the worthless coins will be weeded out and we will be left with the coins that have actual value.

[tachi641]

Many ICOs getting created day by day. But a lot of coins have been without any value. Please invest carefully and read papers!

[sorehammer]

Daily there are many ICO`s many coins are appearing.I think only those coins can survive which are developed on a proper road maps,clear vision,good quality technology,deliver product in long term,grabbing investors attention,full of well defined purpose,funds management,continuous dedicated work team behind them to sustain in market.The purpose of writing all of above is to highlight only those coins which are based on above mentioned some features rest coins which deliver nothing or hyped would automatically die.A well growing would always possesses these characteristics.Now you can decide fairly by yourself.Some coins may be having less value but they will exist for a long term some coins would be hyped so much that they may have some value but they could not sustain for a long time.

[rillater]

I see that it is a shared thought. It would be ideal if there was some way to supervise the development of a project, and that the developers could only withdraw the funds in parts as the project progresses, but of course, that is something different from the philosophy of the blockchain.

[lvincent]

Same here i'm always worrying about there's so much coins that's lacking value day by day altcoins is created with different platform and reasons but those coins don't have the potential all of them are made from innovation just to create something that's much better than bitcoin.

[sazon84]

I agree that many coins have no value.  But at the moment there is one problem in society: financial ignorance.  And to a greater extent, it concerns cryptocurrency.  Many people do not want to understand the essence of the project but go where they will be called through the referral system.  And this is used by many creators of the pyramids.

[richaerich]

I don't think there are too many altcoins without value,
there are still so many altcoins that have a great value in the market and the exchange,
i'm not worried about that, even there are opportunities for us to choose whice altcoins that we can invest on

[jyotianand01]

Agree with you that there are too many ICO's coming to the market with their altcoins but only active developers with solid projects will survive in long run and it is very difficult to find a coin with long term business. Many altcoins which comes in last year prove them and established and we have to focus on them and wait for the new coins to prove their value.

[scaledem]

Yes its because most of them are utility token or doesnt have a working product.

[Spazzer]

There is way too many altcoins in the market. I know the discussion is split when it comes to NEO and the high requirements for starting an ICO contract is smart. As of this post it requires $19,220 USD to start an NEO altcoin for the contract. This keeps the 'non-serious' people out of the market which I think Ethereum has a major problem with $8 ICO contract fee.

I would like to see a small amount of regulation around new ICOs to protect consumers, but with that comes its own inherit problems. I agree with some of the other comments in this thread. 2018-2019 we will see a lot of small, medium and even high altcoin market caps burst. This will be a good thing though for the ecosystem in the long term.

[LancelotRay]

There are definitely too many shitcoins and memecoins we could do without.

People just love hyping a gimmick and a meme, enough is enough.

[Direwolve735]

The situation around crypto-currencies resembles "Dutch disease". Altcoin do not cost anything until society agrees on its cost. Many projects that appear every day are just uninteresting to the consumer, since they can not offer anything new, exclusive and necessary for the user.  The society with its interest creates the cost of Altcoins, in contrast, for example, from gold, which has value regardless of the interest to it from investors. That`s why there are too many Altcoins without value - people are not interested in them.