Too many Altcoins without value?

[Agent99]

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.

there are too many car company and also televesion or bicycle production company. are all of them success? there too many coins too, but some of them will be success.

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[andthereyou]

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.

Are you reffering to airdrops coins/tokens? or the shitcoins that have $$ values and even in the top of CMC?

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.

You have a point that many are selling dreams and not a working product. Anyway it depends on the team. Some ICO have already a working product and they need fund for further development.

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.

Many are claiming that their coin will replace bitcoin. But still could not dethrone bitcoin.
The best candidate to replace bitcoin is ethereum with a 50% chance if success in my own opinion.

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?

NO one will work for free nowadays. Also someone or the team need money for expenses like food, marketing, and etc.

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.

If you  read the whitepaper you will find How that coin will "respond to a real need for the exchange of goods and services ". but Sometimes they become shitcoins with $$ value because few people  are using it.
It's natural for investors to buy low sell high.
Do you invest for the purpose to lose your money?

[Agaton]

Many different kinds of altcoins today are born, they are actually created by generous people which the purpose is to introduce into the market, however the problem is only less people or customers who wants to adopt, that's why it affects their total growth and mostly some coins will disappear.

[SGToken]

I would pass any ICO or altcoins which couldn't afford some basic marketing. I won't mind miss a gem because of this principal. There are just too many altcoins out there.

[Man21]

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..

How we can prevent shitcoin appear in ico? I dont get any tips for that to prevent that shitcoin.
I hope any P2P regulation which will work fair and all the shitcoin coin will disappear or can not pass this regulation.

[lil_jb]

I totally agree , but that’s what separates the crypto market from the rest.

[xianbits]

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.

This is happening also not just in cryptoworld. There are those business start-ups that are selling (but I guess"sharing" is the best word) their idea in order to raise funds for them to use in realizing those ideas into a tangible one. The potential of the idea may correspond to how much funds can be raised. I think that should how a certain business start esp those who don't have funds from the very beginning. Not really different in cryptoworld, right?

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,

I can't disagree on this. But personally, I can see some really good projects that could somehow be useful in the future especially in fintech industries. We just need to give them time to do what they have promised in their roadmaps though I am aware that until now, there is no or only very few out of thousands of projects that has fulfilled their promises and is now in a full-swing.

[idgaf007]

Yes because there are almost a dozen of coins created on a day to day basis with so many ideas and innovations being put out to the world that our focus is divided into a million times and only time will tell what the real value would be. Some coins are valued on hype and some coins are valued with it's technology. As an investor it is a good idea to identify what will make it in the long run and would someday be used in general.

[ichanjay]

It can't be helped. Almost everyday there's a new listed coin. And most of them are shitcoins. Just collecting fund for themselves

[feelideb]

I must commend your perspective to coin creation and it's economic relevance. Having said all that you said, there is still need for coin to be created first before any community can be built around such coin. It is indeed clear that not all the coin are going to survive or useful but some will become the game changer nevertheless in the future.

[Spaffin]

Of course, tokens are now quite a lot. Many of them are really empty and have no value. However, I do not think that this is a problem for society. Unnecessary tokens will be swept away by the market. If we want to develop a crypto currency without centralized regulation, we must allow any tokens to appear, both necessary and useless. There is no other way to fully develop the crypto currency.

[#CapsLOck]

Of course, tokens are now quite a lot. Many of them are really empty and have no value. However, I do not think that this is a problem for society. Unnecessary tokens will be swept away by the market. If we want to develop a crypto currency without centralized regulation, we must allow any tokens to appear, both necessary and useless. There is no other way to fully develop the crypto currency.

In that proportion, I agree because that's the only way we can solve the neccesary problem of token does not have value we must let them open so that it will eventually help also the crypto world.

[#CapsLOck]

Of course, tokens are now quite a lot. Many of them are really empty and have no value. However, I do not think that this is a problem for society. Unnecessary tokens will be swept away by the market. If we want to develop a crypto currency without centralized regulation, we must allow any tokens to appear, both necessary and useless. There is no other way to fully develop the crypto currency.

In that proportion, I agree because that's the only way we can solve the neccesary problem of token does not have value we must let them open so that it will eventually help also the crypto world.

[papa-tata]

it's true that a lot of Alt coins are on the market but some of them are worthless, this makes the Alt coin look of no value, ICO makes new coins every day but no one really makes the coin prestige. this is very worrying for some buyers or investing in the coins because it makes the value of Alt coins as garbage.

[Canoppo99]

Usually those tokens are only can be used on those developers startups platform. But when the business is bankrupt or the devs don't use that token any more then there is no value in those token except there are people who want to but that token.

[bayu7adi]

this is what makes me anxious
crypto assets that do not have a price and can not be sold is very detrimental to the user
should, a team and developer should be able to form a community first, which serves as the first consumer
so, the community can also help rebranding related coins

[bigdude]

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.

Total agreed with you. Many of them just only offer paper ideas to the world without the real things or real adoption. All of that should be perfect ideas but the real never work simple like their little group ideas.
That's why some of Gov and many person worry about it and make a WARN to all investors. but funny that make market shake. But we will need all of that action to bring ICO similar trust place like IPO

[Bugsbey]

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.

It is really scary to invest if you are not so familiar with what you are investing. It is better to make sure that the altcoin is valuable and is used widely by the community. Because some new coins might be easily lost its value or has no value at all.

[klixion]

An altcoin has value when people buy it.  If there are no buy orders, it won't be worth anything.  Same with projects that aren't on an exchange, they won't have any official value.  You can do private trades with someone but that doesn't mean it's the real value that people would pay when it's on an exchange.

[Fantina]

currency without value is a kind of Klondike for investors because if you study the project correctly, you can make good money by buying them on the bottom