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Author Topic: So many cryptocurrencies !  (Read 6166 times)
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May 28, 2018, 08:30:36 PM
 #61

Yes, this is true, there are literally too many of these coins and most of them are made as poor efforts to scam people while others are only for testing or for practice that has led to lots of losses being experienced by the newbie investors. But I think that regulation will really come because I believe that without regulation, we will never achieve mass adoption and mass support from the governments.
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May 28, 2018, 08:32:47 PM
 #62

So for me it does not take the rules for new coins or projects, everyone will be smarter to decide their best coins to be the top of all coins, there will be losses and coin successes popping up, investors chasing new coins looking for profit for a moment because prices are still volatile but when saturated they will buy back the best coins from their profits, then it's okay when a lot of coins are coming because everyone is also looking for a profit for their living expenses.

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May 28, 2018, 08:50:34 PM
 #63

Yes, there are many crypto currencies now but as for me the choice is really obvious. I think that Bitcoin and maybe Ether as well are worth choosing. To my mind, they are the best options to give preference to as they are more reliable

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May 28, 2018, 08:59:00 PM
 #64

It is good to keep a check to keep the market safe from the fraud and from scammers. But there are many different coins which are created for a special purpose as the Rasputin Coin (ROC Coin) is created for to distribute the income of the Rasputin to the coin holders/investors. That job is not performed by other coin for them. With this it is obvious that we cannot restrict the quantity of these coin. While it is good to keep a check to filter out the scammers.
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May 28, 2018, 09:00:42 PM
 #65

Having so many cryptocurrencies doesn't mean that it is alarming. We should think this as an another opportunities for us to discover the newly created cryptos. It also can't be avoided that some only create to scam people due to the fact that it has no regulation. This is why we have to be vigilant when choosing an ICO.
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May 28, 2018, 09:07:14 PM
 #66

Having so many cryptocurrencies doesn't mean that it is alarming. We should think this as an another opportunities for us to discover the newly created cryptos. It also can't be avoided that some only create to scam people due to the fact that it has no regulation. This is why we have to be vigilant when choosing an ICO.

That’s true there is no regulation yet regarding on creating new coins so people should be careful on investing their money because some coins is just meant to scam people. Competition in cryptomarket is going to be more high this year and only those good coins can survive in the long run.
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May 28, 2018, 09:16:47 PM
 #67

When we consider the year 2018, there are numerous cryptocurrency exchange platforms that are working actively. One major problem most people are facing is the ability to choose which one is fraud free. This makes the public have some level of anxiety within them since most of the platforms are fraud. To me, one way that can be taken to decrease the rate of fraud pertaining to cryptocurrency market is to set some laid down rules and regulations to be abide by. The issue of fraud will be minimized if every cryptocurrency market follows the roadmap. 
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May 28, 2018, 09:26:55 PM
 #68

Having so many cryptocurrencies doesn't mean that it is alarming. We should think this as an another opportunities for us to discover the newly created cryptos. It also can't be avoided that some only create to scam people due to the fact that it has no regulation. This is why we have to be vigilant when choosing an ICO.
Being vigilant is not so hard especially when you see the team members attending any blockchain events, but the hardest part of joining an ICO is how successful will they be in the long run.

There are many cryptos out there that are winning then getting dumped after sometime.

When we consider the year 2018, there are numerous cryptocurrency exchange platforms that are working actively. One major problem most people are facing is the ability to choose which one is fraud free. This makes the public have some level of anxiety within them since most of the platforms are fraud. To me, one way that can be taken to decrease the rate of fraud pertaining to cryptocurrency market is to set some laid down rules and regulations to be abide by. The issue of fraud will be minimized if every cryptocurrency market follows the roadmap. 
It's true that we need regulations, it will not only stop fraud ICOs but can also attract more investors.

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May 28, 2018, 09:38:58 PM
 #69

The market will put everything in its place. Weak cryptoexchanges will not withstand competition and leave the market. To useless cryptocurrencies, people will lose interest and forget about them.

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May 28, 2018, 10:33:13 PM
 #70

I think it's impossible to regulate all of them. Maybe it would be possible to create a department to file projects so that they could get a "stamp of approval". Investors could turn to those if they wanted to, but this could of course end up killing some good projects out there.

I agree with you, the market is completely saturated, but I guess that those things will get solved by default. It's like the .com bubble. The bad companies simply stopped growing, and only a small few survived. The same will probably happen to crypto, because people will simply stop investing and buying tokens that they don't know that well. Right now, we still see a lot of people just buying a token because it's something new, and they hope they will get on the "next bitcoin", expecting to see their profits going through the roof without having to do a thing.

People buy into crypto like if they were buying into a lottery ticket right now, but that will eventually end.
I think in the presence of so many crypto currencies, you can escape a fraud only if you are educated enough and know the basic things about the technology and can point out a genuine spot to keep the vehicle running. This actually happens in the start when a fresh man enters the market and does not know all the things about it, he often losses some money but reappears again with perfect information and try to avoid the scams and frauds and moves on. 

 
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May 28, 2018, 11:10:42 PM
 #71

The cryptocurrency is worth modest investment, but more attention should be paid to the underlying blockchain technology
Unless cryptocurrencies such as Bitcoin can be supervised, cryptocurrencies will never replace existing currencies. The management of cryptocurrencies will become increasingly stricter and more sophisticated.
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May 29, 2018, 01:25:39 AM
 #72

There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?

In my own opinion, having so many cryptocurrency in the market is just fine because it only means that the market is keep on growing and we can expect that bitcoins will live for a very long time in our new era of technology.
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May 29, 2018, 01:43:08 AM
 #73

There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?
i feel that someday many shit coin will be burn . i wish so that it will reduce some Clog in Ethereum Blockchain .
and if the Price are regulated i think many coins willbe Constant or Stable which mean it is hard to invest on that coin.
it is not bad if many cryptocurrency are spreading because some ICO uses their Sold tokens for Good purpose ..

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May 29, 2018, 02:23:47 AM
 #74

The majority of these shit coins are listed only on one exchange and hardly have a daily volume of more than one bitcoin. Going by rough estimate, only 500/1634 are actually what people consider investing into. You can check the ranking and daily volume on coinmarketcap. Ironically, these shit coins are listed on shit exchanges which hardly anyone uses.
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May 29, 2018, 02:36:12 AM
 #75



Don't you thin if there is an organization or a body that will only regulate few will make the cryptocurrencies as centralized which most of the users here are against at? they even despise XRP for it being a centralize token, what more could it be, they might despise even bitcoin in that case. I think there is nothing else to fix in this current situation, its all there is. All are free to create their own token and list on exchange which ever exchange it is. It all just depend ot the user who invest to it while not researching what they are going into.

 
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May 29, 2018, 02:44:15 AM
 #76

There are so many cryptocurrencies so as the opportunities. We should be thankful that there is a lot of cryptocurrencies to choose from because it is like having a lot of opportunities in life that we can grab and we can make profit so if i were you, i will work hard and keep grabbing the good cryptocurrencies in the market because there is so many!
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May 29, 2018, 03:03:21 AM
 #77

The proliferation of cryptos and the attending increase of cryptocurrency exchanges go a long way to show that the crypto industry has come to stay. For those who fret, it's time to stop fretting. The market isn't going anywhere. Invest and exercise patience to reap the dividends of your investment.

Now, about the different number of cryptos getting listed, I like to say it's ok. What the heck! Don't we havev a great number of companies getting on the stock exchange annually? OP, have you heard that adage, "The more the merrier?" So should it be in cryptos too.

There is a lot of Crypto listed on the treed, some are posted with undetermined fundamentals, and a lot more possible issue which may affect the level of acceptance on the said ICO listing of new coin as posted, support system is also need to be clear on the said coin, with out it, i just wonder about the future of the said coin in the crypto trading market. Any ICO listing has to have good fundamentals, stable support system, and market acceptability by the business community or crypto investor.

 
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May 29, 2018, 03:14:13 AM
 #78

in my opinion, amount if cryptocurrency has direct effect to main cryptocurrency price such as bitcoin and ethereum.shit project that have unclear roadmap is risky selling out their eth or balance that collected from ico.so this is one of reason that could make bitcoin and ethereum goes down.
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May 29, 2018, 03:20:59 AM
 #79

I think the encryption market needs to be managed, otherwise the endless ICO projects will only have more frauds.

There must be some sort of global crypto-currency body that approves or rejects the new altcoins.

Because regulated markets attract more investors.
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May 29, 2018, 05:25:03 AM
 #80

in my opinion, amount if cryptocurrency has direct effect to main cryptocurrency price such as bitcoin and ethereum.shit project that have unclear roadmap is risky selling out their eth or balance that collected from ico.so this is one of reason that could make bitcoin and ethereum goes down.

I don't think so. People are becoming a bit more intelligent right now in choosing which coin is shit or not. Simple research would teach you how to generally distinguish one from the other. So I don't think these shitties will have an effect on the value of major coins like btc and eth. This just gives people more options but with double the effort.

 
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