Crypto market is drowning from tokens.

[Aveatrex]

As we can see, there are lots of coins that are being offered in the market every single day. Does every single coins that are in the market really usable in our daily lives? According to Bitcoin.com, the enormous number of tokens existing in the market is currently bringing confusion to the investors. For example, they wanted to invest their money in Quarkchain, but bought the Quark instead. Which is a totally different coin. I know that it is probably the fault of the investors for not double checking the coin, but too much coins in the market also plays a big factor.

Are there any solutions about this problem that we, the users in this forum, can do?

Tokens are becoming a real problem especially ERC20 tokens they are easily made and nowadays companies just create tokens without any project behind or an inexistent project and make an airdrop/bounty for it so they bring more attention to it.Now it becomes hard to pick good tokens or ICOs especially for new investors which makes it bad if you just take a look at etherdelta or forkdelta you can see that 90% of the tokens are bad and worthless.

[tomahawk9]

This is an unregulated market, there's nothing we can do about it. And instead of looking for solutions to this "issue", we should let the market decide whether those shitcoins/tokens survive or not...but I'm pretty sure that more than 95% of those new coins/tokens showing up everyday will most likely dissapear in the long run.

As we can see, there are lots of coins that are being offered in the market every single day. Does every single coins that are in the market really usable in our daily lives?

Let's be honest, most of the people in this market are not looking for a coin/token with a real world use case, no one cares about that anymore, people are more interested in making money with cryptocurrencies.

[novita_gendut]

As we can see, there are lots of coins that are being offered in the market every single day. Does every single coins that are in the market really usable in our daily lives? According to Bitcoin.com, the enormous number of tokens existing in the market is currently bringing confusion to the investors. For example, they wanted to invest their money in Quarkchain, but bought the Quark instead. Which is a totally different coin. I know that it is probably the fault of the investors for not double checking the coin, but too much coins in the market also plays a big factor.

Are there any solutions about this problem that we, the users in this forum, can do?

The point is that people see that they are able to create value out of nothing by simply writing the software which is why you have many premine coins now. Because developers are doing everything to promote the coin and get money get rich and buy lambo tomorrow. Because of this noise it is hard for projects with potential to break through and simply push the crowd and get recognized. Not to talk about ico's that are simply raising money because they can and raising more than they need. So you see we are headed off the path and something has to hit the market to drawn all the bad projects.

the possibility is so because what I see with the current crypto market decline token prices is increasing and so very difficult to push a good project to get his rights because they also do everything to earn money and with this, in the end, the market declines and token prices are expensive

[Altf4]

Crypto market now is drowning from tokens , because there are so many ICO projects that are successful in their launching and their tokens are no other way to go but to the different trading sites and markets that receive the tokens that is why , the crypto market now is drowning with many ICO tokens.

[elemosho.crypto]

In order to choose the best coin you have to analyze the ICOs with proper calculation. So to achieve the analyzing power, I think, we have to learn more and more about the power tools. It will surely help us to judge or evaluate the project and will reflect the success possibility in future.

[@baoli]

You reminded me when I was looking for hydro platform and bump into hydrocoin. The confusion is stiff, but the seed will always be sieved from the shaft. Good projects will always remain be careful where you invest.

[TGD]

As we can see, there are lots of coins that are being offered in the market every single day. Does every single coins that are in the market really usable in our daily lives? According to Bitcoin.com, the enormous number of tokens existing in the market is currently bringing confusion to the investors. For example, they wanted to invest their money in Quarkchain, but bought the Quark instead. Which is a totally different coin. I know that it is probably the fault of the investors for not double checking the coin, but too much coins in the market also plays a big factor.

Are there any solutions about this problem that we, the users in this forum, can do?

Yes beacuase investors will be devided in many coin /token and it will ending up more of them will be useless in the future and means it will be lost to every investors invested in many altcoin.

[setyanis]

In my opinion, when someone wants to invest your money in crypto, he needs to check carefully what he is going to do. for example the thing that can be done so that no one chose the crypto in question is to open the crypto website you want to buy, every crypto website must inform the details of the crypto clearly. so this can minimize the error.

[dzelenyanskiy]

Nothing really we can do about it, people want to create tokens...let them...whether or not it will have any value or not is up to the market.

I think there should be some kind of naming standard or ticker registrar, something to keep someone from buying something they don't want to buy. For example the bitconnect (BCC) vs Bitcoin cash (also BCC) was confusing for a lot of people. GBX (gobyte) has another issue with some gibraltor exchange token (also GBX).

But at the end of the day its up to the investor to do their research.

GBX is also the name of the token in the Globitex project (a new exchange).Yes, with this they need to do something, for example make it impossible for the existence of tokens in the market with the same name!

[muratdur]

 I had the same funniest situation with Morpheus Network and Morpheus Labs, which are obviously the different projects

[cdoyle14]

 yeah they're good advice in this case would be to look on the address of each token you want to buy right now and see

[haroldtee]

bringing confusion to the investors.
...
Are there any solutions about this problem that we, the users in this forum, can do?

I understand your plight and how the whole space is polluted with shit coins and that is what should normally be expected from an unregulated and decentralized market which I believe any smart investor would have taken time to realize before even coming into the space, let alone getting confused like you have said. So, if anyone is getting confused, it is because they want to be confused since you said it yourself, they could have cross checked.

However, the only solution to the problem is regulation, whether we like it or not, and the fact that we have made it so obvious that an unregulated space would not work without some caliber of people ending up polluting and bringing the negative side of it. Exchanges also have a whole lot to play as well when it comes to listing coins, but it seems they are all just after the listing fee rather than the potential of the projects or coins.

For the users in the forum, we have nothing to do that to just stay active, stop promoting shit coins and be very careful of what we invest in. Asides that, nothing else!

[eaglewhite80]

Welcome to the world of decentralization bro where nothing is regulated. That is the only solution as far as I am concerned. It does not stop the coins or the space from being decentralized, but if the activities are controlled, from ICO to what exchanges should be accepting on their platform and the implications of coming up with shit coins or helping one into the space, then I am sure a lot of things would change.

[freedoom]

So what can we do? We can not affect coins
Yes, there are a lot of coins on the market, and not all will remain
Just need to be more careful when you want to invest in some kind of coin

[Zlatna Kopa4ka]

Of course not every coin in the market is going to be useful to us, the investors, or to anything else. We all see the coins that are in the markets and I hope that like me, you guys also know that the majority of those coins are frauds, only there to take your money, basically money laundering. Always double check into what and where you are investing your money. Also the crypto market is far from drowning, these coins come and go, the legit ones are on the top consistently, bringing a value and use to us.

[chrismartin]

This is true statement mate, all of them have been listing and eventually and suddenly will be dump because of many sellers. They making those many projects to solve those problem in our technology but the reality is that they dont give any solutions to their own projects.

[goffbar]

Yes, too much Coin it's also doesn't good for cryptocurrency. It's just make new coin hard to become success because of many coin. I think the next few years, maybe new altcoin will not be popular and will not be hype like now. In addition SCAM ICO also worsen the situation.

[altcoin4u]

 that's why I believe that being careful is one of the most important things in crypto market along with patience and nan greed

[altcoin4u]

 as for me I loved one particular coin that called SPX from the Sp8de project, right now it is very cheap but it seems to have a good future

[armlock]

that's why I believe that being careful is one of the most important things in crypto market along with patience and nan greed

agree, do not be greedy again. I lost a lot of money on it and remembered the basic rule - fix a profit part always so that it would not be insulting in the event of a price drop!