Number of altcoins keep increasing!

[fvb]

There are many coins on the market. But there is also a tendency that in most cases these are useless tokens. There are few projects that benefit the technology as a whole. And this is sad because users suffer losses due to the fact that they have invested in the project. Which they thought would be promising, but in fact it turned out that this is another meaningless token.

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[viananda2525]

There are many coins on the market. But there is also a tendency that in most cases these are useless tokens. There are few projects that benefit the technology as a whole. And this is sad because users suffer losses due to the fact that they have invested in the project. Which they thought would be promising, but in fact it turned out that this is another meaningless token.

they didnt research deeply when decided to invest in any project, and mostly prefer project with high hype of only FOMO. Since few months ago since elon starting shiling doge, there are alot new meme  coin project want to take opportunity and earn money from   investors speculation in market. Even popular listing take part and add them in their trading list. It is so sad because there will alot traders rekted and trapped in whales games.

[cunguks]

There are many coins on the market. But there is also a tendency that in most cases these are useless tokens. There are few projects that benefit the technology as a whole. And this is sad because users suffer losses due to the fact that they have invested in the project. Which they thought would be promising, but in fact it turned out that this is another meaningless token.

they didnt research deeply when decided to invest in any project, and mostly prefer project with high hype of only FOMO. Since few months ago since elon starting shiling doge, there are alot new meme  coin project want to take opportunity and earn money from   investors speculation in market. Even popular listing take part and add them in their trading list. It is so sad because there will alot traders rekted and trapped in whales games.

you are right, too many meme coins are now present in the market. they are popular because of the growing community on social media. but it does not strengthen their market because they buy only to come out with a small profit. high hype is their goal, and supporting such a project is not long-term. That's what makes many new projects now unable to last long. after the hype they will soon be discarded.

[alevlaslo]

Interesting quality only

[Mihawk]

This thread is from a few years ago, but it still validates the idea that with each passing day more projects are being launched and the trend is to increase even more, since each one believes they have the right idea, they will certainly try to make it a reality. Whether there is any use in these projects is another story, the BTC itself struggles to be useful to people, let alone other projects, ETH and some blockchain projects serve as a bridge to other projects, but what about the others?

[Noruka]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

I am really not one of those bitcoin evangelist who says that every other coin than bitcoin is a sh*it-coin and is not needed but i think that at least 90% of those 10.772 cryptos that are listed on coinmarketcap are absolutely unnecessary and therefore also not good for the market in my opinion. If i had to guess then i would say that at least 1000-2000 meme-coins have been launched within the last 2 months. The reason for that is simple, Shiba Inu was a huge success at first and then some other meme-coins that were introduced right after that did also quite well and therefore a lot of people are tempted to create their own coin because it is not expensive.

Well, I guess all these nonsense altcoins will continue to grow as more and more people create their own projects with no value and purpose all because people adopt them and invest in them all in the hope that those new altcoins too will blow up like the ones before it and this is my worry with crypto and why are most of these coins be listed on CMC when some other more genuine projects are still not listed on CMC  that in itself is like a validation for these shitcoins.

Your question why those coins are listed and that they shouldn't be on Coinmarketcap as you imply goes back to a very important core principle of cryptocurrencies. This principle is called censorship-resistance. Should Coinmarketcap decide who gets visibility and who does not? Would you like that? I am very skeptical of your position and I know it is up to me as a user and an investor to give my vote for a coin or be neutral towards a coin that I just don't like and ignore it.

[dndfinance]

Because it is fairly easy to create coins/tokens. Besides, there is a gold rush atmosphere ... Not a financial advice.

[sapnu]

Considering the fact that you don't really need to pass any qualification to make a coin, it is not surprising anymore that there are a lot of altcoins being made. Nevertheless, for sure such coins are mostly useless cause it is quite impossible that lots of coins are existing and all of them are useful. The price movement will surely be affected if that's the case, also not everyone is fond of supporting altcoins so it is not really surprising seeing lots of dead coins or meme coins regardless of the increase in number of altcoins.

[livingfree]

Because it is fairly easy to create coins/tokens. Besides, there is a gold rush atmosphere ... Not a financial advice.

True.

The crypto rush that has a feeling of gold rush has been everywhere and those developers that creates such coins think that they'll make money, an easy money very quickly.

But as an investor, you know where to invest and what coin you should put your money.

[Tervelatuk]

I don't think it's a problem when more and more altcoins are created, it's just that the problem is how many altcoins are successful and have high prices because many altcoin projects fail and don't get support from investors or whales, so I think when you buy altcoins should be careful not to get trapped in coins that have no potential.

everyone want build their own project altough they know have no capability in crypto tecnology. money will be main reason why so many people build cryptocurrency project, this is the easiest thing to earn money by scamming beginer investors that speculate their money into new project with no qualification. Only good project will survive and get support from community.

[carlfebz2]

Because it is fairly easy to create coins/tokens. Besides, there is a gold rush atmosphere ... Not a financial advice.

True.

The crypto rush that has a feeling of gold rush has been everywhere and those developers that creates such coins think that they'll make money, an easy money very quickly.

But as an investor, you know where to invest and what coin you should put your money.

Its a must thing but there are still noobs out there who do really fall out with those scam projects or coins in the market even its already too obvious but they dont really at least know the basics of this market.

In result they do end up on losing money instead of earning and thats the only time they would really be doing their assignment.Why is it really needed to lose money first before doing some research?

We do have tons of coins in the market which choosing the best one is really hard but if you do simply stick with top #10 in the market then i can say it would be worth.

[kramchers]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

Even the number of altcoins increased in this type of business industry, it won't affect the market.
If that happens that is because there are a lot of altcoins too that are dying or already dead here in crypto space.
So for me, if this thing happened we really need to be careful in choosing coins here.

[jambul_kribo]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

Even the number of altcoins increased in this type of business industry, it won't affect the market.
If that happens that is because there are a lot of altcoins too that are dying or already dead here in crypto space.
So for me, if this thing happened we really need to be careful in choosing coins here.

actually it is have positive impact to cyptocurrency market, new community will attracted although at first moment they will lose due trapped in fake projects. but in long term, if they still survive in market someday will find project that could recover their loss and even gain profits. the first thing needed only becarefull with project have no utility or usecase.

[CaVO32]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

Even the number of altcoins increased in this type of business industry, it won't affect the market.
If that happens that is because there are a lot of altcoins too that are dying or already dead here in crypto space.
So for me, if this thing happened we really need to be careful in choosing coins here.

Only few percentage of these thousand alts has active development. Most of them are already dead and long time abandoned. So even if new alts are coming up, still few of them will survive. It is better to see new projects because we will see which of them will indeed end up realizing their objectives. There are so many industries to explore, this is why we have seen various projects. But only few of them can implement what they are talking.

[uneng]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

Even the number of altcoins increased in this type of business industry, it won't affect the market.
If that happens that is because there are a lot of altcoins too that are dying or already dead here in crypto space.
So for me, if this thing happened we really need to be careful in choosing coins here.

I think the number of altcoins affect the market somehow negatively. Most of these coins are useless and were created only for pump and dump purposes. It means investors lose money by investing on these altcoins that are largely promoted on social medias to newbies. Situations like this give a bad impression to investors who will avoid crypto market futurely, especially those people who were recently reffered to crypto universe and don't understand it with expertise.

Anyway, there is nothing to do about it, because we are in a decentralized market and each person can create their own altcoin if they wish without any obstacles.

[chanler]

It is true that nowadays many new coins are appearing in the market. it does not mean that the previous coin will be eroded because even if it is an old coin if it has good prospects then it is still worth having. Not all new coins have good prospects to invest so don't worry about that. the good coins will stay and the bad coins will disappear. That's why I said there's no need to worry about the emergence of new coins in the market. therefore it is important for us to be able to choose good coins to save so that we can get a big profit.

[isaac_clarke22]

~

Also worth mentioning that carbon copies of coins are quite common ya know.
Many of these coins are just up to for quick $$$. Not something that could last long that one can expect.
This is why many of them are gonna be just useless overnight due to dumps of investors and also of course, bounty hunters.

[Noruka]

Because it is fairly easy to create coins/tokens. Besides, there is a gold rush atmosphere ... Not a financial advice.

True.

The crypto rush that has a feeling of gold rush has been everywhere and those developers that creates such coins think that they'll make money, an easy money very quickly.

But as an investor, you know where to invest and what coin you should put your money.

Its a must thing but there are still noobs out there who do really fall out with those scam projects or coins in the market even its already too obvious but they dont really at least know the basics of this market.

In result they do end up on losing money instead of earning and thats the only time they would really be doing their assignment.Why is it really needed to lose money first before doing some research?

We do have tons of coins in the market which choosing the best one is really hard but if you do simply stick with top #10 in the market then i can say it would be worth.

I would say we have all been subject to scams in the past and the learning curve that comes with it. I made some bad decisions too and I don't feel ashamed for it. In fact it was good that it happened early, it shaped my perception what to pay attention to and today I would say I am a better investor in crypto thanks to the mistakes I made in the past.

[lixer]

This thread is from a few years ago, but it still validates the idea that with each passing day more projects are being launched and the trend is to increase even more, since each one believes they have the right idea, they will certainly try to make it a reality. Whether there is any use in these projects is another story, the BTC itself struggles to be useful to people, let alone other projects, ETH and some blockchain projects serve as a bridge to other projects, but what about the others?

Come back and check this topic in 5 years and you will be shocked. There will be even more and more coins created every single day, look at coinmarketcap and you will see that there are nearly a coin a day and probably more in most other days, and that is just coinmarketcap and I know a ton of other coins and tokens that did not get listed in coinmarketcap neither. At the end of the day if you are not listed at all that means you are not checked at all neither so I remove all of that, but even still with that cmc has so many coins, even while delisting some of them.

Long story short there will be more and more coins every year, there will be at least a thousand coins where over a thousand people invested every single year, in 5 years that means over 5 thousand projects with a million joined (overlap of course, one person can join multiple) so that is never good for us in financial sense. However this allows improvements and show us all the new stuff so that's good.

[livingfree]

Because it is fairly easy to create coins/tokens. Besides, there is a gold rush atmosphere ... Not a financial advice.

True.

The crypto rush that has a feeling of gold rush has been everywhere and those developers that creates such coins think that they'll make money, an easy money very quickly.

But as an investor, you know where to invest and what coin you should put your money.

Its a must thing but there are still noobs out there who do really fall out with those scam projects or coins in the market even its already too obvious but they dont really at least know the basics of this market.

In result they do end up on losing money instead of earning and thats the only time they would really be doing their assignment.Why is it really needed to lose money first before doing some research?

We do have tons of coins in the market which choosing the best one is really hard but if you do simply stick with top #10 in the market then i can say it would be worth.

Losing at first tries are normal.

As a newbie before, I've lost a lot of money when I've invested to things that I don't know because there's no guidance and I just learnt through the community and with experience.

But with the newbies today, if they are resourceful and asks first before committing an investment or buying the newest coins. They'll have the knowledge through the people that they've asked for.