Drawback of all new cryptocoins!Confusion?

[iASIC]

People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?

I think it does not affect bitcoin too much. Only the new altcoins appear but it can not occupy too much market share. Conversely, it can be bankrupt when not competing with other altcoins. Bitcoin is still the No. 1 and every activity of manipulation or adjustment is always present in Bitcoin. dont worry about that.

[Biscutard]

People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?

Most people that really been here before knows what is bitcoin and what is alternative coin, so i don't see any negative effect on bitcoin when some altcoins are scamming other people. It's their choice to select that coin and it doesn't affect the views of most traders.
I don't see any other reasons why people need to bash bitcoin when it doesn't do anything to them, it is them who approach the crypto world not bitcoin.

[Shakiraroyce]

I think you should just let the market decide overtime. It will be right. Just give these new coins time and most of them will fail, people will realise that not every new coin is good and will be more picky to choose only good projects. Wrong thing would be to now do some sort of a censorship and cut-off scams or bad coins. They will die on their own. And people can only learn from their own mistakes (and unfortunately lose some money along the way).

[squatter]

More coins is actually a good thing because it creates competition and helps bitcoin improve on its features.  Can there be too many companies? Can there be too many restaurants? In the end it will be survival of the fittest and consumers will choose what coin they like to use. 

Bitcoin doesn't really compete with altcoins. In fact, I think the relationship is quite symbiotic.

You'll notice that any time Bitcoin crashes, altcoins crash harder. This is because market confidence in Bitcoin is of fundamental importance for altcoins. Bitcoin's reliability is a boon for alts; it's what encourages people to take risks in the altcoin market. If the market lost all faith in Bitcoin, altcoins would surely follow.

At the same time, the existence of altcoin markets draws BTC supply to the altcoin markets (rather than BTC/fiat markets). By lowering available supply on the BTC/fiat markets, the price of BTC is driven higher. This is why altcoins are generally good for Bitcoin.

[Sadlife]

A new crypto currency turning into a scam or a shitcoin from the very start is not bitcoins fault. In fact it is the investor who is to blame that's its highly recommend that people should start be responsible and start researching before investing to not waste money.

[kidsrock]

People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?

I think new people don't need to afraid of the bitcoin negative propaganda and I hope that they can search by themselves to find the truth. I think if they can learn and find something by comparing with the other news, they can find the real news, so they don't have to afraid or worry. In the cryptocurrency, we have to see this is happening over and over and without learning more about cryptocurrency, we only get panic without any chance to make a profit in the cryptocurrency.

[Globalbitcoinl]

most often, new cryptocurrencies do not solve any problems and are doomed to failure, so I suggest not to pay attention to them

[Shatterlean22]

Many of those new coins are just bad projects that will surely not survive and they will eventually die off but the existence of this bad coins is what will make newbies learn and know more if a project is good or bad,that's why we must do some mistakes just to achieve more knowledge.

[monster2]

Many of those new coins are just bad projects that will surely not survive and they will eventually die off but the existence of this bad coins is what will make newbies learn and know more if a project is good or bad,that's why we must do some mistakes just to achieve more knowledge.

This new coin's also not same to bitcoin or other altcoins you may now.
Their are such cryptocoins have no potential if they take a long-term trading once the project goes wrong.

[Reid]

The creation of new tokens have been exaggerated by now.
Looks like everyone wants to be rich in just a manner of time leading to make an ICO and try to make profits out of it.

It has one more problem. There is no filter with it. Another is, instead of buying bitcoin they tend to go to the cheaper ones and look at it as if it could get a value which is the same as bitcoin which will never happen.

You are also right about the confusion. I remember a lot of new buyers who have bought BCH instead of BTC. The lack of knowledge made them bought the wrong coin.

[jorgelugra]

It doesn't matter for me because i like btc and ether only, i don't think that some other new coins will appear and they will be better and more powerful than bt, which is the leader of the market for long

[Teawhalee]

I have taken note of this and found out to be true. I just realized there are so many scams and unfilled project based on his thoughts, experience and the likes. I believe there will be change of phase and behaviour. Crypto is the only way.  Love it.

[vicvicto17]

Cryptocurrency is the future- Bitcoin is always the king and mother of all alts those who said that altcoins will defeat bitcoin then that's really a crap message. Bitcoin protocol has more anonymous than any other cryptocurrency- satoshi is a very smart person that's why we have this cryptos in our stages.

[xfaqs01]

everyone do not confuse yourself, no mattet how many alternative coins out there it nothing with bitcoin, you just cant compare bitcoin to them its the  king of all coin, yes there can be one coin that is better than btc but still the trust that people on it cant be shattered. it more like an asset that everyone wants to hold because of scarcity

[Burogh]

I think bitcoin price dont get a effect from many different crypto in market. Maybe on bitcoin dominant decrease but not with the price. Many new project will makes market more attractive and i am believe many investor attracted on this

[aad140386]

I see a problem in that most of the ICO projects simply create useless products or create nothing at all in the end. ICO is the easiest way to raise money from people and not burden yourself with any obligations. I see the need only for those ICOs who are implementing blockchain in the industry, logistics and other real sectors of the economy. These are really necessary projects that will help people and will be in demand.

[dablatair]

Hello,

Yes I think that it is not good to have too much crypto that pop everyday. It just give confusion, dilute the interest and when a lot of them fail it give a bad signal that erode trust in cryptos.

General acceptance is needed, but it will come from the serious project that give real new improvments and interest.

[tiktak89]

Now there is a huge number of different coins. But absolutely not all of them are promising. In addition, there are a lot of fraudulent projects that are intended only for pumping money from gullible investors.

[Pyr3x]

You're right, with new altcoins and different ICO's you have to be very careful. Unfortunately, we live in a world where people like to get easy money and invent all sorts of fraudulent fraud. Therefore, always be careful if you decide to invest in a new coin.

[Udrujec]

I perfectly understand your experiences, because I am constantly faced with different Scam. It's a shame to invest in some seemingly successful and promising project, which actually turns out to be a Scam. You have to be very careful and cautious.