Is the large variety of Altcoins hurting the market?

[Omela44]

If the variety of altcoins were really useful and different, it would certainly be good for the market. But many coins are just clone coins and made to make the dev team rich. This is certainly not good for any serious project, be it bitcoin or a altcoin.

[Script3d]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

And what is the benefits of having the crypto more valuable? it would be still the same with more coins or without, if there's only 50 coins i wonder how much the trading volume would be, It depends on the altcoin if it's trash then it's bad for crypto, if it's good then it's good for crypto.

[lapyshka]

You are not satisfied with the price of coins in the market. But I do not think that this is such a great harm from altcoins. Investors can choose which coins to invest in. In the top 50 or in young unknown projects. Therefore, it is not at all necessary if there are only 100 coins left on the market, then their price will increase significantly. Because the investor can invest not only in the crypto currency.

[Imoote]

Variations on altcoins are just an option, if a coin is not much interested, after a long time it will be destroyed or lost in the market, from which we can see which of the many altcoins that people like, so there are no problems with variations altcoin.

[profitgenerator212]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

Sure. And that's all I'm looking forward to, I've been thinking that we should move the investment from shitcoin and focus on investing in altcoin top. Altcoin's price will increase rapidly and many people will pay attention to cryptocurrency. The market will be better and not collapse like now

[davinchi]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

It doesn't work like that precisely, maybe a bit but not as a whole. If there were 50 coins all of this money combined going to 50 coins wouldn't be reality, some money just goes directly to those coins so if you look at those low volume coins and just delete them and tell people to just invest into top 50 coins they might just withdraw their money and leave. Hence all these altcoins bring in some money with themselves.

If we did that top 50 coins only thing would the marketcap of that top 50 coin would increase ? Sure, it would be the global total market cap of all coins would be less than what it is today. Hence why we have a lot of altcoins that gives us the option to invest into anything we want to. If you want to invest into the most silliest coin out there than you can do that (like doge or garlic) and you would even take it seriously and use that to do whatever you want.

[nizamcc]

Of course, a large number of coins is an important factor without which the cryptocurrency market would be even more dynamic. Now we have a market economy and developers compete for the quality of the product.

[Red-Apple]

they are hurting the market but not in the way you think. in other words if there were only 50 altcoins their value would still be the same as it is today because people aren't willing to invest more than they have already in any of them so it wouldn't make a difference.

their damage is a different one. the simplest one that everyone knows is that they have turned the altcoin market into a shitshow that only pumpers are interested in and the real investors have long gone away.

[gwaposakon]

I think the increased number of coins in the market create a good and bad effect on the crypto industry. Bad, because it creates confusion and most of these coins just disappear giving bad impression to the market and affecting also the reputation of other good coins. Good in the sense that the creation of these altcoins and their platform boost the development of the technology.

[LeetPoolsOP]

when regulation of the market comes then a lot of coins will disappear and this thing which you are talking about will happen. the whole capitalization will split into basic 50-100 coins

[0t3p0t]

no, it doesn't work that way.

the only thing that is hurting the market is the altcoin market itself. more precisely, it is about the fact that 99% of the altcoins are completely useless. which is why they don't have any future and that is exactly why the only hope for them is to be pumped and dumped and nothing more.
so the result that you see in the market is a constant decline of the values of all these coins with some temporary uprise (aka pump) and eventually death and replacement by new shitcoins.

whether there are 50 altcoins or 2500 altcoins doesn't make a difference as long as they are useless. but if they begin creating valuable coins then even if there were 10000 of them, they will all be valuable and keep rising.

I agree. We all know that most Altcoins are pretty dependent on the value of Bitcoin that is why market really hurts but sometimes shit projects with shit Altcoins may also be a disgusting part when in comes to investment as majority of these Altcoins are useless. That is why when I am looking for something good to invest I just pick and chooses top 15 Altcoins that has potential to grow.

[Bairbe]

It depends on how much the funds would be distributed, but I am absolutely sure that this affects the market!

[Yurkov]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

I agree that a greater concentration of capital on just 50 coins would make their value much higher than if the capital was divided into 1000 coins. However, the market capitalization of cryptocurrencies is still very low compared to other capital markets, so we still have a chance of huge increases of price and capitalization.

[inanilujimi]

the number of altcoins makes it easy for people to choose the altcoin they want to invest, but the problem now is that almost all of the altcoins currently available cannot be used for real-world interests.

[qiwoman2]

I would say there are pros and cons to so many altcoins. The main CON is that it dilutes a very small financial market, hence some very good projects have less capitalization than what they are truly worth. Also, another CON is that many small-cap crappy coins get easily pumped and dumped by pump groups, thus leaving many noobs and unsuspecting speculators with being left with hodling very useless bags. The RPOS are that micro investors can come and invest in many different projects that they like at a fraction of the cost of traditional investing and on the blockchain everything is so much easier to do. Also a PRO, in this case, is that anyone with a true vision can come and open a project, tokenize it and make their dream a reality. If the project is good, it can bring employment to many people remotely which means more people can get jobs.

[Sebas.tian]

For now, having many alts in the market effects it negatively since money is not focused in a single point. To be exact, bitcoin's dominance was lesser now compared to last 2 years ago. Money that should've been into bitcoin is flowing to the useless once that are being used for pump and dump schemes.

[IncludeBeer]

 You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?  

Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..

NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!

NOW, imagine only 10 companies in the world, and they supplied everything needed to the people, and all 10 of them were super valuable and held all the $$!  

No, variety in crypto space is absolutely a boon. Yes, a large portion of them are shit. But that's ok. The point of permissionless and open source code is to allow people to do these things. Maturity in crypto will come. Until it's there, it's valuable to see different coins doing different things. The fact that not all of them are going to make investors rich is absolutely, completely, 100% besides the point.

[bigcash2011]

Yeah you are right as the volume gets divided it does have an impact on the value of the major coins but at the same time each project or coin is backed by its own supporters, fans and investors which would not have invested in otger projects so i think the net effect is very minor one.

[St4yInTh3D4rk]

For now, having many alts in the market effects it negatively since money is not focused in a single point. To be exact, bitcoin's dominance was lesser now compared to last 2 years ago. Money that should've been into bitcoin is flowing to the useless once that are being used for pump and dump schemes.

The dominance level is still same as before but only the total market cap of the crypto currencies were increased.Most of the coins including bitcoin were used for bump and dump to make profits,it is rarely used as payment system so we no need to blame on the crypto currencies,we son't have the people yet to accept cryptos as currency.

[kindbtc]

If we see from the broader perspective i think in the long run it is positive for the overall market as more coins are coming with more marketing campaigns and more and more people are being introduced to crypto this is helping adoption and also helping the overall growth of the crypto market.