Is the large variety of Altcoins hurting the market?

[adzino]

It doesn't actually affect/matter much in the long run. Even though if there are thousands of altcoin in the market, people will only invest on the coins that are well know and has credibility. They won't be risking themselves by investing on new altcoins that has no potential. Those other altcoins will eventually die and new ones will popup and will just get the attention of extremely small crowd of people that will have negligible affect on the market. Just look at the trade volumes and you will understand what I am saying.

[high110]

  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? 

Of course. Due to the fact that there are a lot of altcoins on the market, all the means of the cryptocurrency market are distributed among all the altcoins. This negatively affects the capitalization of many good projects. Also, some teams are scammers. Such projects erode the means of the market even more.

[Marvell1]

  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? 

The only thing I understand for sure, that if we have only 50 altcoins on the market there won't be so high volatility at each of them due to large market caps. The higher capitalization asset has the lower momentum of the price is.

[khufuking]

The variety is needed especially if the coin/token in question is useful and contributing to Crypto world, I don't worry about all the other shitty coins/tokens because they are like a dot in a sea look at their volume they are nothing and I don't think they are stealing abut real % from big coins. We can actually say that the number of paused and extended ICO is the real thing hurting the market because they are representing locked money that is not moving and not creating any contribution to the Crypto space.

[Rockkey]

A large variety of coins is not good and it is not bad, in my opinion this is a necessary and only condition under which the principle of reasonable competition between projects will be observed which will lead to the fact that the strongest will survive. Over time, still most of all the many of these projects will die.

[Xising]

  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!

I would say before it maybe is a bad thing, but now, I am not so sure anymore. There are so many altcoins in the market that getting a niche is hard enough to gain, especially with how everybody is acting up and strategizing in what they do with their coins. For newer coins these days, it's even harder to actually prosper because of the reality that the established ones have already gotten the heart and interest of most coins and building one's trust in a coin is quite difficult to get these days. So, I don't think adding more altcoins would not do much good. It may only have an effect until such time it shows a light or chance to make it big.

[Emilyp]

It may be hurting crypto since the crypto capitalisation is spread among the thousand coins in the market. if they were to be few, more attention would be given to the market.

[Distinctin]

It may be hurting crypto since the crypto capitalisation is spread among the thousand coins in the market. if they were to be few, more attention would be given to the market.

We are a growing market and we can expect huge competition among crypto coins. In this way, many were seems to be losing its capability as some will win the race. They are not hurting the market anyway, but only those scammers are ruining the image of crypto as well as its prices.
Scamming is rampant for now and we can only stop this if we could apprehend them early before they'll find victims.

[mickey_miner]

  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 think it does not matter how many altcoins are on the market, if they are not in demand, the price will not rise.

[labilaab]

A number of scam alts if being summed is a big impact to the crypto world already since they can affect the viewpoint of newbies in crypto. If many investors got discourage investing just because of them then there will be slow adoption in cryptocurrency and blockchain usage.

[bartolo]

  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.  

A few years ago there were less than 50 coins and these coins were less valuable than they are now. If there are so many coins now it's because the interest in crypto has grown, it's normal. The quantity of coins is not a problem, scam coins are.

[jackflag]

A number of scam alts if being summed is a big impact to the crypto world already since they can affect the viewpoint of newbies in crypto. If many investors got discourage investing just because of them then there will be slow adoption in cryptocurrency and blockchain usage.

Also, the amount of Altcoin will affect the market by adding more liquidity to Bitcoin and Ethereum. These 2 coins have a competitive advantage thanks to many Altcoins.

[bgpsq]

Well but look at it this way. The more projects, the more ideas of how cryptocurrencies can be used, the more attention. Then you realize the wide  use of blockchain and tokens. 

[BQ]

  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!

well not entirely correct is it, if you remove all these shitcoins it doesn't mean all the money would go into another crypto!
many of the cryptos and icos has received money from outside-crypto sphere investors.

to reply on topic, it does make the market a bit  "embarassing", in reality, a few coins alone make the majority of coins redundant.
the next bullrun will bring a few coins up to the top and remove the vast majority of these other ones.

i disagree with you 100 precent. you dont know what ur talking about

care to specify something?
the vast majority of coins are tokens, and the vast majority of tokens never will/doesn't do anything that can't already be done.
do you think all these coins serve a purpose? were you shilled some shitcoin that you believe will be the next big thing?
there's a reason BTC was the first big thing, ETH the second, ..
what does all the other coins bring to the table? 99% = nothing that Can Not already be done with btc/eth.

[libert19]

People have more choices, so that's a good thing but many of them are scam and when one gets scammed they curse the market and leave, that could be a bad thing though.

[ronwewee]

  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? 

Actually we can't do something about it but to wait some big project to urge market and investors in investing and making the market in a good condition again, still we can believe on the future of cryptos.

[nlaara12]

The numbrr of coin released to the market is not actually the problem here but the fact that most of those coin are fake project and that has turn crypto sphere to an atmosphere of scammers, that is really affecting the market.

[Ucy]

I doubt this. It is more like asking if the large variety of companies in United States is hurting the country's economy.

The only thing that may likely hurt are projects without good ideas or projects lacking in continuous development or improvement of their products.

[farlack]

How can it hurt to market? Yeah, shit coins are worthless, but it is a positive trend seeing more attempts to create new blockchain and improve existent technology

[passwordnow]

In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

I think its bad for the whole crypto market. If we are only supporting one to ten crypto, think of it on how much the whole market cap is. But it's also good for the market at the same time as it gives choice for the people on what kind of crypto they want. Another bad thing is it gives a lot of scam project in the market, those scammers are just keep on creating projects and tokens and gullible investors believe that those projects are certain with their proposal but in the end they just scam.