Is the large variety of Altcoins hurting the market?

[CryptoAlphaStar]

I can understand the vast amount of information a newcomer has to digest when he sees 2000+ coins on coinmarketcap.
This is not hurting the market as much as the fact that most of them are trash and people are getting burned and disappointed.

[kingpin4321]

I think the OP has a major point in this post
I also share the same thought. The numerous altcoin and the easy to which a token can be created can have an adverse effect on the cryptocurrency market

[babicena14]

I believe that a large number of coins in the cryptocurrency market generates healthy competition and contributes to the faster development of projects. Garbage coins will eventually not stand the competition and will cease to exist. Therefore, I can definitely say that a large number of coins is good.

[nlaara12]

Having so many coin in the market is not bad for crypto sphere but having many useless coin is what is bad for the crypto sphere in my humble opinion.

[defoman]

In my opinion, a huge amount of crypto coins introduces novice investors to the confusion. When there are so many coins on the market, you immediately begin to think about what they are needed for and how they differ. But at the same time it creates competition between projects and accelerates progress.

[Btc4Proxies]

I honestly think the competition is needed. Each offers unique features and with time we will see what is necessary for the market. I was recently reading an article about many chains vs one chain to rule them all and it helped give me a better understanding of this situation.

https://medium.com/ampleforth/independent-currency-in-a-multi-chain-world-67032dce8296

[Gekkoo]

So, you can be right and wrong at the same time! It's true that today there is a lot of thing without any sense, but this situation is fruit of the idea of the cryptocurrencies! Everyone wants to contribute in their own way, either negatively or positively. Since Bitcoin controls all of Altcoins' actions, it doesn't matter how many cryptocurrencies because in 2013 the number was much smaller compared now and prices were low as well. The question is the market sentiment.

[elzjmirra]

With a high number of crypto, it has good and bad effects. The good ones will certainly make a lot of colors on Crypto. And we have the opportunity to make profits from various types of coins. But with a lot of cryptos, of course, investors become divided. And cause competition between coins.

[elenka n]

You can look at it ambivalently, on the one hand there are coins that can benefit, on the other hand all the money invested in certain coins would obviously raise the capitalization and prices would rise!

[spike420211]

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

People who invest in these shit coins lose money and the desire to continue investing, and yet they could invest their money in really good projects, and that would help the market.

[princeyeboah]

The main idea of the creation of different coins for different projects was to show how vast the Blockchain and cryptocurrency can be utilized in the view of bringing solutions to payments systems in all projects, businesses, stores, companies etc. However, due to the scam and unsuccessful projects hitting the market, investors are now becoming weary of new coins.

[Adhichan]

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

People who invest in these shit coins lose money and the desire to continue investing, and yet they could invest their money in really good projects, and that would help the market.

we need to delete some shitcoins from cryptocurrency market.if we dont , maybe in future there much investors trapped in this coins.they didnt now its projects already die.maybe coinmarketcap need to add this feature

[Ini35]

  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 present state of the market cap today, most especially its value, is as a result of the increased number of altcoins that are trading. If the number is reduced, the market cap will also reduce. So that does not translate to increase in the price of the coins that might remain if the number is reduced.
Our main concern should be that, there should be increased number of valuable coins, coins with good use cases. In that case, more investors will be attracted and will bring about increased market cap.

[Flezy]

Kind of, but at present only coins with use cases is standing strong while all these worthless coins are taking the heat. Right now, everyone is getting wise and going for only projects with real applications

[UnDerDoG81]

  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 this is an open market, all can show people their projects, and prove that it is valuable. If only for 50 coins, the market is small and there is no competition

[valta4065]

  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? 

Crypto market is open for all, it may be a good or bad side of the crypto market. Too many coins won't be a negative thing for the market as they may bring good competition in the market. The only thing not good for the market is useless coins that are launched with only intention of stealing investors money.

[munareal]

The crypto space gives an opportunity for people and projects to show themselves and the good excel. Having a large variety of altcoins is not bad because the market is all about demand and supply. New coins created should give a reason why people should use it.

[Kardon]

  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 believe of course a large number of different and in most cases absolutely useless altcoins just prevent to develop and be useful coins on this promising projects. I think if our choice was narrowed to a minimum number of coins, the market situation with prices would be quite different.

[hrunya102]

Give time for natural selection, he will do everything for us, the weak coins will die, strong will remain, do not invest in shitcoins.

[Bitfling]

  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? 

Crypto market is open for all, it may be a good or bad side of the crypto market. Too many coins won't be a negative thing for the market as they may bring good competition in the market. The only thing not good for the market is useless coins that are launched with only intention of stealing investors money.

I am agree. Too many coin can give us many option that we can choose. But with many coin in market, there must be a death coin because loss on competition with others. More coin means more analysis but i think more opportunity to make profits