Useless altcoins must remove from the whole crypto market

[shoreno]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

Exchange is delisting it, and members here are posting development of those coins, it's really up for investors to check if they are holding shitcoins in the market, coins without development will eventually die no need to post that they should be removed.

scammers can can also create a fake exchange and they wont de list thier own scam coins  . you will only be shock once their exchange have been shut down because of the numerous reports or they will shut it down by themselves if they already accumulate enough funds for thier scamming  . other coins can still be delisted on bigger exchanges if they arent getting enough volumes  so dont worry  . its our responsibility to check what we buy to ensure that we only support the worth it projects  .

[takngantuk]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

it's difficult to eliminate bad altcoins from the market. as long as people still hold it will continue to be there. anyway what criteria are used to classify good and bad altcoins. if only based on the price of falling, I think it's still not strong.

[Kimonoe]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

Exchange is delisting it, and members here are posting development of those coins, it's really up for investors to check if they are holding shitcoins in the market, coins without development will eventually die no need to post that they should be removed.

right, they will disappear by themselves. but it is a dangerous thing for beginners, where it is thought the price has in the floor and is good to buy. they will experience bad luck. but if there is a removal action from the exchange for shitcoin it will be better

[Herbert2020]

well then the altcoin market would be empty starting to remove the top 10 altcoins first because they are the most useless coins in this market that get the biggest hyped and pumps of our time.

the problem with this market is that people do not care about usefulness of altcoins. all they care about is how much profit they can earn from them so the less usage a coin and the more pumps it gets the higher popularity it will gain.

if you want this to change you shouldn't start changing the market, instead you should start changing people and the way they see this market. as long as it remains a milking cow for bitcoin investors to increase their bitcoin and care not at all about technologies then the shitcoins remain dominant in altcoin market.

[TastyChillySauce00]

It is just the people, everyone can make their most shadiest and shittiest altcoin there is but if no one is going to add some demand that coin will be the same as nonexistent.
The main purpose of open source project is available to everyone, even to scammers aswell which just unintentionally happen and what's left including which one is shit coin which one is good coin is up to the market to judge.

[el kaka22]

This is already happening .

Who will decide the usability of a crypto coin ? Like, who will determine whether the devs are active or not ? There are only very thin differences between an active dev and for a dev who is on vacation after launching their dream project. So, we cannot do anything on sudden hence we must give them time to settle down.

Now, let me come to the point of "already happening". Delisting is the thing which helps to keep the crypto space clean as much as possible. When the devs are not active then those coins may hit zero value or considerable low volume to make themselves eligible for delisting.

[sieemma]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

We all hope for this but how can you completely remove these coins when day in and day out, there are tons of "useless" coins or tokens being issued?
And the activities of some exchanges like hotbit must not be intertained in the crypto industry. What happens there is a clear bot program that is set to augment trading volume and nothing more. When there are no real users, it pumps the price and when users go there to trade those prices, the bot starts buying below that price seen already.
Yesterday, 30/7/19 for instance, there was a 415% increase in the price of tratok which was far higher than the other exchange it was traded in compared to hotbit. I checked personlly and it was all bot activities.

[CryptoLing]

Well first you must define useless. There are many altcoins in top 200 that for me is useless but it has high marketcap. I think what you meant is scam or dead coin.

[Mianae]

Manipulation and market making will not be totally banished because top players will and always do as they desire with the market. Pumps never end same with heavy dumps to stay safe avoid such coins.

[Lantind]

Well first you must define useless. There are many altcoins in top 200 that for me is useless but it has high marketcap. I think what you meant is scam or dead coin.

A coin that is considered useless is from all sides, both in terms of volume and price as well as the demand side, so that the coin is considered to be of no use to anyone, not only us personally but also others.

[audaciousbeing]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

The real question is who will remove those shit coins. The reason is because there is no overseeing body to regulate the way things are done in the crypto industry and that is an issue we have to deal with. For example in the capital market, there are rules and when a stock is not doing well or management under investigation their stock is suspended but when it comes to this crypto market its free for all and it will continue to be so. The onus on the the investors or the traders who are usually at the receiving end to be very observant when dealing with such coins.

[Tomohisa]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

No need, just let the mass decide which coin is useless and need to die, pull the plug. If you can't see a dead coin then only you're to blame. So we don't need anyone or any group pop up and tell us which coin is useless and dead.

[Red-Apple]

and how exactly do you propose we do that?

this is a free market and you can't remove anything from it as long as people are trading it. their reasons may be wrong and the coin may be a shitcoin but they are trading it.
on top of that, exchanges don't care even a small bit about whether a coin is useless or not. all they care about is volume and as long as a coin has it, they will list it on their platform. example: BSV, it is a pure shitcoin but only because it had a huge volume they listed it. as soon as it lost that volume they delisted it!!!

[dcomomal]

It would be great, but I do not think it is so easy to do. Coinmarketcap accepts only coins that have more than 50k trading volume, but do not eliminate them if they are not providing this volume daily. This problem bothers me as well, but I cannot get how it can be possible.

[Mr.Spreadthehamster]

Even if the coin is shitty, but it is being traded for a small amount, it means that it is still interesting for the exchange. Absolutely illiquid coins will in any case leave the cryptocurrency market.

[ufaiz50]

They just create some kind of hype once or twice in a month or week and make their profit with fake exchanges and forget about it, I am talking about the developers of those kind of altcoins which are not performing and these are totally waste for crypto market and also creating confusion for new people who are entering in crypto world so what's your opinions. Useless altcoins must be remove from crypto market if it happens then it would be great and very beneficial for crypto world.

So what kind of coin is useful and useless? in my opinion surely coins that cannot compete and are useless will surely disappear by themselves in the market. Here why should blame the coin for the confused merchant and get stuck in it, we need evaluation instead of blaming and eliminating it, traders must be smart in choosing and managing strategies.

[thiscomm]

I think that has been done in the crypto world because I often see many new coins present then they just disappear due to a lack of explanation where the new coin will function or it can be said to have no direction. New coins like that must be immediately erased and just disappear in the crypto world and it happens automatically.

[bryant.coleman]

Even if the coin is shitty, but it is being traded for a small amount, it means that it is still interesting for the exchange. Absolutely illiquid coins will in any case leave the cryptocurrency market.

There are expenses involved in allowing a coin in to an exchange. Hot wallets and cold wallets needs to be created, and the scripts needs to be updated. If the trade volumes for a particular altcoin is high enough, then the expenses will be covered from the trade fee itself. If that is not the case, then the exchange will ask the promoters to pay up. Now this amount can vary from exchange to exchange, and smaller exchanges will obviously be ready to list coins for a smaller payment.

Once the coins are listed in one or two smaller exchanges, the next step is to inflate the trade volume using bots. And after a few weeks, the coin will gain enough trade volume to get listed in coinmarketcap. This will give enough attention for the coin and the promoters can then initiate a pump and dump cycle and vanish with whatever wealth they manage to accumulate.

[wendiar19]

I think it will be very difficult to do because useless altcoin will always be there every day and also there are always people who support it. and also thousands of useless altcoins in crypto are things that are impossible to remove.

[bering]

I do want it happens but with the current altcoins were plenty available i think it won't be so easy but sometimes the exchange regularly delisted some of altcoins which have low volume of support and this is slightly helped people to know which useless altcoins should be removed