Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years

[Red-Apple]

@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

have you ever checked some of the projects?
go on github and just go through the source code of different altcoins, even the most popular ones among the top 10. you will see that 90% of them have "copied" bitcoin exactly and have created their own coin. some have the decency that directly forking the project and giving credit to the original but most try to hide it!

[jthor]

@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

have you ever checked some of the projects?
go on github and just go through the source code of different altcoins, even the most popular ones among the top 10. you will see that 90% of them have "copied" bitcoin exactly and have created their own coin. some have the decency that directly forking the project and giving credit to the original but most try to hide it!

For the month, the most important thing in Altcoins is that they continue to increase their liquidity in the cryptocurrency market.

[SquallLeonhart]

There is nothing but truth in everything that is being said by him, most altcoins might eventually fade out every soon, and I think this bull run for altcoins that we have been expecting may not come. Right now, seems older and newer investors are even paying attention to new projects than the old ones because they believe that some of these old ones have expired and they have nothing new to offer.

The moment an altcoin has reached an ath and has been dumped, it will take grace for them to be revived again. I still don’t even see the usefulness of some of those altcoins, the only thing we use crypto for right now is to have it as an asset and also to use it for payment which bitcoin has already covered those areas.

[key4co.in]

There is some sense in what Peter is postulating but I think 99% stated there is an exaggeration. Some few projects are doing really well and in 5 years time, if there are no general severe setbacks in crypto, they will still exist. I was expecting to see projects like EOS, XRP,  XLM and a few others as exception but the reverse is the case.

[kravas86]

The main altcoins can't disappear. Because all the main altcoins are supported by institutional investors and this situation is absolutely unprofitable for these investors. The company Ripple develops software many banks on the basis of their own cryptocurrency. Ethereum plans to open a new blockchain platform. I doubt that such smart people can make mistakes in their activities. They certainly know better than we do in this industry.

[eternalgloom]

There is some sense in what Peter is postulating but I think 99% stated there is an exaggeration. Some few projects are doing really well and in 5 years time, if there are no general severe setbacks in crypto, they will still exist. I was expecting to see projects like EOS, XRP,  XLM and a few others as exception but the reverse is the case.

Of course it's an exaggeration, I'm 100% sure that articles like these are written to get as many clicks as possible.
Everything is just a hyperbole statement these days.

Heck there will be quite a few projects from the CMC top 100 that will probable make it.

[aioc]

However, Brandt may not be wrong about his statement. Earlier this year, crypto analytics firm DataLight shared a visual representation of the top ten cryptocurrencies by market cap and how it has evolved since 2013.

Before even clicking play, the only recognizable cryptocurrency on the list aside from Bitcoin itself is Litecoin. Not even Ripple was released at this point.

The list includes the likes of Peercoin, Namecoin, Feathercoin, Novacoin, Mincoin, Devcoin, Terracoin, and Aphrodite Coin. If you are scratching your head, wondering what these altcoins are, then it may not be unfathomable that the current crypto market top ten might all be forgotten in the matter of another five years, just as Brandt says.[/i]

Read in full https://www.newsbtc.com/2019/09/03/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years/

Those coins mention are already gone because developers cannot keep up and coins that cannot keep up will be gone for good but this is not new to all of us, every day we have seen coins come and go and some of them are already forgotten after launched not more than a year, the competition is very stiff that they have a hard to keep up with the pace.

[bbc.reporter]

@avikz. Should there be? Are the cryptocoins outside of your 3-5 cryptos really garbage? I reckon community formation and opensource development should not be stopped. One of those projects might develop something that bitcoin can use.

have you ever checked some of the projects?
go on github and just go through the source code of different altcoins, even the most popular ones among the top 10. you will see that 90% of them have "copied" bitcoin exactly and have created their own coin. some have the decency that directly forking the project and giving credit to the original but most try to hide it!

The most popular of those cryptocoins which is litecoin. No development, copied from bitcoin, however, supported by a large community, supported by some opensource developers and has held top 10 longer than most altcoins.

There are smaller coins similar to Aeon that might appear forgotten, however, it has a loyal community of contributors and hobbyists that might let it live longer than Peter Brandt's 5 years. I would consider this a success.

[Mpamaegbu]

FYI:
ZEIT will be the Last Coin Standing.

That's an unsolicited plug for Zeit. But then I checked your signature and volla! You're wearing the ZEIT logo. So, I ain't surprised really. However, looking at the Peter Brandt picture and seeing his face reinforced my belief not to trust old people when it comes to cryptocurrency. They actually know next to nothing. Did he say 99%? Gosh!

[digitalblock]

I think this is just another piece of information. If altcoins disappear from the market then the crypto community will lose a huge number of participants. Since many of them continue to believe in the idea of altcoins. I can't let XRP or LTC disappear. On the basis of these coins built many banking standards.

[tsaroz]

Exactly true. There are more than ten thousand coins tradeable at the moment. 1% of it makes up 100. And even I would not be able to name 100 different coins. With the rate of new coins not decreasing, people will forget most of it and the most of new ones in a decade time.
Only a few of this decade would effectively survive till the next one.

[robelneo]

That's probably going to happen after seeing Bitcoin dominance going bigger and bigger, these coins cannot keep up with the adoption that is going on right now, investors always have a change of mind and they are quick to trade coins that they think will have no value in the long term, everything is long term.

[Vishnu.Reang]

I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.

[didzi]

That's probably going to happen after seeing Bitcoin dominance going bigger and bigger, these coins cannot keep up with the adoption that is going on right now, investors always have a change of mind and they are quick to trade coins that they think will have no value in the long term, everything is long term.

maybe this will be happend, but in my predictions not 99% alts will be forgotten mate
just 80% will gone and have no value in the next five years

[fortunecrypto]

I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.

I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.

[jarhed]

I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.

I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.

I do not believe in such a real picture when more than 90% of Altcoins disappear from the market. On the contrary, there will be a lot of Altcoins, more than 10,000, because the market is very global.

[setialovers]

I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.

I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.

I do not believe in such a real picture when more than 90% of Altcoins disappear from the market. On the contrary, there will be a lot of Altcoins, more than 10,000, because the market is very global.

Maybe it means that there will not be many altcoins that can last for the long term. If we look at the condition of altcoin on the market, most of the tokens are utility token whose products have not been widely used by people. In addition, many new altcoins are pump and dump tokens

[Mighty_crypt]

Its just weird how crypto space is,coinmarketcap have 2000+ digital currencies listed on its platform but guess what?we have over 5000 coins and tokens in crypto space because some have not make it to coinmarketcap yet and some are still on queue already,what OP is talking about makes sense to me,what will be the use of all these coins and tokens? they can't all be useful for humans on the long run ,i hope people will start doing research on coins and tokens they holding for long term because many projects are not been build to survive for long time

[coiningz]

Thats true. Just check end of CMC. Graveyard of dead projects

[Vishnu.Reang]

I would agree with the figure of 99%. Apart from Bitcoin, coinmarketcap currently lists a total of 2,646 different cryptocurrencies. If you take in to account the tokens and altcoins that are not listed there (including the dormant and dead ones), then I believe that the list will easily cross 10,000. 1% of that means somewhere around 100 different cryptocurrencies. And in the long term, that looks like a fair number for me.

I think the guy has done a good analysis, he covers altcoins in a five-year span, that will leave us 100 to 200 coins in the market that has real supporters and investors are backing up, and that's the real picture, this analysis clearly depicts how messed up altcoins is now, investors are had enough of this altcoins.

200 is still too big for me. My range would be anywhere from 25 to 100 (for the five-year span as suggested by you). Because we don't have too many sub-categories among the alts. We have cryptos for various purposes, such as file sharing, smart contracts, complete anonymity.etc. IMO, there may be at the most two dozen categories. IMO, one to four coins from each of these types will survive in the long term.