Over 2000 Projects Reviewed – 640 have not published a single Code in 2019

[nelson4lov]

Apologies for the long thread title. Btw, I recently came across a report by CoinCodeCap and I found it fascinating and want to share with others o'er here.

Here are the key findings :
Main findings –

More than 640 cryptocurrencies did not publish any code in 2019.
Yobit is top exchange for these coins, list 62 such coins.

The combined market cap of these cryptocurrencies is more than $415 million. (415,341,340)

Proton Token with the highest market cap (84,989,086) has not published any code since 2018. (This data is from Nomics APIs)

What's more interesting is that, Majority of these projects were launched in 2017 with a truck load of promises. Today, The story is different.


What's your thoughts on this? Feel free to share.


For further Reading : https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

[poornamelessme]

That article is like saying water is wet. Umm... yeah, everyone kind of knew that most shitcoins aren't actively updating their code or adding new features. And yobit is one of the worst exchanges out there, or at let's say it's where you go to find shitcoins.

I don't mean this post to disparage the information you provided. Just saying that anyone involved with crypto should have well been aware of this ages ago.

[pooh95]

My opinion is that they are 50% scammers who raised money, and this is the end of their goal, therefore, thanks to such dealers, the overall picture of the crypto industry is negative, and investors are more careful and less willing to invest in projects.

[Mrsparks]

Everyone with a good understanding knows we have more concepts than working products. Yobit is also is a remarkable home for shitcoins  A lot of dead projects are constantly pumped on Yobit. I sometimes wish that the exchange could be investigated for fraudulent activities.

[Winscosinally]

Everyone with a good understanding knows we have more concepts than working products. Yobit is also is a remarkable home for shitcoins  A lot of dead projects are constantly pumped on Yobit. I sometimes wish that the exchange could be investigated for fraudulent activities.

I wonder how that is going to happen, there is nothing that can stand in between exchanges and investors for now, the freedom world of crypto is really hurting it, yobit exchange is not the only exchange with shitcoins that are been pump on purpose

[ganeshramk]

I don't understand the whole story in that article. However one thing is sure. Most projects are scammers and thats why we dont see any progress or codes. This needs to change very soon.

[irixo10]

One can only offer what he has isn't it? So for them not to publish any code for a while now means they have reached the end of line and thus people should be careful of them. Most times we complain that most altcoins are shitcoins this is the proof, I can't really picture why a team will promise something and then stay away for a long time without doing anything to keep their promises and later on they will blame the bear market. In all sincerity, let's be careful of some these projects this post has proved that there is more going on which might not know.

[ansi]

Well hat's not a scale to say it's a shit project or not, some of them launched with a working product already so not putting a single line there means nothing, just saying.
Other projects, like you said, dumped it or got broke or cam or whatever... or simply lost faith developing the project because they have a TEAM but not a DEV TEAM which i huge difference most people don't know when investing in an ICO or IEO.

[krb91]

This is a problem that can easily be resolved.  Investors are getting smarter and are choosing to invest in projects conducting reverse icos i.e tokenization.  These projects tend to be more successful over those with a fancy white paper with nothing to show as proof of project. Some projects could beore engaged in offline development though.

[hashman]

Apologies for the long thread title. Btw, I recently came across a report by CoinCodeCap and I found it fascinating and want to share with others o'er here.

Here are the key findings :
Main findings –

More than 640 cryptocurrencies did not publish any code in 2019.
Yobit is top exchange for these coins, list 62 such coins.

The combined market cap of these cryptocurrencies is more than $415 million. (415,341,340)

Proton Token with the highest market cap (84,989,086) has not published any code since 2018. (This data is from Nomics APIs)

What's more interesting is that, Majority of these projects were launched in 2017 with a truck load of promises. Today, The story is different.


What's your thoughts on this? Feel free to share.


For further Reading : https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

I also reached this information today. No code means these projects are dead? Or Project team just waiting a bull market for adding new codes?

It is not easy to answer, but it is easy to say that both situations are sux.

You believe a project, a project team = group of people, and you invest on them. As a result you get nothing. They may disappear, may wait the bull market which can come 1 years later. Or 2 years?

It is why IEOs are a good for community. I am not talking about the prices of the coins. Talking about the project development. Exchanges are following these IEO project closely to make sure that they chose the right projects for their exchanges.

We can complain about the prices of the IEOs last 1.5 month, but we can not complain about the project teams of IEO projects.

[dodziu]

It is a good article though it does not change anything, both investors and bounty hunters have moved on and throw the bad memories behind.
This article actually makes the wounds of past loss to bleed.

[nelson4lov]

That article is like saying water is wet. Umm... yeah, everyone kind of knew that most shitcoins aren't actively updating their code or adding new features. And yobit is one of the worst exchanges out there, or at let's say it's where you go to find shitcoins.

I don't mean this post to disparage the information you provided. Just saying that anyone involved with crypto should have well been aware of this ages ago.

I understand the point you're trying to drive home. But sadly, not everyone knows about this. They just go off investing blindly in shit projects. Everyday, Money-Hungry Noobs line up to throw money to this projects.

~Snipped~

I also reached this information today. No code means these projects are dead? Or Project team just waiting a bull market for adding new codes?

I don't understand the whole story in that article. However one thing is sure. Most projects are scammers and thats why we dont see any progress or codes. This needs to change very soon.

Yes, No codes means no progress when a company stops pushing updates to production, we consider it dead. The list of "dead" Cryptocurrencies are endless.

[tranduong123]

In fact, the number of inactive projects is much greater. Such projects, the original goal of the founders, were created solely to collect investors' money, then they would only say "soon", when people ask about the project's development roadmap. They will disappear, just a matter of time.

[lobat999]

That article is like saying water is wet. Umm... yeah, everyone kind of knew that most shitcoins aren't actively updating their code or adding new features. And yobit is one of the worst exchanges out there, or at let's say it's where you go to find shitcoins.

I don't mean this post to disparage the information you provided. Just saying that anyone involved with crypto should have well been aware of this ages ago.

The article may seem to discuss old news but it could very well served as guide for people who are new into cryptocurrency and will led them to take necessary precautions to avoid incurring financial losses if they had unwittingly invested on an inactive project!

I must say that examining code activity of over 2000 projects is a tedious task and I must commend CoinCodeCap for its very informative site - https://coincodecap.com/ as this enables us to effectively sort out projects to be avoided and could guide us in assessing projects based on their own Github activity.

[mcnocon2]

Sad to say but I agree on this article, almost all projecs in 2017-2018 don't have a product or MVP. They just sell their ideas on the form of whitepaper, knowing the hype of ICO in 2017 most investors just invest blindly on this projects and that leads them to get rekt. But right now, I think we have seen some improvements because some projects really strive hard on coding their product.

[whtchocla7e]

The article is actually a bit true. However, reading this article I think of bounty hunters of projects. Do you think the investor or the bounty hunter will suffer most? In my opinion, bounty hunters lose a lot, they lose their time, effort and intellect. Many scam projects have inadvertently scammed their efforts.

[asradoni]

So it is against the backdrop of hype 2017-2018, you can easily enter into trust, make a project, sell an idea, investors hoping to make good money will invest their money. If you write that this is a breakthrough in the cryptocurrency world, the speed is crazy and there is almost no commission - it can play a trick on the investor.

[coaprotet]

The majority of coins that are live on coinmarketcap would disappear in 5 years, because they are suffering from lack of money, strategy and competent management. Besides, 70 percent of coins are not backed by a working product.

[Jating]

I guess it has something to do with the bearish alt market in 2018, devs thought that they can get away by just pushing the first code and let the market pick up their tokens and make millions. However, since the alt crypto winter, those devs was shock and doesn't have the nerve to continue because they know that they won't survived.

As for Yobit listing most of them, what do you expect from a shit exchange? I guess they are not strict when listing those shitcoins, once the project paid them handsomely, the next day you will see that coins listed.

[autodenisauto]

The majority of coins that are live on coinmarketcap would disappear in 5 years, because they are suffering from lack of money, strategy and competent management. Besides, 70 percent of coins are not backed by a working product.

So it is, first wallets stop working, and then the rate tends to zero.