So many altcoins

[BitCoLovey]

I risk creating a duplicate question. But I'll try.

A huge number of crypto assets are discussed here. In the neighboring sections, new projects appear every day. But these are all false, far-fetched and almost always unsuccessful undertakings. New “projects” absorb the incoming money flow, which does not benefit the industry, but enriches individuals.
All this created for some cunning rogue?

Yes, some projects look interesting and potentially. I like the idea of ​​global currencies for various use and applications. W/o traditional money. W/o state control.
Is it not better to leave the opportunity to develop what is, than to continue to spray funds on scoundrels?

I do not know how this works and is managed. If all this is basically without control, then the future of the cryptocurrency world looks vague. However, this is interesting, because in addition to the expected collapse, there may be unexpected surprises.

[1714012070]

1714012070

[Red-Apple]

the problem is that the community has changed from "wanting to see new projects that create a decentralized peer to peer currency" to everyone wanting a different thing "wanting to see projects that can give them the most amount of profit".

so if you look back, in early years we saw most altcoin projects be good or at least have some fresh ideas (i am talking about the first couple of years like 2010), but when you compare it with these days every project is only a money grab thing and people only want to trade them on exchanges. nobody even runs their wallets/nodes anymore.

[Cnut237]

I do think a lot of new projects are not really necessary. It is often a case of thinking 'I want to make money from crypto, how can I set up an ICO and get into the market?' rather than genuine technological innovation, or any real need to the solution to involve crypto at all.

I suppose this is inevitable as the money in the sector grows. There is certainly room for further innovation and new solutions - but these are drowned out by the flood of new coins that either don't offer anything, or else offer something that is unnecessary and can be delivered already by an existing coin.

[Pearls Before Swine]

so if you look back, in early years we saw most altcoin projects be good or at least have some fresh ideas (i am talking about the first couple of years like 2010), but when you compare it with these days every project is only a money grab thing and people only want to trade them on exchanges. nobody even runs their wallets/nodes anymore.

I agree, any new altcoin coming out these days is just a copycat of something better.  The most useful coins have already been created, and there aren't even that many.  The ico space is even worse, because people actually invest money in the projects before they're launched and sometimes the ideas sound good...at least on paper.

Good point about running nodes and wallets with shit coins.  The really bad ones don't even have any miners anymore and can't be sold or transferred at all.  That's when you know a coin is really dead.  And that's where the majority of them are headed, too.  The cemetery of dead coins that no one wants.

[DaMut]

Cryptocurrency has a lot of room to grow, we can not ignore all of them because of some scoundrels and scammers. Without evolving further human can not survive, and it applies to cryptocurrency too. Without discovering something new, we will not make any progress and we will not survive. Developing our current cryptocurrency and at the same time finding the potential crypto for our future is the better way, we need an alternative in case something goes wrong with our current cryptocurrency.

[tinyteapot]

There is a need for more altcoin to be created because blockchain shall still take over most of the world industry as a means of transactions because it is faster than natural banking technology.

The only problem comes from those altcoin that does not have any product to back it up, such altcoin ended up scamming the community with their sugar coated unrealistic whitepaper.

[NathanJB]

I do not know how this works and is managed. If all this is basically without control, then the future of the cryptocurrency world looks vague. However, this is interesting, because in addition to the expected collapse, there may be unexpected surprises.

Those slightly smaller texts are more interesting than the bigger ones. The absence of control is itself the reason why the future of cryptocurrency looks clear. The future of fiat is vague because it is under control. By whom? By the elites, so few of them, controlling the rest of the population. It is a problem when money is in the hands of the few, the creation, control, supply, etc. It is less dangerous if money is out of control of everyone. What is needed is the money, decentralized, under no one's control.

[Pelunize12]

new good project is needed in cryptocurrency to expand this industry, it's not wrong at all.

The good project already launched, still developed by their developers, those still and always devs those project. it's good being mature project

something wrong in my opinion is investing in shit project, even on new or already launched, as far as they are shit. it is called wrong. that's why the investor should be wise before investing

[bobelr]

Yeah there are so many nowadays that makes it very confusing to know which to roll with. But you may want to check out DX token and Atomic wallet Coin. DYOR as well.

[Rodeo02]

There is a need for more altcoin to be created because blockchain shall still take over most of the world industry as a means of transactions because it is faster than natural banking technology.

The only problem comes from those altcoin that does not have any product to back it up, such altcoin ended up scamming the community with their sugar coated unrealistic whitepaper.

I don't think we need that much of altcoin as coinmarketcap list morethan 3000 altcoin as of this moment . Why not develop the old project and add the new  ideas they think can help the project than creating a new one  and raised another money . Creating a new ideas and coin will not help it will only divide the investors.

[adroitful_one]

This is the problem with open source software. If it's something good, everyone is going to try and copy it. Just look at Linux. There's so many different Linux distributions out there nowadays. Some are good, some aren't worth the trouble putting on a flash drive. It's the same way with cryptocurrency. Your best option is to stick with only things in the top 100 on coinmarketcap. Unless you're just really trying to make something out of nothing. But, that's always high risk.

[o48o]

the problem is that the community has changed from "wanting to see new projects that create a decentralized peer to peer currency" to everyone wanting a different thing "wanting to see projects that can give them the most amount of profit".

so if you look back, in early years we saw most altcoin projects be good or at least have some fresh ideas (i am talking about the first couple of years like 2010), but when you compare it with these days every project is only a money grab thing and people only want to trade them on exchanges. nobody even runs their wallets/nodes anymore.

Because most of those projects are just token phase so thre's no need to run any nodes, and they are probably never going to implement their blockchain anyway in the future, or if they are there are just too many projects to run and less crypto geeks that are interested in the tech.
There are like 50 projects i would like to run node now to but don't have capacity anymore. Back in days there were maybe 2 that interested me.

But there were crap ideas way back before icos, but people are just not talking about those, they started quietly and died quietly, often with a large secret premine that got dumped.

[Febo]

So many altcoins

A lot are totally identical so no innovation. A lot are copies but some thing tweaked. A lost what you are talking about are just tokens a digital asset, not real cryptocurrenices. There are some unique coins that are worth to learn about and have.

[youdacapt]

Previously I assumed it would be effective against monopoly risk because the market would be healthy with structured volume sharing. But it turns out the quality of this new coin is very disappointing because many developers do not understand how to synchronize the development of coins with the situation of their coins in the market. and the rest are fraudulent products that only focus on sales profits, and then wash assets neatly.

But this experience actually strengthened investors to be more careful afterwards. regulation is the only way now, or this coin will continue to damage the crypto reputation for quality, sometimes innovation will fail if it doesn't have enough long-term support.

[BChydro]

A huge number of crypto assets are discussed here. In the neighboring sections, new projects appear every day. But these are all false, far-fetched and almost always unsuccessful undertakings. New “projects” absorb the incoming money flow, which does not benefit the industry, but enriches individuals.
All this created for some cunning rogue?

Avoid all the projects and then it will be easier for you to deal with the scam market, if there is a potential project with a reputed team then you can plan on investing but with all those projects with reputed developers or team it is hard to be the initial depositor as there will be other angel fund houses to invest during the initial phase.

[disconnectme]

the problem is that the community has changed from "wanting to see new projects that create a decentralized peer to peer currency" to everyone wanting a different thing "wanting to see projects that can give them the most amount of profit".

so if you look back, in early years we saw most altcoin projects be good or at least have some fresh ideas (i am talking about the first couple of years like 2010), but when you compare it with these days every project is only a money grab thing and people only want to trade them on exchanges. nobody even runs their wallets/nodes anymore.

This is a major concern in the space now, new ideas are stalling and the so called new projects are just a copy of odd ideas and are not solving the problems in the space. Some people just want to head a project and be called founder and developers. Why create something that add no real value to the space

[South Park]

This is the problem with open source software. If it's something good, everyone is going to try and copy it. Just look at Linux. There's so many different Linux distributions out there nowadays. Some are good, some aren't worth the trouble putting on a flash drive. It's the same way with cryptocurrency. Your best option is to stick with only things in the top 100 on coinmarketcap. Unless you're just really trying to make something out of nothing. But, that's always high risk.

This is the price that we have to pay for our freedom, the source code of bitcoin can be accessed by anyone so the only thing that scammers need to do is to modify it a little bit and then they can claim that somehow they improve it when that is not true, some are suggesting that we need regulations to combat this problem but I disagree what we need is to warn possible investors that the chances that they will lose their money are very high and as such they should stick to the most popular coins.

[Patrix_1]

The problem is that people are still investing without any research of each project. Thats why there are so many scams around, because, unfortunately, investors are even too lazy to read the whitepaper or to check the team members.

[cryptonx]

I do not know how this works and is managed. If all this is basically without control, then the future of the cryptocurrency world looks vague. However, this is interesting, because in addition to the expected collapse, there may be unexpected surprises.

no body can control this industry my friend
because generally crypto use a decentralized system, thats the main causes
and people should learn from the past to protect their money from scammers, cheaters and others

[Distinctin]

the problem is that the community has changed from "wanting to see new projects that create a decentralized peer to peer currency" to everyone wanting a different thing "wanting to see projects that can give them the most amount of profit".

so if you look back, in early years we saw most altcoin projects be good or at least have some fresh ideas (i am talking about the first couple of years like 2010), but when you compare it with these days every project is only a money grab thing and people only want to trade them on exchanges. nobody even runs their wallets/nodes anymore.

This is a major concern in the space now, new ideas are stalling and the so called new projects are just a copy of odd ideas and are not solving the problems in the space. Some people just want to head a project and be called founder and developers. Why create something that add no real value to the space

Because these project owners and developers just only considering their own profitability but not as a whole. It really affects crypto vision which I don't think that new investors see it nowadays. If I am doing investment today, I only look for old projects cause they already establish a reputation in the market for us to have the assurance and returns in the future.