So many altcoins

[htsy585]

I don’t know what the government are still waiting for to establish a regulatory body for this since they too are already picking interest in cryptocurrency first from the digital asset of it, if they really want to benefit more from cryptocurrency too, they need to be able to provide adequate security for its users now that it concerns them, because whatever affect their citizens fund will also affect the economy of the country.

Isn't it funny? We want to be free from centralized government and that's the reason why we use bitcoin, altcoins and other blockchain products. In the other side, we ask for a regulation for centralized government to help us avoiding scam projects.

The gift of freedom is usually abused by humans. That's the state we are now. Funny enough, regulation will be the most tenable way to decimate proliferation of useless coins and developer scams because once they do, they will face jail terms in US and China courts. But then, the fear remains if this single decision will not defeat the purpose of bitcoin and cryptocurrency

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[ethereumhunter]

The altcoin comes into cryptocurrency to help people to make more bitcoin. They trade with so many altcoin pair bitcoin, and if they are profit, they will make a profit in bitcoin. But the altcoin still far away to be used for our life and we could only invest in their project.

So, we cannot deny that there are hundreds of altcoins that appear in the market, but we can use the altcoin for making more bitcoin.

[Kiefner]

Altcoins are really a lot. But very few promising. I think that now you should not rush to invest. Because only experienced investors can choose from such a large number coin of good coins.

[Endikadija]

I don’t know what the government are still waiting for to establish a regulatory body for this since they too are already picking interest in cryptocurrency first from the digital asset of it, if they really want to benefit more from cryptocurrency too, they need to be able to provide adequate security for its users now that it concerns them, because whatever affect their citizens fund will also affect the economy of the country.

Isn't it funny? We want to be free from centralized government and that's the reason why we use bitcoin, altcoins and other blockchain products. In the other side, we ask for a regulation for centralized government to help us avoiding scam projects.

it's not.
It's not a problem when those are asking for the regulation and this regulation will be implemented for ICO and IEO. There is no need for this regulation to be implemented on a native blockchain platform.
Again, regulation will be applied for the team who will be interesting to run ico or ieo and this should be the case.

[posi]

Altcoins are really a lot. But very few promising. I think that now you should not rush to invest. Because only experienced investors can choose from such a large number coin of good coins.

You're right cause only experienced crypto investors have the knowledge of choosing good coins but accumulating more than 6 to 7 coins is not a good idea even for experienced investors cause they also need the time to manage and study every posed by the coins they are holding or else they will loose their investment.

[BChydro]

Isn't it funny? We want to be free from centralized government and that's the reason why we use bitcoin, altcoins and other blockchain products. In the other side, we ask for a regulation for centralized government to help us avoiding scam projects.

You do not need to ask the government to regulate the market, they will do so on their own and they will be regulating the market in the name of avoiding scams but the real fact is to monitor every flow of money into the market  . Bitcoin created a new market but the rest of the altcoins just copied what bitcoin started and created something on top of the block chain and the top coins will survive and the rest will die off.

[Pelunize12]

The altcoin comes into cryptocurrency to help people to make more bitcoin. They trade with so many altcoin pair bitcoin, and if they are profit, they will make a profit in bitcoin. But the altcoin still far away to be used for our life and we could only invest in their project.

So, we cannot deny that there are hundreds of altcoins that appear in the market, but we can use the altcoin for making more bitcoin.

most of altcoins have their own purpose, for example:

1 Privacy : Monero, Zcash, Mimblewimble / Grin
2 Banking : XRP, Stellar
3 Gaming : Enjin, Wax
4 IoT (Internet of Thing) : IOTA, vechain,
5. Distributed Computing : Golem, MAID, Storj

it is made not to make more bitcoin.

[drachman]

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.

You raise some good points but you are assuming the best of those creating those projects that have no future, if they could improve something in the bitcoin code then they will do it but they cannot and they know it, they prefer to create a coin that supposedly solves a problem but that is not right.The truth is that many of the issues of cryptocurrencies cannot be solved by injecting more money to the market, this can only be solved by people like satoshi that have the knowledge to fix what it is wrong with cryptocurrencies.

[Free1bitco.in]

in fact, it's very good now to develop existing projects but this is project slowing down because of the large number of people investing in new things. however, I agree with the opinions of some people on this thread, who say that the current development of cryptocurrency is not only seen as a decentralized technology with p2p delivery, but now people are more focused on utilizing this technology to their advantage. So, because of this people are constantly monitoring new projects, and some of them are stuck on fraudulent projects.

[jostorres]

I blame investors for their lack of sensitivity, if they were sensitive to the crypto sphere, they will already know that people are now turning the cryptocurrency space to somewhere they come to just generate fund without having anything solid to actually offer the public or have a product that we will really be sure of making their value to grow.

People are free to do whatever they want to do and they will always take risk to create project even if they know that the project is not a good one, but because their main focus is just after the money, they do not bother if they are to support existing projects or not, but when investors knows these project already, they still allow them to keep growing by investing their money, so are they not the ones to be blamed?

[perfect999]

I don’t know what the government are still waiting for to establish a regulatory body for this since they too are already picking interest in cryptocurrency first from the digital asset of it, if they really want to benefit more from cryptocurrency too, they need to be able to provide adequate security for its users now that it concerns them, because whatever affect their citizens fund will also affect the economy of the country.

Isn't it funny? We want to be free from centralized government and that's the reason why we use bitcoin, altcoins and other blockchain products. In the other side, we ask for a regulation for centralized government to help us avoiding scam projects.

The gift of freedom is usually abused by humans. That's the state we are now. Funny enough, regulation will be the most tenable way to decimate proliferation of useless coins and developer scams because once they do, they will face jail terms in US and China courts. But then, the fear remains if this single decision will not defeat the purpose of bitcoin and cryptocurrency

Well, I don’t think that it is even my main concern, but my main concern is even about the government, if they are willing to give regulation because they might deliberately be ignoring all these challenges that people are facing so that we can get fed up with cryptocurrency ourselves and dump it rather than them abolishing it, wherein regulation is the main thing that we need to really solve all these challenges with people that are abusing the opportunity that we have here to make use of cryptocurrency.

If we can get regulation from government, it will really create a peaceful and enabling environment for investors to utilize the full opportunities available to them without the fear of someone scamming them or hacking into their wallet to steal their money.

[Bitze]

Altcoins are really a lot. But very few promising. I think that now you should not rush to invest. Because only experienced investors can choose from such a large number coin of good coins.

unfortunately it does not necessarily have anything to do with experience.
even old rabbits in business fall for false promises. of course there are many
alt projects because the temptation is very big to rip people off. as long as
there are people with bad intentions and additionally people who dream of
rich over night it will stay that way.

[kynaz]

Altcoins are really a lot. But very few promising. I think that now you should not rush to invest. Because only experienced investors can choose from such a large number coin of good coins.

Altcoins are often not trusted by many investors this year because the current investment trend is focused only on the top 20 coins so other altcoins will not achieve any major growth. Currently there are many investment options for everyone but it is best to spend more time researching because altcoin is always considered a risky investment and often easily collapses if the market fluctuates.

[stomachgrowls]

Altcoins are really a lot. But very few promising. I think that now you should not rush to invest. Because only experienced investors can choose from such a large number coin of good coins.

unfortunately it does not necessarily have anything to do with experience.
even old rabbits in business fall for false promises. of course there are many
alt projects because the temptation is very big to rip people off. as long as
there are people with bad intentions and additionally people who dream of
rich over night it will stay that way.

On point and this is where do these scams do still exist nowadays because of those greedy people who do just like to make or earn easy money without even

thinking on the possibility of being a scam.They are being blinded by their greed and in result its been used by those scammers to take advantage to those people

who do have this kind of thinking.The cycle continues as this market involves out money yet even its hard to accept but there would always those guys
on having this mindset.

[peter0425]

I don’t know what the government are still waiting for to establish a regulatory body for this since they too are already picking interest in cryptocurrency first from the digital asset of it, if they really want to benefit more from cryptocurrency too, they need to be able to provide adequate security for its users now that it concerns them, because whatever affect their citizens fund will also affect the economy of the country.

Isn't it funny? We want to be free from centralized government and that's the reason why we use bitcoin, altcoins and other blockchain products. In the other side, we ask for a regulation for centralized government to help us avoiding scam projects.

there will be no scammers if there is no possible victims,the problem is people here knew already about the risk but they stay trusting scammers.

no i don't want centralized for regulation because government has nothing to do good for cryptocurrency

[coinfinger]

New “projects” absorb the incoming money flow, which does not benefit the industry, but enriches individuals.
All this created for some cunning rogue?

Some times you wonder the motive of creating these coins , they look promising from inception, they are promising in all ramification. In telegram, Facebook etc, the good gives are there but finally, the growth might not come until the coin dies off or might just get pumped hitting ATH, and that will be all.

It is just unnecessary competition that is making majority of these projects to start releasing their coins because I see no sense in creating a coin that people would not demand for, and if we study the number of cryptocurrency users that we have, we will find that these project are just too much for them.

The real people that should make the project work are still yet aware of cryptocurrency, so what those companies would have just done is to partner with majority of these top coins, most especially bitcoin and Ethereum, and if they had done that now, I am sure that the world would have known about cryptocurrency faster than it is now, because these lots of project would have created an awareness in their own way at one point or another.

[jootn2kx]

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.

Most of these new altcoins are so unnecessary that it is ridiculous. I have seen ICOs that no one would have bothered to even talk about, much less create, if the crypto wasn't so popular as a way of earning money from gullible investors these days. CoinMarketCap has almost 5k coins listed these days, which is twice as many as there were a year ago. You are perfectly correct, it is way to many, with unoriginal ideas, bad tech, and no use cases for most of them. However, I do believe that like 99% of them will fail in the next few years. The only question is will the new ones replace them? Will altcoins just keep popping up, pumping the number higher and higher, or if we can finally drop back to some normal number of good quality projects?

[ici_lemmy]

Altcoins are really a lot. But very few promising. I think that now you should not rush to invest. Because only experienced investors can choose from such a large number coin of good coins.

Altcoins are often not trusted by many investors this year because the current investment trend is focused only on the top 20 coins so other altcoins will not achieve any major growth. Currently there are many investment options for everyone but it is best to spend more time researching because altcoin is always considered a risky investment and often easily collapses if the market fluctuates.

Investor really sensitive with new project. I think for now a lot of new project not always get much in their sale because of it. Maybe in future, if altcoin keep like this, people will change to old ways when they trading as usual. I think if ICO trend keep like this and investors not believe about it anymore, trend about trading in exchanges will like in past and volume in each exchanges will big like past. I personally will be very agree with it.

No one can take risks when investing in new projects because the current market is very difficult to predict so it is not good for our profits. I think anyone is afraid to invest in this market because this year is not a good year for people to make money. In fact, an ICO is an investment that will make you spend a lot of time waiting or worse, you will lose all assets when participating in ICO.

[ChronoLite]

However, I do believe that like 99% of them will fail in the next few years. The only question is will the new ones replace them? Will altcoins just keep popping up, pumping the number higher and higher, or if we can finally drop back to some normal number of good quality projects?

99% is little too over, there are still good altcoins to consider to invest especially ieo cuz u just need to do more research and not to greedy to blindly pick ieo and not doing research, altho most of them will reward u less reward than ieo phase.

[cribusen]

It is true that every day tons of projects are getting listed here or on various rating websites. The reality is very tough and only a small part of all these projects will get listed on exchanges and even a smaller part would be able to keep the price stable.