Number of different alt coins increasing exponentially?

[DaveWave]

Does anybody have historical information about the number of altcoins available historically. Since someone told me to look at Bitcoin over xmas I noticed that there were only 60 altcoins. 50 days later I see coinmarketcap.com is listing 175. New coins are being added at an ever increasing rate.

Would like to see this rate graphed somewhere, if this trend continues at the same rate how many altcoins will there be at the end of the year if the number of coins continues to double every 40 days or so? Will there be more than 1000 altcoins by the end of 2014? At what point are people going to realize this is a big scam?

[1715469422]

1715469422

[glendall]

They aren't 'a big scam' as you say.  There are many that are innovative and superior to bitcoin in some more many ways.

Unfortunately the goods coins are in the minority though. For every 1 good new alt coin that comes out 10 dumb -copy-and-paste coin comes out, usually only made to appear different by some cosmetic thing or marketing,  like PotCoin or any of the hundred.

As far as I know there is no graph that plots how many coins there are.

[DaveWave]

So in your own words, 90 odd percent of coins are dumb.

Are these not being set up by individuals to profit financially and thus a scam?

[bl0ckchain]

Does anybody have historical information about the number of altcoins available historically. Since someone told me to look at Bitcoin over xmas I noticed that there were only 60 altcoins. 50 days later I see coinmarketcap.com is listing 175. New coins are being added at an ever increasing rate.

Would like to see this rate graphed somewhere, if this trend continues at the same rate how many altcoins will there be at the end of the year if the number of coins continues to double every 40 days or so? Will there be more than 1000 altcoins by the end of 2014? At what point are people going to realize this is a big scam?

Fewer and fewer people are taking coinmarketcap.com seriously since they show no discretion when it comes to adding new coins.

My understanding is this site is quickly gaining in popularity: http://cryptmarketcap.com/

[Oldminer]

Are these not being set up by individuals to profit financially and thus a scam?

Bingo!

[coin-table]

Hi everybody,

I guess its up to everybody to decide what coins have a value.

On  http://www.crypto-coins-table.com

I try to gather all information. All coins get listed now we have 401 ...

[DaveWave]

Also, following the huge success of coins for Iceland, Spain and cyprus I can see a coin for Greece coming out very shortly.

Assume, 50% premine of 1 billion coins. Developer sells 1 greecycoin to himself for 1 dollar thus valuing greecycoin at 1 Billion and number #2 on markets. Few people think they can promote as pump and dump and developer sells 20 million worth of coins over the next week before price crashes.

Developer moves on to CrimeaCoin

Then Malaysian 777 coin

Then altSuckersCoin




 

[wasamata]

Also, following the huge success of coins for Iceland, Spain and cyprus I can see a coin for Greece coming out very shortly.


 

already out-80% premined...

[snappa4ever]

The strong will simply survive.  

[galbros]

While it is annoying I do think overall it is a good thing.  The cost to make a coin is very low and there are opportunities for real innovation over bitcoin.  A look a the bottom of coinmarketcap is always a good reminder that the market is capable of sorting out winners from losers, and there are a lot of losers.