Altcoin Numbers Continue Exploding in Spite of ICO History

[cheezcarls]

The number of new altcoins and stablecoins being offered to the general public continues to increase. This is in spite of the fact that the Initial Coin Offerings (ICOs) that started the altcoin craze have met mostly failure.

The beginning of 2020 saw a host of new coins enter the market, often with specialized intent. Many of the new altcoins are designed for specific usage within platforms or games. Nevertheless, the diffusion of attention into these coins represents much of what is wrong with the industry.

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It looks like the numbers keep increasing, as they don't seem to care if they fail or succeed.

I just don't know why people don't get tired of losing their money to these new projects without even doing deep research. As you can see, only a tiny handful of projects do actually succeed, but most of them failed because of their dependency to the crypto market situation.

Like there's one project 2 years ago, where they still "developing" and giving us "quarterly updates" which isn't that exciting for investors as that project is still not on exchanges. There's another "exchange" ICO a couple of years ago, where until now, tokens cannot be traded in their own platform.

It's the reality nowadays for ICOs, IEOs, STOs, you name it. Calculated risks.

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[xvids]

They keep on creating new alt-coin to gain some money then they would leave their project once the offering is done.
It is so hard to trust this new alt-coins since this is what most of them are doing.
Only few of them are really into their project most of them just wants the profit.

[Anonylz]

i think its about time people start thinking before putting money in any project because like you said we have too many project in the market now without anything better to offer except empty promises,
most project owners are just after the money and noting else, no commitment,  no use case from this project, only empty update (sorry to say)  and as a result of this lack of utility, most of this tokens don't have genuine value, unfortunately the market is filled with this type of project.

[chennappa121]

Yes there are lot of shitcoins has been launched under ICO on years of 2017 and 2018 and still continues under IEO, STO, but investors learn the lessons for past how scam ICO has loots funds from investors . now investors are be come smart avoiding such kind of ICO,IEO,STO maybe it can helpful to reduce those things if we avoiding scam ico,ieo,sto. and there are still genuine projects are coming this year like Facebook Libra.

[Samayuki]

For new projects I will only stick with projects from binance or other few top exchanges, these projects can easily be trusted than many huge projects storming crypto space, most of them are money grabbers

[Coyster]

I just don't know why people don't get tired of losing their money to these new projects without even doing deep research.

The "producers" of this altcoin projects do not even need to do too much to deceive their naive investors. With or without research majority of this projects will still be a scam or fail, I stopped researching and investing in altcoin projects last year, too many of them I actually had thought was bringing something different "proved me wrong".

I've said this before, the number of altcoin projects isn't doing the industry(altcoins)good, many projects, so many failed, only the naive enthusiasts will still keep losing their money(investing).

[Teraboy]

I agreed with the article but i don't even think if the new coins were coming to the market were dominated by coins are coming from the ICOs, IEOs, STOs or something else. The fact that so many new developers created their own coin. Basically, these coins created used the source code that available on the market. As long as this source code will always exist and just expect more come will come to the market.
Im getting surprised to see that the amount of tokens and coins on CMC is growing so fast.

[piebeyb]

sometimes when i track it seems like a lot of projects that hold ICOs have the same boss, their goal is to only get money from everyone when the bullish market really comes, look at it even i looked at their previous telegram group they look dead since 2 years ago arrived arrived near 2020 they reappeared in the telegram group and said they would release the project again and develop the project again

everyone will find out like this where people who left their project suddenly came back after the bullish market started this year, but of course not all projects still have funds, if there is still certainly they can come back to life at this time, if not the project they are obviously dead, even their income from ICO, IEO and others has been used up by them and fleeing investors' money until now has not returned, they are again seeking trust in everyone after a long time gone but people will not easily trust the project and maybe will leave it, hopefully in the future there is a project that is really good in this blockchain technology and not a scam

[abeecrypto]

Yes, more people keep putting their money into some funny projects. It is largely due to the believe that the project will succeed in the future. Since more people are willing to take chances, more projects keep popping up,  hoping to attract those people. In the end, it could turn out to be a bad idea.  This situation tends to dent the image of the few Potential projects.
Most people are always looking for a quick way to invest and reap the benefits immediately. They fail to understand that no project would assure them of that.  With such people, more unecessary projects will keep popping up.

[danherbias07]

I really don't get it.
There is a capital for doing this. They will need to have money before starting it.
If it fails, do they get it back? Just get even with all those expenses?

ICO's had been in a difficult state now, even soft cap cannot be reached.
Also, investors are still getting in despite everything that is happening.
There is just too much competition and also a lot of choices with the same range of features. It's exhausting just to dig about each one.

[salad daging]

the ease of creating new coins makes many developers who never stop with his creation. the problem is they are not able to think about sustainability, this is where their steps are hampered and unable to develop further investments in a better exchange, I see they only think of creating and delaying projects collectively with the aim of hoping for profit, but in quality they are not able to prepare for something more fundamental.

[jossiel]

The increase for altcoins is unstoppable but soon they will start to run out of ideas if they get tired of it. Because they will eventually notice that the people are no longer interested with these projects that costs them money and no return by investing on it.

While it's reported that there are devs that are solely making money out of tokens creation, once most of investors notice that it is a sure thing that many of them will stop. As for the stable coins, it's now the governments that's interested making it.

[yazher]

Some of those new Altcoins are made to change some ongoing technologies in our modern world, in other words, they want to create some innovations in modern technology. With the help of the newest blockchain technology and some enthusiastic sponsors for the project, that would be possible. The problem is when there are some good things in this industry, some bad people are taking advantage of it by creating their own Altcoins with the intention to scam people. that's why when you see those new Altcoins that suddenly disappear only after a month of its release, take note that kind of Altcoins are created not to help for advancing the current technology rather it is only created to steal people's money in an innovative way of scamming.

[@prashant]

I think it should , we can not blame every ico for scam ones, there are good project who needs funding but are not able achieve their target because of insecurity among investors . I think we need a body to govern projects so that scam projects can be minimised and investor can choose best project for them.

[btc_angela]

The increase for altcoins is unstoppable but soon they will start to run out of ideas if they get tired of it. Because they will eventually notice that the people are no longer interested with these projects that costs them money and no return by investing on it.

I surmised that all ICO's that are coming out today are just a copy of previous projects. But still newbie investors are still going to fall for the trap here.

While it's reported that there are devs that are solely making money out of tokens creation, once most of investors notice that it is a sure thing that many of them will stop. As for the stable coins, it's now the governments that's interested making it.

"If it broke, don't fix it", I think this is the philosophy of most scam ICO's right now. Rinse and repeat because they can still get investors to put money on their shit project and make tons of money out of it.

[Thomas-s]

Now a very small number of people continue to invest in new projects. people already realized that now is not the best time to buy new coins, but those people who continue to buy at the sales stage are just people who have a lot of money and then they just don’t want to follow what is happening with the price, but just buy for a long time, or it's just fools who don't understand anything at all. this is reality

[Baby Dragon]

i think its about time people start thinking before putting money in any project because like you said we have too many project in the market now without anything better to offer except empty promises,
most project owners are just after the money and noting else, no commitment,  no use case from this project, only empty update (sorry to say)  and as a result of this lack of utility, most of this tokens don't have genuine value, unfortunately the market is filled with this type of project.

They should acquire from their experiences because they will surely end up being in that situation if they keep on investing on some projects without even thinking the possible outcomes. They should realize that most of the project these days are made to take advantage of people and deceive them by words and promises which is clearly quite difficult to fulfill. We should not let ourselves fall into their tricks and techniques, we should think carefully because a mistake can change everything and it can have a huge negative impact on you as an investor. Despite of those projects who ruin the reputation of ICO's, we should also know that some of them are still worth it and profitable. It depends on the person itself on how he/she is going to determine which project is the best. Maybe it has bad reputation but still it can't be the reason why to judge and underestimate the capabilities of other projects. We have to understand that our future depends on how we make our choices and decisions so be cautious and consider your experiences because it will guide you on finding the project that can beneficial to you.

[brownellcharlie]

Yeah, there are lot of altcoins right now in the market which is pretty bad for some users specially newbies as there are some you know "shttttttt alts"

[gweedo]

I still don't understand why they are trying to create new projects in the current period. Surely there won't be any investors interested in ICOs and new projects, because they know it's a scam and they don't want to waste money on it. Investors have become smarter after 2018-2019, so new projects will never scam them again.

[nutriagrigia]

I think it should , we can not blame every ico for scam ones, there are good project who needs funding but are not able achieve their target because of insecurity among investors . I think we need a body to govern projects so that scam projects can be minimised and investor can choose best project for them.

it doesn't have to be some kind of authority. it may be some kind of decentralized platform that will guarantee payments to the project by investors and evenly distribute tokens for investors. the project will also not receive all the funds immediately, but only when it will be necessary to continue the work.