Altcoin Numbers Continue Exploding in Spite of ICO History

[gundala]

Well, it is a very very simple reason why people do this ; money. Think about it, the costs of starting a new ICO or even creating something with just airdrops and not even get funding, means that you will be in control of a coin that is used and exchanged in many platforms. No matter how little you can spend, in the end you will just sell bunch of coins and you will make that money back and profit from it.

So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.

That is the fact, moreover making tokens is not difficult. That is why many fraudsters can do this easily, making teams that appear to be authentic or deliberately making them anonymous, making various scenarios of fraud with projects that seem real. However, the fact that it is only a fraud scenario, some even really just want to raise funds without any real development. That is why we must be truly selective.

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[Obito]

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.

Maybe those project do want to give it a shot inspite of what did happened way back then. Never ending it is. But mostly experienced investors are the one who usually avoid this on the other hand, new comers who lack the knowledge and the experience as well maybe who still fall into this unfortunate traps again.

[bgaf]

I'm thinking there should be a barrier or agency that will screen those projects that has launch ICO or IEO. It's been a while to see another eth or neo projects which come from ICO. I know there are too many projects already but there still some new ones that has potential in growing. My suggestion is for those scam projects that wanted to cheat on some sales.

[VanDeinsberg12]

Well, it is a very very simple reason why people do this ; money. Think about it, the costs of starting a new ICO or even creating something with just airdrops and not even get funding, means that you will be in control of a coin that is used and exchanged in many platforms. No matter how little you can spend, in the end you will just sell bunch of coins and you will make that money back and profit from it.

So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.

That is the fact, moreover making tokens is not difficult. That is why many fraudsters can do this easily, making teams that appear to be authentic or deliberately making them anonymous, making various scenarios of fraud with projects that seem real. However, the fact that it is only a fraud scenario, some even really just want to raise funds without any real development. That is why we must be truly selective.

The problem is so many trusted medie right now are getting pair to promote. Some scam projects can also be promoted on the mainstream crypto news site like cointelegraph or even etherscan.
To be a selective person is a good thing but there is a lot of problems that we will face it just like so many scammers are doing camouflage and this is the real prolem that faced by the newcomers.
So many experts are not even cooperative to determine which is scam project just like mcafee who are always fooling the new comers.

[Sithara007]

Everyone wants to get rich and they are searching for the next Bitcoin which can make them millionaires overnight. Investment sites are full with articles mentioning the crazy returns that the early adapters got out of cryptocurrencies such as Bitcoin, Ethereum, Tron, Cardano and Iota. But the fact that everyone ignores is that for every such successful coin, we had a hundred unsuccessful ones. We may hear a lot about Tron and Cardano. But how many have heard about Pesetacoin or Skyfchain?

[Warkop]

Most of all making new Altcoins is like that, they just prioritize the money they make rather than thinking about the ICO project they have run at the time, because I'm sure they don't just make Altcoin for 1 or 2 projects, surely they will make more in a few a project to deceive everyone who wants to invest in their project, so for all those who want to invest in a new project, it's better to find out the identities of all their teams so that everything is clear and not included in their perceptions to commit fraud again.

[samcrypto]

I'm thinking there should be a barrier or agency that will screen those projects that has launch ICO or IEO. It's been a while to see another eth or neo projects which come from ICO. I know there are too many projects already but there still some new ones that has potential in growing. My suggestion is for those scam projects that wanted to cheat on some sales.

It will be hard if there's an agency because we don't know who has the legal authority to regulate new projects. If there's an update with the ETH platform then they should be the one to regulate those new projects that are coming in the market, there should be a team regulating those projects that is under the platform of ETH. ICO's and IEO's are coming in, they really don't care about the market status because they just want to scam people. If the new project really deserve the spot in the market, then they will survive and continue to grow over time.

[anjiitem]

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.

Maybe those project do want to give it a shot inspite of what did happened way back then. Never ending it is. But mostly experienced investors are the one who usually avoid this on the other hand, new comers who lack the knowledge and the experience as well maybe who still fall into this unfortunate traps again.

It is true that what is often trapped are new investors and new investors are a good target for scammers because of their lack of knowledge and experience in the cryptocurrency world that makes them easy to get into the trap of scammers and actually not new investors due to some old investors also still often trapped in it because the scammer always has his own way to be able to lure others to be interested in participating in the project.

[biddicoin]

I'm thinking there should be a barrier or agency that will screen those projects that has launch ICO or IEO. It's been a while to see another eth or neo projects which come from ICO. I know there are too many projects already but there still some new ones that has potential in growing. My suggestion is for those scam projects that wanted to cheat on some sales.

actually, it already exists. Exchange makes their own IEO for sorting new project
if the project wanna hold fundrasing they need to fill requirement from exchange first, then they can do fundrasing

but the "agency" is from the organizer, it would be possible to not objective
if what you want is from government or anything, at this time it doesn't exist

[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.

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.

Because they don't study the history of ICO's and all they think is that they'll still get a chunk of profit upon investing. But it's not like that anymore because it's on totally new situation now and it's about to die.

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.

Yes, with that idea. They will recycle all of those ideas and the habit that they have with the previous projects that they've done. If the first project they've made became successful, later on they will abandon it to create a new one.

[mrdeposit]

I'm thinking there should be a barrier or agency that will screen those projects that has launch ICO or IEO. It's been a while to see another eth or neo projects which come from ICO. I know there are too many projects already but there still some new ones that has potential in growing. My suggestion is for those scam projects that wanted to cheat on some sales.

actually, it already exists. Exchange makes their own IEO for sorting new project
if the project wanna hold fundrasing they need to fill requirement from exchange first, then they can do fundrasing

but the "agency" is from the organizer, it would be possible to not objective
if what you want is from government or anything, at this time it doesn't exist

İf all the exchanges had been honorable, would we have encountered so many scam ieos? We need somebody neutral about this. Perhaps this may be a government-based or any voluntary institution. Someone who will not sell the meaning of truth for money.

[joseyphil82]

We have more scammers in crypto space today so its sure that many of them will want to get their hands on any money they can grab from innocent people, I'd say just ignore most of them, only very few with rare use cases are worth checking out

[xZork]

It's too easy to make a currency so junk coins are everywhere. The development team takes just a few taps to get a coin and then sells them and leaves.
In 2017 with the ICO boom, a lot of fraudulent projects made millions of dollars but now the ICO has lost the trust of investors so the new ICOs are mostly failed.

[uray]

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

With the halving coming up the scammers does not care about coming up with new projects just to make the maximum benefit and ride the bull run and they are not even concerned about the projects they are just looking to accumulate the coins before the rally. Investors who are thinking about big profit must think about the risk and make their own decision rather than falling victim.

[killerfrost]

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

I also choose the same as you, just trying to find new projects from Binance. I consider this to be the safest option for me when I want to invest in new projects, and the profits that IEO at binance brings are also numerous. Since the beginning of 2019, I have successfully joined 3 of their IEOs and it helped to offset the losses in 2018. Btw Binance just announced they have a new IEO project that is WRX, you can search and read about it

[Chainsmokers]

It's too easy to make a currency so junk coins are everywhere. The development team takes just a few taps to get a coin and then sells them and leaves.
In 2017 with the ICO boom, a lot of fraudulent projects made millions of dollars but now the ICO has lost the trust of investors so the new ICOs are mostly failed.

The large number of scam projects ultimately makes investors hesitant and unwilling to take risks in investing in new projects and most of them choose not to invest in new projects but prefer to invest into the top coins. This is a natural thing to happen when many projects end in failure so investors don't want to take a big risk with what they will invest.

[Kersh768]

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.

To read the full article, click here

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.

I agree and have noticed the same thing which is for me I find no relevance because mostly the newly created and launch projects that offers new coins for the part of Altcoins just share the same features and it seems that it is just a quick idea due to the reason that those ideas have already created before and it just keep on getting over and over again. New Altcoins just make the market crowded due to the fact that there are already lots of existing cryptocurrencies within the market in which most of them are not valuable and I find it unworthy for their existence. I am not saying that all Altcoins are unworthy but most of them do and only few of them have the potential and the capacity to grow and be beneficial for the investors.

[BChydro]

Because they don't study the history of ICO's and all they think is that they'll still get a chunk of profit upon investing. But it's not like that anymore because it's on totally new situation now and it's about to die.

It is not because they do not study about the market, they just do not have the idea to make things successful nor wanted to complete the project, all they want to do is to come up with the idea and start collecting money and they know that they will get some investment and that is what they are looking for, stay away from any projects that are coming up in the next one year as all are eyeing for the market rally to cash out.

Yes, with that idea. They will recycle all of those ideas and the habit that they have with the previous projects that they've done. If the first project they've made became successful, later on they will abandon it to create a new one.

They recycle the same idea again with a new marketing strategy and that is happening in the market for a long time.

[isaac_clarke22]

The risks just seemed like going higher.
I can see that one year that investor would be just have enough on losing their money especially the day that they'll go broke. Risk is just almost the same us building up your business outside crypto. Do those devs make an adequate research anyway, like sort of feasibility study inside the internet so that they'll know that whatever they have in mind is gonna be booming and surely gonna pay off to their creation.

[Rikotin]

on the one hand because of their dependence on the crypto market situation, on the other hand because investor confidence has collapsed after seeing 2 seasons of many ICO fraud projects & projects delayed. maybe if the market has improved and the ICO Project shines again then investors will take part in it again. I believe 2020 is a good year for the cryptoqurrency market again.