Why most of ALTCOINS are dead or worthless?

[fib1231]

In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.

This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.

As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.

Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.

[1714662890]

1714662890

[cafoo4161]

In my opinion most of project just created without any project. They just make coins and waiting for high market cap. No one answer why people should buy their coins. For me i join project which have solid project and reminds me i should buy and keep their coins. Like HOX Token which i heard about recently. HOX going to list 3 big exchanges and developing own mainnet and mobile app.

[Winscosinally]

It all started in 2017, when people see how profitable these coins are crypto space became a target for scammers, simple! huge money have been made by scammers in this space and they walk away freely, its investors turn to use research to escape the traps of these scammers

[sockpuppet1911]

In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.

This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.

As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.

Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.

Shitcoins have existed way before that. Since bitcoin there has been numerous pointless projects riding with the term "blockchain" that offer nothing new is made of promises of anonymous devs. This isn't a new thing that started in 2018 or -17 and tokens are just a part of it, before tokens there were clones.

[Hamukione]

I have been a bit away from cryptocurrency the past year.

But from what I have seen that past month where I have come back a bit, it looks like inflation control is one of the biggest killers.

After that, id say it must be that the vast majority has no purpose at all.

The classic coin being launched these days have the ability to set up masternodes and then they are advertised as moneymakers.

"Setup a node and earn passive income".

But in reality, its a waste of power and ram.
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Projects need a solid plan.

What problem are you trying to solve?
What service are you trying to out-compete?

Get everything ready before the coin/token launches, not after.

Speaking from experience.

[avikz]

Majority of the altcoins are dead or worthless because they didn't have any utility as such. Majoroty of the coins were intentionally created to dupe investor's money without having a solid plan to build a solution for the market. We all can see the result now, the market is dead and ICOs are facing a huge credibility issue where no investors are putting their money into it.

I don't disagree to the fact that we had few good projects as well where the owners actually tried to build something serious. But they were also lost with the time and couldn't get back on track due to the downfall of the market.

[Baimovic]

do you mean, the old altcoin registered in the market or the new altcoin that was just launched?
if the old Altcoin you mean is Dead, because it has no further price developments / there is no demand in the market.
Meanwhile, new altcoin depends on the project developer, if the developer can develop their project correctly and have a product that functions according to their road map then still has a chance to continue to grow.

[longyenthanh]

In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.

This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.

As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.

Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.

Actually, you answered the question asked in the topic thread very well. However, I think that not all ideas were pre-planned scams. Unfortunately, but in such young markets, most projects usually fail. The fact that they started drop more and more quickly, was a consequence of the fact that the bear market began. The fact that the bear market lasts so long will make many of them never ressurect again. Unfortunately, but the financial markets are very ruthless, and the more, high risk cryptocurrency market.

[Mahanton]

In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.

This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.

As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.

Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.

You got it right!

Projects that do create coins from other platforms doesnt really give anything new but rather just using it for the sake of money making in most cases.
Yes, weve been flooded by lots of erc20 tokens in the market today which doesnt really offer something new.ETH is the main one and should really be used
but scammers and fraudsters do really make use of this flaw.

[Ken_terrance]

Lack of real usefulness and real use case are the reason behind many dead or failed projects, most of them are just repetitive of old projects and no investors will have interest in them, some are made to just scam innocent people

[elisabetheva]

Lack of real usefulness and real use case are the reason behind many dead or failed projects, most of them are just repetitive of old projects and no investors will have interest in them, some are made to just scam innocent people

I am interested in the analysis of the colleague above that indeed most of the new projects that are developed are only for a momentary profit and do not intend at all to try so that the project can develop properly. the main goal is to be able to get profit and after completing ico, they also finish by taking advantage. so many investors are traumatized to want to invest. there must be a change and good cooperation so that the scam project can be lost.

[TrevorS]

Moreover, most of the coins issued in 2019 repeated the fate of the coins of 2018.
In all the variety of this garbage, only those coins that appeared as a result of the launchers of large exchanges, such as Binance, Bittrex, Okex, Huobi, and so on.

These coins continue to be on the market in the list of the top 100 - 200. No matter how the public is concerned, they have a trading potential.

[adzino]

True. You answered your own question correctly. Most of the altcoins are worthless because they are just the clone of other coins. They serve no purpose or contributes nothing to the crypto currency market. They are just created by the developers and then the price are also pumped by those scam developers. Once the people see the price of that coin sky rocketing, they jump into investing on those coins. But, in the end the developers dump those coins and cashes out their profit. Thus large number of people suffer from losses, and that coin eventually dies with no value at all.

[Twinkledoe]

True. You answered your own question correctly. Most of the altcoins are worthless because they are just the clone of other coins. They serve no purpose or contributes nothing to the crypto currency market. They are just created by the developers and then the price are also pumped by those scam developers. Once the people see the price of that coin sky rocketing, they jump into investing on those coins. But, in the end the developers dump those coins and cashes out their profit. Thus large number of people suffer from losses, and that coin eventually dies with no value at all.

Most of them that ended up dead were created for the sole purpose of getting money for the devs' pockets. They had no intentions of developing their coin into something usable but mere money grab from gullible investors. Those copy-and-paste projects without giving innovative feature are also guilty of screwing people. But I think by now, crypto users know how to detect such crap projects, that's why ICO projects are not selling anymore.

[Hippocrypto]

Moreover, most of the coins issued in 2019 repeated the fate of the coins of 2018.
In all the variety of this garbage, only those coins that appeared as a result of the launchers of large exchanges, such as Binance, Bittrex, Okex, Huobi, and so on.

These coins continue to be on the market in the list of the top 100 - 200. No matter how the public is concerned, they have a trading potential.

Hopefully this will recover after a long period of being silent, and even if these altcoins wasn't able to obtain a good value, giving up isn't a solution. Just stay focus on your goals and keep holding of your asset. Nevermind what's going to happen, at least you're having your potential conpared to those who never tried. If these coins continues to be in the marketplace, isnt the end of it because there's always a bigger chances once crypto world will boom again.

[hahay]

They lost investors because of their own mistakes about making projects based on trial and error and they do not have a real product that can be developed, so it is not surprising when investors are no longer easy to be deceived by scam projects that may still be popping up everywhere, because now they are will only focus on investments that promise large returns in bitcoin and other large altcoins.

[kawetsriyanto]

They become dead or worthless once they have no values on the market. Moreover, if the developers/teams leave them without any information and further development. You won't result in anything if you hold coins with less interest from investors. Then finally, those are delisted from exchanges because of lack of transaction (buy-sell).

[livingfree]

Yes.

The effect that it made was seen by 2018. The quick drop of ICO investors took place by that year and until now, many don't want to invest to ICOs anymore. Even with the replacement of IEO, it's just on the beginning but after that it's no longer on the interest of most investors.

We've got plenty of altcoins already and the ones that are generating or coming to the market, it's up to the choice of the investors and what kind of alt that these devs are making.

[Handsome Boy]

because the altcoin has a project that is not good or has the same idea as another altcoin, other than that the altcoin project has no progress, so investors are not interested to investing in the project and make altcoin from the project become dead and has no price, because no one wants to invest in this altcoin.

[leowonderful]

A lot of projects happen to advertise themselves to a very small target audience or a smaller than expected audience, or as others have mentioned here, just don't ever end up having a stable userbase due to a variety of issues that can sometimes result from fundamental problems. Altcoin demand's since decreased pretty significantly from its highs in 2017, though I wouldn't be surprised if we have another version of 2017 and 2018 with a flurry of newer coins trying to reel in newbies if Bitcoin starts another major bullish trend.