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mace15
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July 30, 2020, 04:44:33 PM |
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Too many altcoins appearing lately because some are there to scam and just create to make a noise. Even there are many altcoins it is just and right to search which is worth of our penny to invest. Hence, let's not fall for a project that is not worth it.
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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lumeire
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Activity: 1848
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Next-Gen Trade Racing Metaverse
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July 30, 2020, 04:51:58 PM |
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Too many altcoins appearing lately because some are there to scam and just create to make a noise. Even there are many altcoins it is just and right to search which is worth of our penny to invest. Hence, let's not fall for a project that is not worth it.
This is actually pretty clear, if the altcoin is not providing anything innovative and the team is also not doing efforts to make it successful then it is going to be dead soon or maybe won't get listed on any exchange in the future. One must always search the right project that is having potential to grow, not only it gives profit for short term investors but if people are going to invest in it for the long term then it will give huge profit for sure. You can see ethereum isn't a project that developed overnight, it took so many years to make it this much successful that most of the new projects are using it to develop their token. |
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btccrusher
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July 30, 2020, 04:55:15 PM |
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Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Most people are greedy and creating their own coins to take peoples money. Some people are trying to solving the transaction fees and time issue which called as scalability. And finally, Bitcoin isn't ready to use in daily life yet, unless you are using the lightening network, but that one is also just started and a lot of testing needed. |
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Tipstar
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Smart World Global Token
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July 30, 2020, 04:58:31 PM |
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Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
It's a free and unregulated market and it's both good and bad. It's always good to have more options but people and developers would also get divided for gain of individual project which may diminish the overall motive of cryptocurrency. With so much divergence on crypto, enterprises and government would soon dominate the crypto share of market as they have the capacity to bring better tech on crypto and advertise. |
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Argoo
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#SWGT PRE-SALE IS LIVE
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July 30, 2020, 05:28:39 PM |
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Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Most altcoins are tokens that serve some particular specific business. Such tokens have limited circulation and scope of use. Anyone can create new tokens, so no one can stop their development, including their number. We do not need to know all the altcoins, it is enough to select only a few of them, which, in our opinion, have good prospects for growth. A large number of cryptocurrencies are needed as this creates conditions for normal competition. |
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@baoli
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Base.protocol
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July 30, 2020, 06:26:09 PM |
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Yes that baffles me sometimes having gone through white papers and website. So many are created for money no real value. In my own opinion I think some of them needs to be integrated with others.
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Base Protocol (https://baseprotocol.org): One Token to Hold Them ALL | [url=https://baseprotocol.
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Fredomago
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Leading Crypto Sports Betting & Casino Platform
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July 30, 2020, 06:40:46 PM |
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Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
It's a free and unregulated market and it's both good and bad. It's always good to have more options but people and developers would also get divided for gain of individual project which may diminish the overall motive of cryptocurrency. Open for all and it's good in the sense that investors will be able to pick which project are suits for them, while also considering the negative implications where it will divide thoughts about existing market if there are lots to choose from. With so much divergence on crypto, enterprises and government would soon dominate the crypto share of market as they have the capacity to bring better tech on crypto and advertise.
This can happened, big businesses and government can takeover and dominates as they have the rightful resources to take advantage. |
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JFoxOne
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minerstat
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July 30, 2020, 06:50:15 PM
Last edit: July 30, 2020, 07:06:56 PM by JFoxOne |
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Do you ever wonder why there are many altcoins today? ...
No, take it as the whole point of decentralization. Each one of us can have a coin and none is more (or less) important than the other. For what purpose new coins are being created and how are being used is for another debate. It is easier to just accept the fact that they exist and that they have right to. |
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kang_kung
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Activity: 111
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July 30, 2020, 06:54:21 PM |
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Every founder of altcoin creating their token because of money. If they were able to create a good altcoin with features that we need that none other altcoins have then they will become a success. Other new altcoins, if they only have the money as the goal in their mind then they aren't going far. The market will readjust and those will become trash coins.
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doctor877
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July 30, 2020, 07:16:54 PM |
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the reason why so many altcoins were created is to offer competition and improve on bitcoin shortcomings. unfortunately majority are just there to occupy space. we are entering a new phase and many are fading off already. time will come when all useless and valueless altcoins will fade away.
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prehisto
Full Member
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Activity: 882
Merit: 112
Your Data Belongs To You
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July 30, 2020, 07:30:13 PM |
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lol.
Yea most of the tokens are an attempt of making money, also at lease a half of them are dead tokens who were scams.
I hate that those tokens exsist and are in the top 1000 , or top 2000 because this stands in the way of those people who want to fnd legit tokens.
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popeye95
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July 30, 2020, 07:47:58 PM |
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Heck, I think different that today there are fewer new altcoins being created than it used to be. The new altcoin has to be really good to stay afloat and pitch again old altcoins that already well-established with loyal followers. Meaning that if you don't adapt and improve, you will soon be overtaken by something new. Because of this, I welcome a healthy market of many altcoins where every one of them will need to do everything they can to stay competitive. Money is one of the main drives to push them forward so you shouldn't underestimate it.
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BeginToMine
Full Member
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Activity: 434
Merit: 101
https://www.payaccept.net/
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July 30, 2020, 08:05:24 PM |
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When you understand people's mindset towards Cryptocurrency you will realise why there's many projects out there. People feels Cryptocurrency us about money and hence there's no regulations to regulate what tokens is being created and team behind the project they keep on creating projects for the sake of quick money. Reason why I always advice Everyone to do research before investing to avoid scam
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Diamond_Darrell
Full Member
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Activity: 1106
Merit: 103
♦♣♥♠
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July 30, 2020, 08:15:27 PM |
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Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Well, because if you just ask what would you give to bitcoins or satoshi, then no one will give, but if you offer to change bitcoin for an altcoin paper candy wrapper and convincingly tell the legend, then people will believe and change |
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inanilujimi
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July 30, 2020, 08:32:25 PM |
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You are right, all about money, see how many altcoins have died to date? almost countless.
and almost every day there is also a new altcoin appears to decorate the crypto market with a variety of goals that they offer, our task now is to be careful enough in choosing not to get caught into the abyss they have made.
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Santri
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July 30, 2020, 08:51:52 PM |
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I think that soon we will see new leaders and old altcoins will start to die
So do you think if the king of altcoin will also die (ETH)? I think nothing there will be a new leader in Altcoin because ETH is too big and very difficult to defeat |
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rexxarofmoknathal
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July 30, 2020, 09:00:50 PM |
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Most of these altcoins only exist for the sole purpose of helping its creators turn a profit. Despite what their modus operandi is, it's quite obvious that this is the case, otherwise they wouldn't have an incentive mechanism built into their operation.
I try to stay away from any altcoin that already has a successful competitor. If you look in the top 20 by market capitalization, these are mostly the OGs that have a relatively unique use case and actually successfully executed on it. The ones below that are usually copycats trying to step on their turf, and generally failing to do so.
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Thomas-s
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July 30, 2020, 09:38:03 PM |
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people and the market don't need a lot of altcoins. most projects are created simply to scam people and get their money. many projects will soon become a scam and everyone will forget about them except of those people who invested in these projects
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militiariko
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Life is beautiful !
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July 30, 2020, 09:45:14 PM |
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Too many altcoins means several investments opportunities, several tokens to choose from the market and also, it helps you choose the best that you can from the market if you decide to go for blockchain usage.
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Ezravdb
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July 30, 2020, 09:48:45 PM |
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Yes the main purpose of cryptocurrency is to facilitate payment. But you have to know that altcoin is an improvement in the case of payment, meaning that when the network is too congested, it will certainly cause traffic jams, but with the presence of altcoin makes it the second choice for every crypto performer to make transactions.
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