Too Many Altcoins!

[Wend]

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?

To many altcoins but one of them are only display and dont have any value or its only a trash altcoins and not listed in exchange site.
Ill have in my some altcoins in this year unfortunately one of them have no value and abandon by the development of the altcoins. We can avoid this kind of trash altcoins if we search each of them if they are a potential altcoins or not.

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[bitkanu]

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

It looks so funny to see people didn't even try to take a look at the reality rather than say something that doesn't make sense. The major platform was also doing improvement like what has already done by the new platform. That makes the major coin will exist forever whatever how much altcoins that exist in the market.

[joinfree]

That's right but don't forget that it is through these altcoins that we are seeingall these numerous blockchain solutions which are driving cryptocurrencies close to mass adoption. Some are turning out to be shit coins i know but let's not forget there are equally good ones out there so let's not label all of them as worthless.

[Shasha80]

Of course, with many altcoins circulating because the founder of every coin tried to make money by creating tokens. Later they only
need fundraising from investors, by promoting their projects through ICO or IEO. Therefore many useless tokens in circulation,
no wonder it was finally used by scammers to deceive investors. There should be more stringent rules regarding making altcoins,
do not like now that is very easy to create altcoins.

[Danslip]

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

That is so right we don't need any more altcoins, there are already above 5000+ altcoins and numbers of them are rising up day by day. Most projects are useless and people lose a lot of money by investing in such projects. Cause of that l'm absolutely against to create a lot altcoins. It is also so hard to see that they don't care about people who invested in their projects and then people start thinking so bad about this world.

[aemma]

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?

Yes a good number of altcoins founders are creating their tokens just for money, although no one might know the actual number but a very good number of them are doing this, which is why there are many dead tokens in the crypto space with their teams no where to be found and thus the platform already dead. Also, Bitcoin has taken its place in the crypto space which is why it is highly trusted by everyone, in addition, most altcoins are also trying their best in their respective use cases such as Ethereum, Binance coin etc which is why they are growing too. So once again, yes, most altcoins are not good for investing and/or holding because the team are not even ready to develop anything.

[Ayiranorea]

People who are skilled and good at development have found it an easy task to create their own tokens and come up with a project. We can see large number of such projects, and in specific once there was a hype for tokens. It was during the previous bull trend when bitcoin reached its ath value. By the time many such tokens grew big and gained good earning to the developers. Now things have changed and people are aware of the right coins/tokens to invest.