Altcoin very Big problem

[InwardContour]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

It's true that most crypto projects are baseless, some are copycats, most are scam since most developers just have the sole aim of making money and do not care about developing the project. There are no governing rules restricting developers from copying already existing concepts without modification, or using same project name, just to mention. This is because crypto is not legal in most parts of the world, but this doesn't mean adoption has not been going on over time, it has. We all are aware of these shortcomings but yet we invest because we are optimistic that someday things will be much more better, with reasonable regulations to curb these drawbacks.

[Quintrix]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

That's easy to solve only invest or support altcoins with potential unless you are a big-time investor you should only pick altcoins that are on the top 10 Bitcoin dominance is very huge, that there are few altcoins will have support in terms of price and liquidity.

[pixie85]

You can have similar names but it won't work in the long run. Like BCH used to be BCC, like the infamous bitconnect and had to change even though bitconnect was a scam.

If you steal a name from other project you will never have a chance to succeed. The market will verify and label you accordingly.

As for the lack of global community, many projects have something like that. The worse shitcoin you choose to invest in the smaller the community will be, it's normal.

[toast]

i get what do you mean by that. it's really no legal matter about which coins should be made or what coins should be made since anyone can make their own coin the only matter is the project itself whether it is useful or no.

[kram31]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

Altcoin projects are mostly scammers, without legality a project can be created whenever they want,
and that makes a lot of scammers in altcoin, of course it's a big problem for altcoins if this continues.

True and correct, but We can also get a lot of profit in altcoins where We can't deny that. Although, even there is risk in investing
in cryptocurrency via ICO, IEO, Trading still there is also truth where there is risk there is also a good profit waiting for us
in the end for sure.

[kingzpro]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

These things will settle with time as the market and the community here matures and they start understanding and identifying about real projects and avoiding fake projects or if ever there could be some regulatory agency like UN that gives licenses to teams to raise funds, I am just suggesting this because we need real global solutions and not just from one country.

[ven7net]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

There really is such a problem. Unfortunately, such factors hinder the development of the crypto industry and alienate investors. On the other hand, the crypto market is still too young to have established rules around the world. I would say that the crypto industry is a big startup that is going through a development and formation stage at the moment. Based on this, we can conclude that the entire industry may experience a number of problems until official recognition occurs.

[yohananaomi]

i get what do you mean by that. it's really no legal matter about which coins should be made or what coins should be made since anyone can make their own coin the only matter is the project itself whether it is useful or no.

Maybe this is one of the weaknesses of the existing system? I'm not really sure, therefore doing research is highly recommended and also the product of a project is the key to whether the project is worth investing or not

It is clear and I agree that do not believe too much on the surface but we must also look at the whole because the possibility of doing things that are not praiseworthy will always be done by unkind people. we may believe but we also have to remain vigilant because things like this have become things that are very used to be done.
because if we invest in something and we believe that this is the best and very acceptable.

[bounceback]

During bitcoin and altcoin still illegal as payment transaction I think will be not have altcoin legal, how come you wanna invest with legal coin. Almost altcoin on the exchange market is illegal by any countries just you can invest only without could be purchase as transaction payment. Better to know with fake or real project by looking which one exchange listed, who is developer and how most experience with team and developer for your coin investing, I know with amateur developer will give bad impact for altcoin price and keep lower without any interested from investor to buy coin.

[optimisticcm]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

The scams and frauds are a problem for all kinds of markets and they are here from ancient times but  i agree with the fact that crypto market has to see a lot more scams or fake projects than other markets, I have fallen to many of these crypto scams as well in the past but now i like to stay in top alts only to avoid risks of scam.

[$anounimus$]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

Who said confidence in the crypto market wouldn't increase? Haven't you done any research on increasing confidence in the crypto market every year? if not, I suggest you to make it so you can know more about increasing trust in the crypto market, and one more thing in crypto, everyone is required to be observant in understanding every project that is born and being able to take advantage of every new opportunity so that you will not be easily fooled by crypto scammers.

[Kang TB]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

thats not a big issue my friend because now peoples are smarter than before,
wich mean they will drop their money only to solid and reliable altcoins project buddy, then the fake alt will die slowly but surely

[barbara44]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

Right now as of today, there are coins that made over 10% just today, let alone coins that made 10%+ in a week. If you want list of coins that made more than 10% in a week they are XRP, Waves, Litecoin, susi, cardano, stellar, yfi , etc and many more like these and the coins I listed here are very high level top coins as well. If you want coins that made 10% just today, it is once again XRP and status and aragon and nano which are all top 100 coins (with xrp at 4th).

As you can see altcoins are not in trouble, they do not have a problem, altcoins are doing amazing right now, it is the investors who think altcoins will go down that are in trouble, we do not have any problems with altcoins themselves. You have to just pick them correctly in order to make a good profit.

[Lorokan]

I think you have missed out the point in crypto currency is very vital, and also you missed out on the purpose of decentralization. Decentralization is freedom to do everything on the blockchain rightly and without any interference. So for decentralization to work; it is just normal to have several crypto currency projects.

What matters and that solves this big problem; is for the investors, traders, enthusiasts to ensure that due diligence are followed (concrete researches) before any form of investments.

[BuNga_cute]

I think it's too easy to make projects nowadays, so there are too many projects that have sprung up but ended up scams.
Since there are too many coins right now for no apparent purpose, I agree that this is a big problem. Therefore, always do
research for the coins we are going to buy, because most of the coins circulating today don't have good potential.

[Pamadar]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

thats not a big issue my friend because now peoples are smarter than before,
wich mean they will drop their money only to solid and reliable altcoins project buddy, then the fake alt will die slowly but surely

After some years of existence, investors are now wiser and not just throwing money without proper knowledge.

We all see how this market evolved and now many developers are making sure that they are really offering good usable projects where investors start to follow and assess if it's worht investing. It's no longer by luck but by doing hard research and follow how the community
are working alongside with the team.

[bounceback]

I think it's too easy to make projects nowadays, so there are too many projects that have sprung up but ended up scams.
Since there are too many coins right now for no apparent purpose, I agree that this is a big problem. Therefore, always do
research for the coins we are going to buy, because most of the coins circulating today don't have good potential.

Very easy to make new project and listed on Uniswap will give more positive credit for investor to buy coin because many investor looking for with many new coin listing on Uniswap, you can track with how many investors loss their money after buying new coin on uniswap because they left by developer and price down. I think when creating new coin or project we must have creative ideas how to promote and make many investor wanna buy more. Right now many unique ideas for creating new coin and give higher bonus offer for the investor buy at the first time release with more than 20% until 40% bonus depend with how much do you wanna purchase your coin to buy. But after success when selling coin you must ready for when coin listed on exchange market.

[fridrix21]

Cryptocurrency has a huge global community and it is constantly growing. Also, altcoins every year more and more are eliminated and only those who really have, albeit in the future, but a working product remain. But of course it is worth working in this direction for a long time.

[amarmurgi]

There are many reasons why Altcoin is very problematic. If you see that Bitcoin is now up to 18000 কিন্তু but there are many good coins that have not pumped in any way yet. The reason is that I think the owner of this project is silent about his own profit. He doesn't have any more headaches, so I think if you pump the coin then you will get a lot of profit.

[iTradeChips]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

I do agree with your premise that it is practically almost impossible to see a good project, and I mean a good one. During the past years you have seen many kinds of projects and coins and tokens that were made, some with noble ideas and some with shitty ideas as well like creating shitcoins and such. Also you had encountered tons of casino's and lending platforms and mining projects that it is difficult to choose which one can give you the best value for your money. You will understand why the same coins and tokens were still the same coins and tokens at the top 50 slots and why no new coins or token went up to the top.  You have to be very attentive and curious to know if the project has value or if it is another failed project in the long run.