Altcoin very Big problem

[cryptopediabd]

This is really big problem. Scam online coins or tokens making huge affects to altcoin. That's why investors is losing interest to invest for fear altcoin. Nowadays it's super easy to create altcoin project's.

[Dr.Osh]

Well, that's an obvious problem, and again, the problem with this is doing in-depth research on all the aspects of an altcoin that you'd like to have. however, when there is an altcoin with the same name, research will tell you the real coin. Besides that, if there are 10 new projects that appear this month, the percentage of finding the most potential ones can only be done by research.

[Sithara007]

This is really big problem. Scam online coins or tokens making huge affects to altcoin. That's why investors is losing interest to invest for fear altcoin. Nowadays it's super easy to create altcoin project's.

From what I am witnessing right now, a majority of the new altcoins are plagiarized from the old coins (either completely or partially). This will be clear if you go through the white paper. Even some of the well known altcoins, such as TRX are partially plagiarized from earlier coins. Unfortunately, legal aciton can't be taken against them, since most of the original coins are open source.

[jaberwock]

Blockchain prevents you from mistaking one from the other. You could have a million coins under same name but none of them can share the same blockchain by force, and that allows coins with same names to not be a problem at all.

I actually have invested into a new token now, they are not even listed on coinmarketcap or anywhere else, they are not even on any exchange yet, it will be on 20th of December hopefully. And within all of that, I think it would be funny to not mention they have about 4 other tokens/coins with the same name. Nobody mistakes them because they are all different in blockchain.

Crypto has far superior problems right now, to actually wonder about what would be troublesome with just name resemblance or exact same name are not really that big of a problem.

[Novatech8]

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...

Probably a regulation would do? Im seeing some powerful people talking online that they can only invest in crypto is there is regulations from SEC but honestly I don't know how decentralized and regulations can work, it doesn't make any sense, one of the few reasons why bitcoin came into existence is to get free from the government and their laws, regulations? Think again

[Novatech8]

Nowadays when something about whatever has been popular and has been widely used then, I don't think there is any need for a centralized institution or anything like that. In addition, cryptocurrency has been accepted by many governments, so what else can make you skeptical. That way, even cryptocurrency trading in every country is at least legal and every country at least has its own or local exchange. With this development, I think there is nothing to worry about, because the one who ensures profit and loss is yourself.

Also instead of trying to look for which altcoin is best among the new released projects why can't you go with top 10 or just stay with bitcoin? It's not a most to invest in new altcoins especially if you have less experience about doing research on new projects, as time goes on you will get better at it

[ALLON2017]

Not looking to good for the Alts at moment , the bears are admimant

[zulfi125]

As everyone knows that scammers are everywhere in the world. Cryptocurrency is new and developing globally, and fewer people aware of cryptocurrency; that the reason scammers are more coming into the crypto industry and making scams with peoples. Hence, with time, everyone will be mindful of the scamming projects, and rules will be applicable in the world through FATF, and then there will be less chance to scam with people by the scam projects.

[cryptogod322]

I disagree about the cryptocurrency community, it is already very large and is constantly growing. Yes, you can make several coins with the same name, but what difference does it make if there is only one cool project of them, and it can be easily distinguished from scams?

[ALLON2017]

I disagree about the cryptocurrency community, it is already very large and is constantly growing. Yes, you can make several coins with the same name, but what difference does it make if there is only one cool project of them, and it can be easily distinguished from scams?

It’s up to the individual not too invest in a scam, there’s scams in the stock market as well unfortunately

[Warkop]

I see that there are many Altcoin projects that have the same name there, but in my opinion with the same name there is no problem getting them, because with the same name they have symbols and logos that are very different from each Altcoin, so from there you can search exit which Altcoins you own and which you don't. Maybe that's how I confirmed the same coin name there.

[AssociatesBumble579]

I can understand your concern. What you are saying may be partially correct. But you may be mistaken. Many of Altcoin's names may be the same, but most smart contacts are different. Smart Contract is a transaction protocol that reduces fraud and reduces the number of intermediaries. If you want to know which project is better, you have to read their white paper carefully and you should understand market potentiality.

[HerbertMarcel]

In the pandemic situation, the crypto market has crib-biting in that case some scammers have been included their pump coins or tokens by the ICO. But they don't have approval by the authority of cryptocurrency traders. In this situation, Nowadays, Son coins are granting their value by making stable value. So, there has less problem than before, but also should be careful about the investment.

[Eco_111]

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...

You are right, I have no valid point to say otherwise, I just wish that crypto developers are certified but that's near impossible now, the only thing I'm looking forward to is another better ICO like that involves regulations, if team fucked up they should take full responsibility for it, that's what I'm hoping for

[adekogbe]

i strongly believe that most altcoins present more problems than the solutions that they create, especially for investors.
This has often been a common trend with a lot of crypto projects, the team will create a project that has little to no real world usage, neither does it solve any major problems in thecrypto space, this has often led to too much useless altcoins available to investors and traders.

[Mauser]

i strongly believe that most altcoins present more problems than the solutions that they create, especially for investors.
This has often been a common trend with a lot of crypto projects, the team will create a project that has little to no real world usage, neither does it solve any major problems in thecrypto space, this has often led to too much useless altcoins available to investors and traders.

I agree with you. There are many bad crypto projects out there that are not really needed. But not all alt coins are bad. If you look at ETH for example. There are a lot of active users and investors who like the coin. I wouldn't too negative about all the alt coins because now with bitcoins reaching new ATH every week, we need some alternatives.

[Cvetik56]

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...

What is your point anyway?
The same exact thing happens with "real" physical businesses.
Some of them are scams, some them won't eventually work out and will close.
This does not mean we should not "believe" in business overall, same applies to crypto market.

[LostConfidence243]

As a newbie, you never should invest in experimental altcoins,You can go with the top altcoins and that really will be a good decision for you. Altcoins are having lots of issues nowadays, so before investing anything you have to research the market completely. There are lots of scams, and same named coins are also available in the market. So if you want to play safe then invest in strong project based altcoins and if you want to take a risk If you want to take a risk, please do a proper research before investing.

[Fredomago]

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...

fakes and scam projects are not a Burden of the Bitointalk and even of the Whole crypto community because Everything that will keep us safe has laden already here and there ,all you need to do is study and learn how to prevent from being lured inside their traps .

And also the safest way for you not to fall from fakers ? Ask for the community regarding the target project ,Because for sure Experts and Knowledgeable Members of the community will help you research and understand the Status of the project.

the problem in many Wanna Be investors is they keep digging for the right investment but following their greedy attitude in looking for Buy low sell high in which wanted to catch Big fish ,so in the end the Intention is being covered by desire and ended in losing.

[paglarhat]

The big problem with Altcoins is that everyone is giving different information,
I also have two problems.
One is the D-list and the other is the price dump.
If you keep these two things in mind, there will be no big problem.