Dissapointments of the creation of the thousands of failed altcoins.

[Masyudhi]

thousands of altcoins were created but only a few managed to survive and thrive in the market. that's exactly what happened. we don't have to be upset about everything that happened. what we need to see, so far the market has achieved remarkable development. In the last 2-3 years, we have seen how the crypto market has strengthened after a lot of distrust of the crypto market. and now everything is getting stronger.
just ignore the failed ones, and we support and enjoy the successful process in the market.

[1714909777]

1714909777

[peter0425]

An inevitable consequence of what it has to happen.  There are a bunch of huge dumps piled up with just says.  Market capitalization is diluted from these reasons.  Instead they put in bitcoin.  Countless have been crying because of that.  Dreams about the moon in a hurry.

It is their own mistake for stupidly expecting easy money while they are entering the riskiest place to invest(but profitable also)

Most cryptocurrencies projects teambe having the purpose to make the profit.Dont expecte assurance If you're in the cryptocurrencies macket.

Higher profit also means higher risk .If you are fear of risk you shouldn't invest at all.

Contentment is the answer, if you know limiting your expectation then no one will lose , without greed.

[Connor Britton]

There are too many altcoin projects. There may be some good projects that have solved some of the shortcomings of Bitcoin, optimized the shortcomings, and brought some innovations. But now many people with bad intentions have entered the crypto market. They The purpose of the project is obvious. It is to simply launch some altcoin project tokens, carry out some promotion, and promote that they can reach a high price, and then the money invested by people who don’t know will be harvested by them. It is too simple to make a project now. There is also no relevant supervision department to supervise this part of the activities, causing great market chaos, which leads people to hold a negative view when mentioning altcoins. However, some really good technical teams do projects because there is no publicity. It was buried like this.

[maxreish]

Investors always look into altcoins that has a good petformance in the market, on top list and have a good feedbacks. Usually, those on the top lists were the ones that has been chosen by investors because they proved their useful significance and improve well as time goes by. It means, those altcoins are well established and old.

Unlike those new altcoins that wasnt sure of it's potential gains. Most of them were abandoned, although there are still few who are good altcoins to invest and has a good objective and product.

[Sithara007]

The altcoin ecosystem is designed in a way, which makes it very difficult to prevent scam projects. For example, there are hardly any restrictions on new ICOs. Anyone can plagiarize an existing white paper, and make some cosmetic modifications and then present it as a new project. And before even 5% of the development work is complete, the team can go for the ICO with a valuation in tens of millions of USD. And the most surprising aspect is that there will be lot of potential investors who are ready to pour their hard earned money in to such appalling projects, despite all the red flags.

[Luffygroove]

Don't ever forget about the principle of cryptocurrency which is decentralization. It means no centralized power or institution behind, people are free to make any projects and people are also free to choose their investments.  It also shows how the jungle law exists,  the strongest win. it also shows the principle of supply and demand, people are free to buy anything they want that's offered by the market.  Your opinion might be valid, but I choose to see the more positive sights. I thought the arise of those projects enriched the current crypto market and diversified investors' choices. It's all back to investors how they choose their investments wisely.

[Teknisi88]

What is the purpose of altcoins? This is the very first question I had when I join cryptocurrency. At first, I was thinking that it has no use for just bitcoin should be the real focus and not an alternative coin. However, later on I learn that altcoins are still great even if it has been created for the purpose as an alternative coin to bitcoin and at the same time other altcoins has projects and could be like also a sort of investment that whenever you get a good altcoin one can earn huge to it.

But there are things that bother me about altcoins,

There are too mnany great altcoins in the market already. In fact there are many of it created and working good as well even listed in coinmarketcap.com having good assets. On the contrary, other altcoins were becoming shitcoins and many investors got scam or being promised good but ended not having a good return. And yet, many are still creating altcoins with the same promise to have a good return. The more altcoins created the more it kills the altcoins system. This is what bothers me the creation of so many altcoins until now and still counting. Here are some of dissapointment of altcoins.

First,  the creation of altcoins destroy other altcoins that could bring their project down. Why? Existing projects with exisiting investor may opt back out in the invested project and switch to other projects. This means that other project could go down and other investor in that project will follow to leave as well in the project and the altcoin will become a shit coin.

Second, Investor will have to chose between altcoins and with so many of them in the market it creates confusion especially altcoins with the same abbreviation or altcoins sound or rhyms the same but are actually different project.

Third, Altcoins were becoming a tool for the scammers to attract investors to invest promise good but then end up scammers. This one is really a big issue wherein the country like the USA had inhibited their citizens about investing altcoins.

Fourth, no assurance. There are too many altcoins and of course aside from investing in bitcoin having some extra would tend to invested in altcoins to get better utility or earnings on it. However, there is no assurance to it that it could give you more return in fact the risk is more than when you invest in bitcoin.

Fifth, staking is one worst things that happen in altcoins. They advise you to stake your money to them and then give you profit but you could not move or withdraw your coins being stake whenever you need to. This is like more an abuse or scam when your money being held up by others and give you only interest as earning. This is not a good deal. They earn a lot of the money you stake and you only get a little from them. Again the worst thing is that once your money was stake you could no longer withdraw and high chance your money will be gone when the team leave or abandone the project running away with your money.

It may be disappointing but not all altcoins are bad. There actually do more good. The only thing are those bad altcoins or shit tokens. The only help we could do is to help scrutinize the projects they posted and making some evaluation if it is not a scam. And if found out that the project was scam the thing to do should be report to the staff or DT users or make a posts in the scam and accusation section. It would also be possible to post in the beginners and help for the newbies to be kept aware.

What say you?


Any opinion to that matter?

The ultimate goal of any aspect of activity in everyone's life is to be happy and successful.
Success depends on confidence as well as competence. The more confident you are, the higher your chances of achieving your goals. A low level of trust results in inaction.
Be a human full of action. Keep taking action, it will strengthen your belief in your ability to succeed.
Confidence accumulates through hard work, through success, and even through failure. So, if you want to be successful in life, Work harder and harder.
Good luck

[yazher]

Altcoins are created for no purpose even with no idea, they just create another token or coin which may get included into the marketcap if it succeeds but not many people really want to hold an altcoin, they invest to make one time profits and willing to take the risk for it. Some newbies invest with no idea this is the reason why scammers took altcoin as a tool to loot money from people with no exceptions.

The reason for this is the easy way to create one token with small fees and with some light promotion and hypes, they create some kind of pump and dump coins and when they evil plan has been successfully executed where they escape without a trace, they will create another one with the same reason again. The list goes on and on until we have a huge list of shit coins nowadays. As you can see some of them are not like that since when they said they have some good backup big investors and their project will go public in the next month, it will come true but only a rare project will do so as we witnessed a great fake project right now is on a scamming-free.

[bahagia93]

Most cryptocurrencies projects teambe having the purpose to make the profit.Dont expecte assurance If you're in the cryptocurrencies macket.

Higher profit also means higher risk .If you are fear of risk you shouldn't invest at all.

Yes, but we can also see that everyone who has invested from the past until now, all of them are people who have considered risks very well so that the fear of each risk has begun to decrease, although there are a few complaints that might hinder their work in the crypto space.

[ethereumhunter]

Most cryptocurrencies projects teambe having the purpose to make the profit.Dont expecte assurance If you're in the cryptocurrencies macket.

Higher profit also means higher risk .If you are fear of risk you shouldn't invest at all.

Yes, but we can also see that everyone who has invested from the past until now, all of them are people who have considered risks very well so that the fear of each risk has begun to decrease, although there are a few complaints that might hinder their work in the crypto space.

Those people know how to manage the risk and they will not invest if they doubt that. They search for more information before investing in anything, especially if they want to invest in bitcoin because bitcoin prices fluctuate from time to time. Those investors will not just invest in the project that they think the project can not give them profit in the future. They know how to be careful to invest in any project.

[Dump3er]

Disappointment is even an understatement. When we look at how many altcoins were created and then left behind without having released even a single product despite the millions and millions of investment from a lot of people, you don't only get disappointed. You would probably feel anger. That anger would even go to another level if you know that the people behind those failed projects were actually scammers who just vanished after making easy money. And it would touch the extreme after knowing that they are not even prosecuted or brought to justice.

I think what many people in this thread here miss is that this is a fundamental part of open source technology. You can't have one without the other. It was to be expected that people take code and fork it into another alt coin. A hand full of those forks did good work, modifications, innovations, and so on.

It is not much different from what is happening with financial products in the banking industry. Take for example the bundling of faulty mortgages into triple A assets and what not. That is just part of the game and not something to be sad about. We want open source software? Ok, so we need to be careful when we use stuff that obviously has been used by someone other than Satoshi to create his own coin (or any other open source code for that matter).

[aioc]

It may be disappointing but not all altcoins are bad. There actually do more good. The only thing are those bad altcoins or shit tokens. The only help we could do is to help scrutinize the projects they posted and making some evaluation if it is not a scam. And if found out that the project was scam the thing to do should be report to the staff or DT users or make a posts in the scam and accusation section. It would also be possible to post in the beginners and help for the newbies to be kept aware.

The cryptocurrency market is an open market and creating a new coin is free unregulated and anyone can create one because it's a free source and you can hire developers to create a coin and it's not expensive to create a coin/token.
Even scammers can create a coin and make it appear legit and in a long term, the market is full of deception, if you are not updated on what to look for on a project, you will lose a lot of money.

[apa don]

I think if you see a lot of altcoins that don't match expectations then consider it a normal occurrence because there are already many like that, altcoins have projects that must be developed to be able to trigger investors to enter and have a value or selling price, if there are no interesting projects There are a lot of failed altcoins.

Yes, it's true, Alcoin failing in the market is a wonderful thing, because they are not able to maintain an existing project, and disappointment in the crypto asset market now is very much felt, because many are serious about investing in the long term or the future, and unexpectedly this all happened.
I just hope that what happens now is not a bad thing in the future.

[ten seventy]

There could be some chance that one day the altcoins will going to improve or will be remove one day recognize onky the establish altcoins.

[tvplus006]

...The more altcoins created the more it kills the altcoins system. This is what bothers me the creation of so many altcoins until now and still counting. Here are some of dissapointment of altcoins....

But we can say it differently: the more altcoins are created, the greater the chance to see a really worthwhile project. This is a market and every developer must contribute something truly new and revolutionary in order to surpass existing projects. And with this development of events, it is impossible to do without scammers, who will definitely be present where there is money and people who do not have the qualifications to understand the technology.

[sherenikaw]

With so many altcoins in the market, it will certainly make many people confused about choosing a coin that is really good to have. that way we can get great results. Actually, this doesn't need to be bothered because there are still many altcoins that really have good prospects and if we choose good coins then we will avoid bad coins or scam projects. being careful in choosing a good project to follow is important so that we can avoid big losses. coin in the market is a competition so we also have to be much smarter in choosing coins that are good.

[traderethereum]

...The more altcoins created the more it kills the altcoins system. This is what bothers me the creation of so many altcoins until now and still counting. Here are some of dissapointment of altcoins....

But we can say it differently: the more altcoins are created, the greater the chance to see a really worthwhile project. This is a market and every developer must contribute something truly new and revolutionary in order to surpass existing projects. And with this development of events, it is impossible to do without scammers, who will definitely be present where there is money and people who do not have the qualifications to understand the technology.

Besides that, we will have more chances to make money from those projects and see which project can survive in the market because only a strong and good project will have that chance.
Those altcoins will compete with each other and when one altcoin can not do that, they will lose trust from the investor, and they will not have a chance to continue the project.
In the end, only a potential project can stay in the market and will get popularity in the investor's eyes.

[Rengga Jati]

Don't ever feel disappointed with the many failed altcoins, shit, and scams. 
because no matter how disappointed, this will not be cured and such a project will not end.
We already know how many projects come up with:
- The concept is more than ideal, very good, and even almost difficult to realize.
_ a project with a good start, but strayed and off guard in the middle, then disappeared
- a project that has been neatly organized, but did not succeed in the ending, tokens have not been listed on the exchange, and the roadmap has deviated far from the plan.
- a project where the token is already listed on exchanges, but there are no good and strong fundamentals, a weak team, or development that doesn't work, so the token quickly becomes shitcoins.
- a project that was fake from the start, a scam.

[el kaka22]

Without failure you do not get success. Do you think that bitcoin was the first coin similar to the idea? There were "online money" ideas going around for nearly 2 decades before bitcoin was created, you know why bitcoin got the best of it and became the big thing? Because others always had a problem, it was never a great fully perfect thing, not like bitcoin is neither because we have seen a lot better blockchain since the creation of bitcoin but at least it was the first non-problematic online coin idea that worked. After that we tried and failed a million times, this allowed us to have thousands of bad coins but also tens of great coins with it, now there are so many different coins that worth so much and I believe that counts for something.

Of course, we should not be investing into those failed ones or the ones that look like it may fail but at the same time it is definitely something we should be thankful for because those failed ones allowed the good ones to improve.

[Mihawk]

Well, your whining about Altcoins I think a lot of people who have been in cryptocurrencies for years already do. The trend is that more Altcoins or Shitcoins are created, yes, you need to keep in mind that within Altcoins there are projects called Shitcoins, if you do that, it will greatly reduce the number of your Altcoins list. With the creation of new projects, it will be necessary to spend more time with research, just focus on those projects with community and that develop eventually. Cryptocurrencies is synonymous with freedom, so it is not interesting to ban and disqualify any idea of creating new projects. You need to learn DYOR correctly and with that you will escape problems avoiding loses.