why are there so many coins and the reason why some developers failed

[TimeTeller]

There is no way to stop fraud in the crypto community, every greedy dev comes with a new project and they rebrand the new one to scam more users. Victims fall into this trap and they learn such "expensive" lessons after the exit scam. Lack of funds is the second reason why the developers prefer to abandon project and logically market price goes to zero on a specific altcoin of the project. The choices are simple, never invest bigger than you can't afford to lose in the new projects and do your research before investing in the newly launched crypto projects.

The major problem that I've seen in most abandoned projects is that the dev team themselves have no long-term plans for the project itself.
A lot have the intentions to create a cash cow and milk those naive investors. This is the truth for most of them.
So they will create a substandard project with generic roadmap and whitepaper and handled it anonymously.
Some are good in marketing their project even without any product to sell. Sadly, some users fall on this bait.
The funding is just a secondary reason that I've seen to be the reason of failure. But the top reason for me is dev team is just here for quick cash.

[PrivacyG]

The major problem that I've seen in most abandoned projects is that the dev team themselves have no long-term plans for the project itself.

Developers do not have long term plans for the project because the project had no utility to begin with.  A project has to start with a long term plan if you want it to succeed.  If you do not have one, chances are you will not find one mid-way either.

-
Regards,
PrivacyG

[bittick]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money,

They only have competence to grab money but not to develop a proper platform to be used by the investors or public.

forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Caused by the main purpose of them to create the new project to be money grabber aka scam project. they have no intention to develop the platform. they have not competence to do that.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)

This must not be the reason. Some kind of platforms can be created easily even without funding.

2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

The purpose of this project is only being money grabber and grabbing some money from the market already enough for scammers.

[Silberman]

Most of the projects that are starting, they have the same problem in funding. And that's why they're doing crowdfunding because the picture is clear that they need more capital to continue their goal. But this is being abused by many developers that once they're funded from the investors, they're not going to fulfill what has been promised as they've made money from the investors. Well, there's no bind or contract and that's why they can easily get in and out from it.

We also need to recognize that the developers are asking for too much money they do not even need, satoshi created a bunch of new concepts and put them together to create bitcoin and he did so without any external investment, now those developers want millions and millions of dollars when their circumstances are nowhere near as adverse as they were for satoshi, so people are becoming skeptical about their endless calls for more money to be invested in their project.

[TelolettOm]

The most reason why there are so many new coins or tokens is the desire to get money from their projects. They know how much they can earn by making a new project, selling the tokens, and also making people trust that their project is worthy and promising. At least, they need to sell their tokens as the soft cap, so they can continue their project. Additionally, money is very sweet. That is why many developers are only concerned with the money that they will earn. But they will forget and will not care about their projects once their token sale has ended. This really often happens in the crypto world. Moreover if they are scammers. Thye will probably create new projects again to get money again.

The next reason is that they are lack of the professional and experienced team members. Sometimes, experiences of team members are very important to exactly know and trust the project. They can see the track record of the team members, so they will believe or not the project. The experienced teams wil also know and udnerstand more about what they must do to make their project excatly succesful and continuing

[juanda]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)
2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

I totally agree with your opinion about many altcoins failing to market and developers failing to launch. they should not focus on the "money" they are getting now but they should focus on making the "money" in the longer future. and many altcoins fail because they do not have strong fundamentals so that altcoin development stops and fails.

[Abiky]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)
2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

Exactly. Most developers are into making money, instead of believing in the technology. That's the reason why there are so many coins on the market right now. What we've seen lately is a new wave of tokens emerging from existing smart contract platforms aiming to take as much money from investors as possible. Blockchain networks built from scratch (eg: Bitcoin, Litecoin, etc.) are often a rarity these days. Not to mention, PoW-based cryptocurrencies are becoming scarce as developers shifted their focused to PoS due to "environmental concerns".

The vision of a decentralized blockchain network that provides real use cases to the world is slowly fading away to oblivion. If this keeps up, Bitcoin may end up being the only coin that will not end up corrupted by greed. In this world, money talks so expect to see more useless coins come up with the purpose of enriching developers themselves. Just my opinion

[LUCKMCFLY]

The major problem that I've seen in most abandoned projects is that the dev team themselves have no long-term plans for the project itself.

Developers do not have long term plans for the project because the project had no utility to begin with.  A project has to start with a long term plan if you want it to succeed.  If you do not have one, chances are you will not find one mid-way either.

-
Regards,
PrivacyG

I think that the biggest flaw that a project can have is not only its devs but the fact that they do not put it on a level 1A exchange, if this does not happen, the community itself will probably punish the project by doing massive dumps, causing the price to drop. fall, and since most of the time these projects survive it is thanks to their community because they go down, this happened in 2017 in a privacy project that I followed and which I started in the crypto world, it is a pity that there is gone to the floor not only because of their devs but because they started treating investors badly and not having a level 1A exchange.

[Jackl87]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

The reason why there are so many projects that appeared in the last few weeks and months and still keep appearing is quite simple, 95% of them are all sh*it-coin or meme-coins if you want to call them that way. People are just trying to make some quick and easy money without putting any effort into a project that is the reason why they are the Dogecoin clone number 1123. To "launch" your own sh*it-coin you literally need only 1 hour or so. You take a generic website template fill it out with your stuff, then you create a BSC token and that is pretty much it.
Thank god the sh*it-coin hype is slowly dying at the moment and i am pretty sure that in a few months only a handful of them will still be around.

[eaLiTy]

~
Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

It is an open market where everyone can raise money to start a project and it is difficult to monitor what a project does after raising the money, majority of the projects does spend time in creating a good white paper to get the initial momentum but fail to convert that into useful product and that is a real concern we have seen throughout the years.

One thing that needs to change is, if anyone raise money they need to comply with the promise to the investors, if not they should be liable to return the funds and if that happens we might see a drastic change in scams and shitcoins.

[goldkingcoiner]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)
2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

I have worked with a lot of projects and I can tell you downright the first and foremost reason for failure is when a project brings something that obviously does not need nor will ever need blockchain out into the world, and then the project team expects investors to flood in by the millions for their hyped up, superficial bullcrap development.

Thats the sad truth and nobody ever wants to hear it. Especially if they spend months and months on developing it. CEOs want to get into the blockchain/crypto hype but have nothing of interest for people in the cryptosphere.

[freedomgo]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)
2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

Exactly. Most developers are into making money, instead of believing in the technology. That's the reason why there are so many coins on the market right now. What we've seen lately is a new wave of tokens emerging from existing smart contract platforms aiming to take as much money from investors as possible. Blockchain networks built from scratch (eg: Bitcoin, Litecoin, etc.) are often a rarity these days. Not to mention, PoW-based cryptocurrencies are becoming scarce as developers shifted their focused to PoS due to "environmental concerns".

The vision of a decentralized blockchain network that provides real use cases to the world is slowly fading away to oblivion. If this keeps up, Bitcoin may end up being the only coin that will not end up corrupted by greed. In this world, money talks so expect to see more useless coins come up with the purpose of enriching developers themselves. Just my opinion

As long as money talks, greed will always be around. And once the greed is high, expect that the project itself will always been a low valuable and will not meet the demand of its community. Though there are developers that are more focused on their goal, having less greed that motivates them, but some of them still failed. “There are lots of reasons that crypto projects fail, but at the end of the day I think one of the most important parts of a successful project is building a strong community,” Alan Chiu said, the chief executive of Boba network and Enya. Not because that their technology does not work, but because they haven't galvanised a community that cares about their mission. https://capital.com/cryptocurrencies-that-failed-and-why

[Silberman]

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)
2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

I totally agree with your opinion about many altcoins failing to market and developers failing to launch. they should not focus on the "money" they are getting now but they should focus on making the "money" in the longer future. and many altcoins fail because they do not have strong fundamentals so that altcoin development stops and fails.

But that will require developers to act in good faith, it will require that they are interested in actually developing something that works and that has a use case, but we know that most the time this is not why those developers are creating those coins, they are only interested in the money, this is why they put so much emphasis on the marketing of their coin and so little emphasis on actually creating something that works, which is why a great deal of the community doesn't really care about altcoins anymore and instead they just care about bitcoin.

[kentrolla]

New coins or projects failing is not new and it will continue but we need to understand the impact and figure out a way to avoid investing into such projects because there are projects which gets failed before getting into funding stage i have worked for one such project while I was managing the campaign and there are other projects which are designed to fail due to fraudulent mindset of developers who just want to scam investors and doesn't bother about the technology or project as they take bits and pieces from other projects to make their whitepaper and have some flashy website and those who are not well versed with crypto domain end up investing into it.

I think if a project has worthy technology then they will surely get invetsment as that won't be an issue but the team should be trustworthy and verified, projects don't fail they are intended to be failed if the team is not just behind money and obviously they get free advert through bounty through this forum as they will shill worthless token and abandon the projects.

[isaac_clarke22]

~

This is pretty much it in the end.
There are also shit-businesses outside crypto and by the next week you look into their place, it's already closed down or placed as "For Lease" at the best. It's those buyers that keeps feeding this shit devs and makes them come back to even shit more in crypto space.
Still some other people are into shitcoins regardless claiming that they're earning "short-term profit".

[jc12345]

Most alt-coin projects are scammed or devs that want to make a quick buck, which in my view is also a scam. Back in the day 2014/15 there was a coin launch every second day and sometimes ninja launches. It was fun and musical chairs but almost all price graphs look the same. People mine the new coin at launch and then the community shouts for an exchange and when it gets listed it pumps and then people dump and then greedy n00bs sit with bags and for months cry about it. Most price graphs look the same sharp rise then sharp decline and then gradual decline until it is dead. A lot of projects also fail because the dev teams do not address the fundamental issue of sustaining the demand for the coin/token they are launching and when demand drops the project dies.

This sort of sums it up. Post 2015 more established alts started to land like Ethereum, Polygon, Binance etc. So there are alt-coin projects that are valuable and where the dev teams are clued up and want to make a difference and those projects succeed. Sometimes it is extremely difficult to spot if a project will succeed or not.

[Vaskiy]

Most of the time the project doesn't have any key elements. Someone who has got technical knowledge will learn and try to make money out of the air. This is the reason why most of the projects fail.Apart, there are projects that fail out of lack of investment and promotion.

It is possible to list few projects that have got into the market and then failed due to lack of development. Further after years the same project is developed and are successful. So, it is all about the key elements and the team working on it with the growing technology.

[vv181]

To put it simply, most of the projects can be achieved without incorporating cryptocurrencies, their business model can simply just exist without a so-called blockchain that will solve all things and as a buzzword for their funding. I rather say they are all lack of concept rather than vision as you've stated, but the silver lining is, they are mainly here just only for money instead of the continuity of their projects.

Regarding, funding, I believe that is not the case, if the project is worth enough attention, the community are batting an eye into it.

[judeafante]

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.

As an investor, we should always check the motivation of the developers and we can see that if they are not dedicated to the fulfillment of their roadmap and stop communicating with the community, in the first place investors invest because of what they've seen on the roadmap and whitepaper, this is where the potential starts but if the developers are not motivated investors will dump the coin and the project becomes a failure.

[Pelana vreo]

Lack of commitment, there are many new project developers who don't show their team and they have an idea then raise funds and and some successful projects, For example Bitcoin, Bitcoin does not have a team, but has a community that can help satoshi while carrying out the idea. I don't mean to compare it to the OP, but the idea and product is the key to the success of a project