Topic: Altcoin Numbers Continue Exploding in Spite of ICO History - page 2. (Read 641 times)
Everyone wants to get rich and they are searching for the next Bitcoin which can make them millionaires overnight. Investment sites are full with articles mentioning the crazy returns that the early adapters got out of cryptocurrencies such as Bitcoin, Ethereum, Tron, Cardano and Iota. But the fact that everyone ignores is that for every such successful coin, we had a hundred unsuccessful ones. We may hear a lot about Tron and Cardano. But how many have heard about Pesetacoin or Skyfchain?
Well, it is a very very simple reason why people do this ; money. Think about it, the costs of starting a new ICO or even creating something with just airdrops and not even get funding, means that you will be in control of a coin that is used and exchanged in many platforms. No matter how little you can spend, in the end you will just sell bunch of coins and you will make that money back and profit from it.
So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.
That is the fact, moreover making tokens is not difficult. That is why many fraudsters can do this easily, making teams that appear to be authentic or deliberately making them anonymous, making various scenarios of fraud with projects that seem real. However, the fact that it is only a fraud scenario, some even really just want to raise funds without any real development. That is why we must be truly selective.So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.
To be a selective person is a good thing but there is a lot of problems that we will face it just like so many scammers are doing camouflage and this is the real prolem that faced by the newcomers.
So many experts are not even cooperative to determine which is scam project just like mcafee who are always fooling the new comers.
I'm thinking there should be a barrier or agency that will screen those projects that has launch ICO or IEO. It's been a while to see another eth or neo projects which come from ICO. I know there are too many projects already but there still some new ones that has potential in growing. My suggestion is for those scam projects that wanted to cheat on some sales.
I still don't understand why they are trying to create new projects in the current period. Surely there won't be any investors interested in ICOs and new projects, because they know it's a scam and they don't want to waste money on it. Investors have become smarter after 2018-2019, so new projects will never scam them again.
Maybe those project do want to give it a shot inspite of what did happened way back then. Never ending it is. But mostly experienced investors are the one who usually avoid this on the other hand, new comers who lack the knowledge and the experience as well maybe who still fall into this unfortunate traps again.
Well, it is a very very simple reason why people do this ; money. Think about it, the costs of starting a new ICO or even creating something with just airdrops and not even get funding, means that you will be in control of a coin that is used and exchanged in many platforms. No matter how little you can spend, in the end you will just sell bunch of coins and you will make that money back and profit from it.
So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.
That is the fact, moreover making tokens is not difficult. That is why many fraudsters can do this easily, making teams that appear to be authentic or deliberately making them anonymous, making various scenarios of fraud with projects that seem real. However, the fact that it is only a fraud scenario, some even really just want to raise funds without any real development. That is why we must be truly selective. So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.
When you spend nothing upon creating those tokens, its then addictive to create more tokens to do ICO. I bet those developers keep creating tokens for different side projects they have. If it fails, they can create another later.
I have not see many of the ICO these days having success in collecting their dev funds. They numbers are exploding probably but are not successful.
We need a maximum of 2-3 different coins for different domains. There may be 10-12 different domains in cryptocurrency and therefore the ideal number of cryptocurrencies should be a few dozen. On the other hand, we have thousands of different coins. And this is one of the reasons why the altcoins are going down lately. There is a lot of fragmentation in the market.
We have thousands of different coins but more than 90% were dead coins that are still listed on coinmarketcap. The reason was so many dead coins in the past have already made by scammer and that makes a lot of people are feeling frustate to put more money to the altcoin as it has a huge percentage if the scam coin will always there. The demand can be divided too caused by the new coins keep increase but when the ecosystem goes on the right way and people will think to put fresh money too.
Pretty obvious really, not sure why Beincrypto needed to make an article about it.
Once a cryptocurrency has created, it's practically immortal. I don't believe that most coin listing websites remove inactive cryptocurrencies, therefore the number of coins that will be listed will only grow over time.
Or did you expect people to stop creating cryptocurrencies and blockchain-based assets just because ICOs and IEOs failed as an investment model? Let's be realistic.
With that said, most of the those new tokens are likely absolute trash that have no purpose. We shouldn't be paying them any attention at all.
Once a cryptocurrency has created, it's practically immortal. I don't believe that most coin listing websites remove inactive cryptocurrencies, therefore the number of coins that will be listed will only grow over time.
Or did you expect people to stop creating cryptocurrencies and blockchain-based assets just because ICOs and IEOs failed as an investment model? Let's be realistic.
With that said, most of the those new tokens are likely absolute trash that have no purpose. We shouldn't be paying them any attention at all.
Bitcoin price is on the rise. At the same time, Bitcoin dominance is falling. In this case, altcoin prices will increase. Altcoins still offer a great opportunity to make big bucks. Too many investors have damaged.
The number of new altcoins and stablecoins being offered to the general public continues to increase. This is in spite of the fact that the Initial Coin Offerings (ICOs) that started the altcoin craze have met mostly failure.
ICOs did not start the altcoin craze. Before first ICO happened, I believe it was was NXT, there were already 1000 altcoins. Most were forks of Bitcoin protocol. And NXT ICO happened in 2013. So at least 3 years before ICO craze. Yes with asset platforms like counterparty, etehreum, omni, ... starting a token was only few clicks from everyone. So people made a lots of tokens.
I just don't know why people don't get tired of losing their money to these new projects without even doing deep research. As you can see, only a tiny handful of projects do actually succeed, but most of them failed because of their dependency to the crypto market situation.
Same thing I thought too many times! Why people keep investing in scam projects, why they don't care, don't research! Even you see after too many negative reviews against P2PB2B, Coinsbit, and other shit exchanges but still, they keep investing there, and because of their fool decision, IEO markets are dying too!
Lack of certain rules causes the market not to be taken seriously. Those who wants to start a new business creates his own token. Nobody thinks about the product, the vision, the future. And as time goes on, it will become deeper and a hole will be drilled somewhere. This hole will grow and I'm afraid the future case of market will be bad.
When you spend nothing upon creating those tokens, its then addictive to create more tokens to do ICO. I bet those developers keep creating tokens for different side projects they have. If it fails, they can create another later.
I have not see many of the ICO these days having success in collecting their dev funds. They numbers are exploding probably but are not successful.
Well, it is a very very simple reason why people do this ; money. Think about it, the costs of starting a new ICO or even creating something with just airdrops and not even get funding, means that you will be in control of a coin that is used and exchanged in many platforms. No matter how little you can spend, in the end you will just sell bunch of coins and you will make that money back and profit from it.
So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.
So, there is no reason NOT TO create a new coin, if you have the capability of creating a new coin, you probably should because there are hundreds of people out there who will most likely want your money as well. I personally won't because I know it is shady and immoral to do so but I do understand the shady and immoral people and why they do it, in a world where money is very difficult to come by, potential of making thousands of dollars is a good reason to do so.
As long as we are still having novice in the cryptosphere, shit coins will continue to exist and survive somehow. So many new faces are coming into cryptosphere on a daily basis and they will continue to invest in scam project because they are novice. As long as we have novice we will continue to have new coin being introduced into the market.
The number of new altcoins and stablecoins being offered to the general public continues to increase. This is in spite of the fact that the Initial Coin Offerings (ICOs) that started the altcoin craze have met mostly failure.
It looks like the numbers keep increasing, as they don't seem to care if they fail or succeed.
I just don't know why people don't get tired of losing their money to these new projects without even doing deep research. As you can see, only a tiny handful of projects do actually succeed, but most of them failed because of their dependency to the crypto market situation.
It's the reality nowadays for ICOs, IEOs, STOs, you name it. Calculated risks.
It is normal to invest regularly. This is one of the parts of the financial market, without their money our market cannot be as big as it is now. The market will have these people and others, they will continue to invest in spite of failures and frauds. That's why IEO, ICO or STO always exist and new projects keep coming up. The more I wish for more people to invest in projects, the more money it will bring to the crypto market and make it easier for smart people like me to make money. It looks like the numbers keep increasing, as they don't seem to care if they fail or succeed.
I just don't know why people don't get tired of losing their money to these new projects without even doing deep research. As you can see, only a tiny handful of projects do actually succeed, but most of them failed because of their dependency to the crypto market situation.
It's the reality nowadays for ICOs, IEOs, STOs, you name it. Calculated risks.
in fact it is true, that a lot of projects end with fraud and it might be said that there are currently no projects that are truly successful and profitable for investment. 2018-2019 was a bad year for the ICO project.
I think a lot of the Ico's now are created bye scammers now a days with the idea to just take more money/Bitcoin for them self.
To them it is probably a succes even if they take a small amount of money.
But it is bad for new people that heard about succes story's about Ico's and now they try to invest in the first good looking Ico without doing much research.
They fall for the text full of false promises and advisors.
Back in the day you didn't have many Ico's and you could already see bye the amount of reactions on this forum how big of a community the ico created.
For example Lisk and Waves where to Ico's back in the days I tought looked really good and they where very successful to me.
Now it is very hard to recognize the scammers any good project can be a scammer and you really need to watch out.
For example Savedroid that scared investors proving this exact same point, where they faked scamming everyone and showing you should really watch out.
But their token is worthless now where my 50$ investment is worth nothing now, I feel sorry for the people who invested thousands..
To them it is probably a succes even if they take a small amount of money.
But it is bad for new people that heard about succes story's about Ico's and now they try to invest in the first good looking Ico without doing much research.
They fall for the text full of false promises and advisors.
Back in the day you didn't have many Ico's and you could already see bye the amount of reactions on this forum how big of a community the ico created.
For example Lisk and Waves where to Ico's back in the days I tought looked really good and they where very successful to me.
Now it is very hard to recognize the scammers any good project can be a scammer and you really need to watch out.
For example Savedroid that scared investors proving this exact same point, where they faked scamming everyone and showing you should really watch out.
But their token is worthless now where my 50$ investment is worth nothing now, I feel sorry for the people who invested thousands..
We need a maximum of 2-3 different coins for different domains. There may be 10-12 different domains in cryptocurrency and therefore the ideal number of cryptocurrencies should be a few dozen. On the other hand, we have thousands of different coins. And this is one of the reasons why the altcoins are going down lately. There is a lot of fragmentation in the market.
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I agree that the number of altcoin keep growing each day and this seem normal. The profit from create new altcoin is too high and it make this become a game for whale. They try to build a project with beautiful whitepaper, some high level develop, do high value bounty and use money to push the price. Finally they get huge profit back and this high profit make lots of investors want it. But i bet this will become to the end soon.
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