Topic: Ban New altcoins - page 2. (Read 534 times)

While I agree something needs to be done here, I don't think banning is neither an solution nor it is aligned to core concept of Crypto (more like an Oxymoron).

While the idea of no restriction sounds cool in the beginning, I am hoping you all agree that it is not sustainable. The options are either Govt/Authorities would come in and throw some restrictions regulations around or  community comes in together and come up with some ground rules. If there is an external regulation, it is hard to say how it is going to turn out to as it is mostly people with no clue writing the regulations.

The best case is for Crypto community to come up with some basic guidelines. Crypto Community need to take a hard look at present practices and cut down on the one's that is really hurting. One such practice is how the marketing of new coins are being done. It is sad to see senior members praising a new coin only to get air drop or other similar options benefiting them. The new comers sees their comments and starts to believe in cost and throw thier hard earned money. How long do we think this can continue before common people start thinking every currency as scam?

I see coins having no info on the page, no dev presence or not even a good purpose to show case why this coin is going to make any difference. The next thing I see is because there is a marketing campaign, everyone is praising the coin. Few weeks down, no one knows where the coin or Dev is. There s strong need for self governance and lay down some rule such as (these are just my suggestion and actual rules may not be same):

Some basic aspects are up and published before coin is launched (things such as wallet, web page, Block explore, Dev info, purpose  and what is different in this coin then 10K other floating coin:-))
There should be a phase where the coin is developed and then launch. Exchange listing, ICO info if applicable should all be listed in Dev phase and good time frame for launch. This time gap would ensure people have time to analyze and also show Dev commitment over time.

I am sure you all will come up with more rule around it....
 

Bottom line, either we take control or someone else will. In case of later, there is no saying how it is going to be turn out to be...

My 2 coins.....

Thank you for your sharing, mate. And then we will all be very rich even we are investing the so-called trash right now. :-)  But banning new coins is ideally accomplished, but in practice, No way.

You can only do it in your country and that's only possible if you are the President or the head of state. But banning new altcoins from coming in on this forum, don't know if it's possible. Just don't know where you got your wild idea, and since you said "its time to ban" (very urgent?) what would happen on the following board then?

https://bitcointalk.org/index.php?board=67.0     > Altcoin Discussion
https://bitcointalk.org/index.php?board=159.0   > Announcements (Altcoins)
https://bitcointalk.org/index.php?board=160.0    > Mining (Altcoins)
https://bitcointalk.org/index.php?board=161.0    > Marketplace (Altcoins)
https://bitcointalk.org/index.php?board=224.0    > Speculation (Altcoins)

You're totally right,the OP might not know what is the cryotocurrency and what is the meaning of decentralizatuon.

Any one in this world can create their own coins if they want and there are lots of coins introduced to the cryotocurrency market everyday but not all the coins will stay here,only the best coin will hold on and the shit coins will fade away in months or years.So if OP want to get profit from investing on cryotocurrency you need to pick the right coins bro.

the coins should be ruled by the free market.
by the rules of demand and supply.
otherwise we might just turning our back on the next big thing by limiting the numbers of new arrivals.

How will you stop this, all altcoins and tokens are not centralized and all of them actually out of control. So, I doubt that this process will ever be stopped, only if all digital currencies will be admitted out of the law all world round and the government will be punish everybody who produce new coins.

I agree with this idea, but the big question is how? We are entering in decentralized placed, then who could do that? Its not decentralized anymore if there are third party regulates. 

And who is going to do the banning? The code for bitcoin and most alts is open source, and anyone can take the code and tweak it and make their own coins. And any customer can CHOOSE to buy those coins. Free market, isn't it?

Indeed, there should be more laws and regulations to limit altcoin.
More and more teams are raising money through ICO to issue a new token, which I think is a very dangerous thing. That could lead to a collapse of the cryptocurrency market, which has created a huge bubble in the market, which is bad for bitcoin.

Sometimes there are beautiful altcoins, it would just take a comission that would validate the next altcoins

Although with more altcoins it does make it harder for coins to emerge as a strong coin in the sea of altcoins we have if the coin has a good road map it will do better than some coin that comes onto the market that people speculate in. Banning new altcoins is almost down the road of regulation.

It will be difficult to define criteria for banning. Of course people will benefit much more if the market will be filtered, but it will be difficult to manage.

I think this would be a very bad idea.  Because new coins give people a chance to get in at the beginning and make lots of money if they missed out on Bitcoin at the start.  And then in gives people more choice of coins. 

It is market) The strongest and best altcoins will survive. It doesn't matter how many altcoins Any market has the same situation

Why there is no need to do such a move because again it would be centralising the market which is one reason why crypto currencies were created to remove any sort of barriers so that everyone can showcase what they have. Yes i do agree that there are a huge amount of shitcoins but the simplest way is we can avoid it rather than complaining.

I really think this is not a good idea at all. If more and more altcoins are produced, the electronic money market becomes more diversified and will attract more people to participate in this market.
Do you think that more and more people entering the market will become better? I totally think so. If the market loses its new altcoins, that means there will be no more projects for us. It will affect the bounty a lot.

This will eventually happen. At the present rate, there could be 10,000 altcoins by the end of 2018 and this rate and level of capital diffusion is unhealthy for the market. A catastrophic crash will occur and all the shitcoins, which is 99% of coins, will become extinct. It's going to be the same as the dotcom bubble.

We don't live in Socialism and Communism in the crypto world. Everyone can create his own currency if he likes. And I think that it is a good sign that everyone with a plan, a solution an a dream can start to create an ICO and collect capital to start development. What if there would be only 10 slots for new currencies per year and a new developer team with a vision and a good white paper could not start because some other sammers already blocked the free spots.
No regulation for me. It's up to us to filter the good from the bad projects and support only the good ones. Start to think before spending and investing money and be responsible for your own decisions!

Limiting altogether coins is like limiting also the growth and its development, its like a business that as long as their is a possibility for it to grow and has a potential and they don't violated any rules or laws who are we to stop it? Competition can not be avoided it means business owners will focus on how they care for their customers...

I don't agree with you. That concept is opposite of how things work, not just in crypto, in life in general.
This is like a competition, but we will decide which one is here to stay. You can't suppress the human mind to develop.