Can the massive creation of Altcoins can be stopped?

Naficopa

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Quote from: kipozer on November 16, 2018, 05:40:55 AM

The creation of tokens today can probably be called the natural process of cryptocurrency tokenization, because today there are a lot of projects that really create new opportunities for people and for the world as a whole.

True, but once the market will fill up, this process will slow down, and maybe even stop. This technology is growing at such a fast rate that soon blockchain can provide a new, better solution that will replace altcoins or maybe even Bitcoin .. Something like Bitcoin 2.0 Who knows?!

Soberb

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You have just observed that more coins have been created. But at the same time, many coins have failed due to their failure to perform well. Now the market is growing highly competitive and it will be difficult to survive without performance. And what is going on is for good reason. I think competition will wipe out bad coins.

kipozer

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The creation of tokens today can probably be called the natural process of cryptocurrency tokenization, because today there are a lot of projects that really create new opportunities for people and for the world as a whole.

jyotianand01

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I feel that it can happen only through regulations but this market is still not regulated. Maybe it will happen in future if regulations comes into force later.

blackhawkeye1912

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A huge amount of money is flowing in the cryptocurrency industry. So, a lot of opportunists are diving into this body of money. They're taking advantage that the industry is unregulated and anonymous. This is where the money is. Some are really creating coins even though they know that it'll not survive. They want to earn money from investors. They can't be prohibited from creating coins. All we have to do is to be diligent not to invest on nonsense coins.

Prosperityforall

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Yes, it can be stopped only in case of some measures to be taken to prevent their creation.
For instance we can suggest SEC to qualify tokensales and make some regulation

paveel90

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Quote from: Gaaara on May 04, 2018, 12:56:20 PM

I was just wondering after the altcoin being successful there have been more unreasonable coin that has been created, hence there are more people will doubt it, and seriously more and more coins has being created just for profit I mean you can gain some profit off of it but its not the reason why a founder should create one.

After seeing so much coin being created and been abandoned with gaining profit from it made me think that if the new coin stops coming then we could focus more on some reasonable coin and some coin that is currently being developed.

Today, the crypto market is a fairly new, young direction among investors. Therefore, it is logical that today there are still pressing problems and difficulties. But I think that gradually such problems can be solved. Including in a few years there may appear ways to combat the problem of massive altcoins.

Barbatos

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Quote from: Gaaara on May 04, 2018, 12:56:20 PM

I was just wondering after the altcoin being successful there have been more unreasonable coin that has been created, hence there are more people will doubt it, and seriously more and more coins has being created just for profit I mean you can gain some profit off of it but its not the reason why a founder should create one.

After seeing so much coin being created and been abandoned with gaining profit from it made me think that if the new coin stops coming then we could focus more on some reasonable coin and some coin that is currently being developed.

I believe that the situation will continue to be similar. Many new altcoins will appear on the market regularly, and we are unlikely to be able to radically change this situation. The only opportunity for investors is to carefully and carefully examine a potential investment project in order to minimize their risks.

NORD YGGDRASIL

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I really agree that the number of new coins that has appeared in the past few years - is simply insane. It is very sad to realize this, but most of these coins will never become mainstream, 90% of them will die and will not even get a listing on the stock exchanges.

Troysen

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I think it can be regulated, it's true that it's a problem that hundreds of altcoins come out every month, just trying to catch people's money off guard, so some filter has to exist, I think the entry barrier to create an alt should be higher, just so that projects that really strive to get support can achieve their goal.

Awoben

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This can be controlled but difficult to stop, like what is happening at US on ICOs now. I believe to do this Ethereum blockchain which gives room for most altcoins to be create needs to place some sort of restriction in creation of smart contracts. That been said project that manage to launch their own blockchain are free of such restrictions, if we try to create a body the will vet projects the decentralized natural of Crypto has been defeated.
In a nutshell creation can be reduced but cannot be stopped

Silberman

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Quote from: aces777 on November 03, 2018, 01:57:31 PM

Quote from: Gaaara on May 04, 2018, 12:56:20 PM

I was just wondering after the altcoin being successful there have been more unreasonable coin that has been created, hence there are more people will doubt it, and seriously more and more coins has being created just for profit I mean you can gain some profit off of it but its not the reason why a founder should create one.

After seeing so much coin being created and been abandoned with gaining profit from it made me think that if the new coin stops coming then we could focus more on some reasonable coin and some coin that is currently being developed.

The only way that the massive creations of new altcoins can be stopped is if there is some kind of regulation put on the market to make sure that the creators have to jump through a lot of hoops to get their coins in the market. If they see that it is very hard to get a new coin going into the market then there will be less people who are willing to put new coins in the market

And that is never going to happen, how can the governments stop people from just publishing their code in a website? How they can stop people from thinking by themselves? What you say may work for those icos that gather hundreds of millions of dollars but for an ico that only gets a few tens of thousands of dollars such measures are going to be impossible to be applied.

fumblingperch

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So far, there will be new ICO appear with the same goals, namely to make money. There are no good projects and it's just a dump of projects similar to each other and without any uniqueness.

aces777

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Quote from: Gaaara on May 04, 2018, 12:56:20 PM

I was just wondering after the altcoin being successful there have been more unreasonable coin that has been created, hence there are more people will doubt it, and seriously more and more coins has being created just for profit I mean you can gain some profit off of it but its not the reason why a founder should create one.

After seeing so much coin being created and been abandoned with gaining profit from it made me think that if the new coin stops coming then we could focus more on some reasonable coin and some coin that is currently being developed.

The only way that the massive creations of new altcoins can be stopped is if there is some kind of regulation put on the market to make sure that the creators have to jump through a lot of hoops to get their coins in the market. If they see that it is very hard to get a new coin going into the market then there will be less people who are willing to put new coins in the market

FiiNALiZE

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Quote from: Shinpako09 on November 01, 2018, 03:56:24 PM

For me, it can't be stop. As long as there are people they can fool. They will always create their coin repetitively to gain profit. Nothing to worry that much because such situation was there even before and if you haven't victimize yet, you really don't need to worry. That means, you are extra careful.

They will continue, I do not want to invest in every coin that is inside of their though it is cool to see how they are helping Cryptocurrency a lot.

SSSegrio

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Shinpako09

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For me, it can't be stop. As long as there are people they can fool. They will always create their coin repetitively to gain profit. Nothing to worry that much because such situation was there even before and if you haven't victimize yet, you really don't need to worry. That means, you are extra careful.

Silberman

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Quote from: fibrolit on October 24, 2018, 06:38:59 AM

I'm not worried about the huge number of new altcoins being created every day. The market will sort out which tokens to keep,what to throw out. And it is our task to learn to recognize scamcoins,it is also useful to learn.

That is fine for the market in general but there are going to be many persons that are going to lose every single dollar they invest in them while the developers of such coins are getting rich with that money and they are not been investigated by the authorities, so the market of icos is slowly evolving in a market where no one would like to invest his money.

mitsarasss

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I think this process will stop only when the ICOs will stops collecting investments completely, or when the inventors begin to analyze projects in more detail and understand how they need their own coins and which do not.

dumplingsandsushi

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Well, the entire foundation of crypto is the blockchain.
And that is open source, decentralized, and distributed so no, the creation of altcoins can not be stopped.
Literally anyone can go in and create one, even me.

but, i wouldn't be too worried about it, try comparing it to the internet.
Does the creation of a lot of websites "crash" the internet or make it less valuable?
Just because someone creates a shitcoin doesn't detract from the others.
In fact, in a lot of ways, it actually makes the real projects more legitimate because there are bad ones to compare them to.

It's not like this will last forever also.
Even the most crazy bubble economies pop sometime.

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