It will only be stopped if people stop investing in it and supporting it.
Too many people want to join everything it seems.
Topic: Can the massive creation of Altcoins can be stopped? - page 16. (Read 2583 times)
No you can't because most of the source code are open source and are freely available on the internet. But we can stop the trading of these shitcoins on exchanges. They need to be more strict when choosing coins for their listing.
I'm worried mainly because the majority will find that they won't have lost money in outright scams, just terrible projects. How many ICOs which come out on a daily basis do need or even benefit in any way from using blockchain? I'd argue that maybe 1%.
No, we cannot stop the creation of new Altcoins and we should not even bother about it. the such mechanisms take place automatically in investment sector. The new Altcoins which have a poor idea or a project behind it will automatically disappear when no investor will support it. So it depends on the investors that they should be careful and vigilant about investing in any new Altcoin. But yes there must be some regulation that atleast purely shitcoins which are visible to be shitcoins but are advertised as too great and reach soft cap by such advert must be stopped as they don't have any utility really.
How are you going to decide which "shitcoin" does not have any utility and prohibit advertising for it? I don't think this is the right approach. I think anyone can advertise his business even if it's stupid, as long as he reveals his identity and this way he is legally responsible. People are selling clairvoyant services (psychic reading) which is scientifically false and stupid, but some people believe in it and they are willing to pay for it. You can advertise such service as long as you have legal stuff sorted (registered company, terms and conditions...)So I would say that any ICO or "shitcoin" can advertise, as long as they are not hiding their name so in case they scam investors, they can be trialled in court.
No, we cannot stop the creation of new Altcoins and we should not even bother about it. the such mechanisms take place automatically in investment sector. The new Altcoins which have a poor idea or a project behind it will automatically disappear when no investor will support it. So it depends on the investors that they should be careful and vigilant about investing in any new Altcoin. But yes there must be some regulation that atleast purely shitcoins which are visible to be shitcoins but are advertised as too great and reach soft cap by such advert must be stopped as they don't have any utility really.
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.
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 think its hard to be happend, or i can said the new creations of new cryptocurrency in masssive is Can not stopped
because all of us know, there is no legal regulations on it
so, everyone can create their own cryptocurrency,
but, not all people can develop their crypto, and the crypto without development will be died soon or later
regards
yes all moves here are for their investment like they create new coin then all users will do invest in that or all users get attention by the new like bitcoin cash now so the developer of it already earn big because even bch not achieve what they plan still most of users here do invest in bch when it comes here in crypto actually i buy after the fork in past august 2017 and i already earn by that so it depends in the potential of the new coin and base also of developer so that's basic they sure for their investment but not the users that do investment in the new coin
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 think it's hard to prevent it, especially when it does not control it. So what we need to do is look carefully at each token and find out if this is true of their goals. It's easy to find out if this is a scam by looking at their profiles if they are true and they have not stolen their pictures. 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 do not agree with you. indeed there are some newcomers coin aiming to take advantage early only. but there is also a coin that is not like that. If only a little coin in this world, we are faced with little choice. I am very happy with the presence of many coins, because we can choose and filter out the excellent coin
Wyh it must be stoped. Even you get some money from it. It's will make cryptocurrency more known by many people too. Just let them, maybe some coin will be shitcoin but many of them will be success too.
I think altcoin creation is unstoppable and this is a big problem , I would only few altcoin with fundamentals.
I think massive creation of altcoin it's not a bad because everybody have right to create it. I see in future when every man can receives payment for own work in own currency.
With the way and high amount of shitcoins that is entering into the market daily, I feel it should be stopped. But yet, stopping it has it own disadvantages.
why to stop appearing of new coins? promising coins will be adopted, scam coins will disappear - it's a natural process.
I guess one way we could argue about that is because a lot of people end up being scammed, which hurts the market as a whole.
but at the same time it's their own fault and, as you said, natural process - darwin!
With the way and high amount of shitcoins that is entering into the market daily, I feel it should be stopped. But yet, stopping it has it own disadvantages.
why to stop appearing of new coins? promising coins will be adopted, scam coins will disappear - it's a natural process.
The ICO market is like a food market. A lot of competition and a lot of sellers of food. Most food isn't food at all. You think you ate something but an hour later you get sick. You paid for something, it was really cheap and you liked it when you bought it, but then you get sick. Now imagine 90% of the food sellers sell crap food that make you sick. Will you go to that market again? No, until there are regulations, the food market will be a place to avoid. If YOU happen to know the places where you can buy real food, you're lucky. But as long as crap food is allowed, the market will get flooded by crap food and after a while, you don't know either anymore. 
it's all caveat emptor right now. no one's gonna save you. all this stuff will have to iron itself out and that's how it should be.
the avalanche of crap is not gonna stop. it's gonna get more crappy and more insidious. that'll drag the morons down and push the quality projects higher.
regulation won't stop it. the only thing that will is to let it play out which is exactly what's happening. this may suck for many but it's necessary and natural.
No, it is practically not possible to stop the massive creation of altcoins worldwide, because there will be always countries allowing it or even assist to enforce it to attract entrepreneurs. The only thing you as an investor or user can do is read about the coin you have interest and not just listen to friends or to your stomage. You can also develop a reasonable coin by yourself and this totally independent of whether or not others create huge numbers of coins as well.
Isn't it like other startups? I think it is good to have so much coins if some of them can offer us to real usage and value.
The active demand for tokens, which do not have either a work product, a main network, or a worthy team, has reached zenith, but, as with any other thoughtless purchases, the excitement feeds on stupidity and at the foot of the mountain a crowd gathered with highly raised empty bowls, saddle the next big wave, make good money and retire early.
Why stop the creation of altcoyins? In order to focus on certain specific tokens, do you need to suspend the activities of all ICO projects? An interesting approach. And then how will you differ from those states that now prohibit crypto currency? There, too, are covered with good intentions, such as the need to combat money laundering, terrorism and other such fabrications.
The activities of ICO, although it has its drawbacks, and in many cases their tokens are really useless, but on the whole this activity brings tangible benefits. Their tokens are very useful and necessary for people. Let the market determine which of the created tokens deserve further existence, and which do not. To make it less fraud, investors need to study ICO projects and its team more thoroughly, and then scammers will not collect multimillion sums.
The activities of ICO, although it has its drawbacks, and in many cases their tokens are really useless, but on the whole this activity brings tangible benefits. Their tokens are very useful and necessary for people. Let the market determine which of the created tokens deserve further existence, and which do not. To make it less fraud, investors need to study ICO projects and its team more thoroughly, and then scammers will not collect multimillion sums.
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.
In my opinion we just need one coin and that is bitcoin, you do not need every coin for every other use, we just need bitcoin with all the functions and nothing else, i am sure ICO will be regulated soon because they have raised billions of dollars and majority of them were scams and who knows the rest will fulfill their promise and just fade off with other peoples money. If there is a market adoption for the coin, then it will continue to grow and the rest will die eventually. Jump to: