Do we have too many alt coins? | Bitcointalksearch.org

Amph

legendary

Activity: 3248

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Quote from: DrG on August 25, 2014, 04:50:08 PM

Quote from: RaheemRaj on August 25, 2014, 01:36:26 PM

alt coins are probably the future they have time to evaluate the current system of Bitcoin and when/if it fails get to design their product around the vulnerabilities of Bitcoin I think you will appreciate the time given from the developers in the future.

The last time Bitcoin "failed" was the fork last year. The only crypto that gained any traction from that was Litecoin - the number 2 crypto. Of course that was last year and 800 new altcoins have been released since then, but only about 7 of the alts have any development or volume to put them anywhere close to litecoin, let alone Bitcoin.

more like 4k altcoin, hash been released, probably even more, this if we count every shit launched

Quote from: lynn_402 on August 26, 2014, 07:31:42 AM

Quote from: Sonny on August 24, 2014, 08:31:59 AM

Yup.
Those having the programming skills are free to make as many altcoins as they want, but the point I don't understand is why people invest in those shitcoins...

Progamming skills aren't even necessary anymore. There's a website on which you can easily build your own altcoins, if I recall correctly it costs only about 0.02 BTC

it was higher before, now is cheap because no one care about releasing garbage anymore

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: Sonny on August 24, 2014, 08:31:59 AM

Yup.
Those having the programming skills are free to make as many altcoins as they want, but the point I don't understand is why people invest in those shitcoins...

Progamming skills aren't even necessary anymore. There's a website on which you can easily build your own altcoins, if I recall correctly it costs only about 0.02 BTC

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: RaheemRaj on August 25, 2014, 01:36:26 PM

alt coins are probably the future they have time to evaluate the current system of Bitcoin and when/if it fails get to design their product around the vulnerabilities of Bitcoin I think you will appreciate the time given from the developers in the future.

The last time Bitcoin "failed" was the fork last year. The only crypto that gained any traction from that was Litecoin - the number 2 crypto. Of course that was last year and 800 new altcoins have been released since then, but only about 7 of the alts have any development or volume to put them anywhere close to litecoin, let alone Bitcoin.

RaheemRaj

newbie

Activity: 13

Merit: 0

alt coins are probably the future they have time to evaluate the current system of Bitcoin and when/if it fails get to design their product around the vulnerabilities of Bitcoin I think you will appreciate the time given from the developers in the future.

Testing123

hero member

Activity: 561

Merit: 500

http://www.cryptocoincharts.info/v2/coins/info
Indexing 928 cryptocoins with a total 24h volume of 53,102.49 BTC and 7,078,874,268.66 USD marketcap!

Holy crap, we have 927 altcoin already listed on those altcoin exchanges?! Shocked

Bitbirdhunt

member

Activity: 77

Merit: 10

Altcoins are growing like mushroom after the success of bitcoin many had put a greedy eye on this things,

gelar24

full member

Activity: 182

Merit: 101

almost every day a new coin to emerge, and old coins on the market will die lonely.
here I just took to advantage only when the coin in a market crowded

roller24

full member

Activity: 318

Merit: 100

I'm not sure if any of the altcoins made this year are even interested in becoming viable vehicles of commerce.
I opened an altcoin store, and tried to help out the coins I favored, because they all want to be accepted.
Not because they want to spend them, but because it will strengthen the value to investors.
After accepting 10 varieties, in one month, the store has sold $3 in merchandise.
I'm seriously considering dumping them, and concentrating on btc, ltc , drk, and doge.

Chompa

newbie

Activity: 42

Merit: 0

All the altcoins have done a huge job marketing Bitcoin while marketing their own coin since mostly you could only buy them with BTC's. I don't know numbers but 10-25% of all bitcoin volume may be linked to altcoins.

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: FuckItWhatever on August 25, 2014, 06:11:46 AM

Yes. Please make it stop for crying out loud.

You cannot stop scammers from continually making new coins to fleece new money. What you can stop is the free money going to those scammers by educating people new to crypto to consider why they are throwing their money away. Take the fuel away from the fire...

FuckItWhatever

newbie

Activity: 27

Merit: 0

Yes. Please make it stop for crying out loud.

faiza1990

sr. member

Activity: 420

Merit: 250

★☆★777Coin★☆★

Quote from: Sonny on August 24, 2014, 08:31:59 AM

Yup.
Those having the programming skills are free to make as many altcoins as they want, but the point I don't understand is why people invest in those shitcoins...

Most of peoples invest in these just in greediness and some newbies invest because they have no idea what they are doing after losing money then they realize its shit

iawgoM

hero member

Activity: 602

Merit: 500

Yes. Few months ago there were some new alts that had decent launches and weren't scams. Those are still alive today and their prices vary - mostly because of pumps and dumps. It's hard to make something really revolutionary nowadays (it requires big efforts and manhours) to make your new coin any different than bunch of others. I say kill them all and just leave 15 well established coins (tops).

Sonny

hero member

Activity: 868

Merit: 1000

Yup.
Those having the programming skills are free to make as many altcoins as they want, but the point I don't understand is why people invest in those shitcoins...

Pacowomo

newbie

Activity: 23

Merit: 0

Yes we do. 99% are shit.

LorettaAndrews

sr. member

Activity: 434

Merit: 250

We have too many altcoin and too many Shit coin too. Cheesy

Wekkel

legendary

Activity: 3122

Merit: 1538

yes

Again, the concept of (too) many is part of this tool of freedom. If you cannot grasp this, why bother continuing posting on this board?

PangPang

hero member

Activity: 499

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Quote from: bangi on August 23, 2014, 09:44:00 AM

Yes, we have too many.

I see coinwarz or any other exchange list and theres likes 18 alt coins.

18? Check http://mapofcoins.com/ to see 550 altcoin lol.

Among them, there are at least 169 altcoins still trading on Cryptsy.

bangi

member

Activity: 68

Merit: 10

Yes, we have too many.

I see coinwarz or any other exchange list and theres likes 18 alt coins.

PangPang

hero member

Activity: 499

Merit: 500

Quote from: faiza1990 on August 23, 2014, 06:24:25 AM

Quote from: tinof on August 23, 2014, 06:19:28 AM

Quote from: giveBTCpls on August 19, 2014, 12:31:42 PM

99% of altcoins these days exists with the sole purpose in mind of their creators (and community) to bump and then extract BTC from the unsavy/speculators. Do not get fooled by false promises my friends.

Not only are they extracting BTC from fools, they are also dumping BTC for cash.

Not sure if anyone notice, every time there is a successful IPO or new coin, BTC market cap take a huge hit not long after. I am going to guess this is due the developers cashing out their btc.

You are right and as they cash out coins after few days new coin is not in frame and many newbies and investors lost huge money

Yup, and indeed some suspected the previous bitcoin price drop 5 days ago was due to the Ethereum devs dumping their IPO coins.

Topic: Do we have too many alt coins? (Read 6010 times)