Topic: Drawback of all new cryptocoins!Confusion? - page 2. (Read 781 times)
I have taken note of this and found out to be true. I just realized there are so many scams and unfilled project based on his thoughts, experience and the likes. I believe there will be change of phase and behaviour. Crypto is the only way. Love it.
It doesn't matter for me because i like btc and ether only, i don't think that some other new coins will appear and they will be better and more powerful than bt, which is the leader of the market for long
The creation of new tokens have been exaggerated by now.
Looks like everyone wants to be rich in just a manner of time leading to make an ICO and try to make profits out of it.
It has one more problem. There is no filter with it. Another is, instead of buying bitcoin they tend to go to the cheaper ones and look at it as if it could get a value which is the same as bitcoin which will never happen.
You are also right about the confusion. I remember a lot of new buyers who have bought BCH instead of BTC. The lack of knowledge made them bought the wrong coin.
Looks like everyone wants to be rich in just a manner of time leading to make an ICO and try to make profits out of it.
It has one more problem. There is no filter with it. Another is, instead of buying bitcoin they tend to go to the cheaper ones and look at it as if it could get a value which is the same as bitcoin which will never happen.
You are also right about the confusion. I remember a lot of new buyers who have bought BCH instead of BTC. The lack of knowledge made them bought the wrong coin.
Many of those new coins are just bad projects that will surely not survive and they will eventually die off but the existence of this bad coins is what will make newbies learn and know more if a project is good or bad,that's why we must do some mistakes just to achieve more knowledge.
This new coin's also not same to bitcoin or other altcoins you may now.
Their are such cryptocoins have no potential if they take a long-term trading once the project goes wrong.
Many of those new coins are just bad projects that will surely not survive and they will eventually die off but the existence of this bad coins is what will make newbies learn and know more if a project is good or bad,that's why we must do some mistakes just to achieve more knowledge.
most often, new cryptocurrencies do not solve any problems and are doomed to failure, so I suggest not to pay attention to them
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?
I think new people don't need to afraid of the bitcoin negative propaganda and I hope that they can search by themselves to find the truth. I think if they can learn and find something by comparing with the other news, they can find the real news, so they don't have to afraid or worry. In the cryptocurrency, we have to see this is happening over and over and without learning more about cryptocurrency, we only get panic without any chance to make a profit in the cryptocurrency.
A new crypto currency turning into a scam or a shitcoin from the very start is not bitcoins fault. In fact it is the investor who is to blame that's its highly recommend that people should start be responsible and start researching before investing to not waste money.
More coins is actually a good thing because it creates competition and helps bitcoin improve on its features. Can there be too many companies? Can there be too many restaurants? In the end it will be survival of the fittest and consumers will choose what coin they like to use.
Bitcoin doesn't really compete with altcoins. In fact, I think the relationship is quite symbiotic.
You'll notice that any time Bitcoin crashes, altcoins crash harder. This is because market confidence in Bitcoin is of fundamental importance for altcoins. Bitcoin's reliability is a boon for alts; it's what encourages people to take risks in the altcoin market. If the market lost all faith in Bitcoin, altcoins would surely follow.
At the same time, the existence of altcoin markets draws BTC supply to the altcoin markets (rather than BTC/fiat markets). By lowering available supply on the BTC/fiat markets, the price of BTC is driven higher. This is why altcoins are generally good for Bitcoin.
I think you should just let the market decide overtime. It will be right. Just give these new coins time and most of them will fail, people will realise that not every new coin is good and will be more picky to choose only good projects. Wrong thing would be to now do some sort of a censorship and cut-off scams or bad coins. They will die on their own. And people can only learn from their own mistakes (and unfortunately lose some money along the way).
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?
Most people that really been here before knows what is bitcoin and what is alternative coin, so i don't see any negative effect on bitcoin when some altcoins are scamming other people. It's their choice to select that coin and it doesn't affect the views of most traders.I don't see any other reasons why people need to bash bitcoin when it doesn't do anything to them, it is them who approach the crypto world not bitcoin.
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?
I think it does not affect bitcoin too much. Only the new altcoins appear but it can not occupy too much market share. Conversely, it can be bankrupt when not competing with other altcoins. Bitcoin is still the No. 1 and every activity of manipulation or adjustment is always present in Bitcoin. dont worry about that. 
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?
New cryptos popping up every day is only a good thing if they are good cryptos. If they are crap or are scams then it only harms the reputation of the good cryptocurrencies. As of yet people aren't educated enough in the benefits of cryptocurrencies to tell the two apart. In future the situation will be different, similarly to how people don't say that the Internet is bad because people get phished, they say those people are foolish and should've taken better care.
More coins is actually a good thing because it creates competition and helps bitcoin improve on its features.
sadly i don't think this is true. because i have never seen actual competition between different altcoins and bitcoin. there is always advertisement of competition but then they just get pumped for a little while and as soon as the pump is done everything is forgotten.
for instance if you find topics of last year during first quarter of 2017 you can find many topics talking about how Dash is replacing bitcoin. it got pumped A LOT and then .... nothing.... back to death and silence from this coin. like many others.
More coins is actually a good thing because it creates competition and helps bitcoin improve on its features. Can there be too many companies? Can there be too many restaurants? In the end it will be survival of the fittest and consumers will choose what coin they like to use. Also its clear that people like to have different choices, there is no reason that a lot of different coins can't succeed.
Every coin represents their own purpose and vision. I don't think this causes confusion to people who actually knows about crypto market. Scam projects exist, but that doesn't mean we blame it on crypto in general.
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance".
i don't really know of anyone who actually thinks this way! i have read random comments on bitcointalk from newbies mostly trolling but everyone with half a brain can see existence of 2000 altcoins that 90% of them have absolutely no reason to exist doesn't mean "acceptance"!when it comes to altcoins people have always been "bending the definitions" to match their own need so that they can explain the altcoin situation and come up with a better result. for instance one of the definitions that has been bent is definition of a good coin and a coin that survives. people define it as a coin that has a high market cap and gets pumped a lot without paying attention to underlying project and whether it is good or not!
I have seen this happen. The question is asked "what is a good coin to invest in"
and the answers looked for and provided are always very low value coins that
will potentially pump. The details of a project or how usefull it is is not considered.
I agree that altcoins have been used as a stick to beat bitcoin with in the past by the media
and others and its easy because last year for example the majority of people
outside crypto never heard of bitcoin but the ATH has made a lot of people do
their own research so they know more now.
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance".
i don't really know of anyone who actually thinks this way! i have read random comments on bitcointalk from newbies mostly trolling but everyone with half a brain can see existence of 2000 altcoins that 90% of them have absolutely no reason to exist doesn't mean "acceptance"!when it comes to altcoins people have always been "bending the definitions" to match their own need so that they can explain the altcoin situation and come up with a better result. for instance one of the definitions that has been bent is definition of a good coin and a coin that survives. people define it as a coin that has a high market cap and gets pumped a lot without paying attention to underlying project and whether it is good or not!
The confusion is due to the number of shitcoins that serve no real purpose other than a fancy name. Bitcoin cash also diluted the market and added confusion to newbie, better to just stick with bitcoin
People see this as a good thing that there are different cryptos popping everyday, as this means "acceptance". What I believe is that it is getting people confused! Moreover, this fuels to bitcoin negative propaganda as any sort of scam carried out by them leads to bashing of bitcoin.People don't really understand the difference. What are your thoughts?
I'm not too happy with the number of crypto popping up because it makes bitcoin as the parent of crypto to be always blamed when the emerging crypto has a bad reputation. The impact of fraud that occurs from the new crypto investment makes bitcoin increasingly untrusted by people as an alternative transaction even though the main goal of bitcoin is to improve and even improve the transaction system in the world.
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