Topic: Impact of Unrelenting Supply of new Alt-Coins ?? - page 2. (Read 2598 times)

But people didn't have large amounts of money and/ or years of development tied up in them. That makes the prospect of jumping to a new platform a slightly larger decision.

They were just another website out of millions that people latched on to for a while before floating away again on a whim.

I remember people said that about MySpace. Or was it AOL. Or NetNews.

Go figure.

There are actually many other "Facebooks".  It tends to be a regional thing.  I don't know them by name, but when I travel outside of the U.S., Facebook's penetration is much less.  People are like "we've got x over here, it's better than Facebook".

Anyway, I have wondered if there could be regional coin where somehow its geographic reach was limited by ping times.  Such a concept I don't think is technically feasible at this point.  The mining would basically be proof of work + proof of geography.  Ping times are the only proof of geography that couldn't be faked, at least that I can think of.  I know, why would people want to use a coin regionally that wasn't accepted elsewhere?  Well, maybe they wouldn't, but there are often strong local movements that have grown increasingly popular as a response to globalization.

Mostly, these threads.

well you know, the network effect. one would only want a currency that is supported, and one would only support a currency that is wanted. there can be only one facebook, because everyone uses facebook, and nobody has any reason to use facebook 2.0, or Dogebook, because all their friends are on facebook. you will see these alt coins will be no match for bitcoin in the end. though, Dogecoin is looking promising =P

Alts are mainly bought with BTC so it is only good for BTC price that they exist. Otherwise lot of these coins would finish on USD market instead being invested in alts

Is the promise/potential of BitCoin being diluted by the near constant supply of "new" coins ??

I can't believe that there are enough competent/interested developers/community members
willing and able ( capital and/or time ) to support all these new coins..

The pattern I see is that the miners exploit each coin as it's released ..
The devs and initial community pump the virtues of their particular coin hoping
to attract enough buyers/speculators to absorb the miner's dumping ..
Efforts are made to get the coin listed on an exchange/s to facilitate distribution/awareness ..
The slicker the web-site and coin logo and potential development/marketing plans the longer the coin has "buzz" ..

and then it all starts to just fade away  ......... rinse and repeat and rinse and repeat  ad infinitum  

We've got "coins" for every niche and purpose ..
We've got "world' and "earth" coins .. even DOGE and CAT coins .. ( really ?? )
Why not continent?, country?, state?, county?, city?, corporate?, meme?, cause?, personal? coins  .. etc etc ..
Where and when does it end ??

At this point sites like CoinWarz, Coinmarketcap, Cryptsy can't or won't keep up with the constant issuance of new coins ..

After the intial "buzz", miner pump and dump, and loss of interest from speculators and developers alike has played out;
we're left with partially mined coins of dubious merit/utility that die on the vine until or unless a "rehab" crew
comes in and tries for a second round of pump and dump with plans to "revitalize" the XYZ coin etc ..

So how do the rest of you see this playing out ??  

I know we can't prevent people from launching new coins ..
https://bitcointalksearch.org/topic/edit-450543

AND

What to do with the soon to be growing supply of "failed" ones ??


Triff ..