Increasing number of altcoin (Good or Bad)?? - page 3.

ropyu1978

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Quote from: ninio on June 15, 2018, 11:37:19 PM

I'm just curious if what are the effect of increasing number of altcoins in the market is it good or bad in crypto currency? Do we really need a lot of altcoins in the market ?.

actually not, but it is very difficult to avoid the birth of a new altcoin, this is because no regulation can be a legal umbrella. there are lots of useless altcoins altogether, and only a few have the quality and the technology.

X-ray

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Quote from: zmeddy on June 24, 2018, 08:35:29 AM

Hello, I think it's bad, because it's hard for newcomers to understand all this diversity. Too many altcoins distract attention from really good projects.

That's why the majority of newcomers must have learned more about the cryptocurrency. I have seen so many times the newcomers have been creating so many complaints about how complicated to choose the promising project. But this time the promising project is very rare. So many altcoin make everyone feeling confuse.

Alaira

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It is good and bad at the same time. The good thing is altcoin can gives a lot of chance to us to invest and make money from investment but on the other hand it makes us litlle bit confused for new comer to invest because there are a lot of altcoin and we also afraid about the scam.

abayan

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Quote from: ninio on June 15, 2018, 11:37:19 PM

I'm just curious if what are the effect of increasing number of altcoins in the market is it good or bad in crypto currency? Do we really need a lot of altcoins in the market ?.

Eventually it is both good and bad it depends how we look into them. Most of technologies are created because of then ico and its really exciting while by taking this ico's and other coins we didn't know how safe it is and what are their real intentions of doing this technologies if its for good or bad we will going to know it when it was all working.

apitico

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I think we don't really need most altcoins. There are good projects that have decided to create a coin, but in fact they do not need it. More often I perceive this phenomenon as company shares.

zmeddy

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Hello, I think it's bad, because it's hard for newcomers to understand all this diversity. Too many altcoins distract attention from really good projects.

meldrio1

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I don't know if it is good or bad the market with these increasing number of altcoins, but I'm sure most of them are just temporary coin it will zero value soon we should careful what we invest these new altcoins.

sukoyomi

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Quote from: ninio on June 15, 2018, 11:37:19 PM

I'm just curious if what are the effect of increasing number of altcoins in the market is it good or bad in crypto currency? Do we really need a lot of altcoins in the market ?.

in my opinion, the new altcoin could have an adverse effect on crypto, as many current altcoins have no potential, such as ico. there is so much fraud, and the altcoin we get from ico is just rubbish, and has a very cheap price, plus airdrop is also very much, thus making all traders and investors begin to doubt with it all.

gudvin1988783

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I think that now there are a lot of altcoyins and every day their number grows. Most of ICO and altcoyins do not need a at all. These are the usual bonus programs and they could exist without a blockchain of technology.

Mr.Freeman

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There is such an idea that the alcoin will be exchanged for that crypto currency, on whose blockbuster they are issued. For example, ATL (Atlant on ETH, and THEKEY on NEO.

kingdomofhearts

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Quote from: ninio on June 15, 2018, 11:37:19 PM

I'm just curious if what are the effect of increasing number of altcoins in the market is it good or bad in crypto currency? Do we really need a lot of altcoins in the market ?.

Majority of these altcoins are going down soon. The problem is that a lot of altcoins have projects that have been set up only to gain more and more money. Those will surely go down in the future

zdvizh9090

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well, because there is a large selection of good companies, many take off, but it's bad because there are so many weak projects on which you can lose a lot

EddyCC

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More competitions is not bad. Blockchain can be adopted to every field, so more altcoins will be created, and bring benefits to investors and companies.

randythered

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Quote from: mazezizi on June 17, 2018, 05:14:38 AM

Quote from: randythered on June 16, 2018, 12:07:28 AM

Quantity does not matter, what matters is quality, we would be better off having 10 fantastic projects than 1000 mediocre projects. Many projects leads to good competition but it can also lead to a market which is less attractive for investors because they have to pick their way through all the crap projects.

Yes, I agree with you. I think that before 2020, many coins will disappear. Quality is the most important thing. Many coins now want to come in and make money, but I think many projects are not good and the market may need a better period of growth.

Yes, I'm sure we will experience something similar to the dotcom market whereby a huge amount of the companies that were around in the early years and raised huge amounts will disappear. Then we will be left with a select few dominant coins. Crypto has been too cash rich lately and that's why bad projects have been able to thrive.

mazezizi

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Quote from: randythered on June 16, 2018, 12:07:28 AM

Quantity does not matter, what matters is quality, we would be better off having 10 fantastic projects than 1000 mediocre projects. Many projects leads to good competition but it can also lead to a market which is less attractive for investors because they have to pick their way through all the crap projects.

Yes, I agree with you. I think that before 2020, many coins will disappear. Quality is the most important thing. Many coins now want to come in and make money, but I think many projects are not good and the market may need a better period of growth.

CryptoTamer

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Quote from: ninio on June 15, 2018, 11:37:19 PM

I'm just curious if what are the effect of increasing number of altcoins in the market is it good or bad in crypto currency? Do we really need a lot of altcoins in the market ?.

Good if the projects of New Altcoins have a fresh concept and continues to be developed. Bad if their project just copies another project concept with little development or their project has no progress.

but unfortunately, most new Altcoins that appear on the market are Shitcoins even some project teams can't fulfill their promise, many project teams are doing a smooth scam to their investors and enjoying project funds to enrich themselves. scammers may swap the project funds to FIAT and this will be bad for Crypto market

Persiville

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Quote from: talkbitcoin on June 17, 2018, 04:20:34 AM

it is more like inevitable than anything else!

when you create some shitcoin you are creating money for yourself. and when it is very easy to do so and you can make a lot of money out of it sometimes, there is nothing stopping you from doing it. these days with ICOs things got way easier!!!

do we need them? obviously not
are they contributing to anything? not at all
are the damaging? of course. they have filled the market and took the top ranks everywhere with their pumps.

I can see the same picture of it though. It is really inevitable, besides because of its decentralization nobody would stop you from doing it. I have heard also some of people or traders that are making money outnof shit coins, at first i really didn't believe them but once i saw how is being done and the worst is that it is very risky, i just ignored it and think another way of earning.

Tipstar

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Increase in number of choices is never bad. Though people may argue a smaller number would have better growth. But that type of growth would not be sustainable and would be a sort of syndicate to limit the options.
One of the features of crypotcoin are decentralization, no central body to control it.

talkbitcoin

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All I know is that I know nothing.

it is more like inevitable than anything else!

when you create some shitcoin you are creating money for yourself. and when it is very easy to do so and you can make a lot of money out of it sometimes, there is nothing stopping you from doing it. these days with ICOs things got way easier!!!

do we need them? obviously not
are they contributing to anything? not at all
are the damaging? of course. they have filled the market and took the top ranks everywhere with their pumps.

Grim149x

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I think that it depends on the quality of the atcoin. But the problem is there are more scam altcoin out there so it's absolutely bad for the space. People who are scammed with those will have a bad experience and they might hate or tell the poeple they know the experience they had with crypto.

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