Topic: Is the alternative cryptocurrency market flooded? (Read 2444 times)
Yep.
This is why im not really interested to see the announcement section on altcoin since almost every week or even day a new coins has been launched which really reduce my interest and most of them have the same stats or features and i dont see any coins which really interest me. Just like what happen to Zcash hype many people do invest but it didnt convinced me at all.
Yes thats true, Everyday Im here in forum I did not check
the announcement section of altcoins. Because others news
there was not gives me interest with to invest in. Likes Zcash
coins, I thought this coin was reliable and has a good project
to look forward to but I doubt it right now.
I think as long as there are market segments possible to disrupt, there will always be an argument for new alts, particularly those with an application or focus. Blockchain technology is still really new and it is impossible to predict what markets it will eventually penetrate. Based on this assumption, there are likely to be many alt opportunities which are currently exploited. That being said, one should still research the projects and only participate in ones which differentiate themselves from the crowd.
This is why im not really interested to see the announcement section on altcoin since almost every week or even day a new coins has been launched which really reduce my interest and most of them have the same stats or features and i dont see any coins which really interest me. Just like what happen to Zcash hype many people do invest but it didnt convinced me at all.
Yes thats true, Everyday Im here in forum I did not check
the announcement section of altcoins. Because others news
there was not gives me interest with to invest in. Likes Zcash
coins, I thought this coin was reliable and has a good project
to look forward to but I doubt it right now.
these days everyone with the smallest amount of programming knowledge (as much as a hello world! project) thinks they can start a new altcoin. and all they have in their little minds is money. that is why we keep seeing lots of ICO scams, and too many coins that are dead in the waters before they can even stay around for a couple of months. so yeah the market is flooded bad.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I decided to start this discussion, not as a means to distribute negativity or defect the credibility of projects alternative to bitcoin (I myself am a supporter of numerous blockchain projects other than bitcoin), but merely as a means to get some feedback and thoughts from the bitcointalk community regarding the Alternative cryptocurrency market as it stands as well as the too many coins that are just worthless.
1. Is the alt coin market flooded?
2. As a result, is the current status of the alt coin market more than likely to scare off new to crypto investors/traders because of the fact that almost every other day a new ICO is on the cards and in most cases the information presented might be overwhelming to anyone outside of crypto?
3. Do you think we are becoming/have become more of a "penny stocks market" in the view of the general public other than a true and feasible alternative to the world economy?
4. Has the rise/era of crowdfunding done more harm than good toward blockchain projects and the now more than 600 crypto currencies in circulation?
5. What can be done to improve on the overall perception associated with cryptography/alt coins from an outsiders perspective?
6. Should websites that list altcoins such as coinmarketcap remove the majority of the coins listed or at least list according to far stricter criteria?
These are just a few questions I've been toying with and formulating my own opinions toward. Please feel free to add to these questions and give your own feedback and ideas about where we are and where we're going?
Thanks
1. Is the alt coin market flooded?
2. As a result, is the current status of the alt coin market more than likely to scare off new to crypto investors/traders because of the fact that almost every other day a new ICO is on the cards and in most cases the information presented might be overwhelming to anyone outside of crypto?
3. Do you think we are becoming/have become more of a "penny stocks market" in the view of the general public other than a true and feasible alternative to the world economy?
4. Has the rise/era of crowdfunding done more harm than good toward blockchain projects and the now more than 600 crypto currencies in circulation?
5. What can be done to improve on the overall perception associated with cryptography/alt coins from an outsiders perspective?
6. Should websites that list altcoins such as coinmarketcap remove the majority of the coins listed or at least list according to far stricter criteria?
These are just a few questions I've been toying with and formulating my own opinions toward. Please feel free to add to these questions and give your own feedback and ideas about where we are and where we're going?
Thanks
i am trying to answer this question but i am sorry if my answer its not correct.
1. yes, the alt coin market is flooded by many of altcoin.
2. maybe, i think every devs want to give a new innovation and new experience for their investor and their community and its happen with almost of the ICO. they offering many benefit for the member but sometimes they forgot, what will they give for the investor and the community after the ICO is finished? many of them is not make any good movements, as long as their coins are in the market, then they are fine but its wrong. if they want to stay exist in the market with good price, then they should continue with the project and there are no word to stop until the dev is broke.
3. i think yes, because people in out there don't think that "we" are exist in our world which is we are playing with crypto currency and they will open with one eye to us and underestimate of crypto currency.
4. its not harm for people with much of money, but for people with less of money, yes it will harm.
5. i don't know with this because i only a person that want to make money in crypto currency and i don't think too much.
6. coinmarketcap is a good site that could help us to know what is the coins that maybe can help us to make money and it should be there for our guide.
This is why im not really interested to see the announcement section on altcoin since almost every week or even day a new coins has been launched which really reduce my interest and most of them have the same stats or features and i dont see any coins which really interest me. Just like what happen to Zcash hype many people do invest but it didnt convinced me at all.
Thanks for all the feedback gents. Lots of interesting views here.
If this isn't a factor with Eth's 14 second blocks, why not?
I am sure it is and I mentioned this in a previous post:https://bitcointalksearch.org/topic/m.17071136
Even if I had a single GPU solo mining Eth, say 1/100,000 of total hashrate, wouldn't you still expect to have 1/100,000 chance of hitting a block?
Not quite, you would be wasting quite a bit of that on orphaned blocks, due to the lag in receiving a new block.The big miners, on the other hand, have immediate access to their own blocks, and usually fast internet connections (a cost that does not grow with mining power), economics of scale pushes toward centralization.
This is an issue for all coins, but is a lot worse for fast coins (Etherium) than for slower coins (Bitcoin).
Rate < ~100s => scam
Promise of riches => scam
Too many bells and whistles to be credible => scam
Disagree. Too subjective. There can be exceptions.Promise of riches => scam
Too many bells and whistles to be credible => scam
Those coins give highly super-linear rewards to large miners because new blocks are found long before the previous block can reach everyone, thus, whoever has the biggest mining farm monopolizes mining.
If this isn't a factor with Eth's 14 second blocks, why not? Even if I had a single GPU solo mining Eth, say 1/100,000 of total hashrate, wouldn't you still expect to have 1/100,000 chance of hitting a block?
Rate < ~100s => scam
Promise of riches => scam
Too many bells and whistles to be credible => scam
Disagree. Too subjective. There can be exceptions.Promise of riches => scam
Too many bells and whistles to be credible => scam
Those coins give highly super-linear rewards to large miners because new blocks are found long before the previous block can reach everyone, thus, whoever has the biggest mining farm monopolizes mining.
An analogous issue appears with encryption software, where companies wishing to attract people with no special knowledge of cryptography use unreasonably large key lengths in a "more is better" contest.
The extreme example is http://www.meganet.com/, which uses a one-million bit key for "unbreakable virtual matrix encryption", needless to say, I would feel much safer using Salsa20/20 (256 bit) with SHA3-512 (key||message) as a MAC, (yes, you can do that with SHA3, it is not vulnerable to length extension).
My point is that faster blocks are only good to a point, and quickly (pun intended) start leading to problems.
With my "Promise of riches => scam", I was mainly targeting Ponzi scams like OneCoin and The Billion Coin that promise to make investors rich overnight.
Those "coins" will collapse as soon as people stop joining fast enough to sustain the exponential.
It really is very flooded,but traders and investors are still looking for new coin to play,because there are still a lot of money to be made here,but in recent weeks ICO has been ruling the altcoin section there are 2 to 3 ICO being launch a week,this is where dev make a lot of money.
This is the dilemma for speculators, is they don't know the technology deep enough to really know if what they think is correct.
When something as white bread as STRAT (known Dev, .NET version of BTC plus shiny objects)...
Is trading at 700% of ICO in the icy depths of an Alt Bear Market...
The situation is hardly hopeless for anyone committed to analyzing the Announcements section...
Or even just following 5-10 Hero Members that stay on top of things.
Overthinking this sector is almost as bad as underthinking it.
I will just say that entirely avoiding the altcoin sector is going to be a humongous lost opportunity. Perhaps the greatest opportunity of our lives.
Whether speculators have the sense to pick wisely as you apparently do, is really just nature. Some will, some won't. That is what makes a free market.
The answer is yes, yes, yes, to all of this. I've said this in other threads like these that come up. There are too many coins out there, and nobody is ever going to use any of them for anything other than passing back and forth and playing the bagholder game. They're all crap. For me, it's basically bitcoin or bust.
all is shit.
This is the dilemma for speculators, is they don't know the technology deep enough to really know if what they think is correct.
When something as white bread as STRAT (known Dev, .NET version of BTC plus shiny objects)...
Is trading at 700% of ICO in the icy depths of an Alt Bear Market...
The situation is hardly hopeless for anyone committed to analyzing the Announcements section...
Or even just following 5-10 Hero Members that stay on top of things.
Overthinking this sector is almost as bad as underthinking it.
In any case, looks like another Bitcoin fever is about to be ignited in 2017, so we have another mad gold rush likely coming at us soon. So expect the altcoin sector to go even more bananas crazy as a result...
Remember what LTC did in the 2013 bubble! It will probably be a different altcoin in the 2017 - 2019 time frame, which does another 100X rocketshot (maybe 1000X from the lowest prices).
Looks like a serious breakout to ATHs is within months:
Note they need the raise the upper limit of block size (while lowering the average block size with the one-time SegWit compression) in order to accommodate surge load and also one of the flaws of Lightning Networks is it can place very high surge load on the blockchain.
So although this isn't the fix for the long-term, it is a near-term solution to open the throttle on Bitcoin adoption.
Remember what LTC did in the 2013 bubble! It will probably be a different altcoin in the 2017 - 2019 time frame, which does another 100X rocketshot (maybe 1000X from the lowest prices).
And so as I told you: Bitcoin Price Watch; Breakout Time!
Looks like a serious breakout to ATHs is within months:
Core is working on a 2mb hardfork proposal, testing is in progress! Amazing news!
" 4) Some of us also agreed to work on another hardfork proposal including a 2 MB "no wallet changes necessary" block size bump, which we've been making progress on over the past year, including even after conclusion of the original agreement (there is currently a testnet for an incomplete version running)."
http://np.reddit.com/r/Bitcoin/comments/5gcg98/will_there_be_no_capacity_improvements_for_the/darfdyg/
" 4) Some of us also agreed to work on another hardfork proposal including a 2 MB "no wallet changes necessary" block size bump, which we've been making progress on over the past year, including even after conclusion of the original agreement (there is currently a testnet for an incomplete version running)."
http://np.reddit.com/r/Bitcoin/comments/5gcg98/will_there_be_no_capacity_improvements_for_the/darfdyg/
Note they need the raise the upper limit of block size (while lowering the average block size with the one-time SegWit compression) in order to accommodate surge load and also one of the flaws of Lightning Networks is it can place very high surge load on the blockchain.
So although this isn't the fix for the long-term, it is a near-term solution to open the throttle on Bitcoin adoption.
Re: is it time to start seriously talking about a $5000 BTC
They will play you as well, because you'll be the one who sells too early when the price rocket goes into a phase transition run to ATHs. They will eventually do that after they done shaking weak hands out. Your stance can be characterized as another form of weak hand because of selling too soon into a bull run.
The first bubble to $1200 in 2013 was the first hump of the typical new technology invesment. The second major hump is the big enchilada and you should never sell except possibly to trade to altcoins to increase your BTC, if you are so inclined and are astute at such speculation.
BTC appears to be currently at either the early 2007 or the late 2009 point on that Amazon chart.
If we are at the late 2009 correlation, then $1000 will be scaled in 2017 and we will not go back below $1000 after that.
And yes something in range of $2500 - $5000 over the next couple of years looks plausible and even likely.
Just look at the events around us to see what is accelerating:
https://bitcointalksearch.org/topic/m.17077372
https://bitcointalksearch.org/topic/m.17077124
https://bitcointalksearch.org/topic/the-country-with-the-highest-demand-for-gold-just-outlawed-gold-shit-got-real-1703213
https://bitcointalksearch.org/topic/m.17056883
https://bitcointalksearch.org/topic/m.16842246
https://bitcointalksearch.org/topic/m.16921886
https://bitcointalksearch.org/topic/m.16972102
It Is Just Time.
Time is upon us for BTC to make another big move up. Don't be late to board the train because you are irrationally too cautious:
https://bitcointalksearch.org/topic/m.17049006
I expected a correction because the price went too high too quickly. Most of the time when we see it spike high like that, it will come back a little.
They will play you as well, because you'll be the one who sells too early when the price rocket goes into a phase transition run to ATHs. They will eventually do that after they done shaking weak hands out. Your stance can be characterized as another form of weak hand because of selling too soon into a bull run.
The first bubble to $1200 in 2013 was the first hump of the typical new technology invesment. The second major hump is the big enchilada and you should never sell except possibly to trade to altcoins to increase your BTC, if you are so inclined and are astute at such speculation.
BTC appears to be currently at either the early 2007 or the late 2009 point on that Amazon chart.
If we are at the late 2009 correlation, then $1000 will be scaled in 2017 and we will not go back below $1000 after that.
And yes something in range of $2500 - $5000 over the next couple of years looks plausible and even likely.
Just look at the events around us to see what is accelerating:
https://bitcointalksearch.org/topic/m.17077372
https://bitcointalksearch.org/topic/m.17077124
https://bitcointalksearch.org/topic/the-country-with-the-highest-demand-for-gold-just-outlawed-gold-shit-got-real-1703213
https://bitcointalksearch.org/topic/m.17056883
https://bitcointalksearch.org/topic/m.16842246
https://bitcointalksearch.org/topic/m.16921886
https://bitcointalksearch.org/topic/m.16972102
It Is Just Time.
Time is upon us for BTC to make another big move up. Don't be late to board the train because you are irrationally too cautious:
https://bitcointalksearch.org/topic/m.17049006
However what we need is sidechains and forks, not altcoins.
Sorry but I think you are technically incorrect (about the security and viability of the side-chains concept). And it is also why I think Rootstock is another shitcoin.
I am not going to go off on this tangent right now.
This is the dilemma for speculators, is they don't know the technology deep enough to really know if what they think is correct.
Of course it is understandable that you would trust the vast expertise of Blockstream, that is until you consider the conjecture that their alleged business model might be corrupting their judgement:
http://btcmarketwatch.com/2015/08/the-blockstream-business-plan/
But it is not for me to be altcoin police, so feel free to speculate on what ever you think.
Flooded? No way!
I'd like to see more ideas more experiments using blockchains, and more people doing it.
Some of the best stuff is yet to come.
I'd like to see more ideas more experiments using blockchains, and more people doing it.
Some of the best stuff is yet to come.
You are right. In order to have real innovation we need a lot of failures first. This can only happen if you let people experiment.
There are a lot of scam altcoins out there. Obviously. ICOs are quick and easy money for those who are experienced enough to seem like that they are doing something legit this time, but really just repeating the same smart contract and smart monetary management idea over and over and over and over and over again.
Still, bitcoin can be drastically improved. However what we need is sidechains and forks, not altcoins.
Still, bitcoin can be drastically improved. However what we need is sidechains and forks, not altcoins.
Jump to: