Topic: Is the large variety of Altcoins hurting the market? - page 3. (Read 16990 times)
The value of a coin does not depend on how many coins are currently created on the cryptocurrency market. The value of a coin depends on its technology and goals, and whether investors like it all and see whether they are promising.
Yes, I think the excess number of altcoins has an inflationary effect on the market, and to a degree siphons funds away from the more legitimate projects. However, this is the nature of the market phase we are in, where hype is still a factor, though diminishing. We have already started to see the market differentiate the coins with the strong brand names and active development teams from the rest, and what would be a healthy sign is for the correlation between bitcoin and the more questionable alts to break down so that they head to zero where they belong.
Having so many altcoins in the market should have given room for competition that will help the crypto sphere to get better but because mist of these coins are scam,the market is suffering.
You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?
It's a good thing for diversity but it's not a good thing because the market becomes saturated with coins that people don't really use. As some people in this thread sayed, the next bull run will show what coins worth keeping and what not.
Maybe no or yes. Having a large variety of altcoins in the market means there are a lot of tokens or coins that are created by team but the mere problem is how they will survive in the long run. Do their tokens has real usage in real life and if no then it's just another shitcoin in the making and probably going in ico just to get money from investor. It's up to people where to put their money and ideas. We need to learn how to control our self and not making a decision that will ruin our investing.
Human activities are innumerable, and if we talk about universal cryptography, I think that a large number of coins and projects not only does not harm, but, on the contrary, strengthens cryptography in general.
I agree. But in my opinion, this immense number of altcoin in the market could be a menace in the sense that it will make the investment decisions bull of ambiguity and chaos. This is because with so many altcoins around, you have to have enough knowledge to spot the right coin and invest in.People who do not have the knowledge might fall preys to the impotent projects and so loose.
The main thing that hurts the crypto market is the large amount of scammers and fraud projects. As soon as the market recovers its value we would finally see much better ICO projects that would finally bring profit.
It is a bad thing in my opinion. Why we have to deal with a sea of shitcoins majority of which are directed on cheating? Definitely it's better to reduce its quantity.
People that are investing in this tokens are hurting the market. When investors would be careful and would search for a good project and not blindly invest in every one, we would probably do not face such bad scenario.
Sometimes the new coins that are being created have a way of bringing in new people into the crypto space and by virtue of that, there is addition of more market capitalization. The major factor that can cause serious reduce in market cap, is the existence of scam coins or projects, that after getting the targets, they would sell all that they got at very cheap prices, but good coins are still bringing about more development and growth in the market.
Yes of course, the variety of altcoins is affecting the market negatively, Any investment in altcoin is bad for Bitcoin, Imgaine if the whole market capitalization is based on just one cryptocurrency, Bitcoin. That will mean a huge level of adoption and increase in price.
it's all temporary. we all understand that very soon 80 percent of those coins or tokens that exist now will not survive because they have no product and they are simply not needed to anyone. it will happen when bitcoin will improved technologically
It seems to me that this, on the contrary, only improves and strengthens the market because people have the opportunity to choose a good project. I am sure that you understand what I am talking about.
Yes, no doubt, as a lot of scams formed, and imagine when 2000 altcoins, and beginners come to the market,and do not understand what to do, and what altcoins to buy?and accordingly take is all nonsense, but as the practice of most altcoins will die out, and will leave the market, and will remain only reliable projects
Large variety of altcoins is not hurting the market infact we need more coins with different ideas and in the end the good ones that we really really need will gain the top attention and this coins will be the ones to survive ,presently we stiil need some new projects so as to move forward and advance more in the technology
Yes of course, the variety of altcoins is affecting the market negatively, Any investment in altcoin is bad for Bitcoin, Imgaine if the whole market capitalization is based on just one cryptocurrency, Bitcoin. That will mean a huge level of adoption and increase in price.
Well, some kind yes. But mostly the reason they don't have a product. For example let's take DexAge. Decentralized exchange. Mostly of products don't even have MVP. They have. They already got a product to develope. Mostly just raise fund for an idea, and after that run away.
Give time for natural selection, he will do everything for us, the weak coins will die, strong will remain, do not invest in shitcoins.
If all the coins in existence or created are still alive and with project attach to it and the all the coins that have been created has value and volume then it's good, but unfortunately with thousands of coins that have been created only coins that are on the top 100 has value.
You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?
Of course it's bad. Because there are so many shit and unnecessary coins, even their presence is damaging to the market. I wish the market had a maximum of 100, and that would work.
Even 100 are too many but it would certainly be more healthy...as it seems this bear market is going on for a good while there is at least the chance that a large quantity oft useless coins will disappear by the end of the year.
IMO opinion large variety of altcoins if they have real use cases & huge user base. The problem with a lot of coins are they dont have user base which makes their project succesful & ultimately builds their ecosystem. But despite having technology & constantly updating their codes & apps they fail on marketing side. Take example of DigiPulse project the concept of the project was great but they gave up in December 2018 because they do not have user base.
You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable. In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto?
it's not a bad thing for me, it will make true coins more valuable and that will be more demand on all coins. it would be better if we do that, we have to start buying coins that are really good and leave shitcoin. Jump to: