Is the large variety of Altcoins hurting the market? - page 7.

0t3p0t

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Quote from: Herbert2020 on February 13, 2019, 03:27:20 AM

no, it doesn't work that way.

the only thing that is hurting the market is the altcoin market itself. more precisely, it is about the fact that 99% of the altcoins are completely useless. which is why they don't have any future and that is exactly why the only hope for them is to be pumped and dumped and nothing more.
so the result that you see in the market is a constant decline of the values of all these coins with some temporary uprise (aka pump) and eventually death and replacement by new shitcoins.

whether there are 50 altcoins or 2500 altcoins doesn't make a difference as long as they are useless. but if they begin creating valuable coins then even if there were 10000 of them, they will all be valuable and keep rising.

I agree. We all know that most Altcoins are pretty dependent on the value of Bitcoin that is why market really hurts but sometimes shit projects with shit Altcoins may also be a disgusting part when in comes to investment as majority of these Altcoins are useless. That is why when I am looking for something good to invest I just pick and chooses top 15 Altcoins that has potential to grow.

LeetPoolsOP

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when regulation of the market comes then a lot of coins will disappear and this thing which you are talking about will happen. the whole capitalization will split into basic 50-100 coins

gwaposakon

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I think the increased number of coins in the market create a good and bad effect on the crypto industry. Bad, because it creates confusion and most of these coins just disappear giving bad impression to the market and affecting also the reputation of other good coins. Good in the sense that the creation of these altcoins and their platform boost the development of the technology.

Red-Apple

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they are hurting the market but not in the way you think. in other words if there were only 50 altcoins their value would still be the same as it is today because people aren't willing to invest more than they have already in any of them so it wouldn't make a difference.

their damage is a different one. the simplest one that everyone knows is that they have turned the altcoin market into a shitshow that only pumpers are interested in and the real investors have long gone away.

nizamcc

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Of course, a large number of coins is an important factor without which the cryptocurrency market would be even more dynamic. Now we have a market economy and developers compete for the quality of the product.

davinchi

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

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 doesn't work like that precisely, maybe a bit but not as a whole. If there were 50 coins all of this money combined going to 50 coins wouldn't be reality, some money just goes directly to those coins so if you look at those low volume coins and just delete them and tell people to just invest into top 50 coins they might just withdraw their money and leave. Hence all these altcoins bring in some money with themselves.

If we did that top 50 coins only thing would the marketcap of that top 50 coin would increase ? Sure, it would be the global total market cap of all coins would be less than what it is today. Hence why we have a lot of altcoins that gives us the option to invest into anything we want to. If you want to invest into the most silliest coin out there than you can do that (like doge or garlic) and you would even take it seriously and use that to do whatever you want.

profitgenerator212

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

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?

Sure. And that's all I'm looking forward to, I've been thinking that we should move the investment from shitcoin and focus on investing in altcoin top. Altcoin's price will increase rapidly and many people will pay attention to cryptocurrency. The market will be better and not collapse like now

Imoote

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Variations on altcoins are just an option, if a coin is not much interested, after a long time it will be destroyed or lost in the market, from which we can see which of the many altcoins that people like, so there are no problems with variations altcoin.

lapyshka

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You are not satisfied with the price of coins in the market. But I do not think that this is such a great harm from altcoins. Investors can choose which coins to invest in. In the top 50 or in young unknown projects. Therefore, it is not at all necessary if there are only 100 coins left on the market, then their price will increase significantly. Because the investor can invest not only in the crypto currency.

Script3d

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

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?

And what is the benefits of having the crypto more valuable? it would be still the same with more coins or without, if there's only 50 coins i wonder how much the trading volume would be, It depends on the altcoin if it's trash then it's bad for crypto, if it's good then it's good for crypto.

Omela44

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If the variety of altcoins were really useful and different, it would certainly be good for the market. But many coins are just clone coins and made to make the dev team rich. This is certainly not good for any serious project, be it bitcoin or a altcoin.

Supercrypt

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Quote from: Cryptmuster on February 13, 2019, 07:26:39 AM

I think that prices fall because each cryptocurrency delays a part of the income on itself, this reduces prices, I think that we need a regulator of cryptocurrencies, since a lot of garbage appears.

I believe there will be any possibilities for regulating authorities for altcoins as the whole system is supporting the freedom to create and choose. So, it is your own responsibility to stay safer. You cannot blame others for their actions. Even there are 90% of coins are garbage for the need of remaining 10% we need to tolerate all of the garbage.

Quote from: StarofBTC on February 13, 2019, 07:24:26 AM

arge variety of altcoins is good for diversification purposes but definitely bad for individual coins' growth.

Yes, when there are many coins, most of them may fail to attract continuous investors which may lead to deviation in expected growth given that we are considering only real potential coins. Scammy coins also will be having similar impact as large amount of altcoins will be impacting all the altcoins and bitcoins too.

isen

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Rather, such a huge variety of projects in the first place hits the pockets of investors who have invested their money in projects that eventually turned into garbage.

Cryptmuster

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I think that prices fall because each cryptocurrency delays a part of the income on itself, this reduces prices, I think that we need a regulator of cryptocurrencies, since a lot of garbage appears.

StarofBTC

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

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?

There was a discussion in our main speculation board about how these many altcoins indirectly hurting the growth of bitcoins. That was about how altcoins are misguiding investors and how it was impacting the value of bitcoins negatively.

Now, you are also stating similar thing like large variety of altcoins is good for diversification purposes but definitely bad for individual coins' growth.

karman383

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In my opinion the more types of crypto, the more chaotic the altcoin price will be. I think now that it has begun to be seen with the many new coins that are starting to come in the middle of cryptocurrency, is it making prices and market conditions better? I don't think at all, it actually makes the condition decrease dramatically. For me that's the cause. Confusing for me.

therhslv

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

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?

More possibilities for people . Its like there is loads of different Vines , beers , Fiats , cars and so on . Why should we have like 10-15 different banks in country if you can have one

I would say its good , as it employs people and there is new people coming in to learn what is blockchain and how to code lets say on ETH or any ETH based token

Denton

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I think that a large number of altcoins simply makes it difficult for new investors to enter the market. Because if he has a bad understanding of crypto, it will be difficult for him to decide which coin to invest in. In addition, a large number of shitcoins also makes inexperienced people think that crypto is a complete fraud.

dodgecharger

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I think that cryptocurrency is too concentrated in 50 tokens. This is not a good thing. Only competition will promote the development of cryptocurrency. Therefore, in recent years, countless cryptocurrencies will be born. Only with continuous progress and development will cryptocurrencies survive.

btc_angela

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Quote from: Atheneum Blockchain on February 13, 2019, 12:56:33 AM

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?

The only downside with the huge amount of crypto right now is that majority of them are just shitcoins and nothing has to offer and it suckered most of the funds of unsuspecting victims. But then again, we are a free and open market, who are going to stop someone from developing their own shitcoins?

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