Topic: Is the large variety of Altcoins hurting the market? - page 8. (Read 16976 times)
It depends on which side to look, if in terms of cryptocurrency development, this is good, but if we are talking about the distribution of capitalization, then this is bad!
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 has advantage and disadvantage. For me having many coins and tokens are good indicator of a good market since we can pick a lot of choices to invest with an trade. The verdict here is the token creation, no limit to it. I say we should create a regulatory body to restrict developers on creating many and only those good projects.
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?
But no one can stop anyone from creating their own coins and if people are investing on it means they were trusting those coins as well,they will learn only if they get scammed or lost their money.I am also agree that most of the new projects hurting the cryptos from being adopted by people.
This is a fact we can't deny. I believe the numerous types of cryptocurrencies available in the cryptocurrency space is largely hurting the market. Personally, if I'm looking to participate in an ICO, I always look to sell some of the coins previously in my possession. I I didn't have to sell those coins, my holdings would have generated a fair share of scarcity required to keep the price of the coins stable. Another major reason is that the vast majority of altcoins are absolutely useless and are used for the sole reason of pumping and dumping.
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?
That depends on the how good altcoin is. Remember with the various altcoins and you can't determine which is good or bad, if there was a lot of good altcoins that will be a good impact to the crypto but the opposite thing will happen when bunch of bad coins appear
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.
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.
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?
No, I do not think that a large variety of altcoins harms the general state of cryptocurrency. Investing in cryptocurrency does not occur in a precisely defined amount, but from the demand and necessity of this cryptocurrency. Therefore, if there is a lot of good cryptocurrency, then people will invest more in it, and its popularity will grow. 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?
This is bad, because as stated, the demand and value of others is reduced. it is better to leave the top and most current coins on all stock exchanges as before, and to dry all the rest. 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?
Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..
NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!
well not entirely correct is it, if you remove all these shitcoins it doesn't mean all the money would go into another crypto!
many of the cryptos and icos has received money from outside-crypto sphere investors.
to reply on topic, it does make the market a bit "embarassing", in reality, a few coins alone make the majority of coins redundant.
the next bullrun will bring a few coins up to the top and remove the vast majority of these other ones.
i disagree with you 100 precent. you dont know what ur talking about
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 will not be good for market if more than half of them are garbage and scammer. The market needs to be purified before having a steady growth step
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?
Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..
NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!
well not entirely correct is it, if you remove all these shitcoins it doesn't mean all the money would go into another crypto!
many of the cryptos and icos has received money from outside-crypto sphere investors.
to reply on topic, it does make the market a bit "embarassing", in reality, a few coins alone make the majority of coins redundant.
the next bullrun will bring a few coins up to the top and remove the vast majority of these other ones.
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?
Its a bad thing. It only causes more confusing and makes crypto look bad in general.. imagine if there was only 100 coins, and $100 in crypto..
that $100 will be spread across the 100 coins, making each coin worth about $1 each..
NOW, imagine if there was only 10 coins, and $100.. now each coin will be worth $10 each instead of $1 each..
its the same concept but just on a bigger scale!
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?
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