Topic: more newly emerging coin, will bring a positive impact or negative effect ? (Read 142 times)

Consider it this way. You are going to a store to buy your favorite cake. Previously they had two type of cakes. Now they have 100, from different producers.

Is it good or bad for you?
Now you have more to choose from. However, you would like to try them all while still always buying your favorite cake. It means you will spend more money, or have a fear of missing out. But maybe not, maybe you are satisfied as is.

Is it good or bad for a producer?
As for the original producer, new producers are now taking a part of her/his income as other buyers may not be like you - they will choose and continue choosing a different cake instead of the original.
However, the original producer will now strive to make it's cake even better, or maybe cheaper, in any case, she/he will strive to stay in front of the competition. Being there is now a better choice - more buyers will come.

However, if most of the new cookies will be put in the front of the store without a proper quality control - maybe some of them will be bad which will divert customers somewhere else.... in this case maybe some of them would even be rotten, which means someone will get sick and more customers will stay away.
But there will also be more and more cookies and more and more producers with good ideas who will want to get their share of income and will make great cakes.

Can you draw some analogies?

Market is being saturated day by day. This is somehow a better point for the development of crypto world that people will be having much choices for their investments and trading. But I think problem comes when these coins don’t have much stability in the market.

They sneeze to death within a short span of time. There are huge number of coins emerging in last couple of years but they didn’t survive.

Depending on how you look at it, there are positive and negative effects

On one hand, some of the new coins are just vaporware created by money-hungry devs, 97% of all altcoins are nothing more that worthless crap created with the sole purpose of filling the pockets of a few individuals thanks to pump and dump groups, hype, and emotions (FOMO, euphoria, etc) from cryptocurrency newcomers. Investors, cryptocurrency users, and the general public, they all have started to realize that the whole market has started to become a bit of a 'gambling' hub rather than a market where you can look for interesting tech and expect promising projects.

On the other hand, some coins might have a great team behind with a good project on their hands meaning that (if the project is succesful) competition will eventually rise making it so that the old coins willhave to adapt to new technologies, or find new ways to compete, this is actually a good thing to the growth of the altcoin market. And you know there's always people, mostly investors, looking for those hidden gems that have the potential to go big in the future.

As long as the ICO are not going to scam people of their investments then I can say that will be very positive. But the thing is that there are many projects whose goal is to scam, and those trusted project are affected.

And for the shitcoins, time will tell. If no one will bought or invest on it, then it will just die a another death. Delisted from exchanges because dev is no longer active. But personally, if you look at the current state, there are a lot of tokens that have no value itself and you have to wonder that's really their purpose, which could bring negative impact to the ecosystem.

Could be both.
When one token is growing in popularity it could take the investors that should have been with bitcoin. Shares will be halved.
But there is this good part where they will buy bitcoin to also buy the token that they prefer.
So it is a win win for both.

Depending upon the new projects that are coming up, it could have either positive or negative impact. But looking at the current scenario, it looks all gloomy as a lot of coins are being created without any proper purpose or set goals, leading nowhere except filling the owners' pockets.
On the other hand, there are a few decent projects which can be successful, given time to develop to their fullest potential. These tokens are the real outcomes of high-level developments in the altcoin field that are having a significant impact on the users which continue to use them to the fullest.

well if you think about it, something like this happening today and more in the future, is neither bad nor good. because you see, to us who already been around for quite some time and have already seen quite a lot and have grasped a bit about the crypto world and how things work around here, it is obviously good. but for the new comers or even the older ones who do not care to study first as much as they can will really suffer because of this since they are the ones who will be more prone to losing a lot from crypto investments. although i am not saying that we are immune to losing capital, what i mean is that we are most likely to know what good investments are worth investing on compared to those who do not take time to read stuff and just base their investments on other people's opinions or for the FOMO.

I think this will be a positive thing, but the problem is that only some of the new coins and tokens will rise to the top. Many coins have new innovations that will be beneficial to the cryptocurrency environment. Sometimes the best projects don’t get adopted, but hopefully some really good and innovative projects will be successful in the long run.

If there is any new type of coin or cryptocurrency about to come in market then there will be a competition among all the type of cryptocurrencies. This will also make people or investors confuse about their investments. They have to think about which currency investment will be more profitable

This is why this section is called bitcoin discussion although you are mainly pushing about other projects (blockchain based) but it will still help the whole crypto market. When we say blockchain, people who are aware of it will think immediately about bitcoin. And for others that doesn't give their opinion, let them be in silence. 
How do you define a scam coin?

I think everything has two sides.
On the one hand, more and more ICO tokens appear in the cryptocurrency market, which will promote the development of blockchain, and more technical talents will be added to study the blockchain technology.
On the other hand, these excessive ICO tokens may be hit by every countries only for the sake of money, and will eventually return to 0.

I think there are too many junk coins in the market right now, leading to the concealment of coins that really have the potential and quality. We often do not know the value of the coin with potential and quality, but at that time, After missing .So I think that more coins actually cause a lot of misleading investment.

Way too many crowding the market and making it hard for new coins that actually have a great idea/dev team and innovative plans to gain traction. I think it is also making it harder to get listed on decent exchanges for new coins now because there are so many junk coins spamming exchange owners.

I think there are good and bad, more coins prove crypto-currency market more active, more potential, more worthy of our investment. But it does not really make any sense how to judge those coins is really valuable, it is just a scam.

Our society is not yet ready for that much of adoption which is why those projects are inefficient and not beneficial for now. Like the dot com bubble, people were not yet ready to accept it after it was created. Many years have past before it people started using it and become completely integrated in our society. Perhaps crypto based projects will also go down the same path.

Previously I thought ICOs suck. But, come to think of that in terms of investment, it doesn't suck at all because *if* cryptocurrency collapses (I know people here don't want to hear that and I also think there's only very little chance to happen), there will be at least project left which can still benefit its users. That's the part with tokens. When with coins, I think too many coins without additional features that solve cryptocurrency's issues can have impact on users' confidence, probably in a not so good way and also I think it can have impact on stability of cryptocurrency's prices. So, I think it's better not to encourage too many shitcoins.

thank you for taking the time to share your opinion in here .
I think so too, do not know with the opinions of other friends?

existing of a thousand+ altcoins and tokens doesn't have any negative effect on anything. but existing of a thousand+ altcoins and tokens when 90% of then are absolutely useless junk makes the whole altcoin market into a joke.

and that means people will treat it like a joke, a tool to gamble with and make some money if you know how the game is played. and eventually good projects (that 10%) which also happen to have low prices will be overlooked while useless pumped coins take their place in the top 10 list.

It will give positive impact. Out of those blockchain-based projects, they are still depending to crypto's in terms of their market value and dependency. The more projects that will come out, the more money that will go into the circulation of cryptocurrency and these money will just go in the cycle of the market cap of the whole cryptocurrency. This is a big yes and positive thing for the market itself.

with more and more new coins emerging, also began the proliferation of thousands of Blockchain-based projects, Blockchain technology is getting crowded with thousands of coin / Token projects,what friends think about this ?
what impact will it have ?
will it have a positive or negative impact on world of cryptocurrency ?