So I am just wondering if anyone has brought this topic up yet, but isnt it soon going to be that there are too many coins that all take away a part of the global hashpower.
Its easy for anyone with some programming knowledge to make a coin, however for anyone to start mining, lets just say money dont grow on trees.
So my question is, is the number of coins to many to have a stable hashrate on any coin?
are the coin creaters are basiclly killing their own projects?
Its easy for anyone with some programming knowledge to make a coin, however for anyone to start mining, lets just say money dont grow on trees.
So my question is, is the number of coins to many to have a stable hashrate on any coin?
are the coin creaters are basiclly killing their own projects?
It's a free market and miners will only mine coins they feel will have longevity. Some will make mistakes but it is true they are killing their coins if the coins do not have some kind of utility and staying power. Most coins will not survive, that is the nature of the market.
Well how do you define a "dead" coin? I have never seen coins being removed from lets say Cryptsy, a coin that is still being traded is still a coin that is "alive" even though the Volume is at 0.1BTC.
Something keeps telling me each day that a little bit of regulation wouldnt be bad after all. Something that sorts out shit, shit that shouldnt ever make it to the point so that I can read about it.
There has been 4 something drug coins the past week, its stupid really.
A dead coin is one that is no longer mined, or is prone to a 51% attack from a single miner. If the network is not running then the coins can't be transferred from a wallet to an exchange and back again.
I do not agree with regulation. I think that the crypto market could do well with organizations that can rate the quality of coin networks for miners, investors, etc. Exchanges right now have their own independent metric for rating the quality of coins. I think the system is working.
If you have a concern about the quality of a coin, its network etc then I would recommend avoiding it regardless of what exchange it is on.
As for the rate of the coin creation, it is part of the market. I am leaning more and more towards competent developers that have a proven track experience in successful coins in the past, or years of development experience. Having a team is a plus. Providing open source code ahead of release, providing the community a forum to discuss features or contribute to the project, and a significant involvement in the development of the coin and marketing it to the world.
Everything else is flash in the pan and not worth the time. Best to just ignore them.