Number of altcoins keep increasing! - page 2.

freedomgo

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Quote from: cafee_orange on August 14, 2021, 02:56:56 PM

Quote from: omonuyak on October 09, 2018, 03:32:47 PM

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing. The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

From 2018 to 2021 more and more altcoins are circulating in the market, but not all of them last long and make good altcoins, only a few altcoins can provide positive value to the market industry. From the many altcoins launched, I think it will have an impact on investors so that investor interest will decrease if they take the wrong steps or invest in scam coins.

There's no denying about the increase of altcoins, but the question is not the quantity, but on the quality.

Here's a complete graph to see a bigger picture, https://www.statista.com/statistics/863917/number-crypto-coins-tokens/

look at that, what percent do you think are real projects with future potential?

Plinteng

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https://goldeth.io/

Quote from: Twinkledoe on August 13, 2021, 06:25:24 PM

Quote from: Plinteng on August 13, 2021, 06:20:05 PM

In the last few years, thousands of projects have brought their coin to the market through ICO. If we look at coinmarketcap, we can see that most of these cryptocurrencies have no market volume. Most cryptocurrencies have lost their acceptance since they came on the market due to lack of practical plans and skilled team members, and after a while, they have become worthless. However, some of these potential altcoins have come and they have gained a lot of popularity among people. So it is more reasonable to think of potential cryptocurrencies without considering the number of cryptocurrencies.
and hopefully this advice can help you at least to minimize the risk of loss just by investing in real coins.

Investing in alts takes dedication if you are serious into it, because you need your time to evaluate each project that you want to get involved with. And if you are holding a specific coin, you also need to keep up with their progress in terms of development. Because if they are having problem in delivering their targets, start thinking about discarding that coin. Because you may easily end up holding worthless coins. Don't think twice if your instincts is saying that the project is about to go down. Get out while you can still get something from your investments.

yes completely true, I like your input and even I have reconsidered before investing in a new coin. I'm always researching new coins that my instincts find worthy of daily trading, then monitor the progress of the project and I'm starting to understand also when to buy or sell. I also don't want to be stuck in the same hole and leave immediately after making a profit.

JackieAinsley

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Quote from: Garsipop on August 13, 2021, 01:59:42 PM

Quote from: alan228 on July 24, 2021, 04:08:37 AM

The more popular the cryptocurrency, the more altcoins appear.Investors have a very large selection of projects. But before you take part in the project, you need to carefully study everything. Here is an interesting articles about the importance of DeFi and its practical use https://eqifi.medium.com/defi-explained-what-are-variable-rate-products-eqifi-ba369645bf24

Banks are able to carefully count their money and if cryptocurrencies allow for cheaper payments around the world, then banks will use these opportunities.

Banks are carefully studying the possibilities of blockchain and are cooperating with cryptocurrency projects to offer their customers more opportunities.

Mikayla Buckley

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We cannot prevent anyone from issuing coins. Anyone on the chain can issue coins.
There are currently countless altcoins issued. But there are also many altcoins that are dying.
Some new projects also have investment value. There are still no meme coins backed by giant whales like Dogecoin or Shiba Inu.
We must be cautious when investing in memecoins. To prevent being deceived.

Traderbtcc

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★Bitvest.io★ Play Plinko or Invest!

Quote from: i7claufe on October 09, 2018, 07:14:44 PM

Few years from now most of the coins on the market will probably die and the mroe stable ones will be left behind.

True, most of the coins we have in the market today won't survive in the coming years, cause they don't have the incentive to keep the project alive, most projects launch with a one year roadmap and after that they are clueless and stop developing, so many coins will die since the project stop developing, the only coins that will be left will be coins with real utility, all these meme coins we have today would probably not be around in the next 5years.

Rexler

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The Standard Protocol - Solving Inflation

The fact there is anyone can just create a coin shill with much hype and good marketing boom the coin will sell out but most importantly it's good to know that coins with good use cases are the real MVP because the usability of the coin is what boost it's price and in a bear market coin like this can still be doing very well as far the token is still fulfilling it's purpose of creation and people are still buying.

Twinkledoe

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Plinteng on August 13, 2021, 06:20:05 PM

In the last few years, thousands of projects have brought their coin to the market through ICO. If we look at coinmarketcap, we can see that most of these cryptocurrencies have no market volume. Most cryptocurrencies have lost their acceptance since they came on the market due to lack of practical plans and skilled team members, and after a while, they have become worthless. However, some of these potential altcoins have come and they have gained a lot of popularity among people. So it is more reasonable to think of potential cryptocurrencies without considering the number of cryptocurrencies.
and hopefully this advice can help you at least to minimize the risk of loss just by investing in real coins.

Investing in alts takes dedication if you are serious into it, because you need your time to evaluate each project that you want to get involved with. And if you are holding a specific coin, you also need to keep up with their progress in terms of development. Because if they are having problem in delivering their targets, start thinking about discarding that coin. Because you may easily end up holding worthless coins. Don't think twice if your instincts is saying that the project is about to go down. Get out while you can still get something from your investments.

Plinteng

jr. member

Activity: 286

Merit: 3

https://goldeth.io/

In the last few years, thousands of projects have brought their coin to the market through ICO. If we look at coinmarketcap, we can see that most of these cryptocurrencies have no market volume. Most cryptocurrencies have lost their acceptance since they came on the market due to lack of practical plans and skilled team members, and after a while, they have become worthless. However, some of these potential altcoins have come and they have gained a lot of popularity among people. So it is more reasonable to think of potential cryptocurrencies without considering the number of cryptocurrencies.
and hopefully this advice can help you at least to minimize the risk of loss just by investing in real coins.

Garsipop

jr. member

Activity: 122

Merit: 1

Quote from: altixz on August 12, 2021, 02:25:12 PM

Quote from: alan228 on July 24, 2021, 04:08:37 AM

The more popular the cryptocurrency, the more altcoins appear.Investors have a very large selection of projects. But before you take part in the project, you need to carefully study everything. Here is an interesting articles about the importance of DeFi and its practical use https://eqifi.medium.com/defi-explained-what-are-variable-rate-products-eqifi-ba369645bf24

Now most banks are carefully studying the blockchain technology and the opportunities that this technology brings, and in their work they cooperate with cryptocurrency startups that are engaged in developments in the field of blockchain.

Banks are able to carefully count their money and if cryptocurrencies allow for cheaper payments around the world, then banks will use these opportunities.

altixz

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Activity: 154

Merit: 1

Quote from: alan228 on August 09, 2021, 08:04:33 AM

Quote from: alan228 on July 24, 2021, 04:08:37 AM

The more popular the cryptocurrency, the more altcoins appear.Investors have a very large selection of projects. But before you take part in the project, you need to carefully study everything. Here is an interesting articles about the importance of DeFi and its practical use https://eqifi.medium.com/defi-explained-what-are-variable-rate-products-eqifi-ba369645bf24

The financial sector is now actively exploring the possibilities of using blockchain technology. Many banks cooperate with cryptocurrency startups and are developing in the field of blockchain.

Now most banks are carefully studying the blockchain technology and the opportunities that this technology brings, and in their work they cooperate with cryptocurrency startups that are engaged in developments in the field of blockchain.

konflikkastil

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Sovryn - Brings DeFi to Bitcoin

Can I say it is just the beginning, cause the numbers of altcoins that we are going to have in the nearest future is going to be uncountable. The way new coins are coming out these days, it cause for an alarm. Sometimes, you begin to wonder where we are actually going. And these coins does not really add to the market rather becoming the bad heads making people to loose interest in the Crypto Market. Just few of these coin have something good to offer, the ones that are real. Someone has to be very careful with the kind of coin you invest in inorder not to waste your money.

Serco

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Quote from: gaston castano on August 10, 2021, 10:26:01 AM

The industry will continue to grow but most altcoins will die, because there are so many scam projects every day that have no clarity about their projects, and those that do not have continued development will also be eliminated.

between thousand new altcoin project , only 5% of them were real project and have product that will developt. and the rest as scam project which is will take our money down. sometime we will be the victime of this project and we have to due dilligent in every new project so our money will save . scam project team now have good skill , they make project looks reall and even bring it to medium exchanges or provide huge liquidity in cex.

harapan

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Activity: 1736

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Quote from: renes on October 09, 2018, 03:36:59 PM

It does not matter, everyone can create a coin which is mostly useless and for nothing so it will keep rising, but good coins that will have impact on the industry also there.

it's a decentralized space, everyone is free to do whatever they feel like doing, anyone can create a shitcoin and make shit ton of money from it just like dogecoin, a shitcoin at the start but surprisingly after several years it's current market cap is over a billion, in the end good coins with real utility will always be preferred by smart investors, not these noobs who are searching for 20x from a meme shitcoin.

Hamphser

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Quote from: Ureung jameun on August 10, 2021, 02:38:40 PM

Quote from: omonuyak on October 09, 2018, 03:32:47 PM

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing. The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

Even though the number of altcoins is currently increasing, there are also many altcoins that are useless and do not have good growth in the market exchange. The current growth in the number of altcoins I think is due to the intense competition in the exchange market and altcoins have the potential to earn huge profits for altcoin creators. so many people want to create altcoins without any good development and growth.

90% of them are just useless or doesnt really have actual relevance or utility or simply copy cat from those top altcoins in the market and this is why as an investor you should really get rid nor consider out on buying

some shitcoins in the market specially to those who do consider on buying some low cap or low volume and trying to make some fortune with it when it do pumps.Yes, probability is there but risk is way more higher

but there are people who do really love to gamble with this and hoping that they could make theirselves rich when it do pumps.As this market would grow then expect that number of those shitcoins
would grow too.

Handpari

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The World's Leading Cryptocurrency CFD Exchange

many coins are increasing so I would go all in in this period. Not with all the coins, but there several projects which are low cost now, like XRP, XLM, RavenCoin, ADA, Graph etc.
These all are big coins . i will stay away from new coins.

Ureung jameun

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Trident Protocol | Simple «buy-hold-earn» system!

Quote from: omonuyak on October 09, 2018, 03:32:47 PM

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing. The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

Even though the number of altcoins is currently increasing, there are also many altcoins that are useless and do not have good growth in the market exchange. The current growth in the number of altcoins I think is due to the intense competition in the exchange market and altcoins have the potential to earn huge profits for altcoin creators. so many people want to create altcoins without any good development and growth.

hamba laeh

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ARTEMIS

Quote from: omonuyak on October 09, 2018, 03:32:47 PM

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing. The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

the more altcoins created, the better in the world of cryptocurrencies. because the number of altcoins means cryptocurncy is growing and in demand by many people. so that the competition between platforms is getting stronger and will always give the best to each asset owner. And in every competition, there are winners and losers.

Insomnia family

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In recent years, thousands of projects have brought their coins to market through ICO. If we look at coinmarketcap, we can see that most of these have no market volume and can't even last long. However, since the emergence of Defi at least not so bad, but it makes more sense to think about potential cryptocurrencies without considering the number of cryptocurrencies. especially coins in the top 10 list in the CMC market.

MIner1448

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Tontogether | Save Smart & Win Big

The number of altcoins on the market is growing every day, it is impossible to keep track of everyone, but the scam grows every day with the same dynamics, I generally watch some altcoins are created purely for the scam, so that at the start of the goby they cut down and go to distant lands, sometimes of course there are projects great, but often a complete scam.

freedomgo

legendary

Activity: 3150

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Quote from: Mauser on August 09, 2021, 08:50:02 AM

To me it feels like it is much easier to make a new crypto coin then to keep working on your old project. With new coins there is alway an initial hype that makes it attractive for many investors. Whereas with older coins we have the risk that there is no more liquidity in the market and we can't sell our coins again. Also with new coins there is always the chance that it gets picked up by many investors and will rally.

If they only focus on the hype, then we can't trust them in the future.

What investors will do if we always follow the hype all the time, they will make a new one, if they make a profit from it, they will just leave the project and create a new one. It's a never-ending story, and the new investors will make money while the late comers will be a bag holder, it's like a Ponzi scheme which is not good.

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