Number of altcoins keep increasing! - page 7.

Slow death

legendary

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Quote from: LordMiguel on July 22, 2021, 05:48:38 PM

You may also find out that fake coins are leaving the market as well with little or nothing been added. it is left for coinmarketcap to delist worthless tokens.

the problem is that now there are hundreds of altcoins that are meaningless but have a large community and are listed on many exchanges, meaning the meaningless projects somehow evolved into meaningless projects but very well disguised as if they were projects with meanings , I can give an example of altcoins named after dogs, altcoins named after Japanese foods

LordMiguel

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ITSMYNE

this post was made in 2018. i wish the owner can now to see the amount of altcoins that has entered the market. i think it has double. come back in the next two more years and you will noticed that the number of new altcoins has also double. You may also find out that fake coins are leaving the market as well with little or nothing been added. it is left for coinmarketcap to delist worthless tokens.

susuberuang

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Quote from: Samurai trieng on July 21, 2021, 03:33:17 PM

This is a sign that crypto has experienced a very positive development, because the number of altcoins is increasingly circulating in the crypto market, even so we must study carefully which altcoins we will invest in order to avoid scam altcoins,

Yes, and for investment I think everyone will choose good Altcoins for long-term and short-term choices because now there are so many websites that provide services for ranking cryptocurrencies such as CMC for example, so that everyone can take references from there.

OZmaster

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Quote from: Vishnu.Reang on July 21, 2021, 03:10:07 PM

Quote from: OZmaster on July 21, 2021, 02:58:55 PM

That is just the nature of open source code. Everybody can take it and make a coin very easily. When they see how some do it and get rich over night by selling to the public, it attracts attention from even more amateurish developers who then try to do the same. But as you said, the chance for success these days with a shit coin is close to zero.

Copycat projects made a lot of profit back in the 2017 and 2018. But then the investors (at least most of them) became more cautious. But the most tragic outcome out of this was that due to the influx of scam projects, even genuine projects failed to get enough funding. There were some good projects such as Deep Onion and Veil which failed, because they couldn't attract enough interest from the users. Users were simply afraid to invest in the new projects, irrespective of their specifications and development plans.

Correct analysis, that is how the bad projects or scam projects back fire against the whole industry. People get suspicious and are not as keen to fund the good ones either, which is sad and slows down the progress for cryptocurrencies overall. But scams will forever be with us, with every new trend that pops up there will also be a new form of scamming, sadly...

Pamadar

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Quote from: BigBos on July 22, 2021, 02:34:45 AM

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!

Yes, you're right. some of the current altcoins we don't need. that's why quite a lot of projects have been forced to stop or fall because they lost to competition. New altcoins are coming with new developments that cover the shortcomings of previous projects. that's why every day people try to introduce new projects that they bring. when they are famous, then we don't need the old ones. except the old coins also develop new things on the coins they have.

Competitions are everywhere, new projects has been introduce to fill out existing coins lapses.

There are projects that already offer good fundamentals but due to some needs another project will comes up and offer added updates,

some reform or some other features to cover up whatever is lacking from the previous one, but along the way it will keep the cycle and we will see more alts being created and introduce around the market.

Republikcoin.com

legendary

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Quote from: ?? on ??

Since the blockchain was an open source platform and there have been lots of people were creating and building their own blockchains and the introduction of the smartcontract was making it much more easier to create a new token or security token. Some people have complained about this but this can't be prevented because they were creating it with their own intention.
As long as you nor he was choosing the major coin and it must not be a problem.

Agree, the top coins or those in the top 10 of the list are more likely to have lower volatility and less risk than newly released coins. However, even though you have bought a major coin, it still does not rule out the possibility that you will lose too.

What I hate about the phenomenon of increasing the number of altcoins every day is that developers don't really have a strong desire to compete with other coins in a sporting manner. They too expect the coin to go viral and get high gains. This is one of the desperate traits of a fake developer who wants to get rich instantly.

Darktongue

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Quote from: daenarys_stormborn on July 17, 2021, 12:19:08 PM

it is true that the number of altcoins continues to grow, but the really good ones are only a few, maybe around 70% of altcoins in the market are shit coins, so you have to be very careful in choosing altcoins

Maybe 70% altcoins are scam, but now it'll be very hard to find scam projects. I know that so many scam projects will rise more than 20 percent. The best options left for us are old coins. But unlike EOS blockchain or Ripple. 11k number isn't enough, some coins aren't listed in the coinmarketcap. As an increase in crypto numbers, I hope finally we all understand the real crypto and use case.

777Jolami

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The birth of new altcoins is a "must" that has great significance for the complete development of the entire altcoin market, it is important which altcoins can survive and develop, increase competition and create a competitive challenge for the market. Over the next decade you could see hundreds of thousands of altcoins, even any business or company that will feature an altcoin. It is not fiction. Lol

BigBos

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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!

Yes, you're right. some of the current altcoins we don't need. that's why quite a lot of projects have been forced to stop or fall because they lost to competition. New altcoins are coming with new developments that cover the shortcomings of previous projects. that's why every day people try to introduce new projects that they bring. when they are famous, then we don't need the old ones. except the old coins also develop new things on the coins they have.

Noruka

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Quote from: Samurai trieng on July 21, 2021, 03:33:17 PM

This is a sign that crypto has experienced a very positive development, because the number of altcoins is increasingly circulating in the crypto market, even so we must study carefully which altcoins we will invest in order to avoid scam altcoins,

Well, this is one way to see it but I think that a lot of those alt coins were produced by a quite small group of people. Those who made a coin and had some success definitely launched even more coins. I am sure there are organized groups who perhaps launched maybe 20 or 30 or even way more coins or tokens. That is almost guaranteed to me. So many projects were abandoned and then there was this new one which seemed a bit similar to the abandoned one.

Samurai trieng

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This is a sign that crypto has experienced a very positive development, because the number of altcoins is increasingly circulating in the crypto market, even so we must study carefully which altcoins we will invest in order to avoid scam altcoins,

Vishnu.Reang

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Quote from: OZmaster on July 21, 2021, 02:58:55 PM

That is just the nature of open source code. Everybody can take it and make a coin very easily. When they see how some do it and get rich over night by selling to the public, it attracts attention from even more amateurish developers who then try to do the same. But as you said, the chance for success these days with a shit coin is close to zero.

Copycat projects made a lot of profit back in the 2017 and 2018. But then the investors (at least most of them) became more cautious. But the most tragic outcome out of this was that due to the influx of scam projects, even genuine projects failed to get enough funding. There were some good projects such as Deep Onion and Veil which failed, because they couldn't attract enough interest from the users. Users were simply afraid to invest in the new projects, irrespective of their specifications and development plans.

OZmaster

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Activity: 804

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Quote from: zachyboy090118 on July 20, 2021, 02:21:45 AM

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.

Absolutely your right altcoins still increasing and most of them turn to shitcoin or no value coins. Over and over so many coins promoted and pump out in the crypto market. So we should also aware for this alts some of them seem have potential but in a blink it will crushed and useless and for example your funds is there, it will also dissapear. Maybe we should depend on good coin as you said like btc and eth.

That is just the nature of open source code. Everybody can take it and make a coin very easily. When they see how some do it and get rich over night by selling to the public, it attracts attention from even more amateurish developers who then try to do the same. But as you said, the chance for success these days with a shit coin is close to zero.

zachyboy090118

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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.

Absolutely your right altcoins still increasing and most of them turn to shitcoin or no value coins. Over and over so many coins promoted and pump out in the crypto market. So we should also aware for this alts some of them seem have potential but in a blink it will crushed and useless and for example your funds is there, it will also dissapear. Maybe we should depend on good coin as you said like btc and eth.

XUNing

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With the development of blockchain technology, a large number of altcoins have appeared on the market. The emergence of most altcoins is not to bring benefits to investors, and to profit from investors themselves is just a short harvest. Their appearance will not have much impact on coins with a long history of development, and the increase in altcoins only increases the overall market value to some extent.

OZmaster

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Quote from: Argoo on July 17, 2021, 12:45:43 PM

Quote from: ?? on ??

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!

although many new coins are introduced to the market every day, not a few of them are having problems like the project ended in scam and also the coins being marketed are experiencing very cheap prices, but for the best coins in general will bounce well, hope if the launch of new coins can be stable in the crypto market.

I wonder why some of these new projects can't incorporate some of the existing coin into their projects. The idea of producing new coin looks selfish sometimes to me, a new decentralised exchange of binance blockchain should be able to use BNB as their coin, since they can collect transaction fee as BNB, so is many new project.

This use of previous data of other coins is ongoing. Even the now thriving BSC is, in fact, a copy of ethereum with some improvements to allow cheap transactions. This is because decentralized coins have open source code, and therefore anyone can copy the blockchain base of the coin of interest and build settings on them at their own discretion. This is, in principle, normal and allows cryptocurrency to develop rapidly. Therefore, the number of altcoins is already approaching 11,000. Many of them are useless and will be discarded by the market.

From a business perspective it was also the best move Binance could do. BSC might not be as decentralized, but they saw the need for a faster chain with cheaper transactions and with Pancakeswap on top of it, it turned into a real game changer for now. They also had the massive user base and knew it wouldn't take long for them to grow BSC big as well.

NewRanger

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Quote from: daenarys_stormborn on July 17, 2021, 12:19:08 PM

it is true that the number of altcoins continues to grow, but the really good ones are only a few, maybe around 70% of altcoins in the market are shit coins, so you have to be very careful in choosing altcoins

it is more than 70% are shitcoins , maybe only around 5% as vitalik said. The number of altcoin growing was not parallel move with its quality. Too many shitcoin launched by unexperienced developer team,and also it have no usecase at all. As investors we must care with this case, always do deep research to new project and separate which part is fake and another part is real.

Argoo

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Quote from: ?? on ??

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!

although many new coins are introduced to the market every day, not a few of them are having problems like the project ended in scam and also the coins being marketed are experiencing very cheap prices, but for the best coins in general will bounce well, hope if the launch of new coins can be stable in the crypto market.

I wonder why some of these new projects can't incorporate some of the existing coin into their projects. The idea of producing new coin looks selfish sometimes to me, a new decentralised exchange of binance blockchain should be able to use BNB as their coin, since they can collect transaction fee as BNB, so is many new project.

This use of previous data of other coins is ongoing. Even the now thriving BSC is, in fact, a copy of ethereum with some improvements to allow cheap transactions. This is because decentralized coins have open source code, and therefore anyone can copy the blockchain base of the coin of interest and build settings on them at their own discretion. This is, in principle, normal and allows cryptocurrency to develop rapidly. Therefore, the number of altcoins is already approaching 11,000. Many of them are useless and will be discarded by the market.

daenarys_stormborn

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it is true that the number of altcoins continues to grow, but the really good ones are only a few, maybe around 70% of altcoins in the market are shit coins, so you have to be very careful in choosing altcoins

[email protected]

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Quote from: ?? on ??

I wonder why some of these new projects can't incorporate some of the existing coin into their projects. The idea of producing new coin looks selfish sometimes to me, a new decentralised exchange of binance blockchain should be able to use BNB as their coin, since they can collect transaction fee as BNB, so is many new project.

it all depends on the development you want to achieve by a project.
binance has a strong ecosystem for building a new platform, although full support is based on their own support community.
but what binance is doing is amazing. not many projects have such strong support. some platforms like Kucoin and Okex may be building the same ecosystem. but everything will take place gradually.

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