I don't really think it is a bad thing to have many altcoins... The problem is that there are no generally accepted good standards/rules to prevent bad or unnecessary projects from thriving. I think people should build unique and good projects that are based on the good standards/rules. If such standards exist and generally accepted, it can become possible to easily research on a project and see if it truely follows the standards/rules. Those that do not pass the standards accepted safe level, could then be easily tagged and they're automatically downgraded.
Topic: Too Many Altcoins! - page 4. (Read 463 times)
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Come to think of it, we are all in a decentralized space, where there is freedom to create a blockchain, invest in tokens, or basically be an onlooker. Having a broad knowledge of this makes me wonder why you are stilled shocked about the numbers of altcoins around; most altcoins are indeed a repetition of existing projects; some are better, some are with good upgrades and some are craps.
And yes, all founders of a project or the other are definitely creating for the money.
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Their main reason to create altcoin or token is to make money because they see that the cryptocurrency can be a new way to make money. They can invite many people to join their project as an investor so that they can get the money in the short term. But for some developers, they create the altcoin or token project because they want to give or contribute something to the crypto world. 
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
That's one reason, other are:1. they want to challenge bitcoin's dominance
2. supposedly offer more privacy
3. solve real life problems in different industries/sectors
4. to scam people
And there could be more, but that's on top of my mind right now.
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
i agree too many altcoins, there should be a stop to any altcoins at this point. all are scams and fake promises anyway.
now should be time for in chain creation or app, not creating more scam chain/coins. this is an expert opinion. creating coin, chain, ico, ipo or scam should be long gone, time to focus for in chain, sidechain and app now. the only legit pump now is if the sidechain or app is really working.
often time now everything is like circle of life, repeating and rinse, repeat and rinse, repeat and rinse.
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
That's one reason, other are:1. they want to challenge bitcoin's dominance
2. supposedly offer more privacy
3. solve real life problems in different industries/sectors
4. to scam people
And there could be more, but that's on top of my mind right now.
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Yes, it's about money. Founders don't have funds, so they raised capital through ICO crowdsale to kick start their projects. Talking of Bitcoin, the first and most important cryptocurrency, actually Satoshi Nakamoto never intended to create a currency. It was purely accidental, what he wanted to build is a decentralized digital cash system without a central authority which he succeeded.
Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Jump to: