Topic: Too many coin in circulation (Read 879 times)
The fact is even as there are thousands of coins in circulation more are still coming day by day which have made it hard for one to decide which one is the right investment choice. But again once you carry out strong research about some coin you will realise that some of them have good utility features and legit profiting system, despite the several scam ones among them.
nice insights, If I may add probably these things could help too :
a. The developers, you can do some check and re-check regarding team members and developers or any information about them. If it's reliable and makes sense it can be a good sign
a. The developers, you can do some check and re-check regarding team members and developers or any information about them. If it's reliable and makes sense it can be a good sign
Developers are very important if they are reliable then the project is in good hand, you can
take them as a little assurance the future of their creation is very possible to succeed.
b. How precise the roadmap and reality or may I say the achievement. A good developer usually will try so hard to make sure the road map is fulfilled. Even though it's not 100% precise, at least it's not that far from the road map that has been planned. Good developers always attract people to invest.
Roadmap is your main basis if the team is true to thier set plans, if they keep progressing and
from time to time they are providing updates, it's also a good sign that the project will manifest.
nice insights, If I may add probably these things could help too :
a. The developers, you can do some check and re-check regarding team members and developers or any information about them. If it's reliable and makes sense it can be a good sign
b. How precise the roadmap and reality or may I say the achievement. A good developer usually will try so hard to make sure the road map is fulfilled. Even though it's not 100% precise, at least it's not that far from the road map that has been planned. Good developers always attract people to invest.
a. The developers, you can do some check and re-check regarding team members and developers or any information about them. If it's reliable and makes sense it can be a good sign
b. How precise the roadmap and reality or may I say the achievement. A good developer usually will try so hard to make sure the road map is fulfilled. Even though it's not 100% precise, at least it's not that far from the road map that has been planned. Good developers always attract people to invest.
More the coins are in market makes more competition! I think its good to have too many coins in circulation.
I have seen that so many times the scam projects were scamming the newbies and these newbies were saying crypto is bad enough.
As long as there will be more and more legit coins and that should not be a big problem.
Many cryptocurrencies like BTC have a limited supply, and so people claim that they are resistant to inflation. However, there is no limit to the number of altcoins that can exist. So isn't it true that every time a new coin is introduced and people start buying it, the value of all other coins decreases, therefore causing inflation?? Anyway, during a market crash, all of shitcoins will surely die...
And I believed, over time... The cream will rise to the top... I have my quality portfolio fully ready for that day.
I am limited only to: [ETH, BCH, UNI, DOT and Blocknet (BLOCK).]
And I believed, over time... The cream will rise to the top... I have my quality portfolio fully ready for that day.
I am limited only to: [ETH, BCH, UNI, DOT and Blocknet (BLOCK).]
almost most of the altcoins in circulation are shittoken, which is detrimental to many people. always be careful when we buy altcoins whose trading volume is still low. There are so many altcoins that are dead at this time because they are left by the team and also their concept or product is not accepted in the market. The importance of research before we buy or invest is to analyze which altcoins have the potential or will lead to a scam. remember that anything can happen in crypto.
Probably why most people are just recommending bitcoin to everyone just because it is the safest investment that is going to make it compared to other altcoins.
For long-term investment, of course Bitcoin is the best potential, but isn't it only natural that bitcoin is always the main recommendation, and that doesn't mean investing in altcoins is bad, right?The OP also describes several criteria for coins that are worth holding, one of which is that the coin must have a clear usecase, and the major coins in market cap have this criterion, and in my opinion there is no need to doubt it.
More the coins are in market makes more competition! I think its good to have too many coins in circulation.
I don't agree with this argument. Having thousands of shitcoins in the market, which doesn't have any real life usage is not beneficial for anyone. On the other hand, they cause a lot of harm when new users unaware of their details invest in them and lose their capital. IMO, the sooner these shitcoins die out and are removed from the exchanges, that much better will be it for the health of cryptocurrency as a whole. Let's not forget that many of these coins are associated with scams and Ponzis.
Why still investing on new coins? what is the actual intention of those investors?
They invest to make money in short term so the chance of survival of those projects are very less even if they are more than good enough. So simply wait until the project becomes old then analyze all those points you mentioned.
That's the odd for the new projects even if they offer good services, people thinks only for their short term goals and didn't bother to look for the future of that project. We should always welcome new projects but don't trust them easily, just pick a good project and work on it for long term you'll see how good they are. Too many altcoins in the market, that's fine because not all of them are good very few succeed over time because they have a great community and they work as a team.They invest to make money in short term so the chance of survival of those projects are very less even if they are more than good enough. So simply wait until the project becomes old then analyze all those points you mentioned.
It all depends on what's going on, some people want to make money from one side, the other wants to make money from the other side, as long as there is no IL you can get some money out of this. I can't say what is going on with people because it is risky but they do get in to make a quick buck and take that risk.
It's not really the coin but the project behind the coin, if you know what to look at on a project, the development team, the issues that they want to address, and the platform that they are offering to the community, whatever coin those team named or algo they want to use, they are going to succeed, even if they have the name failure on their coin, it's all about the project.
Yeah, I think it's extremely important. I think it's the number one thing that everyone needs to do, even if you have a great product. In other words, if the platform isn't ideal, even if the team is wacky, in other words, if the ICO is done with poor PR and a total unprofessional way of selling the coin or whatever project, if the team isn't up to snuff, then that team is going to fail.
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Too many coin in circulation
You have seen nothing yet...It does not matter if there are many coins in circulation. The coins which are made to scam or get people's money won't survive for long but with every passing day the number of altcoins will continue to increase. For trader, this is good as it give more options and opportunity to trade and gain money. Also this means that the marketcap of crypto will continue to increase as more and more altcoins come into circulation.
More the coins are in market makes more competition! I think its good to have too many coins in circulation.
The following factors could also serve as guideline to selecting the right coin to invest in:
1. How useful the coin is:
2.is the purpose of the coin legit
3.Analyze its competitiveness
4.Demand and supply
5.market capitalization and founders holding
6.the general value
This is what i always suggest others when they ask on what coin should they buy. It is important to weigh the factors especially when you're going to invest huge amounts on it. The only coins that i recommend is bitcoin and ethereum which passes all the factors that you've just mentioned. Other newly introduced coins are risky to invest in. Yes it is useful, but will it last in the long run? Does it cater to the majority of the investors? Who are the competitors of the coin? That's why most newly introduced coins turn into dump through the years. It's either because their concept is too common or rather the purpose of the coin is only suited to the current trend
There are many coins that meet all the criteria that you give, but in the end it is still just a garbage coin.
The crypto market works around hype and rumors. I can take Doge coin as an example, people go crazy over doge when Elon musk talks about it.
The crypto market works around hype and rumors. I can take Doge coin as an example, people go crazy over doge when Elon musk talks about it.
Be sure to study the project and the distribution of coins in the project before investing your money there, you know that you can earn money here, but you can also easily and simply lose all your money here, so be very careful, please!
From 2020 to 2021 there are so many new coins in the circulation, and of the course I really agree with the emergence of this new altcoin, so that the crypto world can grow and can be utilized by all levels of the society, but here we must always choose carefully. The coins we want to invest in, because not all of these altcoins can provide benefits for us, therefore we must first study the coins we want to invest in, so that things that we don, 't want to happen.
It has been a very long pump year when every coin was in a big bull run. Also defi made things easier for people to build a token, I can create a new defi token in under 15 minutes if I want to, it will not be a good one, but the creation process is that simple. Which means we are talking about something that would not really be that difficult for people to create to make money as well.Of course there are good ones, we have seen many good projects this year as well, but once again 90%+ of all coins created were shitcoins, they were just created because people wanted to make quick cash by selling their tokens that they created and it is easy way to make few hundred thousand dollars. Who can say no to that kind of money? Which is why everyone is trying to build one, it could be good or bad but it will make them a lot of money so they are trying and that's why there are so many of them.
all must need in-depth research if you want to buy small but not well-known coins, if you want to be safe, buy ethereum, dot, uni coins for the long term
Yes, and what you mentioned is not a small coin even though the price is still very affordable and not too expensive for those who have a lot of money, because small Altcoins are Altcoins that have a lot of supply and the price is also very cheap even though these Altcoins are very well known.Now is the time when 100 million coins is not so much.
There are currently over 10,000 cryos on the market and most of them are trash. Those are inactive projects. I suppose valid and valuable cryptocurrency. Only good projects deserve attention.
every day new coins/tokens appear and that only adds to the dirt 'lol'...Every day new coins appear and it shows that there are so many who want to contribute to the crypto market. not carelessly choosing and focusing on old coins will make the heart calmer and avoid the scams that continue to appear in the crypto market.
There are currently over 10,000 cryos on the market and most of them are trash. Those are inactive projects. I suppose valid and valuable cryptocurrency. Only good projects deserve attention.
every day new coins/tokens appear and that only adds to the dirt 'lol'...Every day new coins appear and it shows that there are so many who want to contribute to the crypto market. not carelessly choosing and focusing on old coins will make the heart calmer and avoid the scams that continue to appear in the crypto market.
There are currently over 10,000 cryos on the market and most of them are trash. Those are inactive projects. I suppose valid and valuable cryptocurrency. Only good projects deserve attention.
I think all traders have different ways of trading, all based on their own understanding and experience. there are traders who prefer to trade in coins that have low prices and vice versa !!
in my opinion, what needs to be considered if the market conditions are like today (many Altcoins have sprung up)
"Just pay attention to the Altcoins that we invest in, are they decreasing or increasing?"
I don't think it will cause big losses for investors even though there are lots of altcoins that have sprung up and have good value.
in my opinion, what needs to be considered if the market conditions are like today (many Altcoins have sprung up)
"Just pay attention to the Altcoins that we invest in, are they decreasing or increasing?"
I don't think it will cause big losses for investors even though there are lots of altcoins that have sprung up and have good value.
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