Topic: Way too many new coins - is this a real threat for crypto ? (Read 461 times)
Educate yourself about this whole altcoin thingy and Bitcoin basics, read the sticky topics and posts of the experienced forum members, then you'll have a better chance to sort out the useless projects when you're on the hunt.
Nope
Opportunity is King
Opportunity is King
in my opinion, when you dig in, there are no too many coins...
just need to find the key ones. others are just side effects
just need to find the key ones. others are just side effects
I find it very difficult to keep seeing the bigger picture when there are so many new projects. For instance the airdrop and ico branch. Overwhelming! Is this also a problem for my fellow crypto enthousiastics?
It's not a problem, it's very normal. Look around there are tons of cellphone brand, car brand, restaurant brands etc.
Blockchain is a wide sector, it can't go further with limited number of coins/projects. We need more projects in the following years to present more useful stuff to the community.
That's the main reason actually.
I find it very difficult to keep seeing the bigger picture when there are so many new projects. For instance the airdrop and ico branch. Overwhelming! Is this also a problem for my fellow crypto enthousiastics?
This is also how I look at the current situation. I hope the support that a lot of shitcoins and shitprojects will be zero so that they will realize that crypto is not a place for fools trying to scam other people. This will also remind the future shitcoins not to be introduced at all because they will definitely fail. We are actually experiencing so many hollow ICOs and airdrops today.
The situation when cryptocurrency market is overfilled with many alternative coins can cause the growth of 3-4 leading currencies like ETH, DASH, Litecoin. These cryptos can swallow the smallest altcoins. Finally, only leaders will survive there.
I bet ETH will have more power soon. IMHO.
I bet ETH will have more power soon. IMHO.
I find it very difficult to keep seeing the bigger picture when there are so many new projects. For instance the airdrop and ico branch. Overwhelming! Is this also a problem for my fellow crypto enthousiastics?
It is simply physically impossible to track all of the new altcoins that keep appearing. You would need to hire an entire team to keep studying new altcoins and filtering the bullshit from the good projects which unfortunately are very few. If you try to do it by yourself, you will see that there are not enough hours in the day.
So many shitcoins out there only make it more obvious that bitcoin is the king.
There are currently 3,812 different publicly traded stocks in the US alone. You don't have to research and keep track of every single one of them to invest in the stock market. The same goes for altcoins--there's no need for most people to keep track of every last new altcoin that comes out. I would suggest picking a few sectors that you are knowledgeable about or interested in and stick with those. The good projects that fall into an area of interest will probably stand out to you and be good candidates for further research.
How are you not going to need to invest your time researching as many tokens as possible to find a good one? the more time you spend researching new projects the higher chances you have at finding a hidden gem that may (or not) go x100 on your initial investment. There is no easy way out. If someone comes up with an amazing project it's going to remain hidden for a long time until the rest of people catch up simply because there are tons of altcoins out there, so you must put in the work to research ideally every single one that comes out, but since you can't, do what you can.
This is a good thing for Bitcoin because as more time goes by and more attempts of new coins marketing themselves as better, the better it'll be for the price of BTC because that means they will quickly fail while BTC just keeps chugging along as more developers around the world add to the network to make it stronger ultimately. This doesn't happen with altcoins at all.
In my opinion, this number of new coins is a threat for the good projects related to cryptos. Many people will loose money and faith and will quit cryptos.
Nah its awesome.
Natural selection.
I wonder what will become of it? Its immutable documents.
They will be just forgotten on some glacier storage in amazon?
Another strartup idea. Cemetery for coins.
Dev can donate all their coins to institution, that will store blockchain and latest versions of wallets. Perhaps with regular tests to see that everything is running.
Need to write pattent on this.
Natural selection.
I wonder what will become of it? Its immutable documents.
They will be just forgotten on some glacier storage in amazon?
Another strartup idea. Cemetery for coins.
Dev can donate all their coins to institution, that will store blockchain and latest versions of wallets. Perhaps with regular tests to see that everything is running.
Need to write pattent on this.
it seems to me that it is shown to people who are experts in treading and in that way the project will go forward and earn a lot more.
then this is what all the projects do.
then this is what all the projects do.
we are in the dotcom crypto bubble right now. the most are going to die!
like the dotcom bubble few project will survive !
like the dotcom bubble few project will survive !
We're likely in an ICO bubble and it'll pop at some point; value will get erased from crypto but if you're in this for the long haul then it doesn't matter. Bitcoin may not be more valuable tomorrow than it is today, but I'm 100% confident it'll be more valuable in 5-years than it is today.
Me personally, I can't wait for it to happen because 95% of the ICO's coming out don't do anything new or add anything to crypto.
Me personally, I can't wait for it to happen because 95% of the ICO's coming out don't do anything new or add anything to crypto.
Most coins will die and people will forget about, those that are successful and have large support are the ones that will strive and be around for a long time. I do agree Airdrop coins are crowding up the entire market but nothing wrong with free money 
I find it very difficult to keep seeing the bigger picture when there are so many new projects. For instance the airdrop and ico branch. Overwhelming! Is this also a problem for my fellow crypto enthousiastics?
No, it's doesn't. Do fiat or local currencies are affected by threats? In. The future every country has its own cryptocurrency aside of Altcoins that is being circulated globally and every cryptocurrency are not related to each other, they're just have roles in each field and most of them were used as trading and conversion into the next Altcoin or cryptocurrency. Even Bitcoin hard forks have nothing to do with each other.
Variety of coins doesn't possess a threat to cryptocurrencies, because people have chance to choose among them and thus they don't (are not supposed to) pump one single coin and that would actually be a true risk, for fast pump leads to even faster dump, after all.
It's true that variety makes it harder to choose in what to invest, but that's a problem for some people, not the market in general.
Just ignore all those newly airdropped e scam tokens and they will disappear.
No need to even speak about them imho.
No need to even speak about them imho.
Yes, i agree with you. Airdropped scam coins are just shits. They will disappear in a few months but too many people make money with this airdrops and shitcoins
I find it very difficult to keep seeing the bigger picture when there are so many new projects. For instance the airdrop and ico branch. Overwhelming! Is this also a problem for my fellow crypto enthousiastics?
The same way there are so many goods in the super market trying to get your attention but you choose to go for what you were there to buy since you can buy the whole super market. Just like the cryptos in the face of the several ones competing for attention, I don't see any threat whatsoever because the ones that will stand out will surely do while the ones maintaining space will always be there, Our own as investors is to be sure which one we are putting our money in other to get intended return on investment.
I find it very difficult to keep seeing the bigger picture when there are so many new projects. For instance the airdrop and ico branch. Overwhelming! Is this also a problem for my fellow crypto enthousiastics?
There is no threat for the crypro or the bitcoin the problem is that investors may lose there investment because some altcoin price is high at the initial stage but the price will gradually decrease by the time so investors will lose their money.So we have to do lot of research before investing on the newcoins we need to know about the background of the development team of the ico because good team will produce the successful ico.
Just ignore all those newly airdropped e scam tokens and they will disappear.
No need to even speak about them imho.
No need to even speak about them imho.
Without any doubts most of the coins listed on coinmarketcap are 100% shitcoins but I think that is is possible to havea lot of them at the same time. People already have various amount of fiat currencies irl so we can also have it in crypto but the competition woll be more clear.
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