Topic: Why 99% Alt Coin Will Fail? A Case Study (Read 1838 times)
I think some will come up short since they are imperfect, yet I don't see it being 99% of all alt coins, there are a considerable measure of good ones out there.
I tend to think the number is much better than 99%. Possibly 75%. For one, ICO’s are so new most have not had a chance to fail. They are still trying to launch or build their product. But if I had to guess I would say that because ICOs are well funded that could give them an advantage compared to a traditional startup company. Finding the winners is the key for all of us!
The point I like most from the post, is that they know not how to run an organization, the majority of these folks think since they can compose a code, which is critical they want to run it with the business side of it, they will take in this the most difficult way possible
Good point. Digital money implies decentralize coins, so individuals can utilize it unreservedly, without telling anybody or control by anybody, so for Ripple, as they are attempting to get into bank area, how it going to work? I haven't check their guide yet or white paper, can't tell in subtle elements, yet what I comprehend, swell won't be decentralize crypto, it is controlled by somebody, am certain. since take a gander at their value, it doesn't fall so effortlessly or ho up effectively, so it is controlled crypto coins.
Only large projects of the ICO, with an idea that covers not less than 30% of the world's population, only inspire confidence. Such projects will be supported by large entrepreneurs. It is also very demanding to approach the selection of participants in the campaign for the bounty. It is necessary to get rid of chaos, when everyone praises the project, not deserving even attention.
Of course a lot of truth is said in these words, but I think that the percentage of normal altcoins will be a little more ...
I cannot agree about 99% of alternatives, but I believe that it is possible for 70% to fail, because the projects are weak recent days, and we are not having something really significant and Powerful.
Altcoin is an imitation behavior, imitating famous projects, just changing some parameters and then re-publishing, because they have no constraints after obtaining the investment, and they are guaranteed by their own morality, so the basic use fails
that is only half the problem! and it concerns only a certain percentage of altcoins.
but the main problem which concerns all of them is the fact that the purpose for their creation has never been to solve anything real. for example we call them crypto "currencies" but none of them are "currencies". the developers never intended them to be currencies either. they wanted to make something that can generate a revenue for them so they focused all their energy on earning money. which is why the altcoins all suck!
Most altcoins failed because their main goal or mission is to have a quick profit and not really to solve a problem that could help its users. I am thinking that the true essence of blockchain or this new technology is forgotten because the mindset of most developer is to have a quick and big income.
Altcoin is an imitation behavior, imitating famous projects, just changing some parameters and then re-publishing, because they have no constraints after obtaining the investment, and they are guaranteed by their own morality, so the basic use fails
because they into money and not thinking about developing the project. and many ico is a scam to funding a money. and third project hard to develop cause of lack of money, lack of support, unrealization and other things that make project unable to develop.
Yes, I agree that campaigns nowadays are focus into money and in the projects. I truly agree with his statement because this is proven. All projects with the best and attractive features will survive in the near future. Actually it is not a problem because it is a common thing that happen in the market. Sometimes you lose but sometime you win. It is survival of the fittest. The best project can surely last longer than any other. Ok, but it is not a secret and it is not a problem. The best projects with the most attractive features will live in future ecosystem/infrastructure.
I know it's not a secret, and I am not expecting rewards from all bounty campaign, but what i am trying to say, lot's of bounty campaign refuse to pay the hunters after 3 months of works, is not an ethical and right thing to do. Someone should do something about it because they are getting away with it.
Ok, but it is not a secret and it is not a problem. The best projects with the most attractive features will live in future ecosystem/infrastructure.
That's right, buddy. Good job noticing that.
Disappointed with some bounty program I participated back in November and December, turned out to be a scam, out of 10. I got token only from 3 project rest of 7 projects didn't even bother to communicate or paid. So guys be careful out there, you won't get paid for your work if you don't research before joining.
You're right bud, well honestly it depends on your luck but somehow to make it sure much better to research first. I also experienced on what happened to you mate until now since way back February some campaigns that I joined didn't distribute tokens that feels so disappointed and I don't think they have a plan to distribute. Experience is the best learning as I learned on what I had experienced so by next time I will assure to join a legit ICO Project.
Disappointed with some bounty program I participated back in November and December, turned out to be a scam, out of 10. I got token only from 3 project rest of 7 projects didn't even bother to communicate or paid. So guys be careful out there, you won't get paid for your work if you don't research before joining.
It seems to me that - apart from the current stasis of the market that has blocked everything a bit - the ICOs of success are many more. Then, of course, many are scams and many are badly managed. But there is always a good percentage of successes.
The altcoins fail because they are designed and managed by greedy and incompetent people, who think they can get rich easily and do not realize the difficulty involved in the creation of a currency.
Well, Recently I have noticed Alt coin market saturated, If you visit the Alt coin announcement or bounty, you will notice every hour, there is a new coin announcement.
So my question is, how many % of those new alt coin survive in long run? let's say 1 year? 2 years? or even 5 years?
99% of them will fail within first year. Here's why:
1. People making millions of crypto currency, we can make it, lets make a coin.
2. People have no idea, what they are getting in, and how to run a company or organization.
3. People wants easy money.
4. No reputable organization or company behind the idea.
5. Most of people under 25, wanaa be entrepreneur, without any background or knowledge.
6. Most of the alt coin start with ICO, expecting to collect millions of dollar from it, without any capital.
7. How many new alt coin company can run of 20 to 25 dev team? not many.
8. Without zero marketing idea, or how to market the coin.
9. When coin price doesn't go up in couple of months, they give up.
10. If we can list on exchanges, we will get rich!
And list goes on... Post your opinion, why 99% alt coin will fail?
The rest of 1% Alt coin will survive beyond 2020 because >
1. They have a purpose and ambition.
2. They don't go after money, rather working hard to maintain back end.
3. Strong Development team, who knows what they are doing.
4. Keeping touch with social media, updating every move and letting investors know, they are in good hand.
5. Trust factor, you have to show that public will trust you.
6. Regularly have conference, at least twice a year and update investor, what's going on.
7. A clear road map, and actually follow it.
8. Thinking long term.
9. Hire actual marketing people rather than depends on this forum only.
10. There are million of people who doesn't use Facebook, Twitter, Instagram, you have to learn how to reach them.
11. Stop depending on Social media, We all know 70% people use social media is under 25 and they are student. They are not investor.
12. Try to connect your coin with any company, or organization, no matter how small it is.
13. Go slow, don't worry about your price, worry about your project and stability.
14. Hire online entrepreneur or even a YouTube star, if your audience is young and target market under 25.
I can go on and on but these are my opinion to be a successful in this field.
So my question is, how many % of those new alt coin survive in long run? let's say 1 year? 2 years? or even 5 years?
99% of them will fail within first year. Here's why:
1. People making millions of crypto currency, we can make it, lets make a coin.
2. People have no idea, what they are getting in, and how to run a company or organization.
3. People wants easy money.
4. No reputable organization or company behind the idea.
5. Most of people under 25, wanaa be entrepreneur, without any background or knowledge.
6. Most of the alt coin start with ICO, expecting to collect millions of dollar from it, without any capital.
7. How many new alt coin company can run of 20 to 25 dev team? not many.
8. Without zero marketing idea, or how to market the coin.
9. When coin price doesn't go up in couple of months, they give up.
10. If we can list on exchanges, we will get rich!
And list goes on... Post your opinion, why 99% alt coin will fail?
The rest of 1% Alt coin will survive beyond 2020 because >
1. They have a purpose and ambition.
2. They don't go after money, rather working hard to maintain back end.
3. Strong Development team, who knows what they are doing.
4. Keeping touch with social media, updating every move and letting investors know, they are in good hand.
5. Trust factor, you have to show that public will trust you.
6. Regularly have conference, at least twice a year and update investor, what's going on.
7. A clear road map, and actually follow it.
8. Thinking long term.
9. Hire actual marketing people rather than depends on this forum only.
10. There are million of people who doesn't use Facebook, Twitter, Instagram, you have to learn how to reach them.
11. Stop depending on Social media, We all know 70% people use social media is under 25 and they are student. They are not investor.
12. Try to connect your coin with any company, or organization, no matter how small it is.
13. Go slow, don't worry about your price, worry about your project and stability.
14. Hire online entrepreneur or even a YouTube star, if your audience is young and target market under 25.
I can go on and on but these are my opinion to be a successful in this field.
Well, I think these are the completes reasons why Altcoin will have no value in the next a few years.
Every day a new token or coin was born. But you are true, most of all don't have any clear purpose except only getting a quick profit.
I think you underrate the social media influence. This is not only for students, it affects all segments of the population from young to old people. Anyway I agree with your idea. There a lot of scam ICOs
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