An year ago all the altcoin crypto-currency was brand new and the volume of the trades were much higher.
I guess its a dying world
Topic: Why are there no new coins in the top 20? - page 2. (Read 2132 times)
Why? Because of the altcoin bear market and consequent "new coin fatigue."
This pattern isn't unique to crypto; not by any means. When gold goes into a bear market, the senior producers get whapped; the juniors get clobbered; the exploration penny stocks get crushed. The smaller the company, the more its stock is damaged by a gold bear.
By an interesting coincidence, both exploration stocks and smaller altcoins are in the same funebrial boat. Have a look at this article from Brent Cook, a legendary geologist in the penny-stock field:
https://www.explorationinsights.com/pebble.asp?relid=29900
----------
A much more experienced hand than me could use the above article as a template for the altcoin world! The boom-town patterns are that similar, with the exception that altcoin time is faster than exploration time.
This pattern isn't unique to crypto; not by any means. When gold goes into a bear market, the senior producers get whapped; the juniors get clobbered; the exploration penny stocks get crushed. The smaller the company, the more its stock is damaged by a gold bear.
By an interesting coincidence, both exploration stocks and smaller altcoins are in the same funebrial boat. Have a look at this article from Brent Cook, a legendary geologist in the penny-stock field:
Quote from: Brent Cook
What was it like, Dad?
It was tough kid. We were just coming out of the most perfect spring. The fruit trees were all in blossom, streams filled with fish, deer abounded, and we were all feeling pretty right with the world—we owned it and were the chosen ones.
Then we headed out across the flats, believing the prophets that the next paradise, just over the horizon, was even better. But the horizon never came, the land turned to salt flats and dust; the temperature reached 110°, day after day after day. We burned and suffered. The roving bandits knew we were doomed and had no interest in what little we had left. Each promising oasis was a mirage and one by one we lost our way, numbed and staggering in all directions. We lost nearly everyone on that journey which began so optimistically—and naively.
It was brutal and devastating kid; I hope to never go through that again. But some of us did survive to carry on, and I’m here to tell you about it....
Yeah, right, I’ve heard that, but like, what about the 1997 to 2002 mining bust?
Well, that wasn't really much different kid. We had come off of a truly remarkable mineral discovery boom from 1992 to 1997. The diamond discoveries in the Northwest Territory were fabulous: Diamet went from $0.21 to $55. Aber Diamonds (now Dominion) had a 40% interest in the Diavik discovery and went from $0.50 to $50. In Labrador, another company looking for diamonds, Diamond Fields, stumbled across a nickel showing (Voisey’s Bay) that was eventually acquired by Inco for $164/per share. It had been a $5 stock.
You see the world had suddenly been opened to modern exploration and all we had to do was Go There: we could do no wrong. Huge area plays developed around these discoveries, and the juniors with land on trend or close by doubled and tripled in a matter of months-- regardless of the geology or prospectivity.
Corriente Gold traded up to $18 on a project in Peru that it never had to drill. Arequipa Resources, a copper explorer, put a bunch of holes and a tunnel into the Pierina gold prospect in Peru and went from $0.60 to a buyout price of $30 in nine months. Francisco Gold’s El Sauzal discovery in Mexico took the share price to $40. Queenstake went from $0.07 to $4.50, based on its Kilometer 88 projects in Venezuela.
What, you never heard of these companies? It figures.
I fondly recall my first trip to the Prospectors and Developers (PDAC) conference in March 1997: landing there after a field stint in Brazil (for which I was stiffed) with little more than a windbreaker and a couple of phone numbers. It was an amazing site to behold. Money was flowing everywhere and to everyone—even the strippers were getting rich on insider stock tips. I was literally stunned to see some geologist in khakis working a booth raise $2 million in a matter of minutes, based on a satellite color anomaly somewhere in Mongolia-- on a piece of ground I don't think he even controlled.
It was oysters and champagne at the Canoe Club, lavish parties thrown by all the brokerage firms; even the geologists were invited—engineers, not so much. Greed and speculation were rampant, risk unheard of, and failure? Virtually impossible.
It all seemed so irrational, yet real.
That was the year John Felderhof received the Prospector of the Year award for the 70 million going-to-200 million ounces Bre-X had found in Borneo. Bre-X went from $2.60 to $275 within a three-year period. It was obvious that nearly every one of us was a genius and sitting on millions in profits. We knew it as just going to get better.
Then things began to sour.....
It was tough kid. We were just coming out of the most perfect spring. The fruit trees were all in blossom, streams filled with fish, deer abounded, and we were all feeling pretty right with the world—we owned it and were the chosen ones.
Then we headed out across the flats, believing the prophets that the next paradise, just over the horizon, was even better. But the horizon never came, the land turned to salt flats and dust; the temperature reached 110°, day after day after day. We burned and suffered. The roving bandits knew we were doomed and had no interest in what little we had left. Each promising oasis was a mirage and one by one we lost our way, numbed and staggering in all directions. We lost nearly everyone on that journey which began so optimistically—and naively.
It was brutal and devastating kid; I hope to never go through that again. But some of us did survive to carry on, and I’m here to tell you about it....
Yeah, right, I’ve heard that, but like, what about the 1997 to 2002 mining bust?
Well, that wasn't really much different kid. We had come off of a truly remarkable mineral discovery boom from 1992 to 1997. The diamond discoveries in the Northwest Territory were fabulous: Diamet went from $0.21 to $55. Aber Diamonds (now Dominion) had a 40% interest in the Diavik discovery and went from $0.50 to $50. In Labrador, another company looking for diamonds, Diamond Fields, stumbled across a nickel showing (Voisey’s Bay) that was eventually acquired by Inco for $164/per share. It had been a $5 stock.
You see the world had suddenly been opened to modern exploration and all we had to do was Go There: we could do no wrong. Huge area plays developed around these discoveries, and the juniors with land on trend or close by doubled and tripled in a matter of months-- regardless of the geology or prospectivity.
Corriente Gold traded up to $18 on a project in Peru that it never had to drill. Arequipa Resources, a copper explorer, put a bunch of holes and a tunnel into the Pierina gold prospect in Peru and went from $0.60 to a buyout price of $30 in nine months. Francisco Gold’s El Sauzal discovery in Mexico took the share price to $40. Queenstake went from $0.07 to $4.50, based on its Kilometer 88 projects in Venezuela.
What, you never heard of these companies? It figures.
I fondly recall my first trip to the Prospectors and Developers (PDAC) conference in March 1997: landing there after a field stint in Brazil (for which I was stiffed) with little more than a windbreaker and a couple of phone numbers. It was an amazing site to behold. Money was flowing everywhere and to everyone—even the strippers were getting rich on insider stock tips. I was literally stunned to see some geologist in khakis working a booth raise $2 million in a matter of minutes, based on a satellite color anomaly somewhere in Mongolia-- on a piece of ground I don't think he even controlled.
It was oysters and champagne at the Canoe Club, lavish parties thrown by all the brokerage firms; even the geologists were invited—engineers, not so much. Greed and speculation were rampant, risk unheard of, and failure? Virtually impossible.
It all seemed so irrational, yet real.
That was the year John Felderhof received the Prospector of the Year award for the 70 million going-to-200 million ounces Bre-X had found in Borneo. Bre-X went from $2.60 to $275 within a three-year period. It was obvious that nearly every one of us was a genius and sitting on millions in profits. We knew it as just going to get better.
Then things began to sour.....
https://www.explorationinsights.com/pebble.asp?relid=29900
----------
A much more experienced hand than me could use the above article as a template for the altcoin world! The boom-town patterns are that similar, with the exception that altcoin time is faster than exploration time.
I think it is because the most new coins are scams or not serious run projects. Of course there are exceptions like NEM or ShadowCash but they need to show their potential first before they hit the top 20 or 10.
By the way, SuperNET is not a coin, it is an asset similar to a stock.
By the way, SuperNET is not a coin, it is an asset similar to a stock.
You're right. I'm not sure how I missed that.
It seems that the coin with the 20th largest market cap is BitcoinDark then which is a one year old coin.
NEM was launched fairly recently but the project is actually almost as old as NXT itself. I've noticed that many of the altcoins that currently occupy the top 20 were created in the months immediately after the November 2013 BTC bubble which saw a lot of money getting poured into altcoins as well. Once it became clear that the BTC price was continuing to fall and was taking altcoins along with it, I guess the flow of new coins sort of dried up. Also, people probably got weary of seeing a new coin getting pumped every week and then fading into obscurity.
I think it is because the most new coins are scams or not serious run projects. Of course there are exceptions like NEM or ShadowCash but they need to show their potential first before they hit the top 20 or 10.
By the way, SuperNET is not a coin, it is an asset similar to a stock.
By the way, SuperNET is not a coin, it is an asset similar to a stock.
people are butthurt of losing money with new coin. the trend need to stop as innovation have stop, all new coins now are nothing but copy scam coins. only creators(scammers) are making money right now. what altcoins really need right now is spreading to the mass mainstream, not scamming each other. altcoins really need fresh meat at this point.
The importance of market cap is highly overestimated or sometimes even misunderstood.
Market cap alone really doesn't tell anything even remotely important about a coin.
I think liquidity and distribution are what people should start looking at first when trying to gauge a coin, but that's just my opinion.
Market cap alone really doesn't tell anything even remotely important about a coin.
I think liquidity and distribution are what people should start looking at first when trying to gauge a coin, but that's just my opinion.
Looking at the top 10 coins according to Coinmarketcap, they are mostly older coins (coins younger than 1 year old are in blue):
1. Bitcoin (~6 years)
2. Ripple (~3 years)
3. Litecoin (~3 years)
4. Dogecoin (18 months)
5. BitShares (19 months if one counts Protoshares)
6. Stellar (12 months)
7. Dash (16 months)
8. Nxt (19 months)
9. Banxshares (8 months)
10. Peercoin (~3 years)
The coins which occupy the 11th to 20th positions on CMC are mostly older coins too:
11. MaidSafeCoin (14 months)
12. Namecoin (~4 years)
13. Bytecoin (~3 years)
14. Monero (14 months)
15. BlackCoin (16 months)
16. Counterparty (18 months)
17. Vertcoin (18 months)
18. YbCoin (~2 years)
19. MonaCoin (18 months)
20. SuperNET (10 months)
If you look at snapshots of CMC from June 2014 (example), you'll notice that roughly 1/2 of the coins in the top 10 and most of the coins in the next 10 were relatively new:
1. Bitcoin (~5 years)
2. Litecoin (~2 years)
3. Nxt (7 months)
4. Darkcoin (4 months)
5. Peercoin (~2 years)
6. Ripple (~2 years)
7. Dogecoin (6 months)
8. Namecoin (~3 years)
9. BlackCoin (4 months)
10. Mastercoin (12 months)
11. Bytecoin (~2 years)
12. Monero (2 months)
13. BitShares-PTS (7 months)
14. MaidSafeCoin (2 months)
15. Counterparty (6 months)
16. XC (2 months)
17. Quark (12 months)
18. Vertcoin (6 months)
19. Zetacoin (11 months)
20. Qora (4 months)
Is innovation slowing down? Are the days of investors making massive profits by mining or buying into a brand new altcoin early on and having it shoot up in value over? Seeing how so few new coins are able to make it into the top 20 these days and the whole scene is now dominated by older established players like NXT and Dash, is it even worth keeping up to date with new altcoin launches anymore?
1. Bitcoin (~6 years)
2. Ripple (~3 years)
3. Litecoin (~3 years)
4. Dogecoin (18 months)
5. BitShares (19 months if one counts Protoshares)
6. Stellar (12 months)
7. Dash (16 months)
8. Nxt (19 months)
9. Banxshares (8 months)
10. Peercoin (~3 years)
The coins which occupy the 11th to 20th positions on CMC are mostly older coins too:
11. MaidSafeCoin (14 months)
12. Namecoin (~4 years)
13. Bytecoin (~3 years)
14. Monero (14 months)
15. BlackCoin (16 months)
16. Counterparty (18 months)
17. Vertcoin (18 months)
18. YbCoin (~2 years)
19. MonaCoin (18 months)
20. SuperNET (10 months)
If you look at snapshots of CMC from June 2014 (example), you'll notice that roughly 1/2 of the coins in the top 10 and most of the coins in the next 10 were relatively new:
1. Bitcoin (~5 years)
2. Litecoin (~2 years)
3. Nxt (7 months)
4. Darkcoin (4 months)
5. Peercoin (~2 years)
6. Ripple (~2 years)
7. Dogecoin (6 months)
8. Namecoin (~3 years)
9. BlackCoin (4 months)
10. Mastercoin (12 months)
11. Bytecoin (~2 years)
12. Monero (2 months)
13. BitShares-PTS (7 months)
14. MaidSafeCoin (2 months)
15. Counterparty (6 months)
16. XC (2 months)
17. Quark (12 months)
18. Vertcoin (6 months)
19. Zetacoin (11 months)
20. Qora (4 months)
Is innovation slowing down? Are the days of investors making massive profits by mining or buying into a brand new altcoin early on and having it shoot up in value over? Seeing how so few new coins are able to make it into the top 20 these days and the whole scene is now dominated by older established players like NXT and Dash, is it even worth keeping up to date with new altcoin launches anymore?
Jump to: