Topic: why are there so many coins and the reason why some developers failed (Read 636 times)

Not all tokens creators are real blockchain developers in the first place so what do you expect? They create junk tokens to grab some cash and exit the market with big smiles on their faces, if there is a way to screen every single developer in the crypto space many will be unqualified.

You have said it all. The reason for failure is not far from all you have said. A lot of developers just do copycat project and end up stuck with the project because they lack ideas on how to push it forward.

I think that your 1. point is the biggest reason why most alt coins fail.  There were unfortunately some coins that got only developed to scam people. Looking at them is not really helpful because the designed from the start to only be active for a few months after launch. As soon as the developers manage to get rid of their coins, trading should slowly disappear until the coin is worthless. For active managed coins that try and succeed, its very important to set enough money away for the time after the launch. A successful coin not only needs promotion before the launch phase but also after it. The most important aspect is to have liquidity in the coin to allow quickly buying and selling. The less trading happens in a coin the more will be investors cautious to invest in it.

I think that the reason why they fail is very simple, those who create cryptocurrencies do not all do it with good intentions, the intentions that do it the most is to profit themselves through them, however when they do a good job and achieve good community, the coins can be maintained over time and become coins that only survive in Pump and Dump, the ones that have the most relevance are those that reach Binance and from there they can make those movements, this is very common and I think that for that is the reason under which there are so many crypto projects, it is a lottery to say which project is worth it.

Obviously they will sell their coin in exchange for a more better coin or cash (fiat) because that will help them continue the project that they are building or what you mean by sell is they choose the money over their project?

Well, there are projects like that. If the developers and the team are greedy, they will realize that they are holding a huge amount of money on their hands so why will they need to work hard and use all this money for the sake of their coin? but they don't think that if their coin gets better, many people are going to invest on it which can give them a better earning than the amount that they are trying to get away with.

In reality, there are only a few that will survive, but along the way we may see more new coins to offer.

Project that will allure investors with new offers that really engaged investors' interest, like what you said it will be depending on
how investors and traders will react and take the advantage of making a decent amount of profits, but in the same sense, developers
who intend to runaway will always take more money compared to those who will manage to ride first. Very risky to take a new project.
but if there's real usages you don't have to worry, it will rise if the intention is for real.

It is not correct to say lack of funding for the project in the first point IMHO, there are millions dollars when they carry out fundraising or private sales at the beginning of the project.
There is only a rift in teamwork, due their own internal greed that causes them to fail and work halfway because they have been paid in advance from their sales in the ICO or private sale.

Yes, you're right mate, the success of one project depends on the development team and also on what kind of project they are going to propose to the people. The use case of the project was still the main consideration here and also I can say that lots of coins or projects are dead and failed because the project is just copying the old projects that existed, copycat in short. Well, somehow I knew that these new coins are just trying to resolve the problems of the existing project however most of the time copycat projects didn't work.

You got that right. Most projects are simply copies from one another, as developers are only focused on making money as fast as possible. Only a small number of projects survive because they deliver real use cases to the mainstream world. It'll be up to the investor to decide which project he/she wants to pour money in for the long haul. As long as the coin you've selected has strong fundamentals, you'll have nothing to worry about.

Remember, it's not about how many shiny new features a cryptocurrency has. Rather, it's all about preserving decentralization/censorship-resistance and bringing banking to the unbanked. I wouldn't be surprised if most coins die, leaving us with a very limited number of cryptocurrencies to choose from. Just my thoughts

a big sale with lots of investors but the product isn't marketed or isn't in demand. then after the coin is registered the price will be destroyed. many investors withdraw their money from such projects.
they are strong and busy when selling but they are weak in doing project updates. especially in their community management. if investors are disappointed of course they can withdraw their money quickly. and many new projects make mistakes like that. not to mention projects that have to compete with projects that already have a strong market. Of course, gaining investor confidence will be difficult.

It is not entirely right if you exclude the urge of the scammers to make some fast money. All other coins are trying to make a real product and of course because of the lack of investments and experience they fail to move forward.
If you think of those coins like they are an established company that tokenized its products than a number of 5k to 10k coins/companies is not that much. You can find more than 10k companies in a single small country so there is still a lot of room for much more.
Any business can fail, big or small.

Actually, bonuses in the selling phase aren't a problem as long as the project has a long-term program that can guarantee for the development of the project and the token value. Sadly, as you know that many new projects only focus on marketing for the selling phase. They prioritize only for selling all their tokens as much as possible. Even worse, if the project has no product offered for a long-term goal. We simply can guess that the project will fail or won't survive a long time.

A potential project will turn into a great project if it falls into developers who have long term vision for it. Those who have good plans that the project will be more useful in the future and will always gain high demand from the community. But its hard to find developers who are not driven with money. Once greed will be present, even how potential a project is, it will never become in demand because the developers have wrongly managed it.

Now many fake project get into market.The only motive for such project is just to generate revenue.They will create a fake whitepaper for the project. They won't directly work with the project.They just requited huge workers for their project by making them to accepted of their token as the payments to them. They make the workers to believe that, they will say the workers.They will list on good exchanges and make workers greedy. But the developers scam at the end.

This is a huge issue in the market, after all since most of the code is open source there is nothing which protects investors from this scenario, after all everyone knows how to copy and past a piece of text and even the most rudimentary knowledge about how the blockchain works could allow a person to modify the code on the surface to make it look as a new project when in fact more than 99% came from another project, which is yet one more reason to doubt about the absurd claims that the developers of altcoins make all the time about the bright future of their coins.

A copycat that tries to allure investors just to collect investors' money. 

It's true that only few have a bright realistic and innovative ideas.

Most are a copy from other developers and trying to make it more usable, but in the real sense,
it's just the same concept with some tweaks that sometimes investors are being fooled, believing
that the project will prosper and provide a decent amount of profits.

Best to sort everything first before you trust the team. It's not always the developing fund, but the ideas that's not
original that causes the project to fail.

I think why many altcoin projects have failed because they only sell coins and give some bonuses to each buyer through sales, but they don't offer a long term program that they will do in the future. because I think many investors are interested in projects that have long-term prospects by launching various programs and products. so many projects fail because they only build short term projects.

I will respond to points 1 and 2.
1. usually at the time of the token sale the development team will provide softcap and hardcap targets. Softcap is the minimum fund needed by the development team to build a project and if the target is not achieved the team will return all funds to investors.
2. failing does not mean fraud because sometimes when it is released on the market the market response is not as expected and makes the token price drop very deep. Poor marketing techniques can cause this to happen.

As simple as that, innovative and groundbreaking ideas are rare and only a few individuals are capable of them, most developers simply do not know enough to produce those ideas and as such they just keep releasing projects that are direct copies from the work of someone else, claiming that their project is revolutionary when that is not the case, however since their potential investors do not know a lot about cryptocurrencies either this tactic works and they can obtain a lot of money in a relatively short amount of time with almost no effort.

Practically speaking, they should've known that their business model has nothing to do with blockchain, in fact, in some cases, incorporating blockhain made the model is worse. I rather say to put simply they are just here to scam or deceive people, they have no interest in making usable and useful products/services.

Developers have been more profit centered rather than being project centered so they tend to forget their goal which is to make the project work and let the community see its worth. Because if the community will see that the project has real utility case, the community itself will be the one battling to invest in it. Unfortunately, most of the new projects have no long term effects on the community because the developers fail to develop it. Instead, they focus more on their own selfish needs rather than the need of the project to succeed.

New developers fail, because they dont bring new or innovative. All they do is repeating other peoples ideas while adding a pinch of individuality. They aim is to earn now, earn quickly, easily. The are similar to beverage manufacturers. They just add new taste, recipe, color, elements, when the base is just plain water. All they want to replace water, but it will always remain as most popular element, like bitcoin.

My favourite p2e project is Engine. It has various features including an arcade, NFT marketplace, VR rooms, AR services and a native token. With all that, I strongly believe it won't fail after several months of running.

I've heard about illuvium before they look solid but never heard of lunafi, got any more info of them ?

Revenue from token sales at the time of sale does not guarantee the success of a project. There were many new tokens that appeared in early 2021, which made the meme token the star of the market at that time. Likewise with the P2E hype because of the axie, there are also many P2E tokens that get large funds, but still fail after several months of running. this is enough to prove that it's not just token sales and large amount that affect the future of a project, but the seriousness of the development team. If they are not serious, then they are likely to fail, because their target is money for themselves not for project development.

I can agree with you, and what is also essential for me is that community of project must be always alive and should stikc togheter as one, cause we as a people making some platform exist. That is why i always watch out for how community also looks and interigate with their customers. There are plenty more to come and some will succed some will failed, i want to help as ell them which i did with illuvium and lunafi when they launched platforms, cause i'm sticked around community and everything looks good for now.

Apart from the internal factors of the project, market conditions also greatly influenced the development of the coin.
When we are in a bull market so many projects are easy to succeed here their coins are sold out - in exchange - boom.
However, when the market is in a bear market, it will actually complicate the development of the coin even though it has large funds, because most of the trading community or cryptocurrency will judge the success rate of the coin from its high price or can survive in extreme markets but currently only a few projects who can survive in that situation.

The failure of the project was caused by many things including the lack of trust of community members in the project, Bitcoin is an example of a successful project that has gone through years of rejection from several countries and Bitcoin to date has had many communities, previously listed on the exchange, Bitcoin is used to pay for pizza, this is what surprised me, while many crypto exchanges exist today, some projects find it difficult to register due to high registration prices on crypto exchanges, new projects will not fail if they have new products and a solid community

There are certain coins that are bound to succeed, and some are not. But how the developers created and launch the project creates a big difference. However, most developers failed due to bad publicity of the coins, some security issues, unethical behavior, and unclear progression paths. Developers were not focused on the long term impact of the project, instead they are more on the immediate result which is to make profits. If the desire is  intended for only the developer's satisfaction, then it will never be successful no matter what. https://qrius.com/the-top-5-cryptocurrency-failures-of-all-time/amp/

This is why I do not believe on the promises of most of those developers, after all it is very easy to say they will do something but a completely different thing to actually accomplish it, besides how can they know how much money they need to get from their presale if they have yet to write a single line of code? Because of this the only projects in which I can see some sort future are the ones in which the developers have done everything they could do without the help of the community and only asked for funding when they hit a roadblock they could not get over it without money, in that case you could see the developers are serious as they would have been working in their project for months or years without pay, but unfortunately developers like that are very rare these days.

All what developers can give investors are words, it's only later we will know who are serious and who doesn't give a heck about investors, this is one of the reasons why BTC will forever be the best of the best, fully decentralized with no CEO right on top of it.

Many developers are creating coins and tokens for experimental purposes not all of them are blockchain experts and once they have a clue about this they will create a better one with probably not good enough use case, some even want to enter this blockchain technology just to grab quick money.

Apart from the factors you mentioned, the influence of market weather is also very important.
Because so many fail to survive in extreme market weather.
some of them have to deliberately announce to leave their project or they just disappear because the market is so tough right now.
Apart from that, the failure of a project also includes the duplication of a successful project from a similar name or concept, they are classified as uncreative projects.

That killer line is an obvious a soon to fail project, so we should really avoid that kind of tokens and learn from the failed projects in the past. Its easy to create tokens but not all are ok to buy, and there’s a lot of reasons why many projects failed and failing, always go for the good projects on a top tokens as much as possible, it can lower the risk since they are already on many exchanges.

I think there are developers working on projects to build other projects that exist in the real world and they collect income. We remember that coins were published to help develop other projects, for example for online watching applications in the past, or developed for just the gambling world.

It's easy to trace or find them when they tell potential investors that they are the meme or Doge killer or they are a fork of this coin and they are a better version, expect their coin to live on hype, a coin that draws its strength from other coins are useless and shitcoins, we have seen it in the so many Bitcoin fork in the past which they are a better version of the original Cryptocurrency.

Funding will be one of the reasons why I agree. But, many projects actually could get their soft cap at least ad moreover hard cap very easily. But, after the finish of the token sale, they seem not really to be serious. Some of them are not going to list their tokens or coins as soon as possible in the exchanges. They commonly will need longer times for several months to get listed even in the small exchanges. This is about seriousness. If the team is exactly serious, with enough money, they have prepared the listing as soon as possible after the tokens ale in order to list sooner the token or coin. Byt in fact, most of them don't do it. That is why, enough funding but without any seriousness will also mean nothing.
We have seen this phenomena so massively happen and most of the projects will not continue to the exchange, end in the wallet, and never listed on exchanges, become shitcoin and dead projects.

Additionally, many new projects seem not to be so serious in developing and managing their project after listing. Moreover when the token listed in exchange is suddenly dropped very much. they seem not care again with the token and leave them

Unfortunately this is true, many developers are not interested in creating a long lasting project out of their coin, and there are many reasons for this, like being to difficult, being unable to do so and too much competition, so as soon as they gather enough funds then they decide to just forget about the project, but in order to not look like complete scammers they simply delay their exit and make it seem as if the project just died naturally, even if they were the ones to kill it so they could just move on and create yet another coin or begin to spend their ill gained profits.

the first thing was  developers capability creating and building qualifying product that have utility in crypto market. so far alot developers only creating funny project which is the main purpose only take money from unprofesional investors which is speculate their money into shitcoin. money could come itself if project running well, alot venture capital concern in this market and they look at good project.

alot fake developers take a chance to rob our investors money by creating shit projects. we must becarefull when met this kind projects

New projects will keep popping up, but the fact is that most new projects are just a copycat of the previous project. Because most new projects are
created to raise funds and provide benefits for the project development team, if they already get a profit then they immediately leave the project.
That's why investing in new projects is always high risk, because that is the reality in the crypto industry.

Therefore, I always focus on investing in old projects that already have a good track record. Maybe if I invest in new projects I only use very small
capital, so if the projects fail to make a profit, I don't panic. Therefore, if we do not have the ability to do research and analysis to choose good
projects, don't take the risk of investing in new projects, choose top coins that are safe for investment. So don't be easily attracted by the big
profits promised by the team of developers from the new project, because the reality is not as good as we imagine. Therefore don't ever think
crypto investment can make us rich instantly, getting rich from crypto investing is need a long process. Forget looking for new projects that can
give us 100x-1000x profit because it will only make us lose in the end.

I would probably say that the competition among the top coins is intense, however the number of good projects that appear each year is very limited, especially if we compare them to the number of projects that were created during the same time span, so as long as project has good developers which will not quit the project no matter what and they are honest then their coin could easily make it to the top 100 coins in the market, and only once they reach that point is when they will begin to face some real competition, and that is when we can see if they have what it takes to beat other similar projects and make it to the top of this market.

I honestly think that the dimension that a lot of people neglect is marketability.

Sure, you can come up with the best solution, with the most amount of funding by institutional VCs, etc., but if you can't market your coin/ecosystem to the layman, then you're probably not going to attract a lot of long term users.

This is why DeFi protocols like $FTM and $SOL are so successful - they appeal to the retail with cheap fees and fast transactions.

After they gather huge funds from their investors, they are more likely to conclude their project and stop developing or updating it. to keep their community alive, they will keep updating them with news and some false promises which they don't have any actions or plan to really do it in the first place. they also keep changing their road maps which doen't really make sense and finally they will dissapear with their investors money. Most of the time, this is how the pump and dump coin works, so you really need to be vigilant to avoid them.

As you said, there are definitely many cryptocurrencies and dozens of them are joining it every day. Projects that continue by emerging for real operation and technology prove themselves in every period and continue on their way. But, as you said, many of them have to leave the project halfway because they do not have enough financial support or cannot find it. Most importantly, internet fraud, even normal fraudsters, is inexhaustible. That's why it's really a good fit for cryptocurrency scammers. As a result, the vast majority of projects and tokens are created purely for the purpose of defrauding people. Such projects are not interrupted anyway, their aim is to make a big money smash and run away.

Caused by they were incompetent developers and they didn't know what they should do about that. They are wasting their money to buy lambo. Those greedy amateur developers only want money and no more. They didn't even care about the product or even investors who have been contributing for them all to develop the product based on what they have promised. I would like those as scammers.


Not everybody is able to become a developer especially to create a new product that is fully based on the various programming language and new tech like crypto. The programming language was not easy and i do know that so well about how difficult to create a new product. They called themselves as developers when they have no idea what they will be doing.

It is because of this that buying coins that run above a blockchain of another project is a bad idea, after all they are not creating their own ecosystem and instead they are relying on the ecosystem of another coin, but why do developers do this? And this simple to know, developers do this because this is faster, and since they do not really care about the development of their project at all then they try to rush the project to the door, so they can get financial support from the community as fast as possible.

It's time for investors old and new to rethink what they what to achieve in investing in Cryptocurrency they cannot go on like this investing in pump and dumps coins that will incur losses, they should set their eyes and funds to worthwhile projects with long term stability, pump and dump projects are high-risk investment it's gambling and investors will end up losing their money.

I generally agree with your views. Most cryptocurrencies do not have a sustainable economic model. A good project should be financially self-sufficient (It should create its own ecosystem). However, as we have seen, most cryptocurrencies try to enter the market by selling dreams. In this case, disappointment for investors is inevitable. We are experiencing very natural things. Getting a rabbit out of a hat is the magician's job. Such things do not happen in real life. :)

The commitment of the developers is key, after all not everyone can be like satoshi and develop a completely original idea from zero, even if the project in which a set of developers is working is derivative as long as they are willing to work hard then their project can succeed, the issue is that many developers do not really have that drive and instead they just want to get money out of the community and as soon as they do they lose interest in actually trying to make their project work.

Well, having an insufficient funds is also one of the reasons why most of the projects fail because this will lead to hire less experienced developers because they are only asking lower rate. And in most cases, having lesser funds is always doom for the failure of the projects or the developers themselves. However, i have provided the most common reasons why projects or its developers fail. Read here: https://thecodest.co/blog/why-do-software-projects-fail-most-common-reasons/

Excuse me, funds isn't everything and if all a developer can think of is fund they shouldn't release any crypto project because I'm come to understand that projects with zero funding are more serious than those that rely completely on funds.

You got that right. It's so easy to copy Bitcoin's source code and launch a new coin with the hopes of making a quick buck in return. Some developers managed to make large amounts of money with their persuasive tactics. But others haven't been so lucky due to bad planning. While it's easy to launch a cryptocurrency of your own, it's not easy to maintain it. Crypto projects that stood the test of time had to deliver innovation and use cases to the real world in order to be in the place they are right now.

Ultimately, a community is what makes a coin stronger. If your project has a decent community backing it, you can rest assured it'll last for quite some time. I wouldn't worry about having millions of different cryptocurrencies in market cap, since this is normal of the open-source nature of Blockchain tech. As long as crypto/Blockchain tech fulfills its purpose, nothing else matters. Just my opinion

One of the reasons why we have so many coins is because the industry is decentralized which gives everyone the same privilege or opportunity to set up a project and launch a token. The market is liberal and everyone is allowed to deal directly or indirectly with one another.

I try to take the first point from the statement above, namely the lack of funding both in the initial and other aspects by the developer even though the product already exists. It is acknowledged that the funding readiness factor is the main one. In my opinion, the presence of investors is needed in this case and what investors want most is to focus on projects that are fundamental and long term. well, this is actually homework for the developer to make it interesting, so they stay calm and focus on what is invested in addition to other supporting factors.

There is no doubt that it takes a whole lot of effort to develop a successful business or project, but what we see most often in the industry are projects developers without direction and looking at some projects from a distance it would be clear that the project is on a course towards failure.

less precise, because it is impossible that they do not have a development plan. when a new project is first launched, I'm sure they have thought of everything from funding and so on. the biggest reason why they fail is because from the start they only think about money.

The problem is not everybody has enough skill to do that. Crypto relatively new in the technology and development. They have been creating good idea but again it's not only about idea and people who wanna be crypto developers must have good skill. In this case if the skill will be playing the more important role in the cryptocurrency. This caused by when someone created a project without any skill and im sure that if that will be failed project or the creator will leave it as it has become useless project with no future.
There are also so many cases about this. So many scammers have been trying various idea to steal money from others.

Of course they can see it because bitcoin is already there and the documents of it are already laid out, they can just read it to know if what is bitcoin for and why it is built. The vision of btc is for the people to have a currency that is free from banks and government regulations.

If there are things that btc is not good at, that is the speed and the fee. They can create a coin that solves this issue but the problem is someone already built a coin like this so what are the other coin developers after at? it can be clear that they only want is to profit. Greedy coin devs didn't fail just because their coin died but they are successful because they already earn during the pre sale of their coin.

Because, it is easy. The codes are out there, the open-source codes of pancakeswap is a great example to defi world for example, or any other simple token is literally just out there. Check one of the audited places from Certik and you will see plenty of codes from legit places. Just take their code, change it to whatever you want, and publish it, if you want you could get it audited and any mistakes will be found and you could change it and do it again, so that you would have perfect code. Design of a website is as simple as it gets, web developers are dime a dozen.

So, if you spend like 10k, you could create a project, put some marketing on top of that and you got yourself a new project. It is really THAT simple and people wonder why there are 17k+ in CMC alone, and there are tens of thousands not even listed there.

I do agree that most meme coins are shit coins. They only utilize the common condition, its hype, pump, and then the price will go dumped to the bottom.
And this condition is utilized by many people who have been usual with the concept of meme coins. Thye can multiply their money from meme coins. But other people who are new and the victims of the coins, will lose their money, lose their hopes to take profits.
Only very few meme coins can survive in long term. It can be counted with our finger only.

Lack of commitment, there are many new project developers who don't show their team and they have an idea then raise funds and and some successful projects, For example Bitcoin, Bitcoin does not have a team, but has a community that can help satoshi while carrying out the idea. I don't mean to compare it to the OP, but the idea and product is the key to the success of a project

As an investor, we should always check the motivation of the developers and we can see that if they are not dedicated to the fulfillment of their roadmap and stop communicating with the community, in the first place investors invest because of what they've seen on the roadmap and whitepaper, this is where the potential starts but if the developers are not motivated investors will dump the coin and the project becomes a failure.

To put it simply, most of the projects can be achieved without incorporating cryptocurrencies, their business model can simply just exist without a so-called blockchain that will solve all things and as a buzzword for their funding. I rather say they are all lack of concept rather than vision as you've stated, but the silver lining is, they are mainly here just only for money instead of the continuity of their projects.

Regarding, funding, I believe that is not the case, if the project is worth enough attention, the community are batting an eye into it.

Most of the time the project doesn't have any key elements. Someone who has got technical knowledge will learn and try to make money out of the air. This is the reason why most of the projects fail.Apart, there are projects that fail out of lack of investment and promotion.

It is possible to list few projects that have got into the market and then failed due to lack of development. Further after years the same project is developed and are successful. So, it is all about the key elements and the team working on it with the growing technology.

Most alt-coin projects are scammed or devs that want to make a quick buck, which in my view is also a scam. Back in the day 2014/15 there was a coin launch every second day and sometimes ninja launches. It was fun and musical chairs but almost all price graphs look the same. People mine the new coin at launch and then the community shouts for an exchange and when it gets listed it pumps and then people dump and then greedy n00bs sit with bags and for months cry about it. Most price graphs look the same sharp rise then sharp decline and then gradual decline until it is dead. A lot of projects also fail because the dev teams do not address the fundamental issue of sustaining the demand for the coin/token they are launching and when demand drops the project dies.

This sort of sums it up. Post 2015 more established alts started to land like Ethereum, Polygon, Binance etc. So there are alt-coin projects that are valuable and where the dev teams are clued up and want to make a difference and those projects succeed. Sometimes it is extremely difficult to spot if a project will succeed or not.

This is pretty much it in the end.
There are also shit-businesses outside crypto and by the next week you look into their place, it's already closed down or placed as "For Lease" at the best. It's those buyers that keeps feeding this shit devs and makes them come back to even shit more in crypto space.

---

Still some other people are into shitcoins regardless claiming that they're earning "short-term profit".

New coins or projects failing is not new and it will continue but we need to understand the impact and figure out a way to avoid investing into such projects because there are projects which gets failed before getting into funding stage i have worked for one such project while I was managing the campaign and there are other projects which are designed to fail due to fraudulent mindset of developers who just want to scam investors and doesn't bother about the technology or project as they take bits and pieces from other projects to make their whitepaper and have some flashy website and those who are not well versed with crypto domain end up investing into it.

I think if a project has worthy technology then they will surely get invetsment as that won't be an issue but the team should be trustworthy and verified, projects don't fail they are intended to be failed if the team is not just behind money and obviously they get free advert through bounty through this forum as they will shill worthless token and abandon the projects.

But that will require developers to act in good faith, it will require that they are interested in actually developing something that works and that has a use case, but we know that most the time this is not why those developers are creating those coins, they are only interested in the money, this is why they put so much emphasis on the marketing of their coin and so little emphasis on actually creating something that works, which is why a great deal of the community doesn't really care about altcoins anymore and instead they just care about bitcoin.

As long as money talks, greed will always be around. And once the greed is high, expect that the project itself will always been a low valuable and will not meet the demand of its community. Though there are developers that are more focused on their goal, having less greed that motivates them, but some of them still failed. “There are lots of reasons that crypto projects fail, but at the end of the day I think one of the most important parts of a successful project is building a strong community,” Alan Chiu said, the chief executive of Boba network and Enya. Not because that their technology does not work, but because they haven't galvanised a community that cares about their mission. https://capital.com/cryptocurrencies-that-failed-and-why

I have worked with a lot of projects and I can tell you downright the first and foremost reason for failure is when a project brings something that obviously does not need nor will ever need blockchain out into the world, and then the project team expects investors to flood in by the millions for their hyped up, superficial bullcrap development.

Thats the sad truth and nobody ever wants to hear it. Especially if they spend months and months on developing it. CEOs want to get into the blockchain/crypto hype but have nothing of interest for people in the cryptosphere.

It is an open market where everyone can raise money to start a project and it is difficult to monitor what a project does after raising the money, majority of the projects does spend time in creating a good white paper to get the initial momentum but fail to convert that into useful product and that is a real concern we have seen throughout the years.

One thing that needs to change is, if anyone raise money they need to comply with the promise to the investors, if not they should be liable to return the funds and if that happens we might see a drastic change in scams and shitcoins.

The reason why there are so many projects that appeared in the last few weeks and months and still keep appearing is quite simple, 95% of them are all sh*it-coin or meme-coins if you want to call them that way. People are just trying to make some quick and easy money without putting any effort into a project that is the reason why they are the Dogecoin clone number 1123. To "launch" your own sh*it-coin you literally need only 1 hour or so. You take a generic website template fill it out with your stuff, then you create a BSC token and that is pretty much it.
Thank god the sh*it-coin hype is slowly dying at the moment and i am pretty sure that in a few months only a handful of them will still be around.

I think that the biggest flaw that a project can have is not only its devs but the fact that they do not put it on a level 1A exchange, if this does not happen, the community itself will probably punish the project by doing massive dumps, causing the price to drop. fall, and since most of the time these projects survive it is thanks to their community because they go down, this happened in 2017 in a privacy project that I followed and which I started in the crypto world, it is a pity that there is gone to the floor not only because of their devs but because they started treating investors badly and not having a level 1A exchange.

Exactly. Most developers are into making money, instead of believing in the technology. That's the reason why there are so many coins on the market right now. What we've seen lately is a new wave of tokens emerging from existing smart contract platforms aiming to take as much money from investors as possible. Blockchain networks built from scratch (eg: Bitcoin, Litecoin, etc.) are often a rarity these days. Not to mention, PoW-based cryptocurrencies are becoming scarce as developers shifted their focused to PoS due to "environmental concerns".

The vision of a decentralized blockchain network that provides real use cases to the world is slowly fading away to oblivion. If this keeps up, Bitcoin may end up being the only coin that will not end up corrupted by greed. In this world, money talks so expect to see more useless coins come up with the purpose of enriching developers themselves. Just my opinion

I totally agree with your opinion about many altcoins failing to market and developers failing to launch. they should not focus on the "money" they are getting now but they should focus on making the "money" in the longer future. and many altcoins fail because they do not have strong fundamentals so that altcoin development stops and fails.

The most reason why there are so many new coins or tokens is the desire to get money from their projects. They know how much they can earn by making a new project, selling the tokens, and also making people trust that their project is worthy and promising. At least, they need to sell their tokens as the soft cap, so they can continue their project. Additionally, money is very sweet. That is why many developers are only concerned with the money that they will earn. But they will forget and will not care about their projects once their token sale has ended. This really often happens in the crypto world. Moreover if they are scammers. Thye will probably create new projects again to get money again.

The next reason is that they are lack of the professional and experienced team members. Sometimes, experiences of team members are very important to exactly know and trust the project. They can see the track record of the team members, so they will believe or not the project. The experienced teams wil also know and udnerstand more about what they must do to make their project excatly succesful and continuing

We also need to recognize that the developers are asking for too much money they do not even need, satoshi created a bunch of new concepts and put them together to create bitcoin and he did so without any external investment, now those developers want millions and millions of dollars when their circumstances are nowhere near as adverse as they were for satoshi, so people are becoming skeptical about their endless calls for more money to be invested in their project.

They only have competence to grab money but not to develop a proper platform to be used by the investors or public.

Caused by the main purpose of them to create the new project to be money grabber aka scam project. they have no intention to develop the platform. they have not competence to do that.
This must not be the reason. Some kind of platforms can be created easily even without funding.
The purpose of this project is only being money grabber and grabbing some money from the market already enough for scammers.

Developers do not have long term plans for the project because the project had no utility to begin with.  A project has to start with a long term plan if you want it to succeed.  If you do not have one, chances are you will not find one mid-way either.

-
Regards,
PrivacyG

The major problem that I've seen in most abandoned projects is that the dev team themselves have no long-term plans for the project itself.
A lot have the intentions to create a cash cow and milk those naive investors. This is the truth for most of them.
So they will create a substandard project with generic roadmap and whitepaper and handled it anonymously.
Some are good in marketing their project even without any product to sell. Sadly, some users fall on this bait.
The funding is just a secondary reason that I've seen to be the reason of failure. But the top reason for me is dev team is just here for quick cash.

Most of the projects that are starting, they have the same problem in funding. And that's why they're doing crowdfunding because the picture is clear that they need more capital to continue their goal. But this is being abused by many developers that once they're funded from the investors, they're not going to fulfill what has been promised as they've made money from the investors. Well, there's no bind or contract and that's why they can easily get in and out from it.

Actually there are few coins in the market and so many tokens, creating your own coin requires a lot of work since you are going to develop your own network while creating tokens is very easy using the existing network. Many are just trying to scam people so they create tokens with a fake details and many fall for this, we should always do our own analysis before investing especially on every tokens.

Most coins coming in are nothing like Bitcoin the developers of this multitude of coins in the Crypto world doesn't have the passion or the knowledge put into Bitcoin, Bitcoin stands alone, most coin coming right now are either going into metaverse, memecoins and the rest, and in the past we have seen such from new project, they are all mostly there for investors money, although there are still some seriously good project out there. What mostly contribute to project fails is the commitments of the project organizer.

They are doing this to scam people, they see opportunity on this market since many are able to make money even if the project is failed, so some are trying to become more greedy and create their own project even if they have no plan to continue the business at all. We should be more careful on buying new tokens, not all are worth it to buy since most of them is just a fake one.

Based on the fact that the cryptocurrency market is currently not regulated, there are more fraudulent projects appearing here. Therefore, a lot of developers set themselves the goal of getting rich quickly at the expense of other investors, after which they abandon work on the project.

Quite honestly this is not a mystery at all, most developers fail simply because they do not have an idea that is worth coding at all, lets look at ethereum as an example, even if there are some people that criticize the project we cannot say that it was not innovative at its time and the same can be said about several other good projects, however most coins are just derivative projects, and if to this we add that their execution is awful then most coins never had any real chance to succeed at all.

To some extent, you are right that most of the developers just want to make money and want to do it quickly. However, there are other aspects as well. For example, why did cryptocurrencies appear at all and for what purpose, and if you start to investigate this issue, it turns out that all cryptocurrencies, including BTC, were created for the sole purpose of making money. However, not everyone is able to do this. As for BTC, everything is clear here, it is the most important cryptocurrency, and everything else is its derivatives, that is, “copies”, the purpose of which is to support BTC and, of course, give the opportunity to earn to their creators. This scheme includes petty scammers who simply use this opportunity for their own purposes, who very often fail to achieve their goal due to greed and lack of professionalism.

the cause of this happening is not much different from what happened to a failed business in the real world. the lack of attractiveness of the coin, lack of financial support, and developers who do not have long-term planning are the causes of many failed coins on the market.

What is this crypto philosophy that we should detach from? Am interested to know it. The 99% figure you put as the number of scam projects is an exaggeration of what is really the case. Though I know scam projects are increasing everyday but it is not that bad up to the percentage you mentioned. I see many new genuine projects get listed everyday too and by estimate I know they are more than the 1% you said.

Many new projects spring up every day and that is because there is a discovery of features that the older ones do not have that the new ones can provide or that they have a totally different line of technologies they bring in. If we do not have new discoveries, the crypto industry will die off as there will not be new innovations to draw more attention to it. Creating more coins is not bad a thing to do.

Most projects were launched based on premined which is not far different from the current fiat system and also they set the prices for presale based on nothing so why should an investor trust an anonymous person over government if it doesn't have any weight over the regulated bills.

The reason why most developers fail as a result of this IMO is;
-Though the idea behind a project may be good, most developers plan for when their coins to boom and not when their coin is booming, so they are unprepared for the growth, cannot accommodate the growth and hence them and the projects fail. To ensure that you build/develop a sustainable project, you must be able to predict and prepare for problems you will face when the project begins and when the project is running, also for when it starts to boom.

If you were to approach the project that you are planning into something that has value in the world and is going to help the masses, then it would be some kind of valuable project especially if it was to really ignite the passion of people. They fail to start a great project because it's probably going to be a selfish thing and approached it differently. I think having a long term vision for the project is important so that it's being applied with the right mindset.

I do hope there would be a good project that would be that "moonshot" that we all want.

I see the opposite. When you start a project, you search for a problem that the community needs and develop your project to solve that problem.

How to solve this problem and the efficiency in solving it is what makes the money flow to you.

What is currently happening is trying to make money follow the project and get it quickly, and from here the concept of cryptocurrencies disappears into speculative shares, and the main purpose of shares is always to make their owners rich.

In short, when you find a project that talks about clients, money, and profits without specifying the problem they would like to solve and future development, then know that they are scammers.

Almost all projects that failed did not have a vision. They just followed the hype and created a duplicate project, thinking to cash on the hype.

Eventually such projects end up being dead. Look at the meme hype, practically everyday a new meme coin is being launched to cash the meme hype but only a few were able to do so.

They are not developers but opportunist who think they will make it to the moon. Some of them were successful with it and most of them lost the race. The problem is with the community. Most of us here have invested in such project because they want to be at the moon in a short time.

That is not only all, some developers are not developers but scammers, there are many altcoins that have been a total scam before. There was a time a friend of mine told me to buy a presale some months ago in November last year, it was a BSC token. My friend bought the token and was sent to his address, but all that happened was that the project is a scam. We should be very careful of new projects. Altcoins is an easy means to create many fake projects to scam people which is what to avoid.

Some altcoins are not scam directly, the developers will pump it to attract investors, after the investors are attracted, the developers sell so the price of the coins will reduce to the extent many investors will lose. Altcoins have created ways for scammers to be happy by making sure investors lose for scammers to gain.

The main purpose for developers that are not ready to scam is also profit, for their project to be known to the world, making the price of their coin to rise significantly and they will gain very well. But what altcoins are creating for investors are making many investors to lose. Some projects are good but out of over $17000 cryptocurrencies existing, there are thousands of altcoins that are existing but making investors to lose, there are may altcoins that are still very risky and lead to loss of money in one way or the other.

Most of them failed because they don't have long term plan and cannot able to put up more money on their project for other developments that's why they failed, devs like this always want their pocket to be full and didn't care about their investors, this is why its good for new coins created to dump it immediately and don't follow other who hold for long term because they tell it will pump the same with bitcoin since for sure we will ending up a bag holder of their shitcoin and left behind by them.

You are contradicting yourself when you are saying that the devs only want money, and then present some other reasons why coins fail. Coins fail because they were never meant to succeed, the whole point of those projects is to collect money from investors, then quietly disappear.

There is a tiny minority of coins that are actually being developed honestly, and they do fail for other reasons, like the limitations of cryptocurrency technology, unrealistic goals, general lack of mass adoption of crypto, bad design and so on.

99% of coins are dishonest cashgrabs, but even if a coin is honest, it doesn't mean it's worth investing into, from a fundamental point of view. If your goal is to make money with trading, you should detach yourself from the crypto philosophy and just view coins as pump and dump schemes.

How can you say there is lack of funds in crypto?

Market is flooded with billions of dollars. Any shitcoin has billions marketcap.
ICO made billions of dollars as well.

I would say the opposite: there is too much money  and greed took over.

However,  there are amazing projects like ethereum,  Solana , some DEFI..

Shitcoins are called shitcoins for a reason. They are mostly unstable projects, with no utility and lack fundamentals to back them.
 You can't stop internet fraud or control what people do on the internet. Some of these projects are scams themselves, $SQUID coin is an example of a rug pull scam investors lost all their money.
 The people who buy shitcoins just want to make money. They don't buy because they believe in the technology. Well some just follow the crowd and buy what the media is selling. There are so many coins developed on a daily basis. DYOR

I believe developers saw the the vision of Bitcoin and try to explore from the vision  by introducing and making their own coin but they lost focus because they only have one goal in mind which is making money, forgetting the most vital ingredients in developing an asset. They forget that they are certain steps and strategies to undergo before accomplishing a good assets or goal.

Some of the reasons why I think some developers fail is because:

1. Lack of funding both the starting aspect and the launching aspect (lack of money to continue)
2. Failure in out righting frauds
3. Failure to evolve especially when the coin initially start bomming

Most developers have only one vision which is making money that is why many coins doesn't grow and they failed because they didn't see the vision ahead.