Topic: Why most of ALTCOINS are dead or worthless? - page 4. (Read 2190 times)
The reason is that everyone can create so many tokens, and it's very easy to make smart contracts so that's why everyone in the world, creates tokens for the sole purpose of finding investors and making profit, no matter if it sells in the market or not, at least they have trying to run it, but with this convenience it is often misused by irresponsible people such as fraudulent projects, and in the end many altcoins just die or are abandoned by their owners, we can see lately that many projects have not continued the concept even though it's been arranged so neatly, but the market decides it all..
In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
They may not be dead, really when Bitcoin was created it wasn't as widely traded as it is now, I wasn't confident enough either
and waited long enough to mine a large % of coins before openly releasing them to the world, may be the case with many Alt-Old-deadcoins
Basically no one trusts a new currency nowadays, but they can trust one that has been around for years (even if it is not commercialized)
People today only look at what price it reached or at what price it can reach, that's it, in the future this will be even more shameless.
We are overconfident in Bitcoin, and it is just because of the price.
The world is not written man!, the changes are sudden!
Imagine that in the future it is more "ecologically viable" to resurrect an old currency and not create it.
Imagine campaigns that try to "resurrect" certain ancient currencies.
There are projects TODAY that are accumulating "dead" coins in exchange for money, who tells you that this project
do not see viable Revive a deadcoin if you see that it has 30% of the total supply?
Not everything is said!
(at least me) if i was a super dark businessman, i would mine a dead coin getting a lot of accumulation while others have no idea,
I would improve the code but I would not implement it, and when nobody expects it, I would appear there, with any excuse, with bags full of hope.
It's good to see altcoins dead because we have too many and many of them are crap projects or pump and dump, the best thing I hopes for right now is bad altcoins to die off this haven but won't happen in an instant, investors are the one to watch out for these scam projects
Such schemes would have died out long ago if we, ordinary people, had not participated in them.
The same thing would happen with all useless coins whose volumes are infinitely accrued by an army of bots on various exchanges of varying degrees of quality.
But it is investors who give life to any such project, and it is they who can take this life.
Why most of ALTCOINS are dead or worthless?
In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
Tokens issued on asset platforms as Ethereum are not really altcoins, they are tokens. They are worthless because they have no meaning. They have no use case. They never had and meaning and use case. They should never be crated. Well they could be created, but they should never been traded for any serious value.
that is okay . creating a coin can be a busines too but they should be fair or shouldnt have scammed others .
they already created a coin and after getting the payment they will leave the project ? that isnt right . since they already have the funds why will they stop or got tired ? no altcoin can be dead or worthless if no lazy people or people that has a bad intention wil do it but what can we do ? the sad truth is that they are already exist . only we can do is avoid them
The major reason why we have an influx of worthless coin in the cryptocurrency space is because of the ease in creating smart contracts. We all know that smart contracts can be created with little or no technical knowledge, couple with the fact that one only have to pay very little amount for gas. This has given everyone the opportunity to explore and unscrupulous individuals are using the opportunity to take advantage of the investing public, flying several ICO projects to deceive the public.
That is without a doubt a factor but if those creating those coins actually tried to create something innovative then we could have the market moving forward but that is not what they want, they just want to get some easy money out of investors by creating those coins, but fortunately things are changing in this market and no one is investing in those coins since they have realized the intentions of those developers and now most people finally understand that bitcoin and just a few other altcoins have any chance of being used in the future by a significant number of people.that is okay . creating a coin can be a busines too but they should be fair or shouldnt have scammed others .
they already created a coin and after getting the payment they will leave the project ? that isnt right . since they already have the funds why will they stop or got tired ? no altcoin can be dead or worthless if no lazy people or people that has a bad intention wil do it but what can we do ? the sad truth is that they are already exist . only we can do is avoid them
The major reason why we have an influx of worthless coin in the cryptocurrency space is because of the ease in creating smart contracts. We all know that smart contracts can be created with little or no technical knowledge, couple with the fact that one only have to pay very little amount for gas. This has given everyone the opportunity to explore and unscrupulous individuals are using the opportunity to take advantage of the investing public, flying several ICO projects to deceive the public.
That is without a doubt a factor but if those creating those coins actually tried to create something innovative then we could have the market moving forward but that is not what they want, they just want to get some easy money out of investors by creating those coins, but fortunately things are changing in this market and no one is investing in those coins since they have realized the intentions of those developers and now most people finally understand that bitcoin and just a few other altcoins have any chance of being used in the future by a significant number of people.
The major reason why we have an influx of worthless coin in the cryptocurrency space is because of the ease in creating smart contracts. We all know that smart contracts can be created with little or no technical knowledge, couple with the fact that one only have to pay very little amount for gas. This has given everyone the opportunity to explore and unscrupulous individuals are using the opportunity to take advantage of the investing public, flying several ICO projects to deceive the public.
That is without a doubt a factor but if those creating those coins actually tried to create something innovative then we could have the market moving forward but that is not what they want, they just want to get some easy money out of investors by creating those coins, but fortunately things are changing in this market and no one is investing in those coins since they have realized the intentions of those developers and now most people finally understand that bitcoin and just a few other altcoins have any chance of being used in the future by a significant number of people. 
I think the reason why there are lots of dead or worthless Altcoins in the market is that because people are continuously creating invaluable cryptocurrency coins that do not really have a potential because they are just created from a senseless idea. Meaning, there is no such unique feature in them. What makes the difference is that the name they have but the same idea is being shared. People are not already interested into same structured coins because there are already existing ones. Other Altcoins are being created just to scam people and those are the coins that do not really have a marker value. It is just sad to be true that the market is composed of mostly worthless and useless Altcoins and just crowding the market which makes it more difficult to find those good Altcoins. I think, if we will tend to clean up the market, only few coins will remain. It is good if that so will happen because it is better to have few coins that are all valuable than having lots of coins but only few have a distinct value and usage in the market.
Most Projects Developers by that time were hype up by the surged made in 2017 by the market, unexpectedly the crypto market made a historic run making a lot of sham project developers to salivate and wanted to make their own and run away with millions. I think Ethereum has nothing to do about scamming and being the main blockchain being used by projects devs, it is the projects devs who have the desire to scam people and some projects that incompletely compete and not be able to to survive.
I guess people were half expecting there would be valuable 2000+ coins and tokens around in the market but they were pretty wrong about all of that. I mean we have some good ones, I still think the top 50 list is not a bad one, we can remove some shitty centralized ones like xpr, bch, bsv and others from the top 50 and add some others into the list and have 50 coins that are quite good.
However when it comes down to "most" coins, they are made just to be made, it is SO easy to make a coin that you can literally create one in 24 hours even if you have zero developing skills, there are ready made ones where you fill out like logos and texts and stuff and you get to actually have your own coin.
Rest is simply just marketing, if you spend 10k on a website+socialmedia+bounty+campaign type of stuff, you will end up with 100k+ in return of that and you can basically not do anything, just give away ALL the coins to people and let them deal with it.
However when it comes down to "most" coins, they are made just to be made, it is SO easy to make a coin that you can literally create one in 24 hours even if you have zero developing skills, there are ready made ones where you fill out like logos and texts and stuff and you get to actually have your own coin.
Rest is simply just marketing, if you spend 10k on a website+socialmedia+bounty+campaign type of stuff, you will end up with 100k+ in return of that and you can basically not do anything, just give away ALL the coins to people and let them deal with it.
Because majority of them was dead on delivery. No real volume, worth or usecases
In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
In my opinion, the number of tokens that die is not the ethereum network error. Ethereum only provides a blockchain and everyone can use it to make tokens for business or other purposes. It all depends on the developer team in producing the product, if the developer team is able to produce a good product, I think investors will actively trade it
There should a sanction on the ethereum blockchain where projects are giving mandates or rules before contracts are created. Infact, the crypto world should have serious regulations to cut down on the number of scam and shit projects in the market. Making it easy for smart contracts to be created is the main reason why we have so many dead projects, most even dead at arrival.
Lack of good use case can easily kill a new coin, some developers are so stupid to waste time on projects that the world doesn't need at all on the blockchain and others have bad intent like scamming investors and running away with the money
this is the main problem that I have been talking about for years. I realized this early on when I saw these ICOs. Most of the time people hear: "project X that will revolutionize the travel market with the use of blockchain" and people were happy with it, but they did not ask themselves when these project creators were working with the airlines, no if they asked if the creators of the project had a physical office, they did not ask if the creators of the project had already dealt with legal issues with governments, people just deluded themselves and in the end when altcoin was launched on exchanges the creators of the project no longer they were more active here on the forum and in the social networks they just kept making trips and lying that they were looking for partnerships.
Because most of them are just Copy paste and only created to mislead people and take their money that is why it did not took years and those currencies are dead already.and also scammers in crypto will never stop so expect much more of these altcoins to come and be ready and smart as well because if you did not reserve yourself from this?for sure you will be one of the crying victim of these scammers .
It's good to see altcoins dead because we have too many and many of them are crap projects or pump and dump, the best thing I hopes for right now is bad altcoins to die off this haven but won't happen in an instant, investors are the one to watch out for these scam projects
Like this there are many projects failed to develop what they mentioned because due to the crises of the market situation, whatever the coins they raised through IEO, crowdsales lose value. This makes many companies failed to develop the products whatever they mentioned.
Yes, like in 2018 when the crypto market is low, many projects have failed even though they have reached IEO because the value is so little that it is not enough to build a project, so many failures in a market like this.
If the market continues like this then I'm sure many projects will fail because of the low value.
In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
Well, truth be told scam projects keeps making the altcoin market look as if it is not worth getting closer to, also not only scam projects that is, those that exited scam but other projects which are of no value, for pump and dump etc, although one can also liken them to scam. But, however, even at this ugly situation, when looking at the likes of ETH, XLM etc one can say in affirmative that not all altcoins are bad there are few out there still contributing to the growth of this space. Also, scam projects can be launched on any blockchain, that Ethereum was mostly used doesn't mean it is at fault, at least there are other scam projects which were launched on XLM blockchain.
The major reason why we have an influx of worthless coin in the cryptocurrency space is because of the ease in creating smart contracts. We all know that smart contracts can be created with little or no technical knowledge, couple with the fact that one only have to pay very little amount for gas. This has given everyone the opportunity to explore and unscrupulous individuals are using the opportunity to take advantage of the investing public, flying several ICO projects to deceive the public.
Jump to: