Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: owmivmen on September 16, 2018, 03:08:00 AM
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A large decline occurred this year but many new coins and tokens were listed on the exchange and coinmarketcap. What caused many who were interested in creating new coins and tokens? isn't competing really difficult?
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Yes, so many coins were created this year and there are also many coins that failed. And get delisted from the exchange. The market is having difficulty as of the moment. I would say, be careful in choosing coins to invest.
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I also don't understand about what the developers think to create new coins in this negative market trend. It endangers the tokens, they may unable to survive with the current market condition. However, basically the developers continue to create new coins because of they know the potential to get profits with it.
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What caused many who were interested in creating new coins and tokens? isn't competing really difficult?
What's make they interested?
Initial Coin Offering (ICO) this is an method of raising funds, or many people usualy call it crownfunding, which the developers will get big funds to make their project running and their coin will be listed at the exchange, but many developers do not use the funds honestly, that like only listing that coin at the cheap exchange like forkdelta, etherdelta and etc, so this will be make the investors feel scared hold that coin and they sell coin make that coin fall so far.
and I also see many developers stole the investment and leave their project (scams project).
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Yes, but most them were scam, unsuccessful because of poor management. I additionally don't comprehend about what the designers think to make new coins in this negative market slant. It jeopardizes the tokens, they may unfit to get by with the present economic situation. Fundamentally the designers keep on creating new coins as a result of they know the possibility to get benefits with it.
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There's lots of FUD in the crypto world, largely perpetuated by mass media and their lies about crypto being a scam and other things like that. People get afraid, they sell when the price drops and wash their hands of it. At the same time, whales are manipulating the price in order to play off of people's fear and panic and causes the price to drop even further, causing more people to bleed out. They then buy it back, and people jump on the bandwagon again and restart the process. The problem is most people just see this as a get rich quick thing and not as an actual long term investment, and therein lies the problem. This isn't something that is going to just suddenly make anyone massively wealthy, and it comes from a complete lack of understanding of crypto from people in general.
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Despite the dynamics in the market of crypto-currencies, it can be noted that some projects that appeared this year could take their place in the market and keep the token's price from falling quite well (example - LocalCoinSwap project). Although many projects are launched with only one goal - to raise funds from investors and stop further development.
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Now is not the time to invest in new ICO projects. Now there are a lot of benches. Buy top tokens)
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Maybe they provoked many people who were desperate and panicked about the decline of their old coins on the market. So with that good opportunity the admin created coins and new tokens to lure them so they started investing in it and making other surprises.