Too many altcoins!

[zendicator]

Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?

[MUGNIA]

their main goal is to make money,
right you say why they are competing to make altcoins and finally return to bitcoin for payments from the products they make, why they don't collaborate / or update existing projects

[sirty143]

Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?

Yes, it's about money. Founders don't have funds, so they raised capital through ICO crowdsale to kick start their projects. Talking of Bitcoin, the first and most important cryptocurrency, actually Satoshi Nakamoto never intended to create a currency. It was purely accidental, what he wanted to build is a decentralized digital cash system without a central authority which he succeeded.

[ZionRTZ]

We can say it's for money, I think that's an obvious answer. We also have to remember that one reason these altcoins came out is because of the speed and scalability issue of bitcoin. Seriously, do you really think people will use bitcoin who takes minutes or hours when the network is highly congested just to pay a $10 item (or less)? 

[Quart]

Everybody knows that so far, numerous altcoins are coming with similar and different ideas, platform, products, application, in many more sectors. Crypto is not kind of antimainstream again. Many more companies create new altcoins in roder to attract many more investors. That is why we must be careful when we want to choose promising altcoins.

[moonuranus]

You are actually right about the money, everything in this world of crypto is about money, but not all of them have the same technology, they provide different purpose other than ease of payment. There are too many altcoins because they are competing for better techs, but beware most of them are scams.

[corr]

Remember the first mobile phone? It seems to have been a Motorola company. So this phone was big and heavy but it was a new technology. After that, other big companies started to produce mobile phones, improving them. Phones were getting better.The main goal, of course, is to make more money and say that their product is the best. This is the situation in the cryptocurrency market. New coins are constantly coming out. New coins are even better than BTC in terms of transfer rate, the number of transfers per second, better because their transfer fee is much lower. But so far BTC is currency number 1. But for how long?

[juv3ntus1]

A lot of this alts are scam the team create only to grab the money and they disappear,they don't  have any intention to build something .

[arnishad]

I recommendation you initially to go to Coinmarketcap (CMC) and take a glance on the worth trend of alts out there (you may look on btc too) and analyze whether or not is it particular or unhealthy plan to speculate into it. whether or not it's a affirmative or a No, there's nothing wrong with it as a result of it's your own call and you're the one largely is aware of what's smart for you emoticon. once your final judgment is to pursue commerce then I recommendation you to travel here, Google is gift as perpetually you'll be able to use it too. Also, avoid crypto connected teams on FB the maximum amount as potential as a result of you can't realize something there however posts of referrals Grin. Good luck.

[trauchot]

You think quite rightly, while it is so easy and simple to create various tokens, there will always be various people who will do this in order to ensure themselves for life.

[Somyt]

if I think of a new project to make altcoins for them, the main goal is to develop crypto currencies and to get good profits, because every altcoin is the main goal also to benefit from anything in terms of trade, because there are now many altcoins being created This year. seeing the development of krypto prices is also growing well

[HomelandPatriot]

Nobody force you to buy them. It's your choice that and when to buy, way more altocoins - way more opportunities to make money

[Seeyy]

actually, too many altcoins aren't too good for us in investing. Prices offered are often not in line with market turmoil. often the price of altcoins seems to be competing when just entering the market. after running for some time, the new altcoin price will decline  periodically. no less important is that we are often confused by unclear rules.

[Doctor]

Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?

I think too many  altcoins  is good for investment.. It is competition.  We will have many chances  to invest.  But We must be carreful  to choose  good coin for investment.  Learn the market and always use smart strategy

[Pegasus]

Do you ever think that why are there so many currencies: USD, GBP or CNY...? The same question can pose here: are they needed if they're all about making payment? Besides making ease of payment, each altcoin serves a specific purpose: platform (ETH, ADA, NEO), cross chain (Wan, Atom) or something. That explains the diversification of altcoins. Many of them are trash, but many of them are born for some purposes.