Too many altcoins!

[owlest]

Of course now there are more and more altcoins circulating and making many investment choices for traders and investors themselves but one must always be careful in choosing

I agree, because such a large number of projects generates a thirst for profit on investors. In any case, out of a dozen new projects, 2 or 3 will be initially created for fraudulent activities. I think you need to rely more on quality here.

[LaZim]

Of course now there are more and more altcoins circulating and making many investment choices for traders and investors themselves but one must always be careful in choosing

I agree, because such a large number of projects generates a thirst for profit on investors. In any case, out of a dozen new projects, 2 or 3 will be initially created for fraudulent activities. I think you need to rely more on quality here.

Now investors do not want to invest in unfamiliar projects as it was before. Previously, scammers created a beautiful website, printed 50 pages of white paper and people invested millions in the idea. Now they don't even bring money to projects with technology. Preferring sites like coinlist DAO and others.

[VeryWellDone]

Exactly, it's really hard to choose where to put your money at. But for me, I kinda diversify it into 4, 1) Solid projects like ADA, SOL, and MATIC 2) Metaverses like SAND, MANA and GALA 3) Layer 1 and 2 like AR, LRC. IMX and NFT play to earn games like AnRKey X, Gold fever. I also gamble into some newer projects that has good fundamentals and hype, just like Oasis(ROSE) who got partnered with Facebook(meta)

[Ghozrd]

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?

Altcoins are required for payment transaction options, I will give you an example, can usd currency be used for payments in other countries, I think not because they need to convert them to fiat from each country.

Are the founders of every altcoins creating their token for money?

The main goal of developers starting a business is to make money. yes that's true, but project developers will provide good products with the ideas they have, we know Ethereum, then Binance and many others, this platform has products that can be used to make it easier for everyone to start their business

[LaZim]

Exactly, it's really hard to choose where to put your money at. But for me, I kinda diversify it into 4, 1) Solid projects like ADA, SOL, and MATIC 2) Metaverses like SAND, MANA and GALA 3) Layer 1 and 2 like AR, LRC. IMX and NFT play to earn games like AnRKey X, Gold fever. I also gamble into some newer projects that has good fundamentals and hype, just like Oasis(ROSE) who got partnered with Facebook(meta)

As you find these projects in a pile of various garbage. From what you have written, I am only familiar with top coins. I think investing in the rest is the most risky.

[jhm]

Too many altcoins yes, but so little quality. Most go to zero, only a handful truly useful. Example: Monero

[pieppiep]

I think if there are too many altcoins that are created then it doesn't matter and it can be a good potential to double our assets in altcoins, altcoins have price movements depending on the demand, when altcoins have products that are useful to many people then it can make the price very expensive .

[Jaephoenix]

You know crypto is more and less unregulated, and it's an all comers affair. People pile in to create their own project and some even replicate the same exact features on a pre existing project. Its the reality. The bright side, is they would all eventually die off leaving the useful ones

[Cadaver20]

More altcoins have been created during this bullrun. I think its sole purpose is to make money.  We have to be careful with new projects. You must do research before investing. These new coins show hype at first but later crash.

[trofim21]

today there are a lot of alternative coins, but this is not the limit, I think, if you compare a few years ago, the coins were not promising, today many projects are significant

[owlest]

Now investors do not want to invest in unfamiliar projects as it was before. Previously, scammers created a beautiful website, printed 50 pages of white paper and people invested millions in the idea. Now they don't even bring money to projects with technology. Preferring sites like coinlist DAO and others.

Yes, I totally agree. After all, now investors have become smarter, and resources have appeared that give confidence that the project will not turn out to be fraudulent. I have always said that this area is developing and will continue to be even better and more interesting.

[legend45]

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?

Yeah, too many altcoins now.
I think There are several potential project and also many scams projects. We must be careful.
We should learn project, team and their crypto.

[robelneo]

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 and no, yes they want to make money because creating their own coin/token for their project is easy and it's open-sourced they want exclusivity for their own project they keep the profit instead of using Bitcoin, and no because they see the problems of Bitcoin and they offer their own coin as upgraded version, that is why we see a lot of fork of Bitcoin.

[mahadev]

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 and no, yes they want to make money because creating their own coin/token for their project is easy and it's open-sourced they want exclusivity for their own project they keep the profit instead of using Bitcoin, and no because they see the problems of Bitcoin and they offer their own coin as upgraded version, that is why we see a lot of fork of Bitcoin.

Yeah I think new coins have good technology, offer upgraded of their technology. Bitcoin didn't updated.
In my opinion,new coins also good  for investors have many choices.

[Alichlas92]

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.

I am interested in your writing, then you write a reference from your writing?