Why are there so many coins?

[Domithra]

Well, the reason is very fundamental and it all stem from the fact that human needs and problems are insatiable. Every project that enters the crypto market is a solution to a problem or gap in our society. Developers create new coins to back these solutions in order to create more value for the crypto market.

[ayatoslaw]

as said by Vitalik Buterin, over time the community will realize and begin to understand which projects are good and not, and that is where finally, that the project does not appear, but the existing projects are now focused and developed according to their respective functions.

[asrafkhairulazzam]

many companies want to take advantage of making ico
I heard that Ico profits were so large that the companies wanted to make ico with good ideas so investors would come to invest their money

[Ghozrd]

as said by Vitalik Buterin, over time the community will realize and begin to understand which projects are good and not, and that is where finally, that the project does not appear, but the existing projects are now focused and developed according to their respective functions.

You're right, so many new projects with the same idea, just read this article https://icorating.com/news/2018-7-over-1000-ico-projects-have-already-died-techcrunch-report/,if we look at the current situation, the surviving coin is a coin from a long-standing project.

[waybesuricata]

Yes too many projects have too much token and coin. Some of these projects can    effective. However, there are many scam projects.

[Zoe]

a lot of new coins appeared due to many new ico that appeared. therefore, we must be able to choose good ico to get good coins. it will provide huge profits for bounty hunters and investors.

[Bit]

Many developers always create new ICOs although the market is in decline cycle. It is not difficult to provide an ICO, it triggers developers to present more ICOs. And the ICOs provide new coins, so we will have many coins when ICOs are created day to day.

[Nestle]

Does it have any effect with the number of new coins created against old coins? I think old coins if you don't have good technology will lose interest. Many coins will die every year.

[kemalramdanu]

"I get a lot of personal messages asking how much Ethereum (the type of virtual currency) I have. One of the cool things about Ethereum is that all wallets around the world are transparent and open to everyone to see. And this (US $ 283 million) is saving my wallet,

[purpleseven]

It seems like it's a good thing if the number of coins is new and has better quality than existing coins. Investors will buy more quality coins and can choose several new coins according to their needs.

[moonking]

Well, the reason is very fundamental and it all stem from the fact that human needs and problems are insatiable. Every project that enters the crypto market is a solution to a problem or gap in our society. Developers create new coins to back these solutions in order to create more value for the crypto market.

I think human greed is also a big part of it.  Many coins don't really solve a problem, but are looking to capitalize on the crypto craze.  However, community quickly accepts/ rejects and validates new projects, and gems come out of the pile.

[CryptoSparks]

many companies want to take advantage of making ico
I heard that Ico profits were so large that the companies wanted to make ico with good ideas so investors would come to invest their money

Sadly this is true. I see a lot of ICO whose products don't really need a Blockchain. But hey, put "Blockchain" in it and rise millions.
Unlucky for them this doesn't work on a bear market.

Besides this, blockchain has so many applications and can be useful in many sectors, we're still at the beginning of the blockchain era, we will see many more coins in the future!

[simar1120]

Each undertaking that enters the crypto advertise is an answer for an issue or hole in our general public. Designers make new coins to back these arrangements keeping in mind the end goal to make more an incentive for the crypto advertise.

[sugarchrisp]

This is a new space, people are trying anything and everything in order to get in at the ground floor of development.  There are limitless applications for blockchain technology as well, so it's very likely that this is still only the beginning of how many coins we'll have. 

[kenning]

We can categories them into two groups, you might be thinking i might be saying utility and security token but no is good and bad token. Good tokens like zilliqa which will really help crypto especially ethereum in the long run. Bad coins are most of the scams coins you encounter however i will not label them out. Most of the coins flow into crypto market is to earn money maybe only a very small percentage is really want to help the growth to crypto in the long term.