Altcoins Talks - Cryptocurrency Forum
Local => Philippines (Filipino) => Balita Cryptocurrency => Topic started by: jings009 on July 01, 2018, 03:35:49 PM
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While not all digital tokens and cryptographic forms of money end up as a successful project, recently released statistics indicate hard forked coins, ERC20 tokens, and other cryptocurrencies have either closed down their development, relinquished their efforts, or misled amateur investors.
“Dead Coins”
Data collated by two digital currency tracking websites suggest over 1,000 digital currencies are “dead projects,” implying no scope of future development of their protocol with their prices decided only by market speculation. Dead Coins and Coinopsy, which conducted the research, grouped the projects under distinct reasons – ranging from coordinated pump and dump, investor fraud, faulty wallets, lack of funds, and in one case, developer death.
As stated, the “dead projects” have cumulatively raised over billions of dollars worth of BTC and ETH.
While worldwide law requirement may have examined several token issuers to decide their authenticity, novice investors were generally absent-minded to essential research before making millions of dollars in investments. Humorously, the names of a few coin projects are enough to indicate a potential mishap – such as OreoCoin, Snowballs, and CryptoMeth
Aaron Brown, a business markets author for Bloomberg, stated:
More here: https://btcmanager.com/over-1000-cryptocurrencies-and-bitcoin-forks-are-dead-projects-concludes-research/