Too many altcoins!

[Afony]

There are now a very large number of projects from which you can choose to invest, you need to study the project well in which you want to invest in order not to fall on the scam project.

[smart_oa]

There are too many altcoins that don't mean you have to invest in everything. If you think bitcoin is enough then stick with it only. Also, there are too many altcoins that don't mean they are all useless. Most of them have proper use-case.

Startup project launches their toke because to build a new project team needs to be funded and it is very hard to get a partnership with a big company. So it's a good way of raising funds by conducting a toke sale. It's like an IPO in the share market.

[elbans89]

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  also will have good impact for crypto market, If the project is good.
But If only scam projects , I think It will have bad effect for crypto market.

[Freemind]

I think too many altcoins  also will have good impact for crypto market, If the project is good.
But If only scam projects , I think It will have bad effect for crypto market.

That there are many altcoins is not a problem, the problem is scams and worthless projects. The appearance of so many memecoins means that a lot of money in investments does not reach projects that are really worth it. Of course, everyone does what they want with their money and is free to invest in any project, but sometimes I see that projects that are really good hardly receive investment and instead any memecoin receives millions in a very short time.

[doc]

I think too many altcoins  also will have good impact for crypto market, If the project is good.
But If only scam projects , I think It will have bad effect for crypto market.

That there are many altcoins is not a problem, the problem is scams and worthless projects. The appearance of so many memecoins means that a lot of money in investments does not reach projects that are really worth it. Of course, everyone does what they want with their money and is free to invest in any project, but sometimes I see that projects that are really good hardly receive investment and instead any memecoin receives millions in a very short time.

I agree with your opinion about this , That there are many altcoins is not a problem, the problem is scams and worthless projects.
sure, There are many scams projects  and worthless projects.
We must be careful to invest in altcoin.
Do Research before you invest in altcoin or you will lose your money.
Too many altcoins are many chances to gain profit but choose the potential of them.

[bic0]

Only few are quality enough to invest. For example I've been following Faith Tribe because of their innovative mission and I believe that's what does potency mean.

[Banko]

I'm just looking for IDO's and I believe that's more profitable strategy. One tip : Swing has upcoming IDO period that could be very profitable.

[Tokenista - Rev. Sasha Van Kush]

This thread puts some perspective on everything. We are taking over MetaVerse and this thread gets into the History of Blockchain to now.
https://www.altcoinstalks.com/index.php?topic=260591.0

[innerpumper]

Not all cryptocurrencies work well sometimes of them make just for fraudulent investments.
Of the hundreds of thousands of cryptocurrencies that exist in the world, maybe only a hundred cryptocurrencies are really useful in their respective industries.
Apart from this there are usually bad guys who want to plagiarize the actual project and want to take advantage with it.
then they do a public sale and run off with a lot of money.

[gunhell16]

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 this is because there a lot of money they can get from it, just simple as that. And cryptocurrency became trending now for a couple of years now, and till now a lot of the community and investors are continue getting from it to have, just always be sure about the coins your going to buy so that in the end your not gonna regret it to make your assets will be gone.

[damsix]

The more altcoins, the better the cryptocurrency market, but the good value is not accompanied by the expertise or progress of the newly created altcoins so that these altcoins are unable to compete with other coins and eventually fall.
I can't say all altcoins are not good but in fact many altcoins are able to continue to be the best in the cryptocurrency circle and it is proven that the top 2 to 500 rankings on Coinmarketcap are good altcoins.

[rizqillah]

The more altcoins, the better the cryptocurrency market, but the good value is not accompanied by the expertise or progress of the newly created altcoins so that these altcoins are unable to compete with other coins and eventually fall.
I can't say all altcoins are not good but in fact many altcoins are able to continue to be the best in the cryptocurrency circle and it is proven that the top 2 to 500 rankings on Coinmarketcap are good altcoins.

That's true, Not all altcoins will good but the potential altcoin will continue and survive.
I also agree more altcoins is better for crypto currency market.
We will have many chances to invest.
I see the popularity of altcoin will grow day by day, It's good for crypto world and many investors started to invest in crypto more.
It's a good thing.

[Freemind]

I would dare to say that 95% of the altcoins that appear are only to create punctual pumps and that is why they end up disappearing in a few weeks or months, that's why most of the coins/tokens that appear are memes. The other projects are those that can have a certain future if they are well planned and executed by the teams as long as they contribute something new to the community or they will also die in oblivion. For these reasons lately there are not many good projects to study.

[Kaplusha0]

Cryptocurrency is now more than just facilitating payments, much more, cryptocurrency is being introduced into different areas of business.  It's big money and that big money needs to be protected.
Crypto users often suffer losses from various threats, such as smart contract hacks, stablecoin de-pegs, market volatility, etc. In 2021 alone, $3B were lost to smart contract hacks.
Amulet Protocol solves these problems. Amulet Protocol is a decentralized risk protection protocol built for the Rust-based ecosystem, starting with the Solana blockchain.
And later they will have their own altcoin too. So not all founders create their altcoins for the money, but for the whole ecosystem to function properly.

[gurunanakji777]

Obviously yes, every altcoin dev wants that their altcoin use for payments so generally we see daily new coin launching but the sad part is the majority of the coins diminish as well quickly. Like technology changes in mobile from 2G to 3G or 3G to 4G or 4G to 5G like this new projects keep coming up with new concepts and there is always room for improvement so we can not rely on Bitcoin and Ethereum for the growth of crypto market we need new projects also.