2000 Cryptos In The Crypt
On the site Deadcoins we see today 911 extinct coins which aren’t working anymore, wasn’t working ever really, resulted scam, theft, fraudulent ICO.
On the other site, Coinranking, the surprising amount of 3,971 coins can be found, in 80 pages, 50 in each page. But approximately from the middle of the page 37 all are worth zero. So, I suppose more than the half of the full list is also extinct, it means, about 2100-2200 coins.
Alive, but insignificant
On the very commonly used site Coinmarketcap.com we find 1977 coins and tokens today. From this list, 891 are coins, and 1086 tokens. But only 1373 do have a market capitalization bigger than 100,000 USD. And that doesn’t mean this coin is really 100,000 USD worth; by such a low capitalization (low liquidity) seller’s overweight, selling pressure could push prices easily down.
(If we distinguish coins and tokens, Steem is on place 32, SBD on place 98. Much better than on the full list, with number 38 and 242.)
Small isn’t beautiful
Do we need 891 coins? Surely, not. What are teaching us this “dead coin cemeteries”? I think, a lot.
Maybe small investors should avoid small, intransparent, unknown cryprocurrencies, tokens, which can loose support and die for forever easily. Smaller cryptos don’t have so much developer support, free cash to advance, enough community activity, popularity to survive the “crypto-crisis” we are experiencing today. Maybe big ones get even bigger, small ones even smaller.
The last page on Coinranking
There was incriminations even Bitcoin price could be manipulated. (Teher-story.) Small capitalization is even more dangerous, can be much-much more easily manipulated.
Killing the middlemen
Crypto-companies, ICO-organizers want to revolute industries eliminating the “middlemen”, offering cheap services, with small margins on the markets. But if the margin is narrow, you need a lot of consumers and a lot of transactions to survive or make a really successful business. In some industries you see a dozen or more ICO-s, all ‘d like to make the next Amazon or Facebook. But I suppose, only a couple of them will.
I wrote earlier here that on the list of Coinmarketcap of Autumn of 2013, eight of the top ten coins are practically unknown today. They sunk in the rift of crypto-oblivion, they are somewhere on places between 150 and 1300. Ever heard of Peercoin, Namecoin, Feathercoin, Worldcoin? Times are changing, very fast.
Conclusion
The changes are too quick on this market, don’t put all your money in one and only crypto, and don’t put it all in cryptocurrencies either. If you wish to participate in an ICO, make your research, investigate very extensively. Don’t read only the infos of the issuer, read critics, look for the sceptics, the nay-sayers.
Disclaimer:
I am not a financial advisor and this content in this article is not a financial or investment advice. It is for informative purposes only, or simply to make you think, entertain, increase testosterone and adrenaline level. Consult your advisers before making any decision.
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The crypto hype was overwhelming last year. We speak of absurdly high trading volumes, coins that rose by 800% in value and product manufacturers who were no longer able to meet the enormous demand. At the same time, a dangerous gold rush sentiment penetrated the market. Millions of ignorant investors suddenly craved their own piece of the pie. Many invested with totally unrealistic expectations in dubious and often fraudulent 'cryptocoins'. There was often no question of interesting projects. Marketers with a very shrewd business instinct were just responding to our capitalist minds.
The fierce price corrections of the past few months creates an externally boring phase in the crypto market, which is however extremely important for the continued prosperity of this still young market. Trading platforms can now finally expand their infrastructure, adapt their security architecture and focus on the future. The countless ICOs that have raised money in the past year can and must ultimately achieve visible results from the capital entrusted to them.
At the same time, with these many price corrections and the falling euphoria, the market is really starting to act up. Coins that only sell air and have no other technological substance than marketing are eliminated from the market at this stage. the site deadcoins that you gave as an example is proof of this.
totally agreed. we should see lesser ICO from next yr onward, either its much more difficult to successfully create a coin or even grander plan of deception.
nice post
nice comment
agreed. Also: what is the incentive for participating in such coins. With staking, mining or inflation-based coins, there is opportunity for investors to secure the network, follow its projects, community and get something back. This boosts adoption and stops over-trading. They just have to bring something to the table, some feature, that is not hot air or outright scam.
Not all coin created equal, not all coin created functional. The hype of 2017-2018 mostly created are not intended as its should be. people start to wake up as soon they realize its all nothing but scam. resulting major withdrawal of the market.
I respect your time and energy that u spent looking at other coins , however I have never looked at these coins only top 20 coins
This is a very informative and educate post about Crypto @deathcross
I've learnt a lot though... It's true the biggest coin keep rising and the smaller ones keep deprecating... This can be a very annoying though but theres nothing we can do about that...
Just as tiu have said....
Invest in not just one coin but in different ones, yet not all coinsI totally agree with this, proper researches should be made before opting into anything at all.... The issuer may not even give the right information or give as much information as needed...Very nice article... Thumbs up.
Besides have you heard about Digitex futures exchange?
Digitex has finally minted it's own native Crypto token;
The DGTX tokenNo fees attached, very fast and reliable, easy to make profit...
My post will give you all the necessary info you need;
https://steemit.com/digitex/@morahn/gfmobba-obtain-your-dgtx-token-and-gain-early-access-rewards-with-zero-fees-attached
Gracias, buena informacion.
de verdada si lo es.
without any control nowadays too many new coin :x its consider good or bad?
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