Quote from: onecall123 on Today at 06:36:44 AM

Quote from: Niobeh on Today at 06:18:53 AM

Quote from: omonuyak on October 09, 2018, 07:32:47 PM

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing. The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

It cannot be stopped, anybody can start their own coins. It's very true that there are many useless coins being introduced now. As long as people are buying it you can't stop it. Some coins are being hyped so that people will buy them not knowing it's shit in the end. But there are coins that are beneficial and show promises and gains profits to those lucky who invest them. competitions between coins make them stable and develop stronger in the future. It is a free market afterall so we should see it as a norm in the future.

It's recommended to check it when you make deposits, but some people are so lazy that they just throw away their money and do believe in several unknown coins without strong reasons because it has become hyped. Here, you just have to be careful. Particularly some of the other coins that fluctuate dramatically by 10-20% every day. Free money is very appealing to people, and they will do anything to get it. This trend showcases how to make money without having to do any research, a meme coin pumps dramatically fast without having use cases.

It is also because it worked a couple of years ago, no matter what you bought at some point in the future the coin exploded. Those times are long over. Due diligence these days is more important than ever before. That's why it makes sense to have a large portion of your portfolio in coins with a long history and a well known dev team behind it.