Quote from: Ozero on Today at 05:35:46 AM

Quote from: fib1231 on February 05, 2020, 03:57:17 PM

In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.

This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.

As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.

Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.

You described it as if the big problem with cryptocurrency is that it is open source and therefore anyone can create their own cryptocurrency. Because of this, a lot of fraudulent and worthless coins and tokens appear. This is not a disadvantage, but an advantage of cryptocurrency. It is thanks to free access for everyone that cryptocurrency is developing and improving very quickly. If you limit access to it to create new types of them, there will certainly be abuses by those who will decide at their own discretion to allow someone to create cryptocurrency or not.
Potential investors simply do not need to rush to invest in all the coins and tokens that are rising in value. That is the problem, but it is an individual problem.

I don't mind if new projects keep popping up, because it is a beautiful thing if everyone is given the freedom to create their own crypto coin.
Later the selection process will run naturally, only good coins can usually survive. Good coins will usually gain the trust of investors and the coins
will continue to grow and increase in demand. While the bad coins, will die by themselves. Actually as long as we are not in a hurry to choose
coins for investment, then do research and analysis properly, we should be able to distinguish which coins are worth buying for investment.
That is why we must really know the coins that we will buy, so that we are not wrong in choosing coins for investment.