Probably because the altcoins are made out of thin air.

The sharp drop of BTC is inevitable though, the price just peaks and because of that, they take profit. It's still going to attract wealthy investors when they see the price dip. You can see Saylor still buying up more BTC. For now, the scammers are calming down but once the price is up again, they'd be back.

You means shitcoins, right?


Not at all. We had ICO craze, we had a huge drop in Bitcoin price (2018), crypto winter (2019) and then we got back where we started from, with Bitcoin hugely rising again and with NFT craze.
So it looks like a sharp drop calms people down only for a rather short period of time and they find another approach for worthless projects to lure people into.


I guess that people just don't want to learn from others' mistakes and they're keen to make their own. So it'll take a while... and Bitcoin sharp falls just make it take longer.

Nothing new tbh. Bitcoin brought innovation, but it doesn't mean that people would accept it as the only one, hence they make more, most of them being suitable for their own purpose, some of them just riding the hype, while some of them taking advantage of the hype to scam others. And hey who knows, there may actually be a better product in the near future, no one can really tell. It's not like every pioneer was the best when they came out, some were easily overpassed by better developers. The start matters, yes, but the one to last till the end is still the winner, whether they start early or late.

I think somebody should start a joke shit coin called "shitcoin"

ticker 'shtc'.

The propose of that shitcoin is to finance a campaign to bring awareness to the issue started at the historic 2010 discussion on potential “shitcoins”, scams, ponzis and how people will lose lots of money buying into them.  

https://bt.irlbtc.com/view/1647.msg20646#msg20646

ps-> if you guys announce it at "Announcements (Altcoins)" please let me know I will send a msg to the Bitcoin maximalist
Max Keiser  

Imitation is the most sincere form of flattery.
Bitcoin will adopt the best of the finance tech.

Alt and air coins push technology and innovation further. There are many more problems to solve than finance. Satoshi once suggested miners have a DNS service, f.x.

It's fine, except for the scams by air conns.

Bitcoin might be the inspiration but certainly not the reason why altcoins are appearing.

You already mentioned that humans are fueled by their greed to create money out of thin air, and they can do that by creating yet another cryptocurrency to get people buying. They just got the idea from bitcoin, but their reasons on creating that coin is not bitcoin per se so there's a difference in there.

No matter how many times people campaign against obvious scamcoins, if there would be enough gullible people around to buy the hype, nothing would change in the scene.

Unfortunately, it has not and in fact I have seen so many new shitcoins and meme coins during the dip of Bitcoin. It happened before maybe around late 2017 when ICOs became so popular and most of them were then using the Ethereum network...right now we are witnessing the mushrooming of new projects under the BSC ecosystem induced mostly by its low and acceptable fees plus other features. Maybe the only way these new projects to stop sprouting if there will be the same cryptocurrency ban that is implemented in China to be done globally...but of course that is not what we really want. The thing is we can not stop these projects but we can choose either not to support them or be selective.

So was bitcoin, and it would be hard to argue otherwise (though all of the initial thought and innovation went into bitcoin's creation, whereas altcoins are mostly clones).  Satoshi basically just made it, and initially a relatively small group of people liked it and used it. 

I've never heard the term "aircoin" either, and I'm assuming OP just made that up or there's a bit of a language issue at play here.  Some shitcoins might as well be air, but not all of them are crap.  Whether you want to admit it or not, some coins have improved on bitcoin--whether it's faster confirmation times, lower fees, or the ability to create smart contracts.  Bitcoin most likely will remain the king of cryto, but there are never any guarantees of that.

No, it's not--at least not for all of them.  I'd say bitcoin fork coins are definitely due to the existence of bitcoin, but there are others (like ETH and some of the newer ones) that are different enough from bitcoin that they shouldn't be considered bitcoin ripoffs.

Of course, bitcoin is the main driving force for the evolution of most altcoins but, it ain't the reason for its continuity and success. Many projects have tapped into the ideas and concepts surrounding it but then, not so many has been successful and so many still would always continue to fail out becuase, they don't solve any real problem. For a coin to be successful or a project, its got to solve a problem in the market and have some uniqueness about its futures. These are the things investors look out for to determine if a project is going to be successful or not. Most of what we have now are just baseless pump and dump coins.