How many cryptocurrencies are there exactly?

[Heatman]

It's really funny how you still claim it's not a Ponzi scheme. Now what's the difference between what you just described and a Ponzi scheme? You think Ponzi scheme is only applicable to websites? You're really contradicting yourself.

What is a ponzi scheme if I may ask you? But don't worry, I'm going to help you out. A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors.

When have any cryptocurrency took money from any investor to pay existing one's?

The problem is that you don't even understand the difference between a ponzi scheme and cryptocurrency scam and you don't want to put efforts into learning.

Yes, you can say cryptocurrency scam looks like ponzi in a way that it ends up making people lose money in scam but that doesn't make a ponzi scheme a cryptocurrency scam.

 

[Skysaint]

...pays existing investors with funds collected from new investors.

What about the very first set of investors that needs to be paid so they could do spread the word to other people? Where do they get that set of people's payment money from? Well, I have seen that you're not ready to grasp the idea yet but to me they're all one and the same and a dictionary might help you out though.

 

[Ja Sa Bong]

I've never cared to know about how many cryptocurrency we have in the market. What am I supposed to do with that knowledge? It's absolutely nothing and it's why I'm only interested in knowing about the cryptocurrency which I'm interested in investing into. Any other cryptocurrency can do whatever they like, I'm not worried.

 

[Heatman]

What about the very first set of investors that needs to be paid so they could do spread the word to other people? Where do they get that set of people's payment money from? Well, I have seen that you're not ready to grasp the idea yet but to me they're all one and the same and a dictionary might help you out though.

It's only a cryptocurrency pyramid scheme that works like what you have explained. A very good example of it is what happened with OneCoin. It's the biggest cryptocurrency pyramid scheme that investors lost over $4 billion.

 

[Riberet19]

A few months ago I looked at coinmarketcap and it said that there were more than 26k cryptocurrencies, but just today I looked again and realized that now it says that there are more than 1.8 million cryptocurrencies, how can this be possible? I think the market is getting out of control, so why do we want almost 2 million cryptocurrencies?

 

[Heatman]

A few months ago I looked at coinmarketcap and it said that there were more than 26k cryptocurrencies, but just today I looked again and realized that now it says that there are more than 1.8 million cryptocurrencies, how can this be possible? I think the market is getting out of control, so why do we want almost 2 million cryptocurrencies?

Well, I'm not bothered about the numbers that are pumping out into the cryptocurrency market every day because I know that over 70% of them are scams and shit coins projects. As long as they are not the coins I have come to understand the project behind it, I will not invest $1 in it for any reason whatsoever.

 

[Riberet19]

Well, I'm not bothered about the numbers that are pumping out into the cryptocurrency market every day because I know that over 70% of them are scams and shit coins projects. As long as they are not the coins I have come to understand the project behind it, I will not invest $1 in it for any reason whatsoever.

I do not care about the number of cryptos in the market because I am not going to invest in them either, but now in a way, I understand why they wanted to establish in the new regulations that there would be more control over new crypto projects and issuance of new cryptocurrencies, because if we continue like this in 10 years there will be more cryptocurrencies than people in the world.

 

[Heatman]

... if we continue like this in 10 years there will be more cryptocurrencies than people in the world.

I'm all in support for the regulations to peg back how new cryptocurrencies are launched because it's going to cut out a scam cryptocurrency projects. A lot of people have been scammed more from the numerous new cryptocurrencies than what most people have lost in legitimate cryptocurrency dips.

 

[Good-Person]

I'm all in support for the regulations to peg back how new cryptocurrencies are launched because it's going to cut out a scam cryptocurrency projects. A lot of people have been scammed more from the numerous new cryptocurrencies than what most people have lost in legitimate cryptocurrency dips.

Well, this is true. The sad reality is that it is very hard to regulate cryptocurrencies, no matter what you do. This is why when it comes to investing in a new project, it is always necessary to conduct your own research prior to investing a huge amount of money. We have the examples of OneCoin and other scam projects out there.