Bitcoin was worth $20,000 in December. It has since lost 70% of its value due to thefts and disputes with regulators, but it remains the most popular cryptocurrency in the world. The real drama is the more than 800 digital currencies that died along the way.
Dead Coins It is a website dedicated to listing All cryptocurrencies worth less than 1 cent todayThe full list includes 828 coins, of which 636 were serious but failed to materialize, 125 were scams, 55 were conceived as a joke, and 12 were hacked.
This extensive list of “dead cryptocurrencies” illustrates well the explosion of ICOs in the last 18 months that CNBC compares it to the dotcom bubble 2000. An ICO (Initial Coin Offering) is a process in which a company issues its own currency to finance a project based on blockchainInvestors do not receive a stake in the company’s capital, but rather cryptocurrencies that they can use in a specific product.
Some investors participate in ICOs because they believe in the project, but in general these “digital IPOs” work because newly created cryptocurrencies are very cheap and can yield large profits if their value increases. There has been a huge explosion of ICOs in the past 18 months. CoinSchedule estimates that companies raised $3.8 billion through them in 2017. So far in 2018, that figure has skyrocketed to $11.9 billion.
However, ICOs are very risky investments in which hundreds of projects do not come to fruition and many others are simply frauds, as shown by the list of Dead CoinsIn a world in crisis due to the loss of value of Bitcoin, the result is more than 800 dead cryptocurrencies.
