A coin that solves a problem won't die - page 6.

aardvark15

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

There are altcoins that will fill a niche that potentially Bitcoin can’t. Micro transactions for example could be a problem for Bitcoin if the fees stay this high. There are some altcoins that have very little to zero fees that can be used for very small transactions.

CryptopreneurBrainboss

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

On a general note, altcoins aren't bad per se especially when they introduced something different that bitcoin isn't focus on just like the creation of decentralized applications which can be done with the ethereum blockchain. The industry can do without all the project claiming to be solving the border currency issues which bitcoin is already working towards solving. Understandable bitcoin hasn't handle the privacy issue effectively so when coins like Monero pops up, it's quite acceptable as it give bitcoin less responsibilities to handle and focus on just accomplishing the global currency dream.

Your point is exactly why I did this thread; Altcoiners, don't give up yet, Bitcoin can't do it alone. in my opinion for every problem available, supposedly we had just one project focusing on solving that problem then the nuisance of worthless coins all over the industry won't had been the case. Be cautious though as you pick interest to invest in project actually contributing to the industry as those that aren't innovative looses patronizers on the long run especially when new and superior project pick interest in solving that same problem.

mirgo1791

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

I have to whole heartily agree with you brother. I think this may have been the reason that Mr. Satoshi Nakamoto had decided to choose the altruistic approach and make the Blockchain and Bitcoin an open source code.
His idea was genius, but combined with the collaborative work of others makes cryptocurrency unstoppable. Even if Bitcoin fails and becomes obsolete one day, the source code will live on within the foundation and backbone of other coins, made after Bitcoin and Block-chains likeness and image. Bitcoin is like the holy grail of cryptocurrency Cool

shoreno

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you might be right with your explanations above because btc did not exist alone . i mean btc is not only the crypto that is being created but few month/year later eth suddenly appeard . eth have been created because the dev's also know that btc do have lack of something and they invent eth to supply those feature that btc lack . eventually people are not yet satisfied that they think that these two coins are not yet enough to solve their problems , until then many cryptos and tokens are suddenly being created .

infarterr

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

The fraction of the problem that you are describing in this post is like an advantage where one can solve the problem in his life, but it would be strange if we said that to a layman about cyrpto, because they would think how can a coin be solve problems in someone's life.

Vishnu.Reang

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

The problem is that we have dozens (if not hundreds) of coins which are designed for the same purpose. And in the end, it turns out that none of them are 100% perfect for that purpose. Take the case of anonymous coins. Earlier there was only Monero. But now we have hundreds of anonymous coins, including Verge, Veil, Zcash and Deep Onion. And the problem is that none of these coins are able to provide 100% anonymity to the user.

3DBrushes

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

Yeah! We can't have one or two coins for every purpose but in the same way we cannot have many coins for same purpose. Say like there 10+ coins for money transferring or crypto bank related coins. Then what is the use of having so many coins like this?

target

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Its not just the use case of the project that matters. If the government sees the project is centralized, they may be able to shut it down just like Ripples or Ethereum and if they do that your investments go with it. Exchange tokens are somehow very useful and profitable as well but its also centralized which is why some people still have doubts about it even when they need it while trading.

White Christmas

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

The many coins that we have in the crypto space are the merrier in terms of solving the problems we have in this world because in terms of technology it is more likely in coins because blockchain technology in which we are considering that this is the future of the technology and may helps us to solve every problems in the world that needs advance technology, right? That was right that those coins that have use in the market will not die, for example those altcoins that has a used in the current market will never die because there is always a time that it will pump or fluctuate so it will not die or lose its use.

Marble777

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I think more with a few coins that have a good future and some coins that are bound by the system they have built and some coins that are already in high rank, those coins are certainly very good if we keep it for a long time but still everything control over crypto assets is with us so that when there is a right time to take advantage we can take it by continuously monitoring the development of the assets we hold.

Kupid002

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

the question is what kind of solution they want to solve and if the things they want to solve can help investors to stay longer . The use cases is important factor but are they able to get enough liquidity and give more enough demand to the market that can help the price to get higher for long term.

Ucy

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Better still, a coin that solves important problems and continues to adapt and improve in line with crypto values/principles won't die easily or will last long. The crypto world really needs the multiple cryptocurrencies for the sake of innovation and choices

Hippocrypto

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Quote from: #Darren on November 26, 2019, 09:01:40 AM

Without any questions, a coin that has a real use case that improves centralised analogs or creates something new will never suffer on market conditions. Unfortunately, as we all see there are no so much coins live at the moment that can offer something like this.

Few of these coins could be worthy for our trust, the rest would be nowhere to be found and could be shitcoins in the long run. If a certain coins will be useful for a specific product that uses crypto on purchases, that would always possible to solve several problems. This won't be out of the limelight, same with eth and other popular coins roaming at exchanges.

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

Cryptos will not solve any problem neither it was created to bring profits in long run.So we just use its speculative nature but it doesn't give any assurance even if the project has real purpose if its just a clone of other existing cryptos.

desticy

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In general, you are right. It is the presence of a working product and the solution of certain problems that distinguishes a good project from a bad one.
After all, any business works on the principle of solving set tasks that are taken from the field of unresolved problems in a particular area.

In this regard, the world of cryptocurrencies is multifaceted and capable of solving completely different types of problems in completely different areas.
Unfortunately, not every project seeks to solve any problems other than problems associated with the lack of money in the pockets of the developer.

DaMut

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even if you are choosing a coin that solves the problem right now, it does not mean something better will not come up in the future.
yes you can choose a coin that has its use case but keep monitoring everything you have because something new might come up and replacing the old one that you currently have.

jossiel

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It is possible before but after the ideas came out that there should be some other coins then it all started. Actually, it's peaceful if we're just going to depend on very few coins. There's no need to have a lot of coins that solve different problems.

What are these new coins solving? the same problems and the existing ones that can be done by the old ones.

#Darren

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Without any questions, a coin that has a real use case that improves centralised analogs or creates something new will never suffer on market conditions. Unfortunately, as we all see there are no so much coins live at the moment that can offer something like this.

MATHReX

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Quote from: Ken_terrance on November 26, 2019, 08:17:42 AM

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

Your point is valid.
Ethereum has something that BTC never had and it took the already defined structure of BTC and improved upon it. (Smart contracts)
So did XMR which focused on privacy.
TBH, the top 50 coins in coinmarketcap are more than enough to solve most of the problems in the crypto space.
The problem comes when there are so many releases of new coins which are technically a fork of an already existing coin with nothing new in features, just that it has a new name or a new algorithm.

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