Competition between altcoins - page 7.

tee-rex

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Quote from: sh4dtechnr on August 28, 2018, 04:15:45 AM

Quote from: tee-rex on August 20, 2018, 02:54:49 AM

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

Generally, competition is always good. Too many projects? if you do not take into account all the scams and fraudulent ico, then there will not be much left, firstly. secondly, blockchain can be used in various industries, from sports betting and games to construction, loans and insurance. it is possible even in political elections to use something like a blockchain, that's will be a bomb - a transparent, open to everyone, absolutely honest election system. in general, anywhere. life is very multifaceted and do not think that there are too many of these projects - they may be yet, vice versa, few. I think there are still many unrealized or just emerging now, today, here in the life of ideas and this is good.

But this topic is about altcoins, more specifically, about competition in the altcoin market. It is definitely not about politics and whatever the blockchain technology can be used for (apart from altcoins, obviously). The problem with this competition is that it looks like it can't weed out bad altcoins (shitcoins). So no matter how tough it migh be or become, there will always be a constant influx of new shitcoins. In this manner, coins that lose and are abandoned will be quickly replaced with new batches of trash, maybe, even less competitive but that won't matter either.

And this is the point that I want to discuss here.

della46

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maybe such competition is very thin because every altcoin most of them work together to succeed each other in terms of investment and so on.

Bumidinasty

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Indeed, there is a lot of competition between altcoins, in my opinion it's good for crptocurrency development because many people believe in crptocurrency and add a lot of volume to the crypto market, but too many coins in my opinion are also not good because there are certainly many fraudulent coins that just want to take our coins

tytanhamon04

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in fact, there is no competition, very rarely. But the market will get rid of useless tokens in the future !

maxamus

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Quote from: vrabac68 on August 27, 2018, 07:09:58 PM

I believe we will have more and more projects coming out on this space and that there will be many competitors in all parts of the business. I believe they will not die. even shitcoins will still exist because when more and more people come in crypto and because of limited supply it can drive price only up

Yes there are more competitors in this platform but we need to focus only on the trending crypto coins like Ethereum, XRP, BCH, ADA. also we need to ignore the wrong one. this coins cannot compete with other altcoins.

raghovsing34

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Quote from: MrVania on August 27, 2018, 07:12:44 PM

The competition is real. Like honestly I think BTC is ruling but ETH is progressing super fast and in my opinion, soon will be an important altcoin and be on the same level as BTC. Maybe in some months/years. We do not have the dates when it will happen, but I´m sure it will!

Yeah currently we can see lot of cryptocurrency coming on market and they always trying to beat others to become best one. This competition will run until cryptocurrency die. But maybe it is not possible. We are looking for new crypto coin like Bitcoin.

BTMotiloz

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I think all of these currencies will fall down eventually. And national and international backed by banks with huge amount of caps behind them like Ripple will last. People trust these more to invest

sh4dtechnr

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Quote from: tee-rex on August 20, 2018, 02:54:49 AM

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

Generally, competition is always good. Too many projects? if you do not take into account all the scams and fraudulent ico, then there will not be much left, firstly. secondly, blockchain can be used in various industries, from sports betting and games to construction, loans and insurance. it is possible even in political elections to use something like a blockchain, that's will be a bomb - a transparent, open to everyone, absolutely honest election system. in general, anywhere. life is very multifaceted and do not think that there are too many of these projects - they may be yet, vice versa, few. I think there are still many unrealized or just emerging now, today, here in the life of ideas and this is good.

tee-rex

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Quote from: Arkham Knight on August 27, 2018, 08:44:33 PM

Quote from: tee-rex on August 20, 2018, 02:54:49 AM

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

I'm sure that anyone assume that those loads of shitcoin will just die. I've seen some of them just getting delisted in exchanges without people noticing unless you hold them and the exchanges notified you. The traders strategy is just to make profit on these coins and shift to the new ones and that is the purpose of the other 1000 shitcoins that exist.

It is like Pandora's box or a genie out of his bottle. Once it is on the loose, you can't get it back. Even if 1000 shitcoins all of a sudden die today, tomorrow there will be even more of them. It happened in the dotcom era, but since that market is (was) highly regulated, that genie was forced back from where it had escaped. The cryptomarket is resistant to shutting down or just regulation, so things are likely to continue in this way until something interrupts the process. What it could be I don't know as human nature (greed, more specifically) is unlikely to change overnight.

Arkham Knight

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Quote from: tee-rex on August 20, 2018, 02:54:49 AM

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

I'm sure that anyone assume that those loads of shitcoin will just die. I've seen some of them just getting delisted in exchanges without people noticing unless you hold them and the exchanges notified you. The traders strategy is just to make profit on these coins and shift to the new ones and that is the purpose of the other 1000 shitcoins that exist.

maiden

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Quote from: Allenz on August 26, 2018, 12:52:37 PM

Nowadays there are many good cryptocurrencies that deserve your trust and your attention, too many I would say, sometimes you spend too much time to choose.

I agree with this. Theres a lot of new born altcoins that is trusted nowadays, but the investors and hodlers always stick in the top altcoins so they didn’t see the value of new alts. Altcoins competition is real, its getting stronger because many coins existed nowadays.

MrVania

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The competition is real. Like honestly I think BTC is ruling but ETH is progressing super fast and in my opinion, soon will be an important altcoin and be on the same level as BTC. Maybe in some months/years. We do not have the dates when it will happen, but I´m sure it will!

vrabac68

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I believe we will have more and more projects coming out on this space and that there will be many competitors in all parts of the business. I believe they will not die. even shitcoins will still exist because when more and more people come in crypto and because of limited supply it can drive price only up

Bitcoin+Fi

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Agree that now there is a lot of divorced altcoins. They definitely do not need so much in the world of crypto currency. Because I believe that in the future a lot of people will simply die because they will not stand the competition. I think that about 20 altcoins are enough.

Yamifoud

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Quote from: cryptolidus on August 27, 2018, 06:37:09 PM

There are too many altcoins but many of them are utility tokens, only for internal use on the platform. Many coins will die for sure as the market will kill those which are not valuable. Cannot specify what would be the optimal number of coins but strong competition amongst them is healthy .

Competition is getting strong as many coins existed today. A huge number of coins will definitely give people to freely search potential coins for investment and also it could be bring them into losing if they choose the wrong one.

cryptolidus

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There are too many altcoins but many of them are utility tokens, only for internal use on the platform. Many coins will die for sure as the market will kill those which are not valuable. Cannot specify what would be the optimal number of coins but strong competition amongst them is healthy .

tee-rex

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Quote from: Slimztee on August 26, 2018, 04:37:42 PM

There are way too many alts in the space right now, many are copies of each other. Many are without any use case. Many are scams intended to fleece the system. The current bearish market has seem some coins bleed out, without any hope of surviving. In a year or two, many of these projects will exit the space.

I'm afraid that even if all subpar altcoins died in a year or two, this wouldn't change the crypto landscape in any significant degree any time soon. Altcoins and ICO tokens are a perfect vehicle for sucking people's money, so if one altcoin dies, two more will respawn immediately. As long as there are people willing to risk their money in the pursuit of quick profits, there will be shit coins and shit tokens.

poodle63

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Quote from: inillo on August 26, 2018, 04:32:45 PM

Quote from: Kryten12 on August 20, 2018, 03:32:21 AM

2018 will certainly witness some attrition amongst the altcoins not least as projects that thought they were well funded did not take adequate measures for a huge downturn in the Etherreum price and now find themselves running on fumes. The stronger well managed projects will however survive and will prove to be great investment opportunities for 2019 and beyond.

I wish there were some competition but for the moment most tokens and coins are strongly linked to Bitcoin and perhaps ethereum. The market is not yet mature to offer real competition.

Although if you analyze more detailed most of them are competing to take the 2nd position from overall highest coin with total market cap. you see eos eth cardano they are competing each other and I can say it's competition, also some token under those smart contract platform are also competing each other, it's not always competing to get 1st position.

Husecomang

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Quote from: target on August 26, 2018, 01:37:10 PM

I guess we can look at it sooner not as digital currency but an investment like stocks or shares but can be used to trade, buy product and services too. I agree there are lots of them right now and there are more coming which are more advance than just a store of value. Some of the represent a company and a utility token that can be used inside its platform. I don't think it all compete between each other but they go along side together which traders can exchange.

A lot of altcoins are there which have very strong competition in fact most of the altcoin have very good potential and their future look like very bright, therefore there always remain a very tough competition between them. For example ADA and NEO both are too good for investment and therefore both have very tough competition.

Slimztee

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There are way too many alts in the space right now, many are copies of each other. Many are without any use case. Many are scams intended to fleece the system. The current bearish market has seem some coins bleed out, without any hope of surviving. In a year or two, many of these projects will exit the space.

Topic: Competition between altcoins - page 7. (Read 2204 times)