1. Every cryptocurrency, I believed, has their own turning point - either a good or bad one. As well know, almost 99 percent of cryptocurrencies were built only under speculations and with no real product or usage, at least not yet. And soon, those cryptocurrencies will be facing their own turning point where they need to release a real product or they need to shut the project down.
2. Yes, those who can't even provide their own usage will soon die. Realistically, I don't think that the number of ICOs will decline dramatically but the opposite. As time goes by, as we learn the real essence of blockchain, there will be more and more projects and ICOs soon.
3. As a fan, I think, those top cryptocurrencies (bitcoin included) will have a world wide adoption. In a year or ten, blockchain will be the most critical aspect of economic and finance.
Topic: Competition between altcoins - page 9. (Read 2206 times)
For sure I believe that a lot of shitcoins are eventually going to die, but this is not due to the fact that there are a lot many coins.
When you compare such things with stock, there are enormous stocks available on exchanges which keeps on getting added time to time and a lot of them get delisted because they are not able to keep the daily required volume.
A big number of cryptocurrencies is good in a way, as it spreads more awareness but if they cant keep there worth over the time they are going to die.
When you compare such things with stock, there are enormous stocks available on exchanges which keeps on getting added time to time and a lot of them get delisted because they are not able to keep the daily required volume.
A big number of cryptocurrencies is good in a way, as it spreads more awareness but if they cant keep there worth over the time they are going to die.
Believe me in the time to come it will be more lesser competition as compared to what you are seeing today. The reason is simple and it straight away includes the interaction of the government with the crypto currencies and their huge rules and regulations that will be coming underway soon. Yes, they are not just going to sit and watch billions of dollars being flooded in the virtual money and see millions of dollars being robbed against the taxes. I guess this will put crypto currency on strictest rules and thus there will be decreased number of altcoins and sooner or later less competition as there wont be much of them out there to compete.
Yes, you are right, there are way to many crypto currencies right now on the market.
The average life span of a crypto currency is about 1.5 years so, you can expect a lot of them to fail during this time but some of them will succeed and will be used on a larger scale.
Take a look at ETH, a few years ago it was just an ordinary crypto currency but now it's used by millions of people.
I think there will always be a lot of them on the market because as soon as one closes, another one comes back to take it's place.
You need to weed though them and select the ones with a good idea behind and a higher rate of success.
The average life span of a crypto currency is about 1.5 years so, you can expect a lot of them to fail during this time but some of them will succeed and will be used on a larger scale.
Take a look at ETH, a few years ago it was just an ordinary crypto currency but now it's used by millions of people.
I think there will always be a lot of them on the market because as soon as one closes, another one comes back to take it's place.
You need to weed though them and select the ones with a good idea behind and a higher rate of success.
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?
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?
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