Topic: Do we really need a lot of Cryptocurrencies? - page 4. (Read 807 times)
We don't need a lot of cryptocurrencies, however, the nature of cryptocurrencies itself allows the freedom people to create their own currency and compete in the market. It has its good side as well as bad side. The good side is that it offers the freedom of choice and opens up creativity and innovation without hindrance by any authority, etc. The bad side is that many of the coins are of little or no value and are better of not existing. Too many coins indirectly means cyptocurrency value and volume of trade will be reducing- we cannot predict the rate at which new cryptocurrecy enthusiasts join the narket.
It can be a improvement for the whole market cap, but if we look at a few years back then we see that a lot of projects are dead. This mean that only the good and valuable projects will survive in the world of cryptocurrency.
Some poor quality projects, the value of the coins are always stomping in place, can not grow up. So do not make the wrong choice, consider and be careful while choosing the penny to invest. 
Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.
But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
Realistically no, we don't. But if you think about it, those cryptos most likely end up being a scam or a fail,so those don't affect many things. The idea of using crypto to raise funds wasn't a bad idea until 2017 happened. People initially came up wonderful ideas, it just lacked proper implementation or some other key factor, and before you knew it: ICO industry became a joke. That's the take of most bitcoin enthusiasts. But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
...we only need 1 for every industry...
Yes, and that is also the reason why there's so much cryptocurrencies in our current stream right now. They're competing and doing their best to get that spot, that one and only spot, in every industry. We may not need those but soon, we will pick one each.
It can be a improvement for the whole market cap, but if we look at a few years back then we see that a lot of projects are dead. This mean that only the good and valuable projects will survive in the world of cryptocurrency.
The big answer is NO is you based it on the current number of crypto projects. There are too many new coins coming out each day and most of them are for funding purposes only. They only care about profits and sadly, most of them don't care of the project will become a success after the ICO. Some will even abandon the project after the ICO. Crypto is messed up right now as anyone can just create their own coin as no one is regulating it.
Maybe we have many crypto in various sectors to have varieties to choose from, competition is good to set others on their toes if a company disappoint you go with another.
For me, we don't really need a lot of crypt I currencies, but we need meaningful cryptocurrencies that have good potential. That have the ability for further development. That aim at solving a particular problem. What I'm trying to say is that, someone might have 10 different cryptocurrencies in his or her wallet, whereas another person with just two might be better off. So it's not in the quantity at times, we need to consider quality too.
Of course, we do not, but if there were none being developed then the idea of innovation in this market would die out. So who thought having these many cryptos will be beneficial? Its what drives others to do better.
We certainly do not need that many cryptocurrencies.
And i also think most coins will not survive.
Of course i can be wrong, but i presume it currently.
In my opinion, all projects should use their chance and try their luck in the game market of the company. I think that society itself should decide which project will be liked and which one will not. Based on the relevance of the project in society and investment attractiveness, it will be possible to determine the prospects. And i also think most coins will not survive.
Of course i can be wrong, but i presume it currently.
I don't think we need lots of Cryptos. Actually there are more than 1000 coins who are already dead. So most of these coins will die and be forgotten. It's kinda like survival of the fittest. Let's see which ones will survive this crazy market.
No we don't need them, the market needs cleaning and it has already begun.
We certainly do not need that many cryptocurrencies.
And i also think most coins will not survive.
Of course i can be wrong, but i presume it currently.
And i also think most coins will not survive.
Of course i can be wrong, but i presume it currently.
Indeed its getting more complicated day by day. Many companies many ICOs many scam projects. This is the time of revolution so after a natural election we will see fewer but stronger cryptocurrencies.
Now it seems that in the world of cryptocurrency intermediate stage, and all unviable coins will be eliminated as unnecessary. with time.
Remain the most stable and progressive.
competition is normal, without it there is no evolution.
It is possible that in the future there will be only monopoly coins in various fields.
Remain the most stable and progressive.
competition is normal, without it there is no evolution.
It is possible that in the future there will be only monopoly coins in various fields.
Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.
But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
No we don't need lot of crypto currency as there are unnecessarily crowding the market and making people fool.But we really need few good crypto currency. But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
In my own opinion, I dont really think that we need so many cryptocurrencies especially if they have almost the same purpose. I see many coins with almost identical purpose, but still they are functioning, so there must be some reason for this. Many alternative coins may also help lessen traffic for because the transactions can be spread rather than focused on one coin.
Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.
But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
But, do we need lots of cryptocurrencies?
More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
There is no need for the increase of number of cryptocurrencies and there is also no need for the decrease. If they want to produce new cryptocurrencies, they have to make sure that the coins they're making are not shit. Because shit coins will only confuse people and make other people's research a waste of time.
Think of it like the variety of brands for a specific product. So it is normal to have multiple altcoins for a specific field, such as banking, energy etc. However, we currently have lots of altcoins for even 1 field/industry. I think the stronger ones will survive this competition.
I think we are no need too many cryptocurrencies, until now more than 2045 cryptocurrencies have been registered on coinmarketcap.com, with the number of crypto certainly confusing us and I'm sure there will be many coins that die because they can't compete.
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