There have been almost millions of altcoins on the market, and so many of them are already dead, so there is nothing to discuss about that. Some altcoins just appear on the market, and in a few days they are dead because they didn' receive the enough attention from the investors, or maybe they were just stuck on the ICO price and then it went down by a lot of money, and the investors decided to dump all their coins.
The market can sustain as much altcoins as it wants, the only thing that makes the difference is the people, we are the only ones who decides which altcoins are going to be in there.
Topic: How many altcoins can the market sustain? - page 2. (Read 325 times)
the forward progress of technology and continued rise of globalization makes the concept of a decentralized cryptocurrency increasingly relevant. but how many altcoins serve a distinct and unique purpose? will altcoins become more numerous and specialized to fulfill specific purposes, or will they tend to merge in a more generalized fashion?
Not many will serve a distinct and unique purpose and most will cease to exist after a short while. A survey was conducted on how many github projects regarding cryptos were still active and iirc the number was 8% and less. This means that 90%+ the projects that start out dont make through the whole progression of what they set out to do. Knowing that you should be careful investing in projects that look dead or near dead.
The only one so far is Bitcoin, others are just money grabbers. A look a the ridiculous valuation of ICOs recently shows most are not in it for the tech or to improve the space but to rob investors. Pokaldot project is a good example, majority of their ICO fund is trapped in a contract until when and the team is now saying it will not affect their development of the platform so they just collect the fund because gullible people are willing to donate it to them for free
yeah I see where you're coming from.. bitcoin is definitely the front runner, but I think ethereum and its smart contract capability might fill some gaps. monero is another cryptocurrency that has some unique functionality, with respect to anonymity. I don't know... I think we're going to see a few coins endure while the vast majority are left behind.
The only one so far is Bitcoin, others are just money grabbers. A look a the ridiculous valuation of ICOs recently shows most are not in it for the tech or to improve the space but to rob investors. Pokaldot project is a good example, majority of their ICO fund is trapped in a contract until when and the team is now saying it will not affect their development of the platform so they just collect the fund because gullible people are willing to donate it to them for free
the forward progress of technology and continued rise of globalization makes the concept of a decentralized cryptocurrency increasingly relevant. but how many altcoins serve a distinct and unique purpose? will altcoins become more numerous and specialized to fulfill specific purposes, or will they tend to merge in a more generalized fashion?
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