Topic: How many different cryptocoins we need (Read 211 times)
It's just like people: how many do we need? We got billions of them. Most are useless, but 1 in a few hundred million turns out to be a genius that changes the world forever.
Actually, If the entry barriers are low and new cryptocoins are easy to introduce to the market, I don't think that's such a bad idea.
This might pose a threat to the already competing coins in the market but I also think that's good. More competition means more coins stepping up their game and this is good for the crypto currency as a whole.
This might pose a threat to the already competing coins in the market but I also think that's good. More competition means more coins stepping up their game and this is good for the crypto currency as a whole.
There is no limit to the number of coins we can have as long as they are real project, with improvement in technology and science more project will come to the space, but what people need to understand is that good idea is not enough to make a project success
Indeed, I would agree that there is no limit on Crypto Market, and I believe that having over 1,500 altcoins today do have a lot of space in the market and we still do have to make a lot of Cryptos to accommodate all the people's money and to be the world to adapt fully Blockchain and Cryptocurrency that is indeed important for our future.
Cryptocurrency is our future and it is the most important thing happened in my life since last year.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
Having a lot of Cryptocurrencies are not that bad because if you're going to match it with the gold and oil reserves, Crypto Market has still a lot of space and I do believe that this kind of Crypto Market capital is still on it's early stage. Half trillion dollar Crypto Market is a very small asset or like just an asset of a tiny country.
We need more Cryptocurrencies because there are hundreds of thousands of businesses around the world that needs to adapt blockchain and Cryptocurrency in order to offer more scalability and flexibilities to their clients and customers.
hmmm i think that 3-4 coins that you very familiar with are enough
they also can be changed depends on the momentum
but holding too many different coins is not fun :X
they also can be changed depends on the momentum
but holding too many different coins is not fun :X
i think lot of coins can be useful regarding what you want to chieve, but i also a lot of coins are overbought at the moment, the ultities of a coin will not always related to a market grow of the price.
This sounds like a pipedream. How can one stop innovation from happening, and why limit it at all. Whining or personal comfort should not be the yardsticks for universal change.
A very abstract question that requires a very objective answer, I certainly will not write for so long, because I will erase my fingers, I think that we need as many tokens and coins as there are ideas for humanity to implement it, so I think there are no limitations .
There is no limit to the number of coins we can have as long as they are real project, with improvement in technology and science more project will come to the space, but what people need to understand is that good idea is not enough to make a project success
This is a very "newbie" type of thought, but when you look at how many people are unfamiliar with cryptocurrency on top of how many are just plain not good with computers I think this creates a barrier to investing in cryptocurrency. there are multiple coins and how coins actually work and can hold value so it makes sense to me now.everyday new altcoins appear.so newbees become more and more confused.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
Actually i agree with you, the cryptos coins should be just several cryptos coins but it will not happening because cryptos coins is decentralize, every people has right to make their own cryptos coins related with the business and their projects. Let them makes innovations in cryptos coins, we just need to analysis of cryptos before desicions to investing in them and ignore the scam cryptos coins.These days there are so many projects with non sense business plan.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
Yes this is part of the game, if there is opportunities to make money , there will be more and more people as long there is money to make.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
They will be more, it not to stop.The only way not to run into scam is to seek advice from people who are not the first year engaged in the selection of ICO for investment. You are absolutely right. The majority of new coins are trash, just aimed at making some quick money, without any product or long-term goals.
You can break coins down in to a number of categories:
Payments and Currency: Bitcoin, Litecoin, Nano
Platforms: Ethereum, Neo, Icon
Security and privacy: Monero, ZCash
Finance and banking: Ripple, Stellar, OmiseGO, Request
Business and industries: VeChain, Waltonchain, Exchange coins
Others: Ark (inter-blockchain), IOTA (Internet of things), etc.
I would argue there is a long-term use for less than 50 cryptocurrencies. If your product is trying to fit in to one of the categories above, tell me what it does better than one of the coins already in that category. If the answer is "nothing", then your coins is trash and unnecessary.
Example: Dentacoin. An overvalued scam coin, that is thankfully slowly falling out of the top 100.
You can break coins down in to a number of categories:
Payments and Currency: Bitcoin, Litecoin, Nano
Platforms: Ethereum, Neo, Icon
Security and privacy: Monero, ZCash
Finance and banking: Ripple, Stellar, OmiseGO, Request
Business and industries: VeChain, Waltonchain, Exchange coins
Others: Ark (inter-blockchain), IOTA (Internet of things), etc.
I would argue there is a long-term use for less than 50 cryptocurrencies. If your product is trying to fit in to one of the categories above, tell me what it does better than one of the coins already in that category. If the answer is "nothing", then your coins is trash and unnecessary.
Example: Dentacoin. An overvalued scam coin, that is thankfully slowly falling out of the top 100.
Thanks for you catagorizing!
It's very useful for me!
Too many cryptos here for a newcomer. Now I can see tops and where they can be used
So I can research them thoroughly. 
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
Decentralization and democracy means that there really is no limit to currencies and tokens. We have to one day realize that we need to focus on only several important cryptos. The few as currency and means of payment (if not only one which is Bitcoin) and several utility tokens (if only there were tokens that also moved beyond trading and exchange utility). Ethereum is probably the closest in this regards, along with Monero that focuses on privacy. I see my alts and I only really need Ether for gas and Litecoin and Monero for buying. Bitcoin for everything else.
I would say after all the dust settles there will be somewhere in the area of 30 to 50 strong coins with around 50 to 75 coins trying to be included in that top 50 on a revolving basis. There will always need to be startups trying to make a better mousetrap.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
I think cryptocurrency world needs a lot of coins, but of course, just the strong and promising ones. If some people stop tryig to be rich by making new useless coins, the cryptocurrency world will become much more reliable.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
Decentralization and democracy means that there really is no limit to currencies and tokens. We have to one day realize that we need to focus on only several important cryptos. The few as currency and means of payment (if not only one which is Bitcoin) and several utility tokens (if only there were tokens that also moved beyond trading and exchange utility). Ethereum is probably the closest in this regards, along with Monero that focuses on privacy. I see my alts and I only really need Ether for gas and Litecoin and Monero for buying. Bitcoin for everything else.
We already have enough coins/tokens for this level of adoption. Maybe after a few years we'll find actual use cases for these coins or most probably, they would be shaken out of the market eventually. Either of the two events are a win.
Then comes the time when investors are no longer interested in new altcoins and only strong coins can survive. No one cares, it will be worthless
It's free market everyone has rights create new coin, new economic. IMHO more suggestions it's better than without them.
It depends, one can has lots of different coins because there are rally many good coins but it is difficult to catch all good coins. It requires a good understanding of this market and future.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
Actually i agree with you, the cryptos coins should be just several cryptos coins but it will not happening because cryptos coins is decentralize, every people has right to make their own cryptos coins related with the business and their projects. Let them makes innovations in cryptos coins, we just need to analysis of cryptos before desicions to investing in them and ignore the scam cryptos coins.
I don't understand too why there's hundreds of altcoins in the market and seems unlimited. Some of these ICO's are often just a copy-cat trying to imitate other coins. I do hope there's a government that controls the release of ICOs in the market so that there'll be less people joining scam projects in the future.
I think that the more coins, the more competition and better conditions for both those who participate in banuti campaigns, and for investors.
Well, I do not see the so many cryptos as a problem. I tend to look at them as we have several companies on the floor of the stock exchange. Does that confuse us having so many stocks? Of course the answer is no. There should be more cryotos in circulation so that investors will have varieties to pick from. The more the merrier and that gives us the advantage from bargaining well.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
No. Not really.
It confuses indeed the newbies and this is good. People should really start with doing their homework thoroughly before throwing in their money.
But how many cryptocoins we need? As many as possible. Just think: how many businesses we need in this world?
Some coins are clearly scams. Those have to die off. But there are many legit businesses backed up by ICOs nowadays, then there are coins bringing new features.
Just imagine, if people would think like you and would have started bashing Litecoin and Dogecoin for not bringing almost anything new to Bitcoin, things like Ethereum or Monero would have never existed.
So, the variation is good. The variation is part of evolution and also brings in the competition (without competition Bitcoin may have never started on SegWit or LN!!). All people need is to read more and filter out the weed.
I partly agree with you. The growth in numbers is exponential, I don't think this can be good, the market won't be healthy for long if a lot of trash projects get onboard just to make easy money. Let's see what happens, but I hope 2018 will be the year of settling for ICOs.
I think it's up to us, as a community, to stay away from shit coins and scammy ICOs.
They'll eventually stop making them if no one invests.
I partly agree with you. The growth in numbers is exponential, I don't think this can be good, the market won't be healthy for long if a lot of trash projects get onboard just to make easy money. Let's see what happens, but I hope 2018 will be the year of settling for ICOs.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
You can't expect that there exists only bitcoin. There are many currencies worldwide now. There is a space for all of them and there is a space for all cryptos. Point is that ones with higher purpose will sustain and others will slowly tank. You can't stop other devs fr starting new ICOs and coins all the time, this is how this whole place evolves into something. Give it a time and let's see in few years where we will be.
Some coins are developing towards different goals and are trying to achive different thing. It is interesting when you start to take notice and read about many ideas in the space.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
I don't mind having different cryptocoins - love the variation.
But it's the many different shitcoins that we definitely don't need.
If you can not find good start in here maybe it is not place for you. I think this place is only for people which can understand crypotcurrency. Not everyone can be a fireman, here is similary
what you mean by 'in here'? this forum? 
If you can not find good start in here maybe it is not place for you. I think this place is only for people which can understand crypotcurrency. Not everyone can be a fireman, here is similary
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
The ease of making cryptocurrencies is the reason why there are so many altcoins today. It is true that many altcoin do not have the quality and even they have a goal to gain profit for themselves. The impact is that today many investors are losing money because they chose altcoin wrongly. My suggestion is to choose an Altcoin that does have a good prospect and perform an analysis is an obligation to get the best results. As for a beginner then I suggest to choose altcoin which already have big name, we can choose bitcoin cash or Etherum as an option. We know everything that happens in crypto world is at risk and I think everyone already knows it.
I agree, now appeared too much and too much altcoin, and whether these altcoin has really useful, I have my doubts, I think most of the altcoin even just for money, most of the ico is a hoax.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
I agree. I don't see the point in having so many cryptocurrencies. Anyone can make a new currency any day.... More and more scams will occur.
You are absolutely right. The majority of new coins are trash, just aimed at making some quick money, without any product or long-term goals.
You can break coins down in to a number of categories:
Payments and Currency: Bitcoin, Litecoin, Nano
Platforms: Ethereum, Neo, Icon
Security and privacy: Monero, ZCash
Finance and banking: Ripple, Stellar, OmiseGO, Request
Business and industries: VeChain, Waltonchain, Exchange coins
Others: Ark (inter-blockchain), IOTA (Internet of things), etc.
I would argue there is a long-term use for less than 50 cryptocurrencies. If your product is trying to fit in to one of the categories above, tell me what it does better than one of the coins already in that category. If the answer is "nothing", then your coins is trash and unnecessary.
Example: Dentacoin. An overvalued scam coin, that is thankfully slowly falling out of the top 100.
You can break coins down in to a number of categories:
Payments and Currency: Bitcoin, Litecoin, Nano
Platforms: Ethereum, Neo, Icon
Security and privacy: Monero, ZCash
Finance and banking: Ripple, Stellar, OmiseGO, Request
Business and industries: VeChain, Waltonchain, Exchange coins
Others: Ark (inter-blockchain), IOTA (Internet of things), etc.
I would argue there is a long-term use for less than 50 cryptocurrencies. If your product is trying to fit in to one of the categories above, tell me what it does better than one of the coins already in that category. If the answer is "nothing", then your coins is trash and unnecessary.
Example: Dentacoin. An overvalued scam coin, that is thankfully slowly falling out of the top 100.
Nowadays there are thousands of different altcoins and everyday new altcoins appear. People especially newbees become more and more confused. Cryptoworld becomes more difficult to understand and ordinary people afraid to enter it. I think it should become more simple by leaving only several cryptocoins. What is your opinion?
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