Topic: One coin to rule them all!!! (Read 124 times)
PayPal’s CEO Peter Thiel stated that he believes that Bitcoin will be the only cryptocurrency that will survive because “it is the biggest”. I really don't know what to say about that, but I am inclined to believe that Bitcoin will not remain the only crypto coin. It could be possible in the future to use a single coin when it will be a single "country" with a single government, but until then the market(and the whole world) is not ready yet to confront that scenario.
At first you have a bitcoin. The rest of the coins are modified versions of the Bitcoin.
Ethereum has started a new concept "tokens".
Some significant changes in the Bitcoin code occurred to enhance privacy like Monero.
Some changes that occur in parts of the cryptocurrency code and are not accepted by the whole community leads to hardfork like bitcoincash.
Based on this, you can use Bitcoin, Ether, or one of the currencies that are designed to enhance privacy.
hardforks & other altcoins are a low quality copies. I do not recommend it
Ethereum has started a new concept "tokens".
Some significant changes in the Bitcoin code occurred to enhance privacy like Monero.
Some changes that occur in parts of the cryptocurrency code and are not accepted by the whole community leads to hardfork like bitcoincash.
Based on this, you can use Bitcoin, Ether, or one of the currencies that are designed to enhance privacy.
hardforks & other altcoins are a low quality copies. I do not recommend it
As bitmover has stated, there are lots of coins that fill all sorts of niches. There's not a single one which can do everything, so there certainly is room for other coins to flourish. Heck, there are a lot of factors to consider even among the coins that fill similar needs, like the vision, development teams, etc. so there will always be competition.
Monopoly is bad, and I'm pretty sure the same would apply to cryptocurrencies as well.
Monopoly is bad, and I'm pretty sure the same would apply to cryptocurrencies as well.
I am fairly new to crypto...as I analyze many of the alt coins, I find a lot of them say the same thing...making transactions faster, getting point of sale in place, making crypto mainstream...etc. A lot of it sounds like spin. In the end, do you think there is going to be room for more than one coin? And if so, what would the scenario be?
There are soooo many GENIUS ideas attached to coins and tokens...eliminating the middleman, decentralizing money, global computers and clouds...just endless...but many of them seem more like companies we are investing in rather than coins that we could use for real world consumerism.
There are soooo many GENIUS ideas attached to coins and tokens...eliminating the middleman, decentralizing money, global computers and clouds...just endless...but many of them seem more like companies we are investing in rather than coins that we could use for real world consumerism.
There are many kinds of "coins". And I think there is room for many coins.
There are those payment only coins, like BTC and all his little clones: LTC, Btrash....
There are Protocol Tokens, like Ethereum, Neo, Icon, Waves... They allow utility tokens to run on their blockchain.
Utility Tokens in my opinion are the riskier, as they are like double risk. If the protocols fails,the utility fails too.
Utility tokens examples are OmiseGO, Chainlink, Golem, 0x....
There are privacy coins like Monero, Dash, PIVX, Particl....
I am fairly new to crypto...as I analyze many of the alt coins, I find a lot of them say the same thing...making transactions faster, getting point of sale in place, making crypto mainstream...etc. A lot of it sounds like spin. In the end, do you think there is going to be room for more than one coin? And if so, what would the scenario be?
There are soooo many GENIUS ideas attached to coins and tokens...eliminating the middleman, decentralizing money, global computers and clouds...just endless...but many of them seem more like companies we are investing in rather than coins that we could use for real world consumerism.
There are soooo many GENIUS ideas attached to coins and tokens...eliminating the middleman, decentralizing money, global computers and clouds...just endless...but many of them seem more like companies we are investing in rather than coins that we could use for real world consumerism.
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