Topic: Should there be that many cryptocurrencies that exists? - page 4. (Read 701 times)
I just want to share that AML BitCoin is here to stay. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.
If all these coins were only created for new and unique projects It probably would have been better but most of them are only repetitions of already existing and thriving projects, Yet they do not posses the criteria and ability to do better than the already existing competitors, which makes them irrelevant within a short period of time. It is not necessary to have so many cryptocurrencies if a huge percentage of them are not serving any purpose other than pump and dump.
We don't need a lot of cryptocurrency. A lot of people are still creating more cryptos and they hope that it can make them rich but in reality most of the coins here are shitcoins that causes of loss.
If all these coins were only created for new and unique projects It probably would have been better but most of them are only repetitions of already existing and thriving projects, Yet they do not posses the criteria and ability to do better than the already existing competitors, which makes them irrelevant within a short period of time. It is not necessary to have so many cryptocurrencies if a huge percentage of them are not serving any purpose other than pump and dump.
The only reason why there are so many Currencies these days is because the creators have heard stories of coin creator of the past and how successful a couple of them have become! Everybody want's to make money only a few desire to create something decent and more useable! 10 currencies would be a lot ideal after all in the real sense of it everyone is creating a payment solution to be used for some platform which those that were aready available could be used for! Its ridiculous how only a few still consider basic economics in creating a coin, and guaranting the reason for which $Bitcoin was created. On a second thought too many currencies can only create opportunity for a better one, as everyone is given the opportunity to explorer their own expertise in the process.
The amount is really amazing but I think that weaker ones will die soon and other that are more prepared will be increasing too that will make them stronger.
Cryptocurrencies appear on the market and it is not the bad having the dea because it means that the variants for choosing will be larger and more nice.
I think that should happen, because it gives more competition in the crypto market, and also helps the technology in this area quickly break new ground. In any other field, such as stocks, you also see that many stocks are listed on the stock market.
Coinmarketcap says there are 2090 cryptocurrencies in the market, the more the merrier they say. There are shitcoins of course that goes into the market, but I think we can't say they are shitcoins until they have fully developed their product the only we can conclude shitcoins are the ones airdropped and not even listed to its dex.
There are more than a thousand crypto on the market, but for many people, even the top 50 don't know what it is. If it is not because of the interests, then I believe that there will not be so much crypto in the short term.
So do we need so much crypto? I am very aware that 80% of the crypto that exists today is not needed. But perhaps with the development of the market, one day we will see thousands of real crypto in this market. Not now these SHITCOIN
So do we need so much crypto? I am very aware that 80% of the crypto that exists today is not needed. But perhaps with the development of the market, one day we will see thousands of real crypto in this market. Not now these SHITCOIN
Most cryptocurrencies are not required, but since ERC-20 provides merchants with a quick way to create tokens, many merchants copy some old coins for fraudulent purposes!
A quick scheme to create such a new coin and we don't need a lot of them because basically they are created non sense idea and they used it to raise the funds from the investors to scam purpose only. We shall remove more than 80% of them because they are dead coins right now.
Every project wants its own cryptocurrency for obtaining a large amount of money. I can't blame the projects for it, because any business requires a lot of money. I believe that a large number of projects and cryptocurrency help the market develop, projects compete among themselves, thus creating a better product that more people will use it.
Most cryptocurrencies are not required, but since ERC-20 provides merchants with a quick way to create tokens, many merchants copy some old coins for fraudulent purposes!
Why not, because all projects solve some problems related to technology, and tokens are a way to attract investors, the main thing is that projects are working!
... Why can't there be one or five cryptocurrencies that all projects can use?
it is simply because there is nothing stopping you from copying the code of some altcoin and create money out of thin air with near 0 effort and that attracts thousands of people that are trying this every day. the number is a lot more than 1600 but most of them die in infancy since they are so shit! and nowadays with ICOs and the easiness of creating a token the problems have doubled.
It's hard to tell if we need so many crypto coins. There are many projects on the market, but they are used for different purposes. In my opinion, a restructuring on the crypto market should be made in the future. The importance is the quality of the projects, not the quantity, and this restructuring or a possible sorting of projects on the basis of their potential, would bring many pluses on the market. People are clinging to so many SCAM projects they've invested in. This is the most important step the crypto market should do for people to invest in the crypto coins.
It is all the same as in Russia, after the revolution of 1917, they tried to ban all types of shoes, except for one set by the government. Who are the other types of shoes that interfere with? What are the cryptocurrency varieties? If they turn out to be unclaimed, they will disappear in time. And why bother to raise this topic at all if we can’t ban them anyway? Does anyone like so many stars in the sky? This, too, someone too lazy to view. Let's ban?
Among those many cryptocurrency that available right now, there will be applied a natural selection, all the coins that has a good quality will be able to survive and coins that has no quality will surely vanish.
They will exist as long as people see value in them, once they stop bothering with them, they will cease to exist.
No, I think these projects must be collaborating more so there will be less coins or tokens. Majority are just money grab and shitcoins that is better left untouched.
any existing crypto always comes up with new technology and also a new system certainly could have been better than his predecessors or even worse. This must be a new innovation which many who want new technology for the development of crypto. many are hoping the new crypto there is better and here's the real goal of many new cryptos keeps popping up.
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