The reason why many altcoin is important - page 5.

Tambu

jr. member

Activity: 224

Merit: 3

Quote from: feelideb on January 29, 2018, 06:47:42 AM

What a brilliant counter- thread to ' too many ICO' etc. People that believe there are to many altcoin are simply short sighted. The market value of cryptocurrency is still very small compare to market value of NYSE etc. We need as many altcoin as possible to remain competitive.

I agree buddy. Altcoins not even 10% of the SE. Yet people don't call some of the stocks in SE junks or useless.

Tambu

jr. member

Activity: 224

Merit: 3

Quote from: Red-Apple on January 29, 2018, 07:29:16 AM

what you say is very true but only in a perfect world.

you are missing an important fact that changes everything. and the fact is that a lot of greedy people and scammers and newbies with 0 knowledge have been creating a large part of the current existing altcoins.

in other words, we don't really have many "altcoins", we have some altcoins and a lot of useless junk. it is a decentralized and open sourced community, so anyone can simply fork another project and create their own thing without even adding anything to the technology!
i read somewhere that there have been nearly 700 coins forked from bitcoin so far!

We cannot deny the fact that technology is always abuse by spammers/scammers, altcoin is prone to that. But is up to the investors/traders to choose which one is credible and not, I believe they are expert on that. Those shitcoins definitely soon will flash to the toilet.

Red-Apple

hero member

Activity: 1470

Merit: 655

what you say is very true but only in a perfect world.

you are missing an important fact that changes everything. and the fact is that a lot of greedy people and scammers and newbies with 0 knowledge have been creating a large part of the current existing altcoins.

in other words, we don't really have many "altcoins", we have some altcoins and a lot of useless junk. it is a decentralized and open sourced community, so anyone can simply fork another project and create their own thing without even adding anything to the technology!
i read somewhere that there have been nearly 700 coins forked from bitcoin so far!

Tambu

jr. member

Activity: 224

Merit: 3

Quote from: Valzador on January 29, 2018, 06:44:38 AM

Quote from: Tambu on January 29, 2018, 06:33:08 AM

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7. Bounty campaign will be continued to progress.

The point you mentioned is true but there are still contra that is emerging of shitcoin , I've heard rumors about Theymos will make a coin or token audit team but lately reportedly has never reappeared, even though the team is very helpful if it is formed.

That's good buddy if gonna happened at least from the start is already screened. All will be benefited on it if it is formed.

Tambu

jr. member

Activity: 224

Merit: 3

Quote from: skelethon on January 29, 2018, 06:40:46 AM

Quote from: Tambu on January 29, 2018, 06:33:08 AM

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7. Bounty campaign will be continued to progress.

But don't you think that having too many altcoins is simply unnecessary and counter-intuitive?

At what point does it start becoming annoying and an inconvenience?

I don't think so. I believe all altcoin are co-important and necessary. They will only differ on their marketing strategy of survival. Altcoin doesn't flourish to the market will die down then. Beside we are just care about our wallet. Coins outside our wallet doesn't annoyed us.

skelethon

newbie

Activity: 168

Merit: 0

Quote from: feelideb on January 29, 2018, 06:47:42 AM

What a brilliant counter- thread to ' too many ICO' etc. People that believe there are to many altcoin are simply short sighted. The market value of cryptocurrency is still very small compare to market value of NYSE etc. We need as many altcoin as possible to remain competitive.

But in the case of "too many ICOs", doesn't that encourage more shitty/scammier ICOs? Since it's easier to go by unnoticed.

feelideb

full member

Activity: 770

Merit: 101

fLibero.financial

What a brilliant counter- thread to ' too many ICO' etc. People that believe there are to many altcoin are simply short sighted. The market value of cryptocurrency is still very small compare to market value of NYSE etc. We need as many altcoin as possible to remain competitive.

Valzador

hero member

Activity: 1316

Merit: 503

Quote from: Tambu on January 29, 2018, 06:33:08 AM

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7. Bounty campaign will be continued to progress.

The point you mentioned is true but there are still contra that is emerging of shitcoin , I've heard rumors about Theymos will make a coin or token audit team but lately reportedly has never reappeared, even though the team is very helpful if it is formed.

skelethon

newbie

Activity: 168

Merit: 0

Quote from: Tambu on January 29, 2018, 06:33:08 AM

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7. Bounty campaign will be continued to progress.

But don't you think that having too many altcoins is simply unnecessary and counter-intuitive?

At what point does it start becoming annoying and an inconvenience?

Nivelir

full member

Activity: 588

Merit: 100

Well, the most important thing is probably that the projects are developed at the expense of investments from ordinary people. That is, foreclosure invents invented tokens, but the main engine altcoins is all the same interest in the future financial system in the world. Although I'm probably too global looking at things.

Tambu

jr. member

Activity: 224

Merit: 3

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7. Bounty campaign will be continued to progress.

Topic: The reason why many altcoin is important - page 5. (Read 621 times)