There are so many cryptocurrencies in the market, what do they do? - page 4.

Nivia1st

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

what they do is make the market worse. dump, scam, manipulation and other things that are common in crypto. so it's no wonder that many investors leave. only about 5% of total crypto has good quality and the rest is only shitcoin. only about 5% of total crypto has good quality and the rest is only shitcoin.

jacafbiz

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Hype is just part of the life cycle of a new industry, it happens with the internet and dot.com companies when people believe all they need to do is to put their business on a website and that is all, there are some interesting projects in the space, Augur and DAI are two projects that stand out for me now because they already have working platform and many more projects are coming up with little or no hype because they are just focus on building something great for users. Forget they hype and see the real use case and you would marvel

smoolae

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You are absolutely asking the right thing. A lot of coins and tokens are fully useless and shouldn't exist at all. I think that around 70% of the coins we have today are living purely thanks to some hype they have left with collaboration with small liquidity that is still around them.

kingpin4321

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Coming from a senior member this question is quite amazing and surprising ever coin has its uses that's why most of them have white paper to direct you on the purpose and future of the coin

der_troll

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The market is currently overwhelmed with scam project and coins that are used only for pump. Be pretty careful and research each and any project deeply before you invest your own money in it. A coin should have a good circulation supply, trading volume, listed on major exchanges and have a good team.

senin

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

In general, tokens have the most diverse uses and they are very useful for humans. With the advent of cryptocurrency and blockchain technology, it became possible to unite all people on a global scale to distribute and use in a certain way any information online. The possession of such information is sometimes very expensive. Sellers and buyers unite among themselves, in general, information useful to people can be the most diverse. Therefore, you should not consider tokens useless.

cytpoway121

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I can assume that just half of the tokens in the coinmarketcap has no use case
There are so many crypto currency tolem that functions well and we have not learnt about them
Just dyor and learn more

WalterGarrison

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Research and buy. I take a part in a bounty firstly. Investigate about a project, team, and the reason they run an ICO. From the last ones is Huobi Russia. Good already working product, a lot of benefits for participiants, and a new token in my collection.

rudolfaxl

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They are exist and this is their main purpose)) Actually there are too few real projects which are useful for society. Perhaps only few top projects could be considered as valuable for community while others just do nothing. But yeah, most of them is still useful for investments and trading... somehow)

aprilnot

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

the thing they do is a dump. during this fall almost all crypto outside of rank 100 is a big dump. as you say this is just the hype after it was abandoned. becoming safer is an old coin that has a large volume

taktik

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Quote from: Elmer Grant on February 09, 2019, 01:24:07 PM

Quote from: Elmer Grant on February 09, 2019, 05:35:32 AM

And will be much more. Mosre than 95% are for nothing. They are useless. But some of them have their own usage. For exa,ple DexAge will use their token DXG as a fee. And t's good. Because it's a tokenomy.

Sorry. forget about the Huobi Russia. They also have a well creadet tokenomy and very good exchange that already running. During an ICO. It's a big plus for them. So more than sure they will also be great in a future.

perhaps for a cryptocurrency market it will be better if my number is not diminished. Then more funds from investors focus on more promising projects. And this in turn will provide an opportunity for the qualitative development of the cryptocurrency market.

Elmer Grant

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Quote from: Elmer Grant on February 09, 2019, 05:35:32 AM

And will be much more. Mosre than 95% are for nothing. They are useless. But some of them have their own usage. For exa,ple DexAge will use their token DXG as a fee. And t's good. Because it's a tokenomy.

Sorry. forget about the Huobi Russia. They also have a well creadet tokenomy and very good exchange that already running. During an ICO. It's a big plus for them. So more than sure they will also be great in a future.

satriagedhe

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some coin are make their unique function and other coin are copying from other coin to make their profit only and leave it after .

ShadowBits

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Many of them where created just to get a lot of money from investors and they promised a lot of things but in the end they turned out to be useless.

Thanasis

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Just bump and dump coins,they were created with the purpose of money making so it is not going to stay too longer or will have any real value,those coins will just go with the flow of market.

yulchatar

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Yes, indeed, now there is such a huge number of names on the cryptocurrency market which is simply amazing imagination. Creating a lot of different currencies with different names has become very easy and simple. And all this is done with one goal - to earn as much as possible.

carlosvaldes

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Quote from: Minor Miner on February 09, 2019, 03:26:02 AM

Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Yes, it is. I don't see the real use case for me except BTC and ETH. I use them to make payments between my friends and partners. Stablecoins are ok as well - they are necessary for hedging. The rest are just speculative assets, nothing more.

Many altcoins do not have any use.99% of the cryptocurrency will be zeroed in the future.And there are many speculators in this market.The speculation is very common in here, so don’t be surprised too much.

bitvalak

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

Only 20% of all cryptocurrency that actually has real evidence. The rest is just a failed project that is just left. People behind the project are also the same. Make many cryptocurrency projects for various purposes, the most important of which is usually to seize popularity for the benefit of the group.

sensay

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Quote from: Elmer Grant on February 09, 2019, 05:35:32 AM

And will be much more. Mosre than 95% are for nothing. They are useless. But some of them have their own usage. For exa,ple DexAge will use their token DXG as a fee. And t's good. Because it's a tokenomy.

DXG - exchange coin.
The main advantages of exchange coins are guaranteed liquidity and support from the sites that issue them.

Rebisco

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Quote from: eddiies on February 08, 2019, 09:35:32 PM

I have a lot of questions about the cryptocurrency market.What is the role of so many cryptocurrencies?I feel that there is no other use besides hype.

The role of most of the altcoins are for speculation. Traders are using the volatility of the altcoins for them to earn profit. There are only few altcoins that have uses in our society like Ethereum and Ripple because these two altcoins can be a mode of payment.

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