Topic: What if all cryptocurrencies merged together? (Read 608 times)
If you are saying to merge all the currencies then it will be very difficult as many are very different in fundamentals and utility. And if buyers merge then you have to remove all other currency from the ecosystem to prompt everyone to buy one currency.
Speculation about coin merging is fine, but very unlikely to be realized in reality. It is true that the price of bitcoin will be high when all coins are combined because all coins are associated with bitcoin. But if that happens it is possible that the price on each coin remains below the bitcoin price and will not exceed the bitcoin price.
What if all cryptocurrencies merged together? Cuz if it merges, then the price of Bitcoin would pass $100,000? The market cap would be at $3 trillion dollars but what will the price be for 1 coin?
The price for 1BTC is always 1BTC. It only depends on how much someone is selling 1BTC at for a certain fiat value.Altcoins exist to prove the difference of opinion among people, they are not agreeing on everything that bitcoin has to offer but they want their own coin to fill the gaps. Therefore altcoins exist.
What you say, like merging them all, is technically and ideologically not possible, but their combined fiat value can be calculated. Such changes would not be occurring all of a sudden either.
What if all cryptocurrencies merged together? Cuz if it merges, then the price of Bitcoin would pass $100,000? The market cap would be at $3 trillion dollars but what will the price be for 1 coin?
We can say it is in the similar state, you know most of the coins are traded with BTC, they are valued out through BTC. The more coins made are, the more fiat money comes in due to new investors entering crypto. Now if those new coins are deemed to fail, either the holders convert it back to fiat or they choose better options like BTC, that is why it is possible to reach that 100k mark even no merging is occurred. We just wait for good news around the world, new investors come in and then boom, prices surge.
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Even technically it won't be possible, I am not sure for the forks though as I am not really fan of those. For price, it isn't just that easy to say that it would go by means of 100k.
From how many shitcoins are out there in the market, I have a feeling that it will bring Bitcoin down also.
I have a very different thought from the others, first I am not in favor of something like this happening, because it would be like telling the owners of all those projects to merge and stop earning everything they are earning so that it can be distributed by the Other than that, it would not come close to Bitcoin, they do not even come close to a miserable competition, because it would be new, it would be without history, we could not talk about Hodl or any other term like BTC because they would not have a life of their own, even so they manage to do something I think it would be a failure because they couldn't take down the King and the King is BITCOIN.
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There's no way all cryptocurrencies will merge together and the idea is just like telling all the world governments to merge their fiat currency into one world currency when we both know that it is impossible since some countries are governed by Marxism, while some are governed in the individualism way. The same thing happens in the crypto market every crypto creation is created with a different concept.
Meanwhile, Bitcoin will pass the $100K price but it's too early now.
Meanwhile, Bitcoin will pass the $100K price but it's too early now.
What if all cryptocurrencies merged together? Cuz if it merges, then the price of Bitcoin would pass $100,000? The market cap would be at $3 trillion dollars but what will the price be for 1 coin?
I am not sure what real sense that would make? Diversity presents a better ecosystem for new developments and that constant push and pulls that happens between projects is what drives them further. The architecture is completely different, the approaches are different, the usability is different...Even if I didn't think that it was a bad conceptual idea, I don't think it would technically be possible. And it would kinda kill the idea of decentralization in a way.
As to me the main thing is that is really anti-decentralized and that's why will never be done by crypto community. But as for technical possibility it is possible in theory by series of iterations of hardforks with integration of data from one ledger to another one. I don't see any reason in such merging and radically against it but can see a variant how technically it can be done.
I would be radically against it as well. However, imagine like one token promising very good returns if you throw your coins in there, it wouldn't get ALL the coins, but it could potential ask for all the coins, asking doesn't guarantee returns but they could at least be big. How? Well how do we do DAI?We send money in, and instead have something in return, same logic, we could have a project that accepts you paying with everything, delete all of that, and instead give you their tokens that worth the same, and then we would all try to keep that high. It wouldn't work, people would hate it like you and I would, but it could definitely be done technically speaking.
when combining all crypto into new crypto I think it needs a process of redevelopment where as we know between bitcoin and ETH alone there are different networks like water and oil in real life which are difficult to combine, it takes a long process to make it happen,
but with patience we are sure that btc will reach 100,000$ later, don't be careless and assume that btc and other crypto can be combined,
but with patience we are sure that btc will reach 100,000$ later, don't be careless and assume that btc and other crypto can be combined,
What exactly do you mean by merge? If you mean merge multiple cryptocurrency network into 1 big network, it's impossible since each network have different protocol.
That's of course true, but the idea is similar to "what if all the altcoins disappeared?"The result would be that some altcoin investors would leave the space because they're only interested in their own projects. I can't imagine someone who buys NFT's to suddenly switch to bitcoin once these are gone. This is just an example of the mentality of some altcoiners. They think their project is the best (like Roger Ver with his BCH and faketoshi with his SV) and they'd rather leave the space or start doing something else once there's no altcoins.
Anyway, price of Bitcoin would go up if that happened somehow, but the total market cap of the space would drop by a lot.
However, if it all merges into bitcoin, or just one new created coin that merges everything together, that would still be pretty bad but at the very least it wouldn't be totally gone, bit slightly better.
If its been merged then we wont really be seeing any dominances or competition yet everything would be focused on a single point and that wont be called a market i should say.
Lets just not make things complicated on things which wont really happen no matter what but i should say that having only its existence on the market doesnt mean high price or valuable.
What exactly do you mean by merge? If you mean merge multiple cryptocurrency network into 1 big network, it's impossible since each network have different protocol.
That's of course true, but the idea is similar to "what if all the altcoins disappeared?"The result would be that some altcoin investors would leave the space because they're only interested in their own projects. I can't imagine someone who buys NFT's to suddenly switch to bitcoin once these are gone. This is just an example of the mentality of some altcoiners. They think their project is the best (like Roger Ver with his BCH and faketoshi with his SV) and they'd rather leave the space or start doing something else once there's no altcoins.
Anyway, price of Bitcoin would go up if that happened somehow, but the total market cap of the space would drop by a lot.
However, if it all merges into bitcoin, or just one new created coin that merges everything together, that would still be pretty bad but at the very least it wouldn't be totally gone, bit slightly better.
I don't think it's a good thing to combine all the existing coins into one. Because everyone has their favorite coins, what is feared when combined is that they will be difficult to use. Even though these coins are difficult to control, if you are used to using these coins you will will begin to understand what the characteristics are like, even though they are not comprehensive. But the good thing that comes from merging this coin is the stronger the crypto foundation because the value of the merger will bring up fantastic prices where many people support it from many layers.
Having additional projects is beneficial, but we should focus on those that are large or moderate in size rather than those that do not contribute to the overall market value. It is far preferable to combine cryptocurrencies with significant influence over bitcoin. The price of Bitcoin could rise if demand grows and hundreds of thousands or millions of people switch to it.
Doesn't seem like a logical hypothetical. Would you combine commodities like gold and oil together? Each crypto is a single entity with an independent protocol. If you're talking about a hypothetical "if alt coins never existed" and assumed the value of every other alt coin would translate to Bitcoin, it wouldn't. Bitcoin doesn't have intrinsic value.
Indeed it doesn't. And even if we say that we all start from scratch without any crypto and just start out with a single one like bitcoin but with a different name and utility, people will still create altcoins because there will always be a specific type of people who would want another feature that the first crypto doesn't have or would want to improve some of the features it has. And there are also the profiteer type of people who would create another for the soul purpose of profit(may include ones that want both profits and contributions to innovations).
Market caps can be inflated. No use in measuring the legitimacy of a crypto currency using market cap.
I also agree with this. Nothing can save you from scams or poorly made/managed projects other than your extensive research and resourcefulness. Be it coinmarkecap, coingecko, etc., etc. While sites like coinmarkecap can help, it cannot feed you anything you need to know about a project/coin and its developers, community etc., you will still have to do some ground work yourself to really understand what you are getting yourself into.
I don't think it's technically possible at all. There are very different platforms with different consensus mechanisms, different fees structures, levels of centralization and other things like that. Not to mention that lots of altcoins are completely worthless, so if such an integration were possible, they'd greatly benefit from it, and others would suffer from it. Overall, it's just a very bizarre, confusing and very anti-decentralization idea which, luckily, will never become reality. If such a thing happened, I think there would be too many coins of a currently (the merged one), the trust would fall significantly, and the market would shrink.
As to me the main thing is that is really anti-decentralized and that's why will never be done by crypto community. But as for technical possibility it is possible in theory by series of iterations of hardforks with integration of data from one ledger to another one. I don't see any reason in such merging and radically against it but can see a variant how technically it can be done.
Doesn't seem like a logical hypothetical. Would you combine commodities like gold and oil together? Each crypto is a single entity with an independent protocol. If you're talking about a hypothetical "if alt coins never existed" and assumed the value of every other alt coin would translate to Bitcoin, it wouldn't. Bitcoin doesn't have intrinsic value.
Market caps can be inflated. No use in measuring the legitimacy of a crypto currency using market cap.
Mrketcap is a very useful metric that is used not only in cryptocurrencies but in stocks as well. It is used to create indexes, for example
Market caps can be inflated. No use in measuring the legitimacy of a crypto currency using market cap.
What if all cryptocurrencies merged together? Cuz if it merges, then the price of Bitcoin would pass $100,000? The market cap would be at $3 trillion dollars but what will the price be for 1 coin?
I don't think it's technically possible at all. There are very different platforms with different consensus mechanisms, different fees structures, levels of centralization and other things like that. Not to mention that lots of altcoins are completely worthless, so if such an integration were possible, they'd greatly benefit from it, and others would suffer from it. Overall, it's just a very bizarre, confusing and very anti-decentralization idea which, luckily, will never become reality. If such a thing happened, I think there would be too many coins of a currently (the merged one), the trust would fall significantly, and the market would shrink. What if all cryptocurrencies merged together? Cuz if it merges, then the price of Bitcoin would pass $100,000? The market cap would be at $3 trillion dollars but what will the price be for 1 coin?
By theory if all cryptocurrencies were merged together, I think the effect would be minuscule to the point that most will not even realize that such happened. Before the creation of all altcoins, Bitcoin was the first crypto that entered and introduced everything. Its fundamentals were somehow shared with other altcoins- so we can say that everything exists because of Bitcoin.
Now like what most have mentioned also, merging all cryptocurrencies into one would result to it becoming an investment opportunity for everyone where it would be at the same position when BTC was first introduced.
I'm not sure what op is trying to say here. Are you asking about what would happen if all crypto currencies merge together and become a single coin or do you mean selling others and going for just a single crypto currency which is bitcoin? For the first one, it will be utter chaos. The first reason as to why we have so many right now is because others wants a function that the other doesn't want. Like centralised and greatly decentralised to some extent. Now if you meant going all in on bitcoin, then it would mean that most of the normal people will be rid of the chance to get their hands on even some cheap satoshis. Only the rich and capable would he able to acquire any or the ones that already have been hoarding ever since. Whichever the case, none of the two would work.
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