What if all cryptocurrencies merged together? - page 2.

coolcoinz

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Quote from: ABCbits on April 05, 2022, 07:24:23 AM

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.

riso2015

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If all crypto is combined I'm not sure this project will run smoothly, because coins have their own advantages and have their own weaknesses, if we combine we will definitely lose creative ideas, basically the more projects that run the better for us,

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Quote from: franky1 on April 05, 2022, 04:16:20 AM

no one should ever care about market cap.. or use it for any statistic.

the market cap is not a measure of anything real.
its not based on any dollars held in reserve pegged to an asset.

i can easily make a new altocin tomorrow and have a 1trillion coin pre-mine.
and then announce i only want to sell one amount of 0.01 of them coins for just $1
and with that $1 of actual usd in-use.. will create the metric/valuation of my coins market being $100trillion

i can surpass bitcoin market cap by 100x from spending just $1

i can make bitcoin look like 1% of 'crypto' and my coin look like 98% of all crypto. for just $1
so can people stop emphasising or thinking that market cap is of any significance.. because its not

This is only true for really low volume assets, which are a very specific situation

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

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Not all coins are the same, each coin will have its own mission and function.

Don't expect and hope all crypto merge together, this will kill the crypto industry as it takes away the competition and innovation of each coin. We should remember that cryptocurrencies got where they are today thanks to the fierce elimination of the market created and only really good coins can survive.

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I know the OP's point here is just that if all crypto is combined, it's just a question that can never be realized.

However, cryptocurrencies have several ecosystems that do stand alone without being able to join other ecosystems, connecting ecosystems with one another can only use a bridge.

If it can be combined and there is only 1 coin, then I guarantee that no one will be interested, because this cryptocurrency has many ecosystems and coins that provide a large volume in every transaction made. Just look at the many new innovations that have emerged with many crypto assets, if there is only 1 coin, of course there will be no other developments, only rotating on that 1 coin.

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What if all cryptocurrencies are already working together like gears in a machine. Blockchains interacting with each other to move funds around the planet. This appears to be what is happening, as Bitcoin’s largest volume use case is to purchase altcoins. A future not with one chain but hundreds all constantly moving funds back and forth is the realistic crypto future for me. There’s just too much money being held in too many different chains with too much focused development for any other scenario to play out. One might argue that will be true decentralization.

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Quote from: bakasabo on April 05, 2022, 02:43:15 AM

If you have a Ferrari that can go +300km/h, and add an engine from a Lamborghini, that can go also +300km/h, new cars engine wont go +600km/h. Same is with Renault, if you add engine parts from Renault Clio to Ferrari, it wont do same +300km/h.

Moving trading volume from alts to Bitcoin, for example, will cause a price growth in the beginning, as Bitcoin owners will try to sell their crypto more expensive, but later the price would go down and normalize. It will be sort of a pump and dump, but without hitting bottom.

I would not guess that it would go back to what it is right now, the amount of people who sell will not be as big as the people who buy. The market cap of the whole crypto world would drop, and significantly as well, but the marketcap of bitcoin would be so much higher.

There will be like a trillion that go in, and even if like half of that is gone, the other half would still be there and the price would skyrocket for sure. We will have like 500k per bitcoin price, but the total would be lower than the total crypto marketcap of right now. This is why I do not feel like it means anything, it doesn't really mean anything at all if you ask me and shouldn't even be considered a good idea. Not like it can be done anyway.

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Quote from: DanWalker on April 05, 2022, 10:05:58 AM

Never thought of it and I'm sure it never will. How do all coins merge together? each coin is created on a separate blockchain and used for different purposes. Crypto is an extremely competitive environment if your coin doesn't keep up with the trend it will soon be replaced by another so how can they consolidate.

Exactly as I thought also, some coins are built under Binance Smart Chain, some are under Ethereum chain, while some are under Cardano chain and lots more. Almost all of them have different views and aspects they considered. They have different development team therefore margin them together cannot be possible and even if it's possible it will never add to the development of cryptocurrency world.

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Which is absurd and never comes true in this space. OP, where do you think you know this market? We hear a lot about BTC but not everyone is willing to buy and hold it when the hurdle is the greatest hard-to-reach value. And the choice of altcoins is not necessarily when the solutions in the space are all implemented by altcoins. So this market is not formed and maintained by a single thing. Do not complicate a pointless problem for everyone.

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Quote from: oudomopo on April 04, 2022, 08:47:09 PM

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?

What if all fiat currencies merge together? In as much as fiat is centralised, check out how it will look like. Who will control the merged fiat? Will China allow USA manage her Yen under the proposed merger?
Take same to crypto.
Which protocol will be the consensus protocol?
Maybe the merged crypto will run on Tron or Polygon network.
What will happen to traders my brother?
There's nothing good as having an alternative.

dark1234

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Quote from: NeuroticFish on April 05, 2022, 03:51:56 AM

Quote from: PrivacyG on April 05, 2022, 03:33:17 AM

Am I getting this wrong?

Well, from what I understood, OP wanted the projects merge, not the buyers.

For all the buyers buy only Bitcoin you basically need to either convince everybody only buy bitcoin (not possible) or somehow disallow/deny existence to all the other crypto projects (also not possible).
And making "what if" calculations for things that will not happen are, sorry, pointless...

when each cake has its own recipe and method of making it we cannot make it with one concept because it will taste different even though we can sell it for one price and one currency and sometimes this difference is what makes it valuable in today's systems crypto and blockchain.
And together time bitcoin will pass $100,000, will we get it... Huh

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Quote from: Asiska02 on April 05, 2022, 03:26:30 PM

Different cryptocurrency have different method of operating, their protocols and blockchains vary from each other and can’t be compatible with each other. Besides some altcoins(shitcoins) are centralized while some are decentralized in nature hence, they can’t be merged.

Aside from that, they have totally different set of development team, who have different targets for the project. It will be a mess if all alts will be merged together. And feasibility wise, this won't happen as each project has certain objectives and they are catering a different industry. Different network, different objectives - merging is not possible. Just consider that it will be a massive number of people that will come together and that would be chaos as they have different concepts or ideas on how things can be done. And besides, most of these alts are crap projects with mere objective of pocketing money as much as they can.

Asiska02

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Different cryptocurrency have different method of operating, their protocols and blockchains vary from each other and can’t be compatible with each other. Besides some altcoins(shitcoins) are centralized while some are decentralized in nature hence, they can’t be merged.

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Quote from: oudomopo on April 04, 2022, 08:47:09 PM

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 think the scenario that you really want to discuss is what if all the altcoins disappeared instead of some sort of merge, however if that happened then I do not think the market cap will go as high as you think it will go, the market cap of most altcoins is many times lower than what you believe, however the real benefit in that scenario will come from the fact that people will not be scammed by shitcoins anymore, and as such they will invest more money in bitcoin as they will not experiment the losses and the trauma of losing their money to scammers anymore and they will have a higher trust in this market.

Stalker22

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Quote from: ABCbits on April 05, 2022, 07:24:23 AM

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.

I also do not understand what he meant by "merge all cryptocurrencies together". Maybe he meant they will all begin using a single blockchain? But I believe that would only be possible with Bitcoin clones, like BCH and BSV ...

If he, for example, wants Bitcoin to merge with the second biggest market cap altcoin right now, Ethereum, then one of those two cryptocurrencies would have to lose some of its fundamentals in order to merge. This would indirectly mean that this cryptocurrency loses its only advantage over the reference cryptocurrency, which would result in a complete loss of value. Therefore, in my opinion, one cryptocurrency will simply cease to exist but the remaining cryptocurrency will not gain in value because there will be no new fundamental values.

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Quote from: DanWalker on April 05, 2022, 10:05:58 AM

Never thought of it and I'm sure it never will. How do all coins merge together? each coin is created on a separate blockchain and used for different purposes. Crypto is an extremely competitive environment if your coin doesn't keep up with the trend it will soon be replaced by another so how can they consolidate.

And if it is possible it happened already long time ago but if let say it is possible what happens is I think the blockchain of btc will be extended and bitcoin will have different use cases other than what it have now. The money on other crypto are all going to be added to bitcoin making the value of bitcoin go to the moon. Can't imagine what it will be but maybe a 1 million dollar for each btc is now going to be a reality.

Yeah, the competition in crypto is strong. Each project is doing their best to overcome the other project and climb through the ranks but no matter how hard they try, bitcoin will always remain at the top spot. They should accept that fact.

DanWalker

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Never thought of it and I'm sure it never will. How do all coins merge together? each coin is created on a separate blockchain and used for different purposes. Crypto is an extremely competitive environment if your coin doesn't keep up with the trend it will soon be replaced by another so how can they consolidate.

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I thought it wouldn't work. Some of the main functions of them have to be removed because they conflict with each other or there is an advanced version. In addition, there is a need for consensus approval of global crypto companies given the willingness of each developers to build 1 very complex code stack.

Hyphen(-)

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Quote from: oudomopo on April 04, 2022, 08:47:09 PM

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?

Well, we have senior colleagues here who will share their various perspectives on this, but I will also say something about it.
Many investors will not have invested if all cryptocurrencies are marged together as you suggested, and the cryptocurrency community/world will have no competition, hence Bitcoin will have lost value by now.
However, the introduction of Altcoins has made crypto a topic of conversation in numerous countries around the world, as well as ensuring that Bitcoin retains its value and the trust that people have in it.

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Quote from: NeuroticFish on April 05, 2022, 02:17:19 AM

Do you know by chance that if you merge the components of a Labo and a Ferrari and make a new car you won't get anything better nor more expensive?
Well... it's kinda the same with "all cryptocurrencies merged together", just here you'd merge the Lambo with Renaults, Audis, Latas, Tata and so on...

A bit of exaggeration, in most cases the real value would be the one of those old wunderbaum air freshener that you can use in every car. Cheesy

Quote from: bakasabo on April 05, 2022, 02:43:15 AM

Perfect example. If you have a Ferrari that can go +300km/h, and add an engine from a Lamborghini, that can go also +300km/h, new cars engine wont go +600km/h. Same is with Renault, if you add engine parts from Renault Clio to Ferrari, it wont do same +300km/h.

Not really.
If Volkswagen and Toyota would merge it would mean they will sell 10 million or 10+10 million cars?
Besides, we're talking about cryptos, a few lines of code and from litecoin you make dogecoin. there is no welding involved.

Quote from: Argoo on April 05, 2022, 08:11:26 AM

There can no longer be a single cryptocurrency. As it cannot be uniform in style and type of clothes, shoes, food, cars, housing and everything else. Cryptocurrency can develop precisely due to the variety of its applications and the variety of its functions.

Different foods are used for different needs, cars and houses have different styles and sizes because of the price, clothes are for winter and summer men and women. Cryptos must dow one single thing, transfer value, everything else is just pump and dump gimmicks.
Tell me what advantage the average Joe has by using Tellor over Akropolis ?
Where, when, and in what circumstances is one better than the other?
Or rather than that, why should one use them over bitcoin at all?

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