Topic: What's the point of so many cryptocurrencies? - page 7. (Read 2094 times)
Most of the cryptocurrencies that can be found existent on the market and different exchanges are being listed and came from lots of projects that have existed years before most specially when the hype of projects are still on way back year 2017 that there are really lots of projects that have released many crypto coins and they are still existing and maybe others are not already because it might be they are scam or haven't reach that capacity to get listed due to lots of issue involve. There are not actual purpose on why there are lots of cryptocurrencies existing because those were just products of projects initiating some sort of development, different purposes and etc. Maybe some are useful and can be use to scatter your resources for chances of gaining profits aside from Bitcoin. But you have to be picky and assure you are working with decent and reliable coins because not all are good or worthy.
Money out of thin air. Most projects make money out of thin air by creating a product that no one needs and then collecting money for its implementation.
As a result, people buy useless tokens that no one needs in the future.
It's a shame if the project creates a product that isn't even needed and I think it's a waste of time,As a result, people buy useless tokens that no one needs in the future.
a project should have a clear concept because it can attract people's attention to join the project
for most creators, it is not a shame because it is easy money for them - create, launch, pumpndump, repeat...guess, a lot of 'devs' are still doing that. we dont need a lot of trash coins but the thing is, people keep on buying them. even if it is obvious that they are just a crap project. they just wanted to ride the hype, just look at the defi hype. how many of them have real use case? a lot of them already exited the stage. now, it is left to us how we will approach these projects. research is not enough anymore. you have to dig more and more...
Money out of thin air. Most projects make money out of thin air by creating a product that no one needs and then collecting money for its implementation.
As a result, people buy useless tokens that no one needs in the future.
As a result, people buy useless tokens that no one needs in the future.
I think there's this Chinese wise saying that says "greed, will kill us all"
I always believed Bitcoin to be enough... All other crypto is just a wanna be...
But another way... Competition in the market place is good.... I would love my Bitcoin with a touch of ethereum and a dab of litecoin.... Lmao
I always believed Bitcoin to be enough... All other crypto is just a wanna be...
But another way... Competition in the market place is good.... I would love my Bitcoin with a touch of ethereum and a dab of litecoin.... Lmao
Imagine if there are no altcoins in this crypto world and only bitcoin is the only coin that exist do you think bitcoin will succeed? I believe altcoins serve as a pillar of bitcoin without altcoins bitcoin is nothing. Yes true there are many scam altcoins outhere and we need to be careful because their purpose is only to collect or steal bitcoins or money from investors and only few legit great projects that needed to be dig with proper research to find these few gems.
bitcoin can exist fine without any altcoins at all......
Yeah your right but you can stop those people who would create another one which is way more better than Bitcoin and believe that they can get off some marketshare and
it did really succeed basing of on how many top altcoins we do have with some crazy marketcap overall.
There is no need for lots of coins or projects in the market indeed since Bitcoin do able to do its job well. Well, theres no backing down now and it had already been done.
Thing here is that you do know how to engage to those alts with the benefit of yours on making profits but of course that would really be needing some risk.
Well, you can not judge which coins have the right to exist, and which do not. Of course, there are old coins on old builds, but they will disappear along with the exchange. But sometimes some of the coins can show themselves well, which already gives them the right to exist.
Obviously most of the coins are junk. Take a look at the crypto market, is this exactly what it should be? Continuous speculation on prices, each project strives not to develop the industry, but to be in the top in terms of capitalization and price. In the future, the industry will be represented by projects that really change the way of life of people, and not numbers on monitors.
They are copying the idea from ether.
There is practically nothing new in the world. All projects, not only cryptocurrency ones, copy each other, improving and refining the functionality. All artists and musicians to one degree or another copy each other, introducing something new into their work that makes it unique. It is impossible to say unequivocally that everyone copies everyone without changes, it would be silly.
Imagine if there are no altcoins in this crypto world and only bitcoin is the only coin that exist do you think bitcoin will succeed? I believe altcoins serve as a pillar of bitcoin without altcoins bitcoin is nothing. Yes true there are many scam altcoins outhere and we need to be careful because their purpose is only to collect or steal bitcoins or money from investors and only few legit great projects that needed to be dig with proper research to find these few gems.
bitcoin can exist fine without any altcoins at all......
Economic and financial power decentralization is the main idea of cryptocurrency, but there are other points of view on this topic. So another analysis is the variety of transaction and blockchain options for the sympathizer and investor, generating fluidity so as not to overload the ecosystem as a whole. In general there are many projects that can add people's lives and we know that bitcoin is becoming scarce with each passing day.
Some old projects with brilliant ideas failed because of few mistakes and new developers can decide to continue such project in a new form, they actually know what they will face in the project development because of the old project that failed, knowledge is unlimited, crypto still lacks in so many areas, new ideas have to be born
In my opinion, altcoins are basically crowdfunding tokens and coins designed to get money from investors of that project. Cryptocurrency is basically a one huge crowdfunding platform where programmers will be able to make something out of a little nothing. Create a code and you will be able to fund your project using your coin, as long as you market your project well and be able to entice people to invest.
Well, you can not judge which coins have the right to exist, and which do not. Of course, there are old coins on old builds, but they will disappear along with the exchange. But sometimes some of the coins can show themselves well, which already gives them the right to exist.
Only on coinmarketcap are listed 8200 coins. It is too much. And it is difficult to choose the right coin for investment.
For me the most important how useful the coin will be in future to create demand in the coin that price of the coin will grow in future.
Now appear the projects that help to protect the land from pollution. Here is a link https://moss.earth/blog
The demand in earth protection will increase with every year.
Hi,
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
Each of the coin have their own purpose they can be used in different ways, banking, investment, communication and more. This shows that blockchain and cryptocurrency can be used in different ways this is how powerful it is.
Hi,
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
Just count the Legit mate and trash the shits , Many cryptocurrencies maybe useful in future because the demand will spike once the adoption happens but what are we looking nowI was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
are too much shitcoins .
and almost more than Half has no promising value at all.
There's no forcing us to buy all these coins but instead it might stimulate us to pick the best coin there is considering so many alternatives I mean having this much alternative is better than having none right? and each of these coins want to solve certian problems which arise now or in the future. The bad coins will have no growth and low trading volume due to various factors in which these projects are lacking and the good ones gonna go up it's natural selection all over again but by then we are left with quality coins that still exists and even growing.
Hi,
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
As you can see not all the cryptocurrency have the same use, each of the coins have their own dedicated use such as security coin, utility coin, etc. that's why it is important that you have a product first before offering your coin since buying a coin without any use is buying a worthless coin.I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
An example, BNB can be used on their website Ethereum in smart contracts and many more.
Majority of the coins are bad projects like many already said but the reason why I'm not so against many coins is ideas, ideas are unlimited and we can find great ideas from a bad projects too, hate it or love it bad projects can shed new light on new projects as well
Hi,
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
In fact, there are much more of them, I just looked at coingecko and their 6132, there are many reasons for this, the developers want to launch a new project to implement their ideas, and there are also scammers who launch projects to deceive users
The more new ideas erupts the more we will keep seeing new crypto projects, I hate the idea of too many crypto projects but even the best crypto projects we have aren't perfect so it's better to leave the door open to new ideas
Hi,
I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
Because Dev's wants to have their own crypto and be the best on their field.I was browsing about 50 pages here https://www.blockchain.com/prices?page=50 then I gave up and googled it...there are more than 2000 cryptocurrencies!
Why?
The fiat tends to reduce thanks to EUR, what's the purpose of so many cryptos?
thanks
Every crypto have their own function and purpose so every developers wants to create the best and overcome the one's that is already there.
Each crypto usually serves their founder vision and purpose and we fancy open source community when it gives freedom for people to hardfork every crypto there as their will. These many cryptocurrencies are overwhelming indeed but you can just ignore them and stick to those coins that you really want to invest or just to observe.
It's like you know the startup fever, everyone want to create startup and i bet there's hundred thousands startups created out there and for the most part you can just ignore them and just observe what interest you.
It's like you know the startup fever, everyone want to create startup and i bet there's hundred thousands startups created out there and for the most part you can just ignore them and just observe what interest you.
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