Why creating more coins. - page 16. | Bitcointalksearch.org

fakegurutu

member

Activity: 406

Merit: 10

Quote from: Mkpez on September 11, 2018, 10:24:01 AM

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

A lot is being created because theres a competition happening or some were just envy about a certain success of some coins thats why theyre duplicating it thinking it will affect the same with them. Another thing to consider too is theres a different platform and projects being created thats why coins is also invented.

Agozyen

sr. member

Activity: 672

Merit: 252

Until the end

Quote from: Mkpez on September 11, 2018, 10:24:01 AM

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

As you say some are duplicates, however, many are outright scams designed to get people to fork over their money. Don't fall for it. Pick your projects and thoroughly research them. I've gotten to the point where I ignore pretty much any new ERC 20 token.

yinoye

full member

Activity: 532

Merit: 101

The cryptocurrency market is now very saturated with many altcoins. Though there are legit projects too among them with the aim of improving the blockchain community, many coins are also scam and spam projects with selfish purposes of making money. That is one of the prices we have to pay for the so called decentralization.

sunsilk

hero member

Activity: 3038

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Its about the competition. Those developers have seen the potential of bitcoin and they are applying what happened to it and looking forward for a better result.

Aren't you curious that each of them calling themselves that can replace bitcoin in the future and better than it. They keep on creating coins with that mindset and each of them think that this is the chance for the emerging tech to take over and their creations will be the one that will be on top.

pobeditelvezde

jr. member

Activity: 658

Merit: 1

To understand why there are so much coins you need to consider coins like shares which are traded on a stock market so a crypto coin is like a share. Generally speaking almost every company or project issues its coins instead of shares to attract investments for evolving that is why there are a lot of various coins on the crypto market and there will be issued new ones by new companies. It is a normal situation and do not forget that investing in crypto assets is a venture investment. By the way you may not pay attention on minor coins at all, shift your focus just on major coins like BTC, ETH and some other ones and do not pay attention on new minor coins.

takatonanami

newbie

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I am also wondering. Despite the fact that there are too many currencies on the market, new currencies will still emerge. There seems to be few projects solid in that.

Mkpez

newbie

Activity: 84

Merit: 0

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

Topic: Why creating more coins. - page 16. (Read 1999 times)