Topic: Why so many (Read 1999 times)
most coins are just trash
everybody want to make quick money
1 - especulative currencies hoping for be the next coin to gain some 100x in value
2 - pump and dump currencies
3 - currencies that adds more features to the original bitcoin protocol
2 - pump and dump currencies
3 - currencies that adds more features to the original bitcoin protocol
My opinion is there will be couple of currencies (3, 4 or 5 max), others will die eventually. So 1st is Bitcoin, 2nd is Litecoin, other places are less known...time will show.
Agreed, I think there will be a small handful in a few years time, if not less. However I think people will be surprised about which ones survive that long and become widely used. There are a few new currencies that are very promising and in many ways better than bitcoin and litecoin. The vast majority of coins though, are absolutely worthless. A good way to find out which ones to trust is to find ones that have active devs that know what they're doing, an active community, and innovations (new way to distribute, companies like Karmashares, etc). If it looks like a slightly different version of an existing coin, don't even waste your time. 
It has indeed.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
I think that for Dogecoin, there is a limit of 100 billion. That might be even worse than the Zimbabwean Dollar.
For now, I'll stick with Bitcoin (21 million cap) and Litecoin (84 million cap).
I don't see the problem with the amount of coins dogecoin has.
People are already complaining that the value of bitcoin is not rising more because of the price per 1 btc so we should switch to millibitcoin.
That will make 21 billions millibitcoin in circulation and even that might not be enough.
The only way to stop this clone-coin nonsense is if everyone would just stop mining new crap coins.
It has indeed.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
I think that for Dogecoin, there is a limit of 100 billion. That might be even worse than the Zimbabwean Dollar.
For now, I'll stick with Bitcoin (21 million cap) and Litecoin (84 million cap).
I hope Dogecoin will lower their limit and market cap higher.
AFAIK, dogecoin has no cap at all.
https://bitcointalksearch.org/topic/anndoge-dogecoin-very-currency-many-coin-v1100-361813
Block 1-100,000: 0-1,000,000 DogeCoin Reward
Block 100,001 — 200,000: 0-500,000 DogeCoin Reward
Block 200,001 — 300,000: 0-250,000 DogeCoin Reward
Block 300,001 — 400,000: 0-125,000 DogeCoin Reward
Block 400,001 — 500,000: 0-62,500 DogeCoin Reward
Block 500,001 - 600,000: 0-31,250 DogeCoin Reward
Block 600,000+: 10,000 DogeCoin Reward
It has indeed.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
I think that for Dogecoin, there is a limit of 100 billion. That might be even worse than the Zimbabwean Dollar.
For now, I'll stick with Bitcoin (21 million cap) and Litecoin (84 million cap).
I hope Dogecoin will lower their limit and market cap higher.
It has indeed.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
I think that for Dogecoin, there is a limit of 100 billion. That might be even worse than the Zimbabwean Dollar.
For now, I'll stick with Bitcoin (21 million cap) and Litecoin (84 million cap).
the reason there are so many is because anyone can make them and they want a cut of the "digital currencies" pie that is all.
That's true, I should also start thinking about creating my own altcoins as well
First post. Looking forward to the new digital economy!
I've been reading a lot about cryptocurrencies recently (and researching them). I was wondering why there are so many? Do they all have individual uses? Are they all geographic in nature? There seems to be more than is required for a cybereconomy.
I've been reading a lot about cryptocurrencies recently (and researching them). I was wondering why there are so many? Do they all have individual uses? Are they all geographic in nature? There seems to be more than is required for a cybereconomy.
Lots of cryptocurrencies out there? I think because there is no restriction or limit for creating their own cryptocurrencies. it is also a trend so a lot would want to have their own especially those who can or have the resources.
Anyone can create a new "alt-coin" based on bitcoin. And it seems they all do. 
I would highly recommend staying way clear of any alt coins until you completely understand bitcoin.
I would highly recommend staying way clear of any alt coins until you completely understand bitcoin.
I guess the opensource nature of bitcoin has some drawbacks.
It has indeed.
There are only 21 000 000 BTC but there can be 21 billions alt coins.
So in a way we're going back to the fiat printing machine.
I guess the opensource nature of bitcoin has some drawbacks.
Yes... right now there are too many alt-coins around. But remember that almost all of them are pump-and-dump type, so never invest any money in them. The only coins to be taken seriously are Bitcoin and Litecoin. (May be Namecoin also).
I've been reading a lot about cryptocurrencies recently (and researching them). I was wondering why there are so many?
Welcome to the world of pumping & dumping
everybody wants a piece of cake
the same reason why there is so many everything, everyone wants to make their own because they see the other one looks good
it's the real world migrated into alt coins
it's the real world migrated into alt coins
the reason there are so many is because anyone can make them and they want a cut of the "digital currencies" pie that is all.
That's true, I should also start thinking about creating my own altcoins as well
the reason there are so many is because anyone can make them and they want a cut of the "digital currencies" pie that is all.
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