Would There Be Enough Room in the Future for all these Digital Currencies? - page 3.

Ineedtopee

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Quote from: IndigoRed on July 02, 2018, 05:43:50 PM

The world of cryptocurrencies truly fascinates me. How can it not? I’ve never seen so many people this excited about the concept of virtual currency before. Even the dialogues in this forum are very dynamic and of course, informative (I might have picked a few tips here and there

). I know these coins have proven to be very good investments and I’ve read so many success stories already about people making a huge profit out of this.
But would there be enough space for all these ICOs and coins to co-exist? Do we need this many coins? Or are you foreseeing a future where we will be using only one virtual currency?

there won't be, there are way too many of them and not enough good products to go around so a lot of them are just going to end up dying out in the coming years. I try to make use of the opportunity that the coins present to buy the good coins now while people are still focused on buying the ones that are no good, when they start dying out, the good coins will be of even greater value than ever before.

BartS

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Quote from: KonstantinosM on September 07, 2018, 06:37:09 PM

Well, there is space for all the good ones and some of the bad ones.

A lot of the coins are cashgrabs, plain and simple. I think it only speaks to the success of the movement that there are almost 2000 coins listed on CMC (coinmarketcap).

There are coins with huge pre-mines that by all rights should have been dead.

All those coins are useful in that you can try to break the weaker networks, and other people can try to protect them, they can take different approaches to scaleability and security and features and UI/UX and we can take what we want and put it back into Bitcoin.

Take instantsend coins (Syscoin, Gincoin and others)...

That's an awesome feature that can not be easily implemented on bitcoin. But nothing stops you from trading for some instant send coins and using them for these kind of transactions while holding most of your funds in Bitcoin which is the most secure.

There's plenty of room.

I hope we make it to a million different coins some day.

As long as the coin is legitimate then that coin is always going to find support in the community, it doesn't matter if it is not the most innovative project, as long as the people behind the coin are honest developers that are trying their best there is going to be some room for that coin even if the market crashed I'm sure that such a coin will survive, but what we are seeing is that many coins are scams and when the market moves against those coins I'm sure that not a single one of those coins is going to survive.

Julunguul

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Quote from: IndigoRed on July 02, 2018, 05:43:50 PM

The world of cryptocurrencies truly fascinates me. How can it not? I’ve never seen so many people this excited about the concept of virtual currency before. Even the dialogues in this forum are very dynamic and of course, informative (I might have picked a few tips here and there

). I know these coins have proven to be very good investments and I’ve read so many success stories already about people making a huge profit out of this.
But would there be enough space for all these ICOs and coins to co-exist? Do we need this many coins? Or are you foreseeing a future where we will be using only one virtual currency?

actually we only really need very little coins, it's just that until now there are still many people who are trying to make and give birth to new coins with the functions they want. like banks, ATMs, credit cards that we use with the few types and types.

KonstantinosM

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Well, there is space for all the good ones and some of the bad ones.

A lot of the coins are cashgrabs, plain and simple. I think it only speaks to the success of the movement that there are almost 2000 coins listed on CMC (coinmarketcap).

There are coins with huge pre-mines that by all rights should have been dead.

All those coins are useful in that you can try to break the weaker networks, and other people can try to protect them, they can take different approaches to scaleability and security and features and UI/UX and we can take what we want and put it back into Bitcoin.

Take instantsend coins (Syscoin, Gincoin and others)...

That's an awesome feature that can not be easily implemented on bitcoin. But nothing stops you from trading for some instant send coins and using them for these kind of transactions while holding most of your funds in Bitcoin which is the most secure.

There's plenty of room.

I hope we make it to a million different coins some day.

bitkanu

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Quote from: roomboy85 on September 07, 2018, 06:23:45 PM

There will always be enough room for all the cryptocurrencies and also for the newcomers. Because not all the old coins will remain or be what is it now. The truth is, there will always room for the new ones because the old ones will fail or will decide not to continue their operations due to various reasons.

The Crypto is about the competition, who can try to create the product and it will be trusted by the community, so many projects don't have competence to create such a new platform. and that's why a lot of investors are loosing their faith to that. remember the only those coins are not trusted will not be trusted by the investors. So many copycats platform and that makes so many coins died.

JCO05

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Despite of the technological era, I think not all cryptos would fit due to their quantity. Morelikely, those that are useful wouldd remain and those that are having a not so timely platform would be left out. Well established cryptos would surely dominate the market in the future and we may expect that those that are not on top today, would be on the peak in the future.

roomboy85

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There will always be enough room for all the cryptocurrencies and also for the newcomers. Because not all the old coins will remain or be what is it now. The truth is, there will always room for the new ones because the old ones will fail or will decide not to continue their operations due to various reasons.

jossiel

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The crypto space for new ICOs, upcoming ICOs and current ICOs is crowded already. We don't need more coins to exist as of the moment, if the community will stay and unite to support only very few coin.

This market is going to be healthy for most of the traders and there will be large volumes for all of those existing coins. But as we can see, the support of the people is divided and we have our own preferred coins.

There's a chance that in the future, maybe 1-5 coins will remain and will be used as major coin.

crenfrosck

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This question is very easy to answer: it is impossible for all coins to reach the point where every single one of them will be self-sustainable and profitable. Just like 99,999% of companies cannot reach Apple or Amazon, most of the startups will never lead their space of interest. But I am not worried. The market can regulate itself and the best projects will have an enormous strength. On the other hand, no one says that a new one cannot beat one of the tops if they come with a more attractive solution. The only way to stay on the top will require constant updates and progress, which is great for us, potential customers Wink

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mastadonballs

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There are only more than 1 thousand cryptocurrencies on crypto market at the moment and there are more than 7 billions people in this world so I think there are so many slots left for new cryptocurrencies in this world

)). Maybe it'll be full when everyone will have their own cryptocurrency.

WonkaLuisAL

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It is rather hard to tell, who knows, maybe we can get them to an application they belong to, the thing is that the majority of those coins are just there to be listed on exchanges and get profits by just being in the market.

BartS

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Quote from: IndigoRed on July 02, 2018, 05:43:50 PM

The world of cryptocurrencies truly fascinates me. How can it not? I’ve never seen so many people this excited about the concept of virtual currency before. Even the dialogues in this forum are very dynamic and of course, informative (I might have picked a few tips here and there

). I know these coins have proven to be very good investments and I’ve read so many success stories already about people making a huge profit out of this.
But would there be enough space for all these ICOs and coins to co-exist? Do we need this many coins? Or are you foreseeing a future where we will be using only one virtual currency?

Right now we are still in the early days of cryptocurrencies, so a lot of experimentation is going on that is why we have so many coins but at some point in the future people are going to realize that it's impossible to have so many coins and I predict that at least 90% of the coins that we have today are going to completely disappear, however I do not think that we're going to have a future with only one cryptocurrency because there are other cryptocurrencies that are useful and do stuff that bitcoin cannot do.

minairia3

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Quote from: IndigoRed on July 02, 2018, 05:43:50 PM

The world of cryptocurrencies truly fascinates me. How can it not? I’ve never seen so many people this excited about the concept of virtual currency before. Even the dialogues in this forum are very dynamic and of course, informative (I might have picked a few tips here and there

). I know these coins have proven to be very good investments and I’ve read so many success stories already about people making a huge profit out of this.
But would there be enough space for all these ICOs and coins to co-exist? Do we need this many coins? Or are you foreseeing a future where we will be using only one virtual currency?

Hello paypal? This is not actually surprising as in a way this was expected but in what form or mean. The security and privacy are two of the main proposition to truly adapt to virtual currency. As well as this is not a shock at all as we are in the digital information and application age.

VeteranH

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The great majority of the enormous quatity of coins appearing these days would probably end up disappearing at some point, I think no more than 20 projects could end up succeeding.

CaMeRoNy

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I think that most of the coins worthless, and therefore is likely about 80 percent of the coins simply will not survive. If there is no demand for them, they will simply die.

Tooevilforyou

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Quote from: IndigoRed on July 02, 2018, 05:43:50 PM

The world of cryptocurrencies truly fascinates me. How can it not? I’ve never seen so many people this excited about the concept of virtual currency before. Even the dialogues in this forum are very dynamic and of course, informative (I might have picked a few tips here and there

). I know these coins have proven to be very good investments and I’ve read so many success stories already about people making a huge profit out of this.
But would there be enough space for all these ICOs and coins to co-exist? Do we need this many coins? Or are you foreseeing a future where we will be using only one virtual currency?

There certainly will not be enough room for all of them, yes we need altcoins but we really do not need this much altcoins and that is the truth. A lot of them are going to die out along the way. There will be instances of creators leaving their coins, people moving on from coins because they are useless so a bunch of them will just die out really.

Accts4u2

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There is not enough room for all of them now and I doubt that there will be enough room for all of them in the future when you think about all of the new altcoins that will be put into the market by then. That is why there will come a time where a lot of the valueless coins will die out and only the ones with products that people can actually use will remain,.

aftertumern

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I personally think that not all of these digital currencies will have enough space in the future. With the development of the cryptocurrency market, only those cryptocurrencies with "successful" ICO support will get better and better, such as Bitcoin, Ethereum, I hold them now, I believe that holding them for a long time will bring me a good return.

Noobaru

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I think only 5-10% of projects that are running now (had "successful" ICO) will be present in 1-2 year time. We actually don't need so many projects to co-exist at the same time since they are very similar (in their own respective sectors of course). The truly unique ones will prevail over others. I also don't see us using only one crypto like bitcoin. I mostly use ETH, because I think the pros outweigh the cons compared to bitcoin.

IndigoRed

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The world of cryptocurrencies truly fascinates me. How can it not? I’ve never seen so many people this excited about the concept of virtual currency before. Even the dialogues in this forum are very dynamic and of course, informative (I might have picked a few tips here and there

). I know these coins have proven to be very good investments and I’ve read so many success stories already about people making a huge profit out of this.
But would there be enough space for all these ICOs and coins to co-exist? Do we need this many coins? Or are you foreseeing a future where we will be using only one virtual currency?

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