Bitcoin Forum

I would. Why so many cryptocurrencies should exist? Only one, and all of us would want the same coin.

Like in the real world, we have yens, euros, dollars. Imagine having only 1 currency  :o

Wouldn't it be great?

 Imagine the control the issuer of that one lone currency could exercise over the entire population of earth.  Insert maniacal laughter.

For this to happen, we need only one government and this is not possible.

Although +95% of the existing cryptocurrencies are shitcoins and scams, I would not wipe them off (in the current condition) the internet. This is the beauty of decentralization: you can create whatever you like and as long as you have supporters, your project will stay alive.

If there was a way I could magically find out with 100% accuracy which project certainly is a scam and which isn't, I would wipe them off ONLY if they are assigned to the respective category.

But if there was a way someone could delete them (CoinMarketCap could have a large influence), I guess that would also be the beginning of the respective entity's willingness to gain more power & control. And as decentralization should be exactly the opposite, it leads to a crappy ending.

So no, unless I had some crystal ball to tell me which one is a shitcoin so I could wipe it off this Universe, I wouldn't do it.

Even if I could,  I wouldn't because btc alone can not perform all functions that crypto should perform so doing this would hault the opportunity of a potential alts to be created, some alts deserve to be around because they have a good idea and have something to give even they are yet to deliver, but majority of alts needs to be wiped from existence. They are practical nuisance.

Maybe it will going to benefit the bitcoin if altcoins is going to be wipe out, since the demand of the community is just going to a one currency which is the bitcoin. Having 1 currency in the world would not be possible because we have different government  in different countries and every countries are different from the other, even when it comes to the quality of products. But maybe when it comes to digital currency one currency is going to work like bitcoin even now we know that bitcoin is the digital currency that most countries recognize.

NO, contrary to popular belief I do think that Bitcoin and every cryptocurrency/token in the crypto market  have a symbiotic relationship with all of them. Even though we have these thing called "market share" where Bitcoin is now sharing with other top altcoins I can say without these altcoins in existence Bitcoin would never reach its success on where it is now. Just think about Bitcoin being the one and only cryptocurrency and no one dared to even share or re-create the same idea on their own vision that means a new kind of payment system in the digital world has no demand and has no future. With the emergence of Litecoin and Ethereum it had shared the early success of Bitcoin being the pioneer in the market.

Feel free to send us those alts you had if you don't want them 8)

There are some features that bitcoin doesn't have and others do, and that's what it makes them unique besides the community keep supporting them till now.

Altcoin is very broad definition of any coin that is not a bitcoin. Thus, there are many coins that serve completely different purposes.

But even if you referred only to cryptocurrency altcoins, still they shouldn't be deleted. This is a free market, and that's the beauty of it. If a coin worth something it exists, if not - disappears with time.

Apart from that, different coins may have different jurisdictions, for example we see that some governments don't like privacy coins.

For fiat? Its impossible to have that single currency yet we know that each country wont definitely let that thing to happen.

For crypto? 2-5 is enough and come to think that most of them are using the same platforms which do flooded out the market and answering the question if
i would like to delete every altcoin? yes it would be much preferred but excluding to those who do have actual usage because its impossible that there
would be no other project that will patch or does have more better feature.

What would be the point of deleting every altcoin?  Think about some of the altcoins out there.  Think about how they compare to bitcoin.  First off, not all altcoins are the same thing as bitcoin.  What I mean by saying that is many different altcoins have  exact layouts of what bitcoin does.  The blockchain is open source, so you can simply copy the blockchain.  Those coins are useless and offer nothing different.  However there are some altcoins or shitcoins out there that offer something different.  Ethereum for one is not trying to be bitcoin.  It uses smart contracts and a layered blockchain that is trying to solve other issues..not the ones bitcoins are.  Andreas Antonopoulos is famous for saying he views cyrptoucurrency like langauages, it's crazy to think only one would exist.

This is the reason why a lot of alts are trying to create a possible alternative for bitcoin. With some shortcomings of bitcoin, other alts can address those features. So if for example, you are worried about your privacy, you will go to Monero, and in terms of transactions fees from one exchange to another, a lot are using doge. So it really depends on what you need for a particular situation and you will take advantage of the features of other alts so for me, quality alts should stay. Only those crap ones that are merely for the benefit of the dev should be discarded here.

Nah, It isn't great though. In order for the world to follow one currency, that needs to run with only 1 government in general. I don't think people would consider following the set of rules from a person from another country, since we all have different culture, national asset and treasury, and other matters that makes a specific country unique.

While Bitcoin on the other hand needs to make improvements like the transaction speed and the never ending concern about high transaction fees. So, people needs to create an alternative to minimize the fees and maximize the transaction speed all at the same time, and that's how alternative coins were created.

When Satoshi came up with the idea of BTCitcoin i am sure he did not anticipate thousand of shit coins popping up, if there is only one coin in the market then it would be really great, but as mentioned above if there is an innovation people will come up with up with other ideas and that would help the market in the bigger picture, the only thing i used to wonder is that what happens if Satoshi stayed longer, what would be his scaling solution and whether we will see these kind of shit shows in the crypto space.

NO, I wouldn't do it. I'm not sure Bitcoin can be stronger as now if we haven't those altcoins.
Do you think altcoins haven't an important role in crypto space? It has, altcoins make more parties have the responsibility to keep crypto space.
I can't imagine if there are no altcoins, how can Bitcoin survive alone with too many bad issues and bans from governments around the world.
I am not trying to say Bitcoin cannot survive without altcoins, but altcoins has positive impacts on the existence of Bitcoin.

No, if I could, I wouldn't because if we are going to delete many altcoins the bitcoin may suffer as well even though bitcoin is the most valuable cryptocurrency compared to all it cannot function all of what other cryptocurrency can do, even though there are many shit coins or scam coins in the virtual world I think it is not still enough reason to delete those things because as a technology user we should know which coins are scam and not, alieve that all altcoins has it's own purpose in the crypto world.
Yes, it wouldn't happen because as we all know cryptocurrency is decentralized and no government association is responsible for it.

No. All scam coins maybe, but sht coins? Nah. It's like how gold only shines if there's bronze or something you know? A genius shines if there are people below average around him. We all realize and value BTC because we all know how it is above in overall quality because of the existence of comparison towards other coins. It isn't even a matter of having a centralized notion that manages cryptos, it's all about a natural flow of nature or something similar. Besides, the existence of other cryptos besides the first one is a compliment instead. It gives us the idea that cryptocurrency is actually a good concept, hence the reason for most coins existence out there, they want to jump in the bandwagon called cryptocurrency because they know it's good.

 I'm not convinced.  Your homework is to explain the multi-country European Union's single currency in 1000 words or less.

There will be no competition if it will happen, what is good right now is that we have plenty of option on what to invest in case the other currency that we invested are not good anymore. And if there is only one currency for example only bitcoin will exist as we have deleted the other currency then we can only expect an increase and there is no decrease of bitcoin price as the demand is only pointed to bitcoin.

But in the other hand, you have a point but I am not sure if it is possible knowing that every country likes to have their own currency in which they would have a control of it that is why we have plenty of fiat.

Cryptocurrencies also evolved, maybe majority are into Bitcoin, but cryptocurrency has some many facets, so altcoin was born. Like Ethereum or XRP, which become popular as well for enterprise solutions.


Those currencies you mentioned is controlled, cryptocurrency or at least Bitcoin is decentralised.

your thinking isn't wrong, but, people have opinions, rules, goals, even different qualities. because of this, there is always a difference in the currency of each country, as well as an altcoin. however, having just one currency is good enough, it's just that it triggers a lot of other things. however, the altcoin is not only used as a currency, but has another function as a token to run certain applications.

if I prefer to delete altcoin that is not valuable. for example the project token is dead and there is no price or the price is very deep dump, then it is better to just delete it because it is not useful at all. no one wants to buy so the trading volume remains unchanged, and prices are gradually getting farther and farther away to low.

This might be not connected with this, if there is only one currency for the whole world then it is the sign of destruction, if someone might read the Bible then you know what I am talking about, but when it comes to the business side, I don't think it is healthy to have only one currency, it is still good to have options and trades won't happen if there is only one.

Why hate too much altcoin? I know its diluted already of many projects including scam but some new ones deserved to be here so I guess we should not wish that and even we can, this crypto business is not under any authority to stop or end by the community will. In my opinion, I think you wanted to dispose some useless tokens right? But the process is not easy as you wish cause what I explained above. I wanted to eradicate those scam one but not included those potential projects.

Hey chill dude ;D. I don't like most of the alts but I don't hate them either. It seems you got a bad past with altcoins huh. But kidding aside, if I have a power like that I will not delete all of them. I am not that so so rude. Good and reputable coins such as eth, ltc, xrp etc. will remain; but for the rest of sh*tcoins in the market, bye bye for them lol. They are actually useless since they are left behind after the pump and dump season.

I don't think it would be great it was not even tried on fiat and definitely not worth trying in the Cryptocurrency community, we want decentralization and we do not want controlled by whales, and besides we want an evolving technology it made us a better community when we have Ethereum Tron Waves, and coins with different algos.

It's bad idea to have one currency, Bitcoin wasn't design for some things, and Bitcoin can't do it all,  ethereum was build to introduce smart contracting on blockchain and it works, each coins have their own fields of use

I don't think that it is a great idea to remove altcoins especially they are one of the reason why there are trades that is happening. Bitcoin is not the only cryptocurrency that brings profit to us, Altcoins also gives a lot, in fact some times when we properly planned the use of altcoin, it brings more profit that Bitcoin.

First thing, no one can delete altcoins, then people would be talking about deleting bitcoin and nobody wants that except altcoin shills.

Altcoins are a good example of human stupidity and the willingness to gamble on things that they dont learn about first before investing. The reason why people entered into some altcoins is because they thought bitcoin being out of their hands they should join a new coin which is coming up and this one will also be as big as bitcoin.

At that time nobody thought what was the use case of bitcoin or any altcoin and blindly spent money buying them hoping to get rich.
The reason they still exist is the living proof that many investors can be fooled into buying shitcoins.

Then that means your choice of crypto currency being deleted too.  ;D

It is like being God with everything and it is not okay.
Having a competition is a not such a bad thing.
It enables the best crypto currency to be seen.
Look at Ethereum and Bitcoin. They are still the mostly used of all even if we are looking at so many altcoins out there which mimics them.

In my opinion it would not delete those cryptocurrencies that have a use. Now, how to identify those cryptocurrencies?

You just need to check their marketcap and product information that should solve it.  I think only 50 percent of those listed on CMC will qualify the criteria.

The rest can be removed or deleted from the market.

Many cryptocurrencies are not worthy to exist we all know but having the mindset of deleting all cryptocurrencies and being left with just 1 goes against the main idea blockchain was created which is decentralization, that is, empowering everyone to be In charge of his assets etc. In all sincerity, No, it will not be great but will be disastrous as the person in charge of the remaining crypto will have the power to do anything he wishes and no one will question him.

It would be logical to remove such coins from the CoinMarketCap rating. Otherwise, it turns out that The coinmarketcap rating itself promotes these fraudulent coins, most of which have already been abandoned by the owners. And this situation may change when the new owner of the Binance rating begins to restore order there.

One of the reasons of having cryptocurrencies is to promote a decentralized ecosystem , away from the singular control of a given entity-Government or Corporations. It brought the liberty of a community of like-minded individuals to create an ecosystem. Having a single crypto is never a healthy proposition since each ecosystem has its own unique characteristics. Also true,many coins are sheets.

Yes but only the shitcoins that has no use cases and just an additional crypto on the market.

Crypto is different in fiat currency, the reason why we have different currencies are we dont live in the same country and has different government that rules us.

On the other side altcoins are profitable as well if we invest but on top alts only it is proven worthy to invest in, so in order to spot a good altcoins, we need to delete the shitcoins.

Altcoin is there for bitcoin stability, as well as you, can you live alone without the help of others ??
bitcoin is indeed king but sometimes there is something that cannot be reached by him which must involve altcoin for sustainability.

Yes, and everyone can also sort and choose according to their individual needs, because the construction of each coin and token also has a different concept, so it is natural that each coin or token cannot do everything that exists.

Cryptocurrency is worldwide and when compared to Fiats, the world does not just have one Fiat, but many, belonging to different countries, so, if we have more than one cryptocurrency, then there is nothing bad in which. As a matter of fact, we need so many of them, so that there will be competition.
Our major concern should be how each of those coins starting fro bitcoin, will be adopted.

If I was to decide whether delete every altcoin or leave the situation as it is, I would keep all the altcoins. Because they are the history or knowledge. They demonstrate how people can be naive and believe in lies, how people invest in things that will never make them rich or will opposite - make them rich easily. Altcoins show how different can be cryptocurrency world.

Yes, having more than one cryptocurrency is definitely not a bad thing, in fact it is better than just having one, because to make things easier, we have to have everything and everything, so obviously it's not a bad thing.

The competition between various altcoins is necessary that's why we may expect opportunities to make profit so I believe it won't positive sign for crypto industry if every altcoin disappears from the market and somewhere people may loose interest in crypto if it happens which is possible only in our imagination.

Not all country have the same system, and not all coins are created equal so get that idea of one coin or one currency,  it will not be great and will be a lot of conflicts, people should get used to having many coins but always research for the right coin to invest, Bitcoin and the majority of the coins are open source, and people can always create a clone.

Why erase all the alts when it is profitable for the speculators? I disagree with your thoughts because I want the crypto market to be more diversified and investors have more choices. In addition, the manipulation will decrease because the marketcap is divided among many coins. I do not want it to focus on Bitcoin, then not the other people to admit this is a gambling game?

Talking about deleting altcoins, don't forget ethereum is also inclusive. It is not bad to have more than one coin because there must be room for competition but having so many shitcoins is the problem.

If I have the power to delete any altcoins 80% of altcoins will be gone, we have too many devs stealing from others idea most especially old altcoins, way too many same ideas, the only hope is for VZ to take down many useless coins and tokens on coinmarketcap, I hope he will do that

well, when you delete all altcoins in your wallet, there is no longer any potential for profit when the developer of altcoin, which can be said to be sleeping temporarily, because there is no development from the developer, so there is no harm if you keep it in the wallet because I don't think that's too annoying.

Definitely no . There are some altcoins which are trying to be useful and are trying to get into the field of supply chain , OT for example is one of them but yeah 95 percent are just useless.

Moreover I think every alt plays huge role in overall developing crypto world of the future. I mean most of alts are just bad experiments and we can only reach great results by testing out what works and whats not
If we delete all alts - we'll lose track of our past experience so that would be a huge leap backwards in terms of crypto industry growth

If I could sounds impossible anyway, the only thing we can do is makes bad altcoins looks very ridiculous in front of newbies that might fall victim to them, starting from bad exchanges with fake volume and down to fake and pump and dump altcoins, damn they are too many on coinmarketcap

I technically dont understand why some people wanted to delete or vaporized these altcoins? Actually we should be grateful to them cause they add some value on the overall marketcap of cryptocurrency. I think you hate so much scam projects that failed to pay bounty hunters right? Too bad that you include some good projects on your general wish. However, there are people with different point of view when it comes to this. Just like me, its fine for me with these altcoins as long as they are useful and can contribute to the good of the blockchain industry. Dont be so judgeful with all the projects out there especially the altcoins, some of them were hidden gem and likely to create a well versed platform.

when there is altcoin which is really useless then you can leave it without having to throw it away because it will make you regret someday, but if you want to throw it away then you can burn it to 0x0000000000000000000000000000000000000000 (https://etherscan.io/address/0x0000000000000000000000000000000000000000) you just need to send it to the wallet then it will definitely disappear and burned because the wallet as long as I don't have the owner and imagine how many tokens are there but have a high exchange value and a very large estimate of money.

Whats wrong with having altcoins (besides those shit coins and other clone cones)? Why is it bothering you? If all altcoins get "deleted" and everyone jumps into bitcoin, do you really think the whole network can handle it? Think about those confirmation waiting times. Think about those advantageous features some altcoins have over bitcoin.
All I can imagine is that its going to be really bad if there is only 1 alt coin.

They keep reproducing so deleting them one by one is going to be a hard job. They're already here and accepting them but with your choice of using them is up to you.
I have thought of this before and there's the what if most of the market cap from altcoins goes to bitcoin, then that's a sure bullish turn.

What i want already done by exchanges, they delisted coins that not good, dead, broken, etc. If i have power to do it, maybe i will let community delisted it by themself because what we want, people want is profit from a coin.

It would not. There was a lot of reasons even for the fiat country whey they must have their own currency. If someone controlled it and it will be manipulated automatically.

The fact that so many cryptocurrencies exist with a different purpose. Smartcontract also brought a huge adoption for crypto too. Any crypto that came with an innovative idea has its own role.

I definitely wouldn't delete EVERY altcoins.

I would delete around 99% of them sure, but I feel like we still need a few in particular;

- Ethereum
- Monero
- Tron
- Binance Coin
- Several stablecoins

Other than these, and perhaps a few more, I'd wipe the lot of them! They're all leeches that dilute the market cap and make mass adoption more difficult.

Some would like to delete it would be people who had invested in wrong coins or ta wrong time and had taken a loss due to which would like to forget that as an nightmare. I hope when the prices are falling people do invest in such times and not at high as this will help them make money when it rises.

Of course not. Otherwise, the whole idea of ​​cryptocurrencies - decentralization - will be destroyed. And yes, I also don't like that there are many scam cryptocoins. But destroying all projects is a barbaric idea that fortunately cannot be realized.

Having only one currency? ??? If you’re talking about cryptocurrency, that would be great, but in the case of the real world, that would be a really bad idea and is not going to work. It’s not even possible for the whole world to make use of one currency, because we don’t have the same government. But in the case cryptocurrency, I would be happy if there is only Bitcoin and no other cryptocurrencies. To be sincere, these other cryptocurrencies in the market are quite annoying.

Almost everyday that I go online I would see people talking about creating their own cryptocurrency. The worst part is that it is now becoming really annoying, because it’s not only just businesses but even celebrities now want to have their coins, and these coins end up heading nowhere and being completely useless.

of course I will only take part in investments with one coin that is truly real and profitable for investment. but if it exists. but the problem out there is that there are thousands of crypto currencies and I think investors also have different tastes.

we don't need to imagine it, we already have Bitcoin as the world's currency that people want,
I'm sure Bitcoin will be one of the currencies, but we know that Yuan and USD are the rulers, therefore it takes time to be perfect

One currency idea will not be okay as long as cryptocurency is concerned . We just quality ones to remain and do whatever they propose to do in real life to help humanity.