Bitcoin Forum

I have a question. I believe in blockchain, I also believe in the potential of cryptocurrency. But I'm really confused why there has to be a new coin for everything?

Everyone likes to compare this to investing in the internet back in the 90s. But there's only one internet, yes originally there were three or four people trying develop something similar, but not an internet for everything. Why is there a coin for everything? Will there always be a gadzillion coins? Or will there come a time that one coin will rule them all?

To me it seems that all these coins are a scam and that's what scares so many investors away. Thoughts? Ideas? Opinions?

Same lol to be honest, there is no need for a coin for everything. I believe over time and regulation, all those ''shitcoins'' will fall down and only a few good coins will stay at the top.

You do mean only having 1 coin?If it does then you are talking or just simply implying that bitcoin should really be on this market but i will tell you this it is not possible for not having an alternative. Bitcoin or particular coin doesnt have the features on which can be applicable into anything and as a developer you would able to see the opportunity on making money this is why they do create other coins which are attached into other things.

in a few year there will be regulated the shitcoin ...
big regulated exchanges will be the only exchanges i think
now its the best time to be a part of the hole market.--

the number of new coins on the market is a natural thing. Everyone tries to take the opportunity to do this. New coins and old coins give us lots of options. There are only a few  that will continue to survive in this competition.

Everyone expect the new potential coin but few coins are clearly explain the road map so many investors accepting the old coins and few peoples are trying to invest in new coins.  The current market is totally collapsed so most of the peoples are drop the crypto investment but future all the coins are stable that time equal opportunity is possible.

Just like every store, it is an independent business, especially its own settlement system, and of course, there is a need for privacy. So the future cross-chain will be very common.

In my opinion, the comparison is not very good. There are so many interesting projects in different areas of our life, each of which, theoretically, can find its place. Therefore, there are many interesting coins in which you can invest

I do agree that a lot of coins are just useless ERC 20 Ethereum copies and forks from different algorithms. But still, many of the 1500+ coins circulating on Coinmarketcap are trying to solve an actual problem.

The incentives for these ERC-20 tokens have many layers. The true benefit of tokens is the impact they have on the creation of new projects, and fundraising in a global manner. A token is a representation of value, a sort of digital asset. With tokens, developers have the ability to open up their project to a global audience. Many developers have chosen this platform to kickstart their new projects.

This is what we call competition, we need better services so if the coin makes it possible one thing for sure they will succeed. Developers what to take this opportunity for a growing crypto community this is why a lot of coins are coming but of course not all of them are legit, some are just a shit coin and turns to a scam later on.

because it takes little to no effort to come up with an ERC20 tokens, and there is a lot of dumb money to scam off of the market.

I think that such a big increase in new coins is not so bad. Crypto currency is of interest to many, and it all depends on how pure the developer's intentions are. In any case, on the whole, we will have real "pearls". Only a few names.

So they make $10 mil+ with something they'd get laughed at if they approached any real investor.

Also the benefit of not actually being obliged to do anything like they would have if they started a proper company.

It doesn't, it is just the current trend to put out coins for everything. Most of them will slowly die and disappear. And here I am only talking about solid projects. Hundreds of shitcoins which are out there today will die fast and ugly. They are just made to get some money fast while it is still possible before all the regulation starts to come into crypto space.


You missed your analogy. Everybody was investing into internet companies not internet itself. Most of those companies died out but handful survived and are still market leaders. I think Amazon and yahoo were some of the examples but somebody a little older than myself could give you quite a few more :)

In my opinion the market will settle with maybe 10 super strong coins and another 100 good ones. There will also be some new small ones picking the scraps of the crypto market in their specialized fields.

People are just trying to be innovative, not every coins have the capability to hold every project. Crypto is just like our normal market, will sell what is not yet on the market. Well, totally agree that some of the coins are not quite useful but still it will help the crypto since it will bringing investors as well.

I believe a coin for each project is an opportunity.
Before this possibility I created my own "token"...but they were not decentralised...so it is better.

yeah, because to start company you need money, and in this crypto world, so called money is the coin itself, to support the company aka project. in the start of project there is ico, the investor finder lol. and thus, money can be circulated and make. the project can survive or not it's depend on the people using it's coin or not. and so, the ecosystem (community and people using it) will filter the conformity of the coin in the real world problem or not. the next part is, the coin will become top coin or shitcoin. and so, yeah, there may be a plenty of coin, but like the project itself, is it useful or not in the real world, making the coins somewhat a few but highly qualified coins.