Do we really need a lot of Cryptocurrencies?

[disbil]

I don't think so, i believe what we need is just several cryptocurrency that are fully tradeable with reasonable value of all time, I think with those limited amount of coins the value of the will be easier to be managed.

[Leyss]

We need a lot of tokens. We can say that there are not many tokens. No matter how many of them are created, the market will discard useless tokens and leave only promising ones that will be in demand. ICO projects are a very good way to improve cryptocurrency. Even despite the fact that they now have a lot of fraudulent projects, this activity is very much needed.

[kaseygriffin]

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?

There are too many industries at present and in the future there will be many ICO projects emerging. There are too many industries and in the future there will be many emerging ICO projects for those projects.
The future will no longer use paper money. The common currency may be BTC or a currency that will rise more strongly. Did you know that the prostitution industry also has a successful project. nothing is not!

[electronicash]

there are just company that created coins only to be used in their own services which its only in their own economy but just listed on coinmarketcap so its still good if you get to benefit from it. recently i saw a token SURETY which were pumped but also dumped every time, i got interested and learned the tokens can be used in their own insurance services. yes we don't need much cryptocurrencies but we also can't stop developers from creating one.

[Viper_Unleashed]

"In 1988, the UK magazine, The Economist forecast that 2018 would be the year of a new currency which they named the Phoenix. Quite a mind boggling prediction 30 years ago, especially since 2018 looks like a year when a major currency upheaval could take place…"

Now the question is that if more crypto comes in the market it will again going to be the same-rich getting richer and poor getting poorer,and that's quite natural.If whole world start transact in same currency/lesser crypto it will be less easier for all.But unfortunately that is never gonna happen.More crypto means more money laundering and tax evading .People who have already come early to the party will get some and time will tell the rest.Privacy coins like monero dash and few more will sky-rocket in few years after the present scenario gets a little stabilized.

[yndye]

there are just company that created coins only to be used in their own services which its only in their own economy but just listed on coinmarketcap so its still good if you get to benefit from it. recently i saw a token SURETY which were pumped but also dumped every time, i got interested and learned the tokens can be used in their own insurance services. yes we don't need much cryptocurrencies but we also can't stop developers from creating one.

When you say need, there is really not a need because we can still have the transactions in the old way without having to make use of blockchain technology. As for the creation of coins, there are different purposes of different coins so maybe one coin for each category would be enough but then since it is a business, there are a lot of coins to choose from depending on what kind of coin you prefer and what benefit you can get from it. We don't need that thousands of coins and eventually, we would be able to see those coins that has really a worth and others would be gone.