It's About time We Look Beyond The Digital Currency

[Adriano2010]

Is not good to have so much clones of other coins, new people and old investors will not anymore invest on this clone coins because they think will lose money on this as happen in past.

[Nivelir]

The time has really come and I think that many people are now successfully considering this matter. I think that now there are very big opportunities because the prices for cryptocurrencies have already begun a serious increase.

[palle11]

What we have experienced with the duplication of project and pushing them through icos via signature campaign, bounties, airdrops etc is what we are still facing at the moment with IEO. Every project is now going toward exchange. I think this is one challenge cryptocurrency is facing.

If we had ICO, IEO and STOs running simultaneously, then we can see the originality in cryptocurrency projects.

[FanEagle]

Yes. Just like I mostly think if we can find a cryptocurrency project with a different idea and product assigned to use the coin in exchange of the products or even to be used in a different services. No, all are just meant for extracting found and other coins or maybe they're not yet complete yet who knows.

Reading through the comments here, it shows that majority of us knows these truth about them that they are just after the money, and yet we keep wasting out funds by investing in them, how would the succeed in extracting funds from us if we don’t open our heart and funds to them.

Personally for me, I have learnt to only invest in products with UTILITY coins from a very reputable team, otherwise, if I don’t see any, then I keep investing in already existing ones, at least I will be able to check reviews of the existing ones and how far they have performed before putting my money in them for a long term investment, these projects that fails are the ones using that tactic of pushing their failures on bounty hunters and investors dumping them.

[thaliaand]

Projects with concepts that are similar or even the same as their predecessors are natural in my opinion.
The same is true for non-crypto products or existing blockchain such as e-commerce platforms. Already many similar platforms, but similar platforms continue to emerge with the uniqueness and advantages of each. Likewise, the platform and project are based on krypto or blockchain. It's about business, and all are competing to develop products that can satisfy users and benefit investors.

[Pamadar]

What we have experienced with the duplication of project and pushing them through icos via signature campaign, bounties, airdrops etc is what we are still facing at the moment with IEO. Every project is now going toward exchange. I think this is one challenge cryptocurrency is facing.

If we had ICO, IEO and STOs running simultaneously, then we can see the originality in cryptocurrency projects.

Big funded developers are willing to take the risk conducting an IEO they are willing to partnered with exchanges just to give some assurance to their supporters that they are serious with what they are offering, but it's still with investors to review and study first whether such projects already been
offered or really have a good value in the future.

[shamc]

Even at the top end of coinmarketcap we can see litecoin, bitcoincash, and bitcoinsv, all doing the same thing. Demand for them is still high even though diversity is better for investments

[justspare]

If this were to be a book, I would not mind purchasing it at any cost because it was just as if you expressed my mind completely about these projects we keep counting number on, on a daily basis, the numbers of projects coming out with their own coins is even outrageous, it has been long I have been speaking against this and it looks as if I am the only one not making sense.

I see these coins as reason why BTC is struggling to achieve the purpose it was created for, it is not a bad idea to create a viable project but why can’t they work with already existing coins like BTC or ETH, why do they have to create theirs?

If they continue this way, government will have no choice than to put an eye on cryptocurrency which might lead it being ban because virtual most projects they raised money for that would have helped the economy of each government end up getting abandoned.

[GospelCrypto2]

If they continue this way, government will have no choice than to put an eye on cryptocurrency which might lead it being ban because virtual most projects they raised money for that would have helped the economy of each government end up getting abandoned.

I feel the same way too... This proliferation the market has experienced is largely responsible for the negative impression the government have towards crypto and blockchain technology. The money that have been swallowed up in a host of crypto project which have failed to deliver any solution to the society needs is alarming. Now the co-founder of TRX has left to lunch his own blockchain startup, when he could just develop a blockchain product using readily available blockchains In the crypto-community..

[bttmember]

Yeah you are right blockchain is not about only digital currencies or crypto but the thing that matters is the revolutionary blockchain technology that will bring us new generation of web, dapps and a whole lot of decentralized platforms and ecosystems alongwith a deflationary financial system so there is a lot to look at and celebrate.

[Burogh]

Yeah you are right blockchain is not about only digital currencies or crypto but the thing that matters is the revolutionary blockchain technology that will bring us new generation of web, dapps and a whole lot of decentralized platforms and ecosystems alongwith a deflationary financial system so there is a lot to look at and celebrate.

I think digital currency different with cryptocurrency. Digital currency still controlled by central banks but not with cryptocurrency because its decentralized. In internet era, cryptocurrency will needed more because its fast and low cost

[Tipstar]

The yearly increase in amount of cryptocurrencies in existence since the advent of bitcoin has been sporadic in my opinion. Sometimes I think this growth even belittle the integrity of blockchain technology. I mean are cryptocurrencies the only special features of blockchain technology?. It's a shame today we have projects offering services that are 100% alike to others , so much proliferation of projects with similar services in the crypto-market. Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects. Majority of the blockchain projects today in my own opinion should never have existed or could have just existed as Decentralized Applications running on blockchain.

This uncontrolled proliferation of cryptocurrencies has effects on both enterprises such as the Government and major co-operations and as well investors/traders. The Governments of the world have secretly started implementing blockchain technology and tools to boost efficiencies in their operations but their stance on cryptocurrencies remain strict due to the lack of trust in the crypto market. Investors and traders are bombarded with a host of options to pick from with majority of those projects what I tag "Dead on arrival",waiting to swallow up investors funds and disappear into thin air..

In conclusion,  I think the project developers need to reconsider their options. Why must they all have dedicated currency? Why not create a project with unique usecase and implement your product to accept cryptocurrencies that are already established in the space? Why not partner with notable crypto platform and make your project a Decentralised Application (dAPP)  using the blockchain framework and currencies of the crypto platform?. I think for mass adoption of cryptocurrency to ever happen the  crypto-community needs to focus more on projects that will bring use cases that will rival what is available in the traditional system of the world than producing more cryptocurrencies with zero real life application and uniqueness. There is so much untapped potentials in blockchain technology that the world is yet to see because developers focus too much on currencies rather than use cases.

Let the market decide what it wants. This would be against the free market. And oppression to individual choices.
Every Cryptocurrency has their own motive and serving field. You can't just limit the numbers or where they be used. I could even issue a coin, if no one's want it, it would get no value but it doesn't mean it's a failure. It could be for educational propose, could be a hobby.

[Leyss]

I do not think that we need to urgently undertake something in the field of creating cryptocurrency. We do not have a single coordinating authority for the creation of cryptocurrencies and, most likely, such an authority is not needed. Even if there is duplication of projects, that's okay. Cryptocurrency market through supply and demand vseravno put everything in place. This way of developing cryptocurrency is much better than artificial intervention in this natural process.

[monalia]

Yeah you are right blockchain is not about only digital currencies or crypto but the thing that matters is the revolutionary blockchain technology that will bring us new generation of web, dapps and a whole lot of decentralized platforms and ecosystems alongwith a deflationary financial system so there is a lot to look at and celebrate.

To creates the revolutionary system for financial side blockchain technology is the biggest hope for the future, but decentralized businesses and government does not allow the developers or anyone to create the such revolution.
We need to find more people give support for blockchain technology to empower the world with great power. it will destroy all abusive powers like what we see in the world.

[Cosbycoin]

Yeah you are right blockchain is not about only digital currencies or crypto but the thing that matters is the revolutionary blockchain technology that will bring us new generation of web, dapps and a whole lot of decentralized platforms and ecosystems alongwith a deflationary financial system so there is a lot to look at and celebrate.

I think digital currency different with cryptocurrency. Digital currency still controlled by central banks but not with cryptocurrency because its decentralized. In internet era, cryptocurrency will needed more because its fast and low cost

In my opinion, digital currency and cryptocurrency are not much different. Yeah in case of digital currencies, there might be influence by the central banks but they stand next to cryptocurrency in the line with striking similarities. The purpose of the regulation is to bring both aligned but even then crypto would be something with a cult of personality and yet very different by what is produced by state.

[masterrex]

The yearly increase in amount of cryptocurrencies in existence since the advent of bitcoin has been sporadic in my opinion. Sometimes I think this growth even belittle the integrity of blockchain technology. I mean are cryptocurrencies the only special features of blockchain technology?. It's a shame today we have projects offering services that are 100% alike to others , so much proliferation of projects with similar services in the crypto-market. Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects. Majority of the blockchain projects today in my own opinion should never have existed or could have just existed as Decentralized Applications running on blockchain.

This uncontrolled proliferation of cryptocurrencies has effects on both enterprises such as the Government and major co-operations and as well investors/traders. The Governments of the world have secretly started implementing blockchain technology and tools to boost efficiencies in their operations but their stance on cryptocurrencies remain strict due to the lack of trust in the crypto market. Investors and traders are bombarded with a host of options to pick from with majority of those projects what I tag "Dead on arrival",waiting to swallow up investors funds and disappear into thin air..

In conclusion,  I think the project developers need to reconsider their options. Why must they all have dedicated currency? Why not create a project with unique usecase and implement your product to accept cryptocurrencies that are already established in the space? Why not partner with notable crypto platform and make your project a Decentralised Application (dAPP)  using the blockchain framework and currencies of the crypto platform?. I think for mass adoption of cryptocurrency to ever happen the  crypto-community needs to focus more on projects that will bring use cases that will rival what is available in the traditional system of the world than producing more cryptocurrencies with zero real life application and uniqueness. There is so much untapped potentials in blockchain technology that the world is yet to see because developers focus too much on currencies rather than use cases.

I agree with your argument but the Big question is who will implement the rules and regulation that needed! Regulating the proliferation of cryptocurrencies is very hard to do since most of the startup projects that introduce "new cryptocurrency" coin/token are scattered globally it means regulation start of the country of origin in order to be effectively control the situation.

[nutriagrigia]

Yeah you are right blockchain is not about only digital currencies or crypto but the thing that matters is the revolutionary blockchain technology that will bring us new generation of web, dapps and a whole lot of decentralized platforms and ecosystems alongwith a deflationary financial system so there is a lot to look at and celebrate.

Digital currency is just ordinary money, but not cash but the money that you have on the card. it can also can be printed by banks in an infinite number and it is even easier than cash for them

I think digital currency different with cryptocurrency. Digital currency still controlled by central banks but not with cryptocurrency because its decentralized. In internet era, cryptocurrency will needed more because its fast and low cost

[babicena14]

You are right, most projects devote very little time to the development of technology and this generates an increasing number of useless cryptocurrencies. It is better to direct forces to create decentralized applications and make one of the cryptocurrencies the main means of payment, as well as to throw all efforts to increase the network bandwidth to compete with Visa and MasterCard.