Are Use-Specific Cryptocurrencies Dead?

[BitJunkie556]

Seems like a lot of coins are coming out as ERC20 tokens on the ETH chain. But head back a number of years and it seems like many use-specific coins were based on Bitcoin, Litecoin and so on and so forth.

Do you guys think these "old-school" use-specific cryptos are dead? Has there ever been an instance of a very use-specific crypto being adopted and booming in popularity just based on that characteristic?

What I'm talking about is... Suppose you want to come out with a crypto specifically for tech transactions. Let's call it "Techcoin". Would anyone adopt that? I feel like they wouldn't. See because I feel like Bitcoin for example is more appealing, not only because it was the first crypto on the block, but also because it aims to be a more generalized currency, as opposed to these use-specific coins.

Could such a coin ever succeed..?

[cryptohunter]

erc20 tokens will die. People with no skillset can launch these craps.

Use case specific tokens of course require a much larger skill set and if the use case takes off main stream it will explode.

erc20 is only popular for failed start ups that couldnt raise funds any other place than mugging off fools here to part with their btc or pointless air drops with nothing other than e placed before the name of real projects.

[WhaleSlayer]

Not really. Look at EMC2, a coin designed for supporting science, which was created in 2014 and this year has risen fom 100 satoshi range to 2000. Not exactly dead
Neither is Gridcoin, etc.

[disam]

90% of erc20 tokens will fail. EtH can be used for all of erc20 tokens purposes. The ones who will remain,  will got to have backing of strong communities.

[cryptopuma]

I think new coins are based on Eth because the price is more stable than Bitcoin,also the block size are larger than BTC correct me if i am wrong.

[TwSeventh]

use-spesific ? are you saying a standalone project based on Bitcoin core ?
of course no,
even in my opinion right now many still start using it as their own foundation for their project,
why many people built their project based on ERC20 ? because it's very easy to do other than build up standalone project.
but compared to ERC20,standalone project has a lot room to grow and of course has a bright future.
so it's very wrong to say it's dead,because people still using it in recent days

[CoinCollector006]

Seems like a lot of coins are coming out as ERC20 tokens on the ETH chain. But head back a number of years and it seems like many use-specific coins were based on Bitcoin, Litecoin and so on and so forth.

Do you guys think these "old-school" use-specific cryptos are dead? Has there ever been an instance of a very use-specific crypto being adopted and booming in popularity just based on that characteristic?

What I'm talking about is... Suppose you want to come out with a crypto specifically for tech transactions. Let's call it "Techcoin". Would anyone adopt that? I feel like they wouldn't. See because I feel like Bitcoin for example is more appealing, not only because it was the first crypto on the block, but also because it aims to be a more generalized currency, as opposed to these use-specific coins.

Could such a coin ever succeed..?

There are too many coins especially ERC-20 tokens which take no skill to create. A shakeout is in progress and many coins which seemed promising are now on the ropes and are greatest deflated from their peak July 2017 values. ArtBtye (tips for artists, models, writers, painters), Musicoin (musicians crypto), Voxels (Virtual Reality Marketplace) have been in free fall and it remains to be seen whether they are able to recover from the death spiral which takes a coin to a delisting and an eventual demise. It is my sincere hope that they survive, but its becoming increasingly clear the largest teams with the most  talented developers, healthy development funds and well thought out business models will remain standing at the end of the shakeout.

[BitJunkie556]

Some great feedback guys...

Mostly I was asking because I've been wanting to create my own cryptocurrency for a while, and planned it for a market that I don't feel has been specifically covered by a cryptocurrency yet. At least, not well. That other cryptocurrency for this space failed miserably.

I was mostly thinking a 5-10% reserve for bounties, development etc, and was thinking the rest would be mineable via something like AES like hodlcoin just as an example. Although many have advised against this because of botnets, but on the other hand, I feel like it'll be a way to at least take some power out of the hands of massive mining farms, as they typically aren't running Xeons in their rigs, but rather dual core CPU's because GPU mining isn't CPU intensive as you know.

I figured that way, anyone with any generic laptop can actually mine it, at least for a while. I do like Dash's system with a mix of masternodes and Proof of Work. But then you run into the issue of coming out with a coin that is just another fork of a more tried and true crypto. That's why I'd feel like reserving such a large amount for development because I think it would take some serious dev work to turn it into a solid crypto with its own identity.

I'm only somewhat techy, but know almost nothing about programming. But I would also like to create something useful and that would actually help the specific segment I'm looking to target. I just have to stress that I dont want to be another shitcoin, and I feel like starting with an ERC20 token through an ICO that is totally "pre-mined" and just looking to collect money, seems scammy. I'd rather the users BUILD the system themselves, rather than have to pay us money just to get in, if that makes sense?

This will obviously be several months out, but I'm just wondering on your guys thoughts? Would you have any resources for me to get started? Where I could talk to some talented and trusted devs? Things like getting onto CoinMarketCap, an exchange, etc? I'm serious about at least beginning research on this.

[Dailyroberts]

90% of erc20 tokens will fail. EtH can be used for all of erc20 tokens purposes. The ones who will remain,  will got to have backing of strong communities.

Yes, agreed. In general, 95% of the startups fails in the world. If this applies, 95% of the ERC20 tokens will fail as well. But 5% rest, will be the dominating ones in the field of blockchain generation business.

[ImHash]

Any token on ETH is for illiterate noobs, They don't have what it takes to launch a promising project, I think other than bitcoin every other coin with it's own use specific case is dead or at least is dying. Most of them are just here to grab a quick cash and never contribute anything to their supporters really.