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Author Topic: Are so many cryptos good for the world? Or is it better to have only a few?  (Read 2158 times)
labwork
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February 12, 2016, 11:14:54 AM
 #41

In reality, most of alternative crypto currencies have no real use and are only being created and extremely hyped by the creators to increase their wealth and they usually fall after that (pump & dump).


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Aamir1
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February 12, 2016, 06:15:05 PM
 #42

In reality, most of alternative crypto currencies have no real use and are only being created and extremely hyped by the creators to increase their wealth and they usually fall after that (pump & dump).




Exactly, many of them are just created with the thought that they may get a value in the market but they don't, and then they just start dying because no one uses them.


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calkob
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February 12, 2016, 06:56:59 PM
 #43

I think in the next few years, there will be a few winners, and alot of losers.......
DimensionZ
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February 12, 2016, 06:59:29 PM
 #44

That Expanse coin is picking up a lot of momentum right now anyone mining this and selling for profit or holding?

CoinSkipper
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February 12, 2016, 07:19:48 PM
 #45

I saw that people created a lot of fake crypto to earn money by actions of potential users. They give crypto for example for likes on Facebook but it will have never been valuable  Smiley
xslugx
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February 16, 2016, 08:42:03 AM
 #46

I saw that people created a lot of fake crypto to earn money by actions of potential users. They give crypto for example for likes on Facebook but it will have never been valuable  Smiley

It's not fake, it's useless.
They're not fake as they do work. It's just that no one use them ^^

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February 16, 2016, 08:54:04 AM
 #47

i think it is good to have all these alternative cryptos, because it is an open source technology and everybody can copy and change the code to improve it.

besides as long as a new altcoin is created and introduces a new feature even so small, i think it is helping the technology go forward. and eventually all the bad ones would be forgotten and the good altcoins will remain and grow out to be big.

youdamushi
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February 16, 2016, 09:07:05 AM
 #48

it is obviously lways good to have multiple choices.

it would be like having paypal and another payment processor. or like different banks with different names.

as long as they all do similar things but with different perks, there should be multiple alternative to bitcoin too.

To be honest you can barely call this a choice.
Most coins aren't even working, they don't have a wallet or anything. They just exist.


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February 16, 2016, 09:12:30 AM
 #49

it is obviously lways good to have multiple choices.

it would be like having paypal and another payment processor. or like different banks with different names.

as long as they all do similar things but with different perks, there should be multiple alternative to bitcoin too.

To be honest you can barely call this a choice.
Most coins aren't even working, they don't have a wallet or anything. They just exist.
How can they even exist if you can't store them? Or well ok they exist because the code is published. But if you can't store them in a wallet you can't mine them. Means that they don't practically exist.
youdamushi
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February 16, 2016, 09:21:12 AM
 #50

it is obviously lways good to have multiple choices.

it would be like having paypal and another payment processor. or like different banks with different names.

as long as they all do similar things but with different perks, there should be multiple alternative to bitcoin too.

To be honest you can barely call this a choice.
Most coins aren't even working, they don't have a wallet or anything. They just exist.
How can they even exist if you can't store them? Or well ok they exist because the code is published. But if you can't store them in a wallet you can't mine them. Means that they don't practically exist.
That's what I mean ^^
Lot's of coins are released just for early investors, the code is published but nothing more! And they sometimes get a hell out of money from it xD


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Dogtanian
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February 16, 2016, 09:21:30 AM
 #51

I think we only really need one and one would be best in my opinion especially if we want some sort of global currency, but I believe in the free market. I believe in bitcoin as well but if something obviously better comes along that will probably get adopted. I think having all these niche coins for stupid shit is pointless and they'll likely die off over time anyway once people realize there's no real use for them so one will ed up prevailing over all (arguably bitcoin has done that already).
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February 16, 2016, 09:23:31 AM
 #52

There are only a few which can be seen as reputable crypto currencies.
Others will die in the near future.

CasioK
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February 16, 2016, 05:15:05 PM
 #53

There are only a few which can be seen as reputable crypto currencies.
Others will die in the near future.
I too do think same. That is the reason I am personally using only one Crypto Currency. That is bitcoin. But in my opinion also, most of them will never live long. Bitcoin is first and most trusted and also best crypto currency.

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Shrinath
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February 12, 2018, 11:17:53 AM
 #54

I think around 10-12 currencies are better that having 674 different currencies and it will not threaten the existence of crypto currency world. Since the day I have entered in to the world of crypto currencies, I was shocked to see the numbers of available currencies. According to Coinmarketcap website, we now have 674 crypto currencies of various types which is more than the numbers of fiat. Every now and then I am seeing a new currency is being introduced. I think this way we are harming the security of crypto currency sector. If this continues, government will have to intervene someday just to stop the free distribution of money (power) in to the society. Also I see that the total crypto currency market size is 6,823,585,068 usd as per the above mentioned website and this huge amount of money is getting divided among these 674 currencies. The more people are moving to newer currencies, the lesser amount of money is getting circulated in to the established crypto currency trading, which in turn is decreasing the price of those currencies.
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