Why would there be just one cryptocurrency?

[ivanst776]

~snipped~
tl;dr
Why try and make Bitcoin do everything instead of having an ecosystem of specialized currencies?

One of the reason is the competition where more cryptocurrencies are created (invented) every week or month and we see that every altcoin is having only few differences that could make them better than bitcoin and better than other altcoins.

To be only 1 cryptocurrency is not fair like we don't like to use only 1 currency all around the world because the price could be manipulated from the main institutions or if the main people who produce the cash could print more cash then the value of that currency could drop a lot

And it could affect the whole world economy which is not good, regarding to this there are many reasons why there are so many currencies and cryptocurrencies and I personally wouldn't like the only bitcoin without other altcoins which help the bitcoin too to have the actual price and value because many people have learnt bitcoin through altcoins.

[bitllionaire]

We all know that alcoins are forcing bitcoin to keep upgrading and getting better, the problems that bitcoin is facing now if just one single coin it would had killed it or already had a solution. Altcoins are getting more and more interest over bitcoin, due to the easy to use and low and instant transactions, this is what crypto system need.

to me i think in present time thousands of crypt currencies are there, but bitcoin is the number one crypto currency, i think future there will also present thousands of crypto currencies but still the number one currency will be bitcoin. actually the number of bitcoin users are increasing as people are no now putting more and more trust on bitcoin. government are now also thinking about to make bitcoin as legal currency of the world.

[markyminer]

We all know that alcoins are forcing bitcoin to keep upgrading and getting better, the problems that bitcoin is facing now if just one single coin it would had killed it or already had a solution. Altcoins are getting more and more interest over bitcoin, due to the easy to use and low and instant transactions, this is what crypto system need.

to me i think in present time thousands of crypt currencies are there, but bitcoin is the number one crypto currency, i think future there will also present thousands of crypto currencies but still the number one currency will be bitcoin.

yes that is very right to say that bitcoin is the number one crypto currency and will remain as number one currency in future also, because the mindset of people have now changed to bitcoin and therefore they are using bitcoin for payment method.

[Shady]

From what it looks like by what you're saying other cryptocurrencies are ignored with full emphasis on Bitcoin, but in reality the connections of alt-coin economies and BTC adapt the exchange of continued use of them all.

Many cryptocurrencies are region based or enable based on similarities in technologies easing multiple coins into one web service / wallet.

The principle held holds strong value for all coins involved, eventually leading to an index across them all.

[South Park]

one crypto currency is possible if there is all country and all people is using in the same time and not depend on one currency and the most important is the internet connection. because if we only do it with offline, then its really hard to do, but with internet connection everything become possible. and for now, i think not all country have the same internet connection and this is the big problem for one community if they want to make one crypto currency. but i think it would be happen in future and we can not see this is really happen because we do not live in that future.

One crypto currencies for the whole world sounds very similar to one fiat for the whole world and that is simply not possible, different countries and different people have different needs, for example bitcoins average fee was half a dollar a few days ago, that may not be much for a person in the first world but for a person in the third world that fee is several hours of work.

[Monnt]

We all know that alcoins are forcing bitcoin to keep upgrading and getting better, the problems that bitcoin is facing now if just one single coin it would had killed it or already had a solution. Altcoins are getting more and more interest over bitcoin, due to the easy to use and low and instant transactions, this is what crypto system need.

to me i think in present time thousands of crypt currencies are there, but bitcoin is the number one crypto currency, i think future there will also present thousands of crypto currencies but still the number one currency will be bitcoin. actually the number of bitcoin users are increasing as people are no now putting more and more trust on bitcoin. government are now also thinking about to make bitcoin as legal currency of the world.

Bitcoin has been and will forever be the number one cryptocurrency out there, because it has the attention of many people and it is the highest in terms of price and investments, and I don’t think that is going to change any time soon even if the price falls down to $100, people will still believe in bitcoin.

[savioroshan]

Correct me if I'm wrong, and move me if this is the wrong board, but in my opinion we should not focus on how to make Bitcoin do everything. Right now Bitcoin works well as a store of value, digital gold if you will. A $1 transaction fee means nothing to a $1,000,000 transaction. It does however severely cripple smaller payments, something that a cryptocurrency could be very good at.

Now it is my understanding that the point of SegWit/BU is to allow Bitcoin to be used for smaller payments by bringing that transaction fee down. Instead of making Bitcoin the jack of all trades, why not have multiple cryptocurrencies that each excel in their own areas? Leave Bitcoin exactly as is, and invest money and time into establishing a micropayment currency, a smart contract currency, etc...

Just some food for though.
Johnny


tl;dr
Why try and make Bitcoin do everything instead of having an ecosystem of specialized currencies?

Who told there is only one cryptocurrency? There are so many altcoins developed for different areas. You can see now adzcoin, flash coin, prcoin etc. I understood that op is actually encouraging bitcoin community to use altcoins instead of bitcoins. But actually people will prefer to have well established coins with them .They dont want to get scammed. Bitcoin is already a well established coin.Thats why people still prefer bitcoin for everything.

[carlerha]

one crypto currency is possible if there is all country and all people is using in the same time and not depend on one currency and the most important is the internet connection. because if we only do it with offline, then its really hard to do, but with internet connection everything become possible. and for now, i think not all country have the same internet connection and this is the big problem for one community if they want to make one crypto currency. but i think it would be happen in future and we can not see this is really happen because we do not live in that future.

One crypto currencies for the whole world sounds very similar to one fiat for the whole world and that is simply not possible, different countries and different people have different needs, for example bitcoins average fee was half a dollar a few days ago, that may not be much for a person in the first world but for a person in the third world that fee is several hours of work.

i personally do not think that there will be only one crypto currency as there are already a lot of crpto currencies but still bitcoin will the the world number one currency.

[South Park]

We all know that alcoins are forcing bitcoin to keep upgrading and getting better, the problems that bitcoin is facing now if just one single coin it would had killed it or already had a solution. Altcoins are getting more and more interest over bitcoin, due to the easy to use and low and instant transactions, this is what crypto system need.

to me i think in present time thousands of crypt currencies are there, but bitcoin is the number one crypto currency, i think future there will also present thousands of crypto currencies but still the number one currency will be bitcoin. actually the number of bitcoin users are increasing as people are no now putting more and more trust on bitcoin. government are now also thinking about to make bitcoin as legal currency of the world.

Bitcoin does not need to lose its status as the first crypto currency, but to think, like some people do, that bitcoin is going to be the only cryptocurrency worth anything is a mistake, there are going to be other alts that are going to be useful for the development of our community.

[xskl0]

Bitcoin can be a store of value and  a currency choose just one function is not needed.