What cryptocurriencies do we really need?

[chainese]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

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[alani123]

We don't really need all that many. I believe that every altcoin will go though massive devaluation once side chains for bitcoin are established and tested throughout.

[batang_bitcoin]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

Welcome to the forum, be used to the generation of ICOs/token's/ alt coins because they have the same purpose and that is just to earn from their own projects.

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

If they are not trolling around, they really doesn't have any contribution to the whole cryptocurrency market. That's why we have does coins that are called shit.

We don't really need all that many.

True.

[TheCoinFinder]

So you actually want to create you own cryptocurrency without any additional value on blockchain?
I just have been in such thread a minute ago but due to time restriction, i can't get back to services section.
You can find link to thread you are looking for in 3rd page of services board.

[DaMut]

welcome to this forum.
and why would the create another coin,and do we really need it ?
because they want to do something and earn from it,no we do not need it at all.
the only thing that we should know is,no matter what is it and will it be.it will never replace Bitcoin,
they're called alternative coin,which mean it's an alternative way to get and earn Bitcoin.
no matter what project it will be,they're only have 1 goal.that is to get Bitcoin from it.
just take a look at our ICOs.
they're creating an unique projects,but what they need in return ?
we need to buy it using Bitcoin,they said it'll be used for them as a fund for their project.

in conclusion,we do not need it at all.
and they created it just for fun or get bitcoin.
case closed

[chainese]

So you actually want to create you own cryptocurrency without any additional value on blockchain?
I just have been in such thread a minute ago but due to time restriction, i can't get back to services section.
You can find link to thread you are looking for in 3rd page of services board.

Ahah, no. Why did you decide I want to create a new one with no value? I would rather want to stop people doing bullshit.

[BitcoinHodler]

they are not really creating new "cryptocurrencies". they are creating tokens that can be traded for a little while. and it is all about the money. it is pretty easy to create a new altcoin, you just have to know some basics of programming and some experience of what to change. then you can simply take some code (all are open source) and make your own altcoin. add it to a pool and an exchange, advertise and profit.

although it sounds easy, it is not profitable as you may think. because shitcoins these days are not capable of gaining much value.

[DaedRik3]

BTC is the first, the most stable, the most known. It will always be the main digital currency. Others are just little players trying to take a part of the cake by loud adverts.

[Adbitco]

Honestly speaking it's like an easy money making method or an opportunity which everyone wants to exploit to get rich with otherwise most of these cryptocurrencies don't really have any value. A true cryptocurrency in my opinion would be which has a large community of supporters, easy to use, fast, decentralized and reliable. Bitcoin seems to be close to that at the moment but there might come a better one in the future which is globally accepted and backed by some real value.

[Renji Abarai]

BTC is the first, the most stable, the most known. It will always be the main digital currency. Others are just little players trying to take a part of the cake by loud adverts.

There are many flavors of cryptocurrency I mean there are many kinds of it and it depends on your choice. The  most popular is bitcoin and it serves us very  well as a truly digital currency. Due to its wide  adoption, bitcoin is widely use and with bitcoin I think it is enough. But since there are other options (altcoins), on different purposes like the Ethereum that is good for shares, you can choose what you like.

[xuan87]

I do really agree, most of the coins that being created offer nonsense, nothing new just repeated feature with weak development, we need a crypto that is different from other coins, that is the coin that has a chance to survive, for now we got too many coins, this situation will kill the potential alt coin

[chainese]

welcome to this forum.
and why would the create another coin,and do we really need it ?
because they want to do something and earn from it,no we do not need it at all.
the only thing that we should know is,no matter what is it and will it be.it will never replace Bitcoin,
they're called alternative coin,which mean it's an alternative way to get and earn Bitcoin.
no matter what project it will be,they're only have 1 goal.that is to get Bitcoin from it.
just take a look at our ICOs.
they're creating an unique projects,but what they need in return ?
we need to buy it using Bitcoin,they said it'll be used for them as a fund for their project.

in conclusion,we do not need it at all.
and they created it just for fun or get bitcoin.
case closed

Thanks! Good observation, will think about it. So does it mean that Bitcoin is very strong in long term?

[DaMut]

Of course,
Cryptocurrency exist because of Bitcoin itself,if Bitcoin lose its value.
there will be no more cryptocurrency,and every altcoins will be died in the future.
Bitcoin still has a lot of room to grow and it has not implemented yet.
right now many countries trying to figure it out how to regulate it,
slowly we can see it,like right now Japanese regulated their exchanger.
and chinese will do so.

so if you are asking about long run ?
i am absolutely sure it still has a potential in the price and its usability

[squatz1]

Well to be honest and outright, we really don't need any other cryptocurrencies. I think the reason that we have so many is due to greed, people simply want money. And one of the paths to money in  Crypto is to make a coin, generate hype around it, (premine as well) and then go ahead and sell this coin for whatever you can pull together.

I would say we could be fine with just BITCOIN, though it is alright to have something like 10 if these are really trying to go ahead and change thing. As changes in other coins could promote change in BItcoin itself through innovation.

[Barcode_]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

Why are there so many altcoins out in the market but they only offers the technology which are about the same as others, it is simple, because it is an easy way to crowdfund funds for their companies on new projects, by launching an ICO, it is easier to reach out to more users and it provides the company an easy solution to collect funds into their wallet.

[green547]

It's all about the money and there are way too many different coins at the moment.  Some of these are going to crash heavily.  The market can't support thousands of different cryptos.

[Maveth13]

There are very few cryptocurrencies that actually had something to offer and successful, an example is ethereum. Ethereum was created to make it easy for developers to make smart contracts. Now, that technology is being used to make loads of other coins with specific purposes trying to be unique to each other. Ranging from trading, gambling, medicine, gaming and a lot more, even for adult content. All because of one reason, quick profit. Few every now and then is ok, but now, ICOs are just everywhere.

[Almat]

Bitcoins are here to stay, so we're going to need that for sure.

Ethereum has a lot of potential, and is also likely going to stay, unless some other crypto is able to find a way to implement smart contracts better.

Litecoin is the silver to Bitcoin's gold. I like Litecoins as a currency, with low fees and fast transaction times, but it's unfortunately quite redundant. It could still very well exist alongside Bitcoin though.

[pinkflower]

Honestly speaking it's like an easy money making method or an opportunity which everyone wants to exploit to get rich with otherwise most of these cryptocurrencies don't really have any value. A true cryptocurrency in my opinion would be which has a large community of supporters, easy to use, fast, decentralized and reliable. Bitcoin seems to be close to that at the moment but there might come a better one in the future which is globally accepted and backed by some real value.

Its not just a money making method but a BTC making method. Thats an important distinction. All those altcoins and tokens are usually converted to BTC in time by their owners because its really BTC they want.

Unique cryptocurrencies that bring something new are too few and far between.

[Lm2e4]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

I think it is all about competition, some are creating new currencies because they want to go on top on others, but we don't really need all of those. I believe one should stay stronger after all has been made, and that one should be the one that we really need. The one that will save us from everything.

[Mr.Mittelman]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

I think it is all about competition, some are creating new currencies because they want to go on top on others, but we don't really need all of those. I believe one should stay stronger after all has been made, and that one should be the one that we really need. The one that will save us from everything.

I agree. The trick is about competition. By creating just another coin you help all the cryptoeconomy system to evolve. Most of existing cryptocurrencies will be dead, but this is good for cryptoeconomy.

[Greattoken]

Yes, we don't really need another one. But if to answer abstractly, to imagine, it would be freely convertible, with own quick wallet with all the amenities like cold access type and 2F, with better opportunities for mining and a worthy overall project goal.

[mrcash02]

Crypto-Currency gives the right to anyone create their own currency if they want. People are free to create their currencies and to use any currency they want. Some developers are newbies and want to practice their skills, others want to create a currency they can use among a friend's network... Everyone has their own reasons to create their own currencies. But for most people almost all of these currencies aren't necessary.

It will depend what is your reason to be on Crypto-Currency world. For an example, BTC holders only need BTC, traders need more currencies to make their operations, buyers/sellers may need some main AltCoins to transact while BTC network is overloaded...

[mobnepal]

Most of the coins developed are just copy cat of already existing coin and the one behind the project will hold large amount of those coin to dump on peak price when listed.

ETH based tokens were created to identify their Investors, its like certificate of company share and through smart contract they can pay divided to all their token holders.

[sneakgeekzog]

Bitcoin, Ethereum and Litecoin is sufficient. I also Like Steem and Steemit for fast zero fee transactions.

[leonair]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

It is just this, when there is a store near you that sells a shoes and your neighborhood sees it as a great business then suddenly after a week they build up their own shoe store near by your house, look at the shoe store as a cryptocurrency coin here and look at this stores like Bitcoin and Ethereum, they are both cryptocurrency but they offer different kind of platforms and protocols even though they are both using blockchain(this is the shoe for example) technology as their ledger.

[reflector]

Most of the coins developed are just copy cat of already existing coin and the one behind the project will hold large amount of those coin to dump on peak price when listed.

ETH based tokens were created to identify their Investors, its like certificate of company share and through smart contract they can pay divided to all their token holders.

Token sale purchase is also best to go but the you have to safe to research more about the whitepaper release before invest to it. I would go with the bitcoin or eth only always.
That would give the better profit without investing as business like just buying the bitcoins or ethreum. I don't how source coding is been shared.

[chainese]

Crypto-Currency gives the right to anyone create their own currency if they want. People are free to create their currencies and to use any currency they want. Some developers are newbies and want to practice their skills, others want to create a currency they can use among a friend's network... Everyone has their own reasons to create their own currencies. But for most people almost all of these currencies aren't necessary.

It will depend what is your reason to be on Crypto-Currency world. For an example, BTC holders only need BTC, traders need more currencies to make their operations, buyers/sellers may need some main AltCoins to transact while BTC network is overloaded...

That's good observation, thank you. It helps to understand why sometimes people just do something for itself.

[chainese]

Yes, we don't really need another one. But if to answer abstractly, to imagine, it would be freely convertible, with own quick wallet with all the amenities like cold access type and 2F, with better opportunities for mining and a worthy overall project goal.

I meant from existing ones, but your interpretation of the question is even better. I meant amongst existing ones, but your interpretation of the question is even better.

[DarkSi]

Blockchain is changing the meaning of 'currency'. This is the ability for you to create your own currency that will meet your business needs just perfectly. It can be simplified to the following example.

Imagine your parents own a farm. Ordinary farm with cows and plants, no Ethereum mining. The farm provides milk and vegetables to several shops in a nearest city. Shops sell it to the citizens. Bank helps them all to keep money safe: parents, shop owners, and citizens almost don't care about their bank accounts, they just work to know they have money. Everyone glad to be assured that nobody can steal money or don't pay a debt. Bank fixes and invest money to provide its services and generate own revenue. Bank provides government with all the data about payments to allow it charge taxes properly. Banking service is a pretty hard job and it costs money. Now imagine a different picture.

Your parents create own currency their bank doesn't support. But that's okay since the new currency doesn't need to be supported as the previous kind of currency. It fixes and keep all the transactions safe automatically. Government could have an access to it just like by the link from your parents. Your parents currency is not better than Bitcoin, it could be even a bit worse. But if all the business needs of your parents and those several shops satisfied, the business could work.

Automated systems have lower costs. So your parents can cut prices or just earn more money for you and your little sister.

In short, new cryptocurrencies make financial ecosystem better for people's daily life.

[yusuf98]

not easy to make something new. it's easier to change something that exists into something new on the basis of the existing blockchain.

[tsaroz]

We'll be needing just a few coin which will sort them out within some years, the Top 10 in price gives a good image yet they can change rapidly in this primitive time.

[sweerty1]

I think coins we need: bitcoin, ethereum, litecoin, waves, stratis, nem and 1 anon coin. Not so many. There are lot other coins solving problems but these coins are currently the best ever.

[chainese]

Blockchain is changing the meaning of 'currency'. This is the ability for you to create your own currency that will meet your business needs just perfectly. It can be simplified to the following example.

Imagine your parents own a farm. Ordinary farm with cows and plants, no Ethereum mining. The farm provides milk and vegetables to several shops in a nearest city. Shops sell it to the citizens. Bank helps them all to keep money safe: parents, shop owners, and citizens almost don't care about their bank accounts, they just work to know they have money. Everyone glad to be assured that nobody can steal money or don't pay a debt. Bank fixes and invest money to provide its services and generate own revenue. Bank provides government with all the data about payments to allow it charge taxes properly. Banking service is a pretty hard job and it costs money. Now imagine a different picture.

Your parents create own currency their bank doesn't support. But that's okay since the new currency doesn't need to be supported as the previous kind of currency. It fixes and keep all the transactions safe automatically. Government could have an access to it just like by the link from your parents. Your parents currency is not better than Bitcoin, it could be even a bit worse. But if all the business needs of your parents and those several shops satisfied, the business could work.

Automated systems have lower costs. So your parents can cut prices or just earn more money for you and your little sister.

In short, new cryptocurrencies make financial ecosystem better for people's daily life.

Such a cute story! And clear example, thanks

[steveouttrim]

We need millions of different coins. How else can we free humanity from the yoke of the fiat printing banksters?

[puremage111]

Cryptocurrencies is getting on fire recently

But i would say the wild raging tons of ICO weekly is bad for the industry.

To be honest, we already have quite enough of cryptos that is use for "General" payment purpose.

Then, years ago we have coins that is made for fun / hobbies like coins with celebrity name, coins with funny names.

Trend has changes, recently we have very great coins that integrate with real use case like
Kickstarter based crypto - Kickcoin
Pension Fund based crypto - Auctus
Blockchainized Stubhub - Guts, Crypto.tickets

And tons and tons of it

I would say there's generally a niche of crypto that "we really need"
It depends on just how successful it could be

[ethereumhunter]

Blockchain is changing the meaning of 'currency'. This is the ability for you to create your own currency that will meet your business needs just perfectly. It can be simplified to the following example.

Imagine your parents own a farm. Ordinary farm with cows and plants, no Ethereum mining. The farm provides milk and vegetables to several shops in a nearest city. Shops sell it to the citizens. Bank helps them all to keep money safe: parents, shop owners, and citizens almost don't care about their bank accounts, they just work to know they have money. Everyone glad to be assured that nobody can steal money or don't pay a debt. Bank fixes and invest money to provide its services and generate own revenue. Bank provides government with all the data about payments to allow it charge taxes properly. Banking service is a pretty hard job and it costs money. Now imagine a different picture.

Your parents create own currency their bank doesn't support. But that's okay since the new currency doesn't need to be supported as the previous kind of currency. It fixes and keep all the transactions safe automatically. Government could have an access to it just like by the link from your parents. Your parents currency is not better than Bitcoin, it could be even a bit worse. But if all the business needs of your parents and those several shops satisfied, the business could work.

Automated systems have lower costs. So your parents can cut prices or just earn more money for you and your little sister.

In short, new cryptocurrencies make financial ecosystem better for people's daily life.

i think it makes sense and if the people have their own business and create the new coins to connected with the bank and even connected with government then the business or the economy for one family can go on. we don't have to pay any fees because we have our own coins that make it simple and the coins is not changing in everytime. and the banks is approve that coins to be a new paying system because the coins can give some benefits to bank.

to answer which crypto currencies do we really need, i think we still need bitcoin and the other altcoin. bitcoin and altcoin is connected with the other. because of bitcoin, the altcoin is exist and both is helping each other and not compete. and now we have many ico which offers their benefit to the people and i see each of ico is trying to reach in many aspect which the bank can not do right now.

[lobo13hf]

Most of the coins developed are just copy cat of already existing coin and the one behind the project will hold large amount of those coin to dump on peak price when listed.

ETH based tokens were created to identify their Investors, its like certificate of company share and through smart contract they can pay divided to all their token holders.

Not just copy cat though, some of them also add some features that bitcoin don't have, that's why people buy them and that's the main reason, but, maybe it's actually right if we're looking to their basic function.
just for example, monero enhance the anonimity feature, and ETH with its smart contract, can't blame that all of those coins merely copy cat.

[aoihs00]

The coins and tokens all we see here is just symbol which represent the related ICO project. Using these tickers, what they call it in the exchanger we can identify our interested ICO and then invest or use the services we wanted always.


This does not help the blockchain in anyway but they are just making use of the open source covered by the blockchain itself. So you see there is interconnected linkages in blockchain and these ICO projects sometimes called as smart contracts.


Hopefully there will be crypto currency which will be dedicated to raise the money for blockchain development in lucrative way but that just seems impossible because it's all about filling up their own pockets. In anyway blockchain development keep leading as long as bitcoin is there.

[happyme1818]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

What we need in cryptocurrency is the one that solves real problem that we can use in the future. Other coins are just shitcoins that made to get profit and scam people's money. You need to be more vigilant and make a thorough research before buying coins.

[Sohailul]

I think that cryptocurrency need for us which is become profitable in future. So your choise is yours. So you can choose few cryptocurrency. If you get profit in future. So everytime can take help from this threads. Everybody ready to help us.

[monica69]

we already use the fiat soo i do see this coins as improvements of fiat, its a nice step, but the coin should have a stable value, or fixed, just would be digital instead printed. If they willing to make something as bitcoin and having control over the coin it will fail, crypto investors wont invest into a coin that can be manipulated anytime, but if the coin will be used into the daily needs as we do use fiat There are lot other coins solving problems but these coins are currently the best. I would go with the bitcoin or eth only always.

[Franius]

BTC - store of value
Monero/Verge - anonymity
Litecoin - Instantaneous transactions
Vertcoin - virtually costless transaction fees
Ethereum/users preference - building decentralised apps
Iota - scalability
ONE decentralised exchange - disrupting brokerage layer

These are only examples but there is something for everyone whatever their preferences are. As we transcend to industries being disrupted through venture capital tokenization, people will probably want coins or tokens that can include most, if not all of the aforementioned features.

[Veridian Forest]

BTC - store of value
Monero/Verge - anonymity
Litecoin - Instantaneous transactions
Vertcoin - virtually costless transaction fees
Ethereum/users preference - building decentralised apps
Iota - scalability
ONE decentralised exchange - disrupting brokerage layer

These are only examples but there is something for everyone whatever their preferences are. As we transcend to industries being disrupted through venture capital tokenization, people will probably want coins or tokens that can include most, if not all of the aforementioned features.

Do you belive in LTC?

[Mr.Mittelman]

BTC - store of value
Monero/Verge - anonymity
Litecoin - Instantaneous transactions
Vertcoin - virtually costless transaction fees
Ethereum/users preference - building decentralised apps
Iota - scalability
ONE decentralised exchange - disrupting brokerage layer

These are only examples but there is something for everyone whatever their preferences are. As we transcend to industries being disrupted through venture capital tokenization, people will probably want coins or tokens that can include most, if not all of the aforementioned features.

Do you belive in LTC?

Why not? Any coin people use has a chance to survive. Do you know something special about LTC?

[Mr.Mittelman]

Try to think out of box. What if we actually need eternal generation of new currencies in order to make each business project more effective. One more business one more currency. Thus, since any currency is risky, probably we need not a stable set of currencies but a smart tool to exchange them quickly.

[bcnaranjo]

Maybe it depends on what application do we really the crypto for our use. Many currencies are available in the market now with different application like smart contracts, anonymous transactions and the likes, and more are coming since developers keep on developing every year.

[Noxmfs]

The top 5 + link. That is beyond enough and covers 99% of what the world needs in my opinion. Nowadays most altcoins turn out to be memes and pnd's.

[Kisanaq]

Until now many coins that I need and of course the biggest is ETH and Waves, ETH I use a lot to join ICO while Waves for long-term investment because it is very profitable.

[wander.me]

I think we will need the one that the mass will adopt. Maybe it will not be one of those which are already created. I believe that for now, the crypto world is an alternative to the old stock exchange. It is a necessity for it, but any prediction on which will be the currency of the future is hard to make. Probably it will be the one in which the rich people will pun enough money in. I guess it's up to your intuition and luck.

[MiBambino]

We need:
* bitcoin
* ethereum
* neo
* sonm
* Change bank (side by side with other crypto 'banks')
* ltc
* ripple (yes, i said it, ripple)
* datum
* stratis
* a handful others

I believe in 5 - 10 years about 90% of all current coins will have faded away or have been taken over by other coins (like golem will be taken over by sonm), and the other ones have gone on to thrive and become billion or hundred-billion dollar coins

[FrankNoland]

Hey there! I am newbie here so would be grateful if someone just replies with the link to an old thread. Why do some projects still create new cryptocurrencies?

I mean the ones that create just new 'coin' without any additional value to blockchain technology evolution or adoption. For example, I don't understand what https://bitcoen.io or https://putincoin.org are created for.

In my opinion, i think new cryptocurrencies will always be created from now on with ICOs and Airdrops launching every second, since the invention of bitcoin.

A lot of things are now based on blockchain, from music, agriculture, marketing, encryption etc, some organization will continue creating new coins, it might not be that they are doing it for the money since some coins are given away on airdrop and bounties, but only that they want their product built on block chain.

I mean if you have all the resources you can do it, start up funds all those. I mean it is obvious that the funds will be used to develop the project.