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.

[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.