What cryptocurriencies do we really need?

[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.