The reason why many altcoin is important

[Tambu]

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market  that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7.     Bounty campaign will be continued to progress. 

[Nivelir]

Well, the most important thing is probably that the projects are developed at the expense of investments from ordinary people. That is, foreclosure invents invented tokens, but the main engine altcoins is all the same interest in the future financial system in the world. Although I'm probably too global looking at things.

[skelethon]

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market  that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7.     Bounty campaign will be continued to progress. 

But don't you think that having too many altcoins is simply unnecessary and counter-intuitive?

At what point does it start becoming annoying and an inconvenience?

[Valzador]

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market  that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7.     Bounty campaign will be continued to progress. 

The point you mentioned is true but there are still contra that is emerging of shitcoin , I've heard rumors about Theymos will make a coin or token audit team but lately reportedly has never reappeared, even though the team is very helpful if it is formed.

[feelideb]

What a brilliant counter- thread to ' too many ICO'  etc. People that believe there are to many altcoin are simply short sighted. The market value of cryptocurrency is still very small compare to market value of NYSE etc. We need as many altcoin as possible to remain competitive.

[skelethon]

What a brilliant counter- thread to ' too many ICO'  etc. People that believe there are to many altcoin are simply short sighted. The market value of cryptocurrency is still very small compare to market value of NYSE etc. We need as many altcoin as possible to remain competitive.

But in the case of "too many ICOs", doesn't that encourage more shitty/scammier ICOs? Since it's easier to go by unnoticed.

[Tambu]

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market  that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7.     Bounty campaign will be continued to progress. 

But don't you think that having too many altcoins is simply unnecessary and counter-intuitive?

At what point does it start becoming annoying and an inconvenience?

I don't think so. I believe all altcoin are co-important and necessary. They will only differ on their marketing strategy of survival.   Altcoin doesn't flourish to the market will die down then.  Beside we are just care about our wallet. Coins outside our wallet doesn't annoyed us.

[Tambu]

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market  that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7.     Bounty campaign will be continued to progress. 

The point you mentioned is true but there are still contra that is emerging of shitcoin , I've heard rumors about Theymos will make a coin or token audit team but lately reportedly has never reappeared, even though the team is very helpful if it is formed.

That's good buddy if gonna happened at least from the start is already screened. All will be benefited on it if it is formed.

[Red-Apple]

what you say is very true but only in a perfect world.

you are missing an important fact that changes everything. and the fact is that a lot of greedy people and scammers and newbies with 0 knowledge have been creating a large part of the  current existing altcoins.

in other words, we don't really have many "altcoins", we have some altcoins and a lot of useless junk. it is a decentralized and open sourced community, so anyone can simply fork another project and create their own thing without even adding anything to the technology!
i read somewhere that there have been nearly 700 coins forked from bitcoin so far!

[Tambu]

what you say is very true but only in a perfect world.

you are missing an important fact that changes everything. and the fact is that a lot of greedy people and scammers and newbies with 0 knowledge have been creating a large part of the  current existing altcoins.

in other words, we don't really have many "altcoins", we have some altcoins and a lot of useless junk. it is a decentralized and open sourced community, so anyone can simply fork another project and create their own thing without even adding anything to the technology!
i read somewhere that there have been nearly 700 coins forked from bitcoin so far!

We cannot deny the fact that technology is always abuse by spammers/scammers, altcoin is prone to that.  But is up to the investors/traders to choose which one is credible and not, I believe they are expert on that.  Those shitcoins definitely soon will flash to the toilet. 

[Tambu]

What a brilliant counter- thread to ' too many ICO'  etc. People that believe there are to many altcoin are simply short sighted. The market value of cryptocurrency is still very small compare to market value of NYSE etc. We need as many altcoin as possible to remain competitive.

I agree buddy. Altcoins not even 10% of the SE. Yet people don't call some of the stocks in SE junks or useless.

[felipe04]

Actually digital currency is created to earn money so that's why btc's continue to grow,investor,traders and users enjoys here because we can earn here it's like business for us even it's so volatile and the earnings is base on your risk money but not all,i think trading and investing here are so risky but still it's profitable,digital currency is so imporyant because we need this in life.

[wayaneka]

Yes this very important so the community of cryptocurrency will be bigger and will be many adoption of blockchain technology. I also look in to bounty program is important to continue running because many people does not have any job and like in my country really difficult to looking for job, and they can earn money from this freelance job.

[Msoall]

If ICO is held and means the coin justifies its existence. The coins are issued for use in more specific areas than General - such as ETH and BTC. Plus the fact that they attract new capital to the market.

[01BTC]

Many people asking why there are a lot of altcoins, and they suggest limits the altcoin making should be done.

The reasons why I don't agree to limits the altcoin aside from the reason of decentralization.

Here are the few;
1.   The monopoly of market will be avoided.
2.   There is a competition of prices in the market  that can limit the price of the stellar cryptocurrency to overshoot.
3.   Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.
4.   New and small investors/traders will be given a chance to trade in the market.
5.   There is a healthy circulation of money in the market because hoarding/holding will be prevented.
6.   Exchange site/market can gain also a suitable amount.
7.     Bounty campaign will be continued to progress. 

I will second you on this! While to us will probably look many, they are just a small percentage compared for ex. with stock market.

The ones that are having no product/project or just scam will get lost alone , the ones with strong projects/products will probably have the ability to reach Ethereum or even Bitcoin in a few years, so yea sky is the limit ..

[mullenmanBTC]

Interesting point on this. I also think competition for the same function is needed. Whenever, there is disruption in the market there should never be only one leading company. For example with Facebook came twitter, snapchat etc. all competing for the same entertainment factor, but also co-existing in the space. Yeah one protocol will probably lead the charge, it may be ETH, or NEO etc. , but they can all coexist as well and be successful.

[semobo]

If there is no altcoins then price of bitcoin will get too expensive and the transaction fee will climb up too high amd the waiting time will get days.And it will make the bitcoins not usable.So altcoins are very important if we need to use bitcoin in the future.

[thuyvoor]

There are many reasons bitcoin is important and arguments to why use bitcoin:
Bitcoin is a commodity
Bitcoin’s Transparency
Bitcoin is Deflationary
Fiat is Prone to Government Manipulation
Bitcoin is Pure, Unregulated, and Open
Bitcoin has no Borders, Limits
 

[kier010]

to put it simply altcoins emerge to improve bitcoin flaws like high fees, slow transaction time, etc and to try to compete with bitcoin by innovating and developing new features as to improve and surpass bitcoin limitations. and altcoins have many purpose and some altcoins are great at one thing but not so good at another.

[Sevarchik]

One more reason is: Each altcoins is unique project with their application to solve certain problems