The reason why many altcoin is important

[asriloni]

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 credible and not, I believe they are expert on that.  Those shitcoins definitely soon will flash to the toilet. 

Sure, even the traditional system always abuse by the scammers. I would not be surprised to see about the technology will become another victim to be abused by these persons.

Just the matter of time until some people are moving their money to the non-shitcoin. I remember there is a lot of shitcoin already died and one of them just like torcoin.

[Tambu]

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
 

Nice dude! but this thread is all about altcoin. Seems you're missing  the point. Anyway on view on Bitcoin somehow is true.

[Uhde]

Bad side of many altcoins is there is so much scam possibility. But good side is better ones will survive and bad ones will become crap and noone will remember them. so they have to work harder to be better than others.

[Tambu]

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

True dude. Each altcoin has its own platform. Their platform is their barometer if they are worth to invest with or just junk altcoin.
It's better to read always the white paper of every altcoin you plan to invest with.

[Requim]

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. 

This are good lists. It's good to have many altcoins because each coin is unique in their own way. Each has a good service, product and project that they promote. Some altcoins are worth investing because they are good for long term run. If there's a lot of altcoin, monopoly of the market can surely be avoided, and there would be many choice for investors to invest to.

[Mpamaegbu]

To say the truth the increase in number of altcoins into the crypto space used to bother me a few months ago. The influx became a cause for concern as on daily basis more are listed on CMC. They were around 730 cryptos on CMC when I joined this forum in Jan 2017 but today that number has doubled. That isn't even the issue. The regulation is the issue. A lot of scams have been executed through this loose regulation and many devs have gone unpunished.

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

3. Altcoins can cause unpredictable fluctuation of prices in the market. Fluctuation of prices result revenue for the traders/investors.

I really don't see how this will happen if the bitcoin doesn't set the pace for price. Remember that whenever Bitcoin goes down, altcoins also dip. So, we always look up at btc for price dictation.

7. Bounty campaign will be continued to progress.
 

Sadly, this is true and that is why most people are here and also doing shitposting. Hopefully, the Merit system should begin to take care of that.

[csseyah]

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 agree with these reasons specially to the number 7. ... But if you ask me, I also want to limit the altcoins population in some manner or reasons.

Here are some of the reasons why I agree to limit the altcoins.

1.  Many altcoins are having the same functionalities/features
2.  Some of the altcoins are SCAM
3.  Many altcoins today are abandoned by the developer
4.  Some of the new altcoins are very expensive (for me as a small time investor)
5.  Some of the exchange site don't allow small time altcoins to be trade
6.  My computer harddrive are now full because of so many local wallet of my altcoins collection

[max6575]

as developer works on deliverance to gives of offer for clients and future investors with the projects plan, remaining users of the token as attending service might gains of spares of extension on appealing chance as being within the schemes of businesses with the crypto trading of finance with the moderation.

[lionelho]

The most important reason could be that via altcoins, many innovative thoughts can be experimented, which will finally benefit to the whole crypto world.

[Baton55]

In any healthy ecosystem there is always competition and the best usually rises to the top. Many Bitcoin elitists believe that there should only be one cryptocurrency, but having other altcoins as an option would both spur on innovation, but also ensure that it truly is the best option out there. Having only one cryptocurrency as an option for the world would also give the network too much power and if the core developers made changes that the people didn’t agree with switching to another coin would be more difficult. Having choice is freedom and allows people choose the best option for them and balance the power of this new internet money.

[Tambu]

In any healthy ecosystem there is always competition and the best usually rises to the top. Many Bitcoin elitists believe that there should only be one cryptocurrency, but having other altcoins as an option would both spur on innovation, but also ensure that it truly is the best option out there. Having only one cryptocurrency as an option for the world would also give the network too much power and if the core developers made changes that the people didn’t agree with switching to another coin would be more difficult. Having choice is freedom and allows people choose the best option for them and balance the power of this new internet money.

Yes dude. Competition always bring fortune. Developers will exert enough effort if there is no competition in the market. Market will not flourish as well if there no competition. 

[maverickasf]

In any healthy ecosystem there is always competition and the best usually rises to the top. Many Bitcoin elitists believe that there should only be one cryptocurrency, but having other altcoins as an option would both spur on innovation, but also ensure that it truly is the best option out there. Having only one cryptocurrency as an option for the world would also give the network too much power and if the core developers made changes that the people didn’t agree with switching to another coin would be more difficult. Having choice is freedom and allows people choose the best option for them and balance the power of this new internet money.

Yes dude. Competition always bring fortune. Developers will exert enough effort if there is no competition in the market. Market will not flourish as well if there no competition. 

in recent times, competition has nothing to do with it. many companies want to raise money and escape. that now it is no longer a healthy competition.

[trash321]

I think the main reason why altcoins are important. This is certainly their idea and their need for a real world. Many projects do offer quite interesting ideas that will be in demand in the world, but most of it I think still is not needed at all.

[markers]

At the current stage of market development the diversity is important as no one coin effectively satisfies at least all functions that fiat money does. In addition, it encourages the competiveness and development of the whole systems. 

[hgkcoin]

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. 

Strongly agree that many of Altcoin's reasons for making the cryptocurrency market more dynamic are not monopolized by cryptocurrencies such as bitcoin or Ethereum Litecoin, and the entire market is less viable, making it harder for us to profit from it.

[Kaan53]

Altcoins bring more revenue because they show more ups and downs than the more important bitcoins.

[ccris0637]

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.

Possibly yes, but even there are limited number of new ICO there would still be a way for thieves to scam people. There are also already lots of ICO before that turned out to be scam like crazybet and project C, to name few. ICO is a good way of funding a project but also an easy way for culprits to make easy money.

[Hirameki]

1.   The monopoly of market will be avoided.

This is very important because cryptocurrencies are made in such a way that no one can actually monitor and control them. Its always up to the holder of what he/she will do with his digital assets and that's one reason I like cryptocurrencies.

[LaLuna]

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. 

Good read.

[Bradstrange]

In my opinion altcoins help to expand and shake up the cryptocurrency world. They also push the limits of technology that may have not been pushed with bitcoin alone.