aussiesloth (OP)
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May 02, 2018, 07:09:26 AM |
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So, I've been thinking about crypto in general...
Unless somebody comes up with a completely new type of currency (ie. not just another fork of an existing one) that supersedes all others, is there really any need to have more?
Surely, the future of new Altcoins lies in utility tokens that fit certain market or industry segments (ie. have a specific use).
I suppose at some point we must eventually see the end of unique Altcoins, too.
Thoughts?
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MATHReX
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May 02, 2018, 08:56:27 AM |
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There will always be someone with a unique idea or addition to the blockchain technology that hasn't been out yet and will pursue to bring it to life with hard work and dedication. Only that kind of coins/tokens will have any utility in the future. That kind is just one in hundred as of now but there will always be the inception of new coins born upon unique ideas that can transform blockchain as a whole.
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zopply
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May 02, 2018, 09:08:51 AM |
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All the current coins have a variety of problems like scalability issues,supply problems, congested networks, slow transactions and numerous other issues so i think there is a demand for some new coins. As we advance in blockchain technology things are only going to improve as people fork old coins and make new additions to them and better and improved platforms.
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LtMotioN
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May 02, 2018, 09:18:31 AM |
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True, for currency we can have one coin to rule them all (Bitcoin). If some new scaling mechanism is invented, it should be deployed on bitcoin. BTC should be the reserve currency of this cryptoconomy.
As for utility tokens, I think we have too many of those coming out as well already. You see many re-hashes of people doing the same thing over and over. Even for smart contract platforms, EOS/ETH/NEO/ADA/ICX - one of these will make it work. I think the hype around new contenders in this space will die out soon.
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Dogs are nice, I don't like cats though.
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Meteeray
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May 02, 2018, 09:23:01 AM |
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Every new blockchain project that comes out serves a different purpose. What is important is that they can apply it? if applicable, all necessary projects.
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ahmadakbari
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May 02, 2018, 09:28:27 AM |
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I think new coins are still needed in addition to tokens. There is still some problems that have not been solved in existing coins. So some new coins should be created to solve the problems such as transaction fees and long confirmation times. This is what is needed to make cryptocurrencies the currency which we is used for all buys and sells. Cryptocurrencies still need development. So new coins are needed.
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RoftheN
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May 02, 2018, 09:30:27 AM |
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Yes new currencies are needed which have innovative technology, without new currencies there wont be any competition and the older coins will be fine with mediocre development rates. Although forked coins aren't needed much, but disruptive technologies like the recent DAG coins are needed.
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makishart
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May 02, 2018, 09:42:40 AM |
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So, I've been thinking about crypto in general...
Unless somebody comes up with a completely new type of currency (ie. not just another fork of an existing one) that supersedes all others, is there really any need to have more?
Surely, the future of new Altcoins lies in utility tokens that fit certain market or industry segments (ie. have a specific use).
I suppose at some point we must eventually see the end of unique Altcoins, too.
Thoughts?
When smartcontract becomes very popular in crypto industry and crap copycat projects just like EOS, ADA, NEO, and many more try to working in create an improvement one. The fact that we don't need them all. They are all just popping out due to the trend. The majority of them don't know what's the definition of utility. |
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talkbitcoin
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All I know is that I know nothing.
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May 02, 2018, 09:56:24 AM |
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i know one thing for sure, we don't need any tokens at all! there is absolutely no reason for them to exist and they have no usages. they keep on coming up with these virtual problems in their heads then pretend they are solving that problem!
at the end of the day it will all come down to profit and profit and more profit.
as for new coins i say we need new developers that focus on invention and developing instead of focusing on how to earn more money!
the day that i see a new altcoin is created with a real interesting innovation, no premine and no ICO is the day that i invest a large amount of money in it just to support the project. i don't care even if it fails and i lose money.
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taiwww
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May 02, 2018, 09:59:26 AM |
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The end of unique altcoins should have already done but it is somehow still going on.
By the last week there were only 1500 tokens in the market and just after a week there are 100 more added this week. It does imply that tokens are been created at alarming rate but dont know whether it is good idea or not.
Sometimes its just means of raising the funds and nothing else.
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Monkeyseemonkeydo
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May 02, 2018, 10:01:55 AM |
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I think new coins are still needed in addition to tokens. There is still some problems that have not been solved in existing coins
Name me at least one problem that been sold by cryptocurrency except the problem of traders' empty wallets? Don't tell me you're taking Dentacoin and paying to your dentist, that's ridiculous |
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googs84
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CryptoTalk.Org - Get Paid for every Post!
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May 02, 2018, 10:06:18 AM |
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Currencies or Token is one and the same thing!
Well, we dont really need them and first of all, altcoin should have never existed but some smart kid started the story so who can argue on that one. The fact is new tokens are being generated as part of new ICO projects. Now we cant definitely tell that which one is legit and which one is scam and thus we have to accept the reality that we might just see some good projects. And there are succeful approaches already so sometimes it does feel that they should be there but when we hit the scammers then we think it shouldn't be here at all. Anyway, we cant help it but my answer would be they should not exist.
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vike
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May 02, 2018, 10:06:30 AM |
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I think that new currencies are not needed because there are so many of them and people are beginning to realize that it's not so easy to go on the market with their crypto.
We need true ico projects that will use both fiat and their tokens.
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Aura
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May 02, 2018, 10:08:48 AM |
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We don't need more identical copies of Bitcoin nor Ethereum, there are too many already. But innovation is welcome, so when you have a great idea on how to improve the system you are welcome to publish your idea through a new altcoin.
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Alexandr Kirichenko
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Distributed Intelligent IoT Technology
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May 02, 2018, 10:17:56 AM |
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So, I've been thinking about crypto in general...
Unless somebody comes up with a completely new type of currency (ie. not just another fork of an existing one) that supersedes all others, is there really any need to have more?
Surely, the future of new Altcoins lies in utility tokens that fit certain market or industry segments (ie. have a specific use).
I suppose at some point we must eventually see the end of unique Altcoins, too.
Thoughts?
This sounds true, but the market itself will remove unnecessary coins. they'll just lose demand. Therefore, while the market will be filled, and then will remain strongest coin. |
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aussiesloth (OP)
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May 02, 2018, 11:52:10 AM |
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Currencies or Token is one and the same thing!
Currency = an alternative to fiat for making payment. No specific use case. Utility Token = Use-case specific, designed for a particular project. I really don’t see them as the same thing. |
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shiming
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May 02, 2018, 11:54:43 AM |
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Technology is certainly needed to develop. Now the block chain is just beginning, and many technologies have not been developed, so we must have expectations for the new currency.  |
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kynaz
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May 02, 2018, 11:55:34 AM |
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So, I've been thinking about crypto in general...
Unless somebody comes up with a completely new type of currency (ie. not just another fork of an existing one) that supersedes all others, is there really any need to have more?
Surely, the future of new Altcoins lies in utility tokens that fit certain market or industry segments (ie. have a specific use).
I suppose at some point we must eventually see the end of unique Altcoins, too.
Thoughts?
I think so. Altos are increasingly appearing and that creates a lot of trash in the Crypto market. have altcoin created a long time but can not grow, it has become a waste of the Crypto market. They will be excluded from this potential market and market capitalization will focus more on the valuable altcoin. |
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hase0278
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May 02, 2018, 12:00:52 PM |
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Unless somebody comes up with a completely new type of currency (ie. not just another fork of an existing one) that supersedes all others, is there really any need to have more?
As of the moment, we need to have more cryptocurrency for it to evolve and develop. Surely, the future of new Altcoins lies in utility tokens that fit certain market or industry segments (ie. have a specific use).
I suppose at some point we must eventually see the end of unique Altcoins, too.
Thoughts?
We won't see the end of unique altcoins for a long time because people's minds are what brings forth innovations and so long as we humans use our brains, there will always be a unique altcoin that might surpass btc. So long as technologies evolve and society develops, we will always see a need for utility tokens that fits certain market or industry. |
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nadbucs
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May 02, 2018, 12:18:19 PM |
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I think new coin are not required as there are lots of them now and people get confused at the same time bitcoin is already there that can use to purchase goods, services and other altcoins/token. Only improving of existing coins is needed in order to have a smooth transactions. Tokens are still required definitely if there are new projects because they need their own unique token for their project because they have their own purpose and usability in the future.
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