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Author Topic: So many cryptocurrencies !  (Read 6166 times)
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May 28, 2018, 01:32:27 AM
Merited by aakashsangwan (7)
 #1

There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?



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May 28, 2018, 06:53:04 AM
 #2

There has to be some kind of a worldwide cryptocurrency organisation,which approves or denies new altcoins.
All the crypto trading platforms will have to abide by the rules of this organisation and clear the crypto marketplace from the shitty pump&dump coins.
There`s nothing wrong with having a tough competition,a competitive market is a must and only the strongest and most trustworthy coins will survive.

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May 28, 2018, 07:01:27 AM
 #3

Every crypto currencies has their own roadmaps and I think it is their responsibilites, developers, to take the road that in their mind, will make their crypto  successful. If their crypto currencies did not survive the cruel competition with a lot of other opponents then I think that is the fault of the developers and we don't need to think about it since we are just basing our investments on their future plans and strategies.

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May 28, 2018, 07:48:29 AM
 #4

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.

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May 28, 2018, 08:22:58 AM
 #5

There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?

People should be a regulator. This is the usual competition where the strongest survive. We just need to stop buying shit coins and the market will quickly filter out it's unnecessary crypto currency.
And I liked the Bittrex rule. If the company doesn't have a work product, they will delist token. Great rule.

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May 28, 2018, 08:48:14 AM
 #6

With regulatory body there will be less coin and hopefully it can decrease the fraud coin, but people prefer crypto to be decentralized, infact most of investors like crypto because its decentralized, so even I think regulatory is going to give positive effect on the investors, but I think the investors prefer a decentralized investment


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May 28, 2018, 08:53:58 AM
 #7

There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?

I think diversity is always a good thing and we shouldn't be afraid of it. Even if most of the existing cryptos were fraud it would be improper to let only 50-100 of the established ones be and ban all the others plus prevent appearing of the new ones. Crytpo market is a developing organism still in its early stage and we shouldn't prevent the progress. Hopefully the regulators will be taking that into consideration.

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May 28, 2018, 08:59:08 AM
 #8

Yes, you are right there must be someone to manage the cryptocurrencies and also the exchanges because this Cryptoindustry is gaining great demand and it is going to be one of the top 10 business industry in coming years. So any kind of organization or some type of worldwide law and regulations must be implied  on all the altcoins and on all the exchanges with strict terms & conditions so that the traders & investors feel safe and secure about their investments and there will be a strong support to those small exchanges and business startups who have just kept their foot inside this industry. Smiley Smiley

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May 28, 2018, 09:01:20 AM
 #9

While it certainly would be good if there was some sort of respected and independent authority on crypto-currencies, I think it would be difficult for them to do their job, given the various reasons and motivations for the people that invest in crypto and get involved with it. On the one hand we got the Lambo Moon crowd who is in it just for the money and couldn't care less about the world-changing opportunities that the technology makes possible, and on the other there are the Believers who see its potential and care far less about short-term profits. How do you evaluate a crypto-asset when 'serving' one group is often contradictory with 'serving' the other?

Of the 1600+ currencies listed (and, note, that this is by no means an exhaustive list, there's plenty of coins waiting in the wings to be listed on CMC, and lots of coins that don't care about such listing) I'm confident that at least 400 are run by honest, decent, committed and able teams that genuinely want their product to work out. That still leaves us with 5-10 coins per 'business area' competing with each other. Evidently, not all of them will make it, despite the most sincere and honest of intentions.

In regards to regulation - I am starting to believe that we do not need regulations, and ought to be indifferent to them. The advantages of having them are for the most part of interest to the money-making crowd, not to the Believers (roughly speaking). I am no libertarian but I strongly believe that hoping for regulations to mature the crypto-market is a poisoned chalice - yes, the market will be more 'stable', but ultimately it will (again) put too much control in the hands of the powers that be. Crypto is here to dissolve power and further the right of humans to self-organize and create their own economies. In the long run, regulation will not greatly enhance the chances for success for these highly desirable aims and goals...
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May 28, 2018, 09:19:54 AM
 #10

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.

There's a big competition in cryptoworld and I just realize the there is too much coin circulating the market which I see a very risky market since not all coins is true and can generate profit. Someone should really control this, yes they need to compete in order for them to survive but the question is, is it safe to invest on that coin, is it worth it? A hundred of exchanges wow and yet many are still staying on the big exchanges with a great trading volume.

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May 28, 2018, 09:22:54 AM
 #11

and the fact that most of the coins are not used in their real use-case scenario makes us more prone to scams. That is why regulations is a must in order for us to control the development of a new coin in the market.

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.
but if we have lesser coins, we could focus on those with quality and continue its good development thus resulting for getting more support from the community.
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May 28, 2018, 09:28:35 AM
 #12

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.

There's a big competition in cryptoworld and I just realize the there is too much coin circulating the market which I see a very risky market since not all coins is true and can generate profit. Someone should really control this, yes they need to compete in order for them to survive but the question is, is it safe to invest on that coin, is it worth it? A hundred of exchanges wow and yet many are still staying on the big exchanges with a great trading volume.

So I am to understand you see coins first and foremost as a means to generate profit? And that your fear of not getting that profit is what makes you believe we need regulations? Do you also realize that these same regulations which effectively serve to protect your Lambo investment will hamper and make more difficult the implementation of the actual benefits of crypto which are of enormous value to humanity? And I don't mean in terms of monetary profits, but in terms of freedom of expression and ability to monetize ones' skills and assets without government interference...
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May 28, 2018, 10:10:14 AM
 #13

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.

I strongly agree with this thoughts. That is where competition will become alive. Companies should be motivated to make their currencies even more favorable by the public with the best services they can offer.

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May 28, 2018, 10:13:27 AM
 #14

Well i too believe in what OP says. But then again, i still believe in a free market. A regulating body should only feel out the fraudulent ones, but if the coin is legit then it should be allowed to go on. Surviving would be the coin's problem. Let the market kill it or let it live. Competition really breeds a better market especially for investors.

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May 28, 2018, 10:28:53 AM
 #15

I think it's impossible to regulate all of them. Maybe it would be possible to create a department to file projects so that they could get a "stamp of approval". Investors could turn to those if they wanted to, but this could of course end up killing some good projects out there.

I agree with you, the market is completely saturated, but I guess that those things will get solved by default. It's like the .com bubble. The bad companies simply stopped growing, and only a small few survived. The same will probably happen to crypto, because people will simply stop investing and buying tokens that they don't know that well. Right now, we still see a lot of people just buying a token because it's something new, and they hope they will get on the "next bitcoin", expecting to see their profits going through the roof without having to do a thing.

People buy into crypto like if they were buying into a lottery ticket right now, but that will eventually end.

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May 28, 2018, 10:39:16 AM
 #16

it is not a problem. if there are so many cryptocurrencies what is the matter. people will traede, invest in the good ones. and no one is going to trade the bad ones. they will loose their volume and after a while they will return a shit coin and forgetten. no need any regulations.

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May 28, 2018, 10:55:07 AM
 #17

There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?

So you want some authority to come in and tell us which crypto currency is allowed or not?! LOL
Do you even know why Bitcoin was created in the first place?!
It's just a question of time until the market itself will decide which coins will survive or not.
And I can assure you that 95% of the coins you know right now are going to die within the next 5 years.
95% if the altcoins are scams anyway. So this space is already packed with scammers.
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May 28, 2018, 10:55:35 AM
Last edit: May 28, 2018, 11:22:05 AM by marcbitcoins
 #18

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.

Agree, I will still stick to the more the merrier because of competency then to determine that all of these crypto currencies are qualified in the market, we should strongly to support the regulation to ensure that the new ICO's are qualified for the future investments and competition. Regulation also will help to control the numbers of ICO to determine which is legit and which is not. We don't need to worry about the investors because as long as their investment is safe from scam then they are responsible of the their fortune by choosing the best crypto.

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May 28, 2018, 10:56:03 AM
 #19

The proliferation of cryptos and the attending increase of cryptocurrency exchanges go a long way to show that the crypto industry has come to stay. For those who fret, it's time to stop fretting. The market isn't going anywhere. Invest and exercise patience to reap the dividends of your investment.

Now, about the different number of cryptos getting listed, I like to say it's ok. What the heck! Don't we havev a great number of companies getting on the stock exchange annually? OP, have you heard that adage, "The more the merrier?" So should it be in cryptos too.


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May 28, 2018, 12:02:29 PM
 #20

I do not think it necessary to make rules about the issue, let the competition determine the quality of a currency. we have the same rights here, but they should really give the best for their currency to get many investors.
Right! Let them run and prove themselves how valuable they are in the market. In that way we can weight which is which.
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