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Author Topic: So many cryptocurrencies !  (Read 6166 times)
yuukireit
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June 01, 2018, 06:42:32 AM
 #161

if this is have a fair competition i think is a bit fair enough if many crypto currency right now, we can see they have a project and the good project with a real progress will get the community trust
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nur rochid
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June 01, 2018, 06:53:37 AM
 #162

A huge numbers of coins in the market it only makes people confusion which one would survive for many years. It happens today that some coins are just sleeping in the corner, and it's dev's are just letting it to be dead.
beside that, i think the number will increase if many countries legalize crytocurrency. and i think this should be governed by government for a good coin that passes the selection, so that no investors are harmed
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June 01, 2018, 07:08:03 AM
 #163

Everything is positive on the side of bitcoin because the more that there is new listed coin in the exchanges the more bitcoin becomes popular because all crypto currencies use btc as the payment or exchange for it.

Most of the new coins are base on ETH so I think this statement is quiet not true. Though bitcoin can be a good option if we see too much coin in the market since this is already proven and you can make profit in bitcoin in the long run. Day by day new coins are coming but only those great coins will succeed in this market so be careful on choosing your coin to support for because not all of them are true some are just a shit coin.
Maybe what he mean is more altcoin come then the promotion of altcoin will be more and more, it will have an effect on the popularity of bitcoin, because you know that bitcoin is the main cryptocurrency, but you are right that many altcoin use ethereum platform for their distribution and besides that there are many coins coming but only the innovative project  to be successful in the market, and bad coin will die and be a scam, so you have to be careful in choosing an investment altcoin / ico..
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June 01, 2018, 07:11:40 AM
 #164

in my opinion, amount if cryptocurrency has direct effect to main cryptocurrency price such as bitcoin and ethereum.shit project that have unclear roadmap is risky selling out their eth or balance that collected from ico.so this is one of reason that could make bitcoin and ethereum goes down.
There are more than 100 crypto coins in the world of the crypto currencies and that this is a very good thing to see this much number of the coins. It is because more the number of the coins will, more will be the options for the investors to make the right choice. You need to be very much careful while choosing any of the crypto coin as this is something which will make you earn money.

 
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June 01, 2018, 07:17:30 AM
 #165

Well that's true. There should be a regulatory system for coins. Also, i think, there should be a way to get rid of all the coins that don't have a value or has a really bad price. But the thing with a market saturated by coins is kind of good. Then again, if the consumers themselves don't bet into these coins then the coin itself will not survive.

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June 01, 2018, 08:53:50 AM
 #166

I think it's necessary to tighten the terms of the ICO. The last time a lot of new companies spend fundraising and most of them scammers.
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June 01, 2018, 09:01:15 AM
 #167

yes that's a good thing with the number of Cryptocurrency. but as small who really work and more interested investors are decentralized.
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June 01, 2018, 09:29:32 AM
 #168

in my opinion, amount if cryptocurrency has direct effect to main cryptocurrency price such as bitcoin and ethereum.shit project that have unclear roadmap is risky selling out their eth or balance that collected from ico.so this is one of reason that could make bitcoin and ethereum goes down.
There are more than 100 crypto coins in the world of the crypto currencies and that this is a very good thing to see this much number of the coins. It is because more the number of the coins will, more will be the options for the investors to make the right choice. You need to be very much careful while choosing any of the crypto coin as this is something which will make you earn money.
This make investing more harder and more complicated. We have so many options or tokens to chose from but we don't know which one will give assurance of earning profit. Yes, we could try studying and conducting a careful analysis of the coins but still, there is a chance that are analysis might be wrong too. Other instance is that the coin might show a possible huge growth over time which is good for investing but the volatility may suddenly act up and then destroy everything.

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June 01, 2018, 09:54:53 AM
 #169

Many coins are coming into the crypto currency community with different technology and many of them don't really have value and above all it is all duplication of what is in existence which i believe regulation will be the only solution in other to reduce the risk from people who will be investing in those coins.
But you know there are no rules and conditions to make a coin. so do not be surprised if coins keep coming very much. some of these coins even have only replica or duplicate technology. many of them also intend to do a scam. so if there are certain rules and conditions maybe it will reduce the number of cryptocurrency and certainly will reduce the risk
Many cryptocurrencies are working and providing its appearance to the people and people are getting benefit from these currencies. The most contribution in this market is that from Bitcoin as its demand and price is witnessing it. Besides all the evens you need to be productive and should choose Bitcoin for your investment as this is affordable at low market and you will just need to hold for long term.
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June 01, 2018, 09:59:11 AM
 #170

Select projects that use the KYS system
Scripture
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June 01, 2018, 10:11:26 AM
 #171

It would be a great idea if it had few but it should be powered by a big company to ensure the safety of it. Google, facebook and other internet famous corporation should try making a legit one. Of all the thousand altcoins existed, its okay for us to have even a hunderd legal ones.
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June 01, 2018, 10:27:24 AM
 #172

The only way to lessen the coming of other currencies is through regulations. There should be a set of standard to be met to produced another kind of coin. Most newly introduced coin are all the same, it has to be unique in features which makes no similarities for others. Lesser number of coin will cause to make other coin easily get developed since oeople will be choosing fewer kind in the market. If not regulated, scam schemes will continue to grow.
This idea is good. But the problem is who will be these body of people who will impose tight regulations about cryptocurrencies? Cryptocurrencies are decentralized in feature and nobody controls. But i also believe thses ICOs before they will be approved and before they come to the market certain regulations and conditions should be imposed about the characteristics and features of the coins. Only in my view.

 
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June 01, 2018, 10:31:55 AM
 #173

yes . and its good because world and people need to know about crypto currencies how it works and hows the process of it. whats the help in our future

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June 01, 2018, 02:07:18 PM
 #174

Positive and negative impact is there because everybody will miss up the chance of earning all the token from different project. The more the merrier and also the more the more become victims of scam because the more crypto to entry the more percentage of scams.
There are many virtual currencies, but big currencies like bitcoin, altcoin, eth will still be more competitive than other currencies.
Before investing, they will find out what kind of coin they should invest in or if they fail initially they will learn from it
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June 01, 2018, 02:28:50 PM
 #175

There is nothing bad in having as many cryptocurrencies and exchanges  after all there is increase in the global population and many are diverting there investment into Cryptos and all these Cryptos addresses or are a solution to one project or the other thus gives room for choices of interest to an investor.




I think If their crypto currency does not survive in cruel competition with many other opponents then I think it is the developers fault and we do not have to think about it because we are just basing our investment on their future plans and strategies.
Every crypto currency has their own road map and I think it is their responsibility, developers, to take that path in their minds, will make their crypto success.
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June 01, 2018, 02:55:33 PM
 #176

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 mate. Everyone wants to be a successful human being. So if they can afford to funds the project hoping that many people also would trust their currency, so why not make one, right? Just like what happen to bitcoin. Does satoshi nakamoto already knew what is the future when he created bitcoin? Did he expect before hand that bitcoin will boom and be trending as what is happening right now? It is not, right? So just the same thing.
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June 01, 2018, 04:29:22 PM
 #177

There are more than 1500 crypto currencies available in the crypto market but all those crypto currencies are following the first crypto currency the bitcoins due to high demand for bitcoins many software developers are developing new crypto currencies into the crypto world and each crypto currency serves different functions and used for different purpose but the bitcoins can be used for everything as bitcoins is the parent of all crypto currencies there are chances for the bitcoins to be in the mainstream of financial services all over the world. I would say that it is good to welcome new crypto currencies in the crypto market due to the rise in price of old crypto currency only new altcoins will be affordable for normal people to invest which will help them earn returns in the long run.
The problem is that many of those cryptocurrencies are completely useless and in fact we may say that those cryptocurrencies are in fact affecting bitcoin negatively by taking away money that should go to bitcoin and to the few cryptocurrencies that are worth it, have you stop to think why do we need so many coins when in fact many of the projects are very similar and are based in the concept of the blockchain that was first created by satoshi? Anything that those coins can do bitcoin can do it better.

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June 01, 2018, 04:42:01 PM
 #178

I strongly agree on your opinion and also believe that the volume of cryptocurrencies should be held down and just choose those who are proven legit, scam-free and fraud-free. There is no use about this higher number of cryptocurrencies this year because it just means that their is also a higher chance that some of these cryptocurrencies are just scams and frauds that can only affect the dignity and the value of cryptocurrency in our era today.
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June 02, 2018, 03:10:34 AM
 #179

we should take the time to research the cryptocurrency we will buy, so we do not choose wrong because not all cryptocurrency will survive. and with so much cryptocurrency I think it's good, because we can select and utilize cryptocurrency
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June 02, 2018, 06:02:21 AM
 #180


Yeah they are thousands of them. But maybe we  have thousands of problem that we need to solve, that regulatory are not able to do so. We have lot of ideas but we have lack of access before  blockchain introduces. Some just want your money, so be very diligent in which project you are going to support.

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