Competition between altcoins

[tee-rex]

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

[vlad230]

Yes, you are right, there are way to many crypto currencies right now on the market.

The average life span of a crypto currency is about 1.5 years so, you can expect a lot of them to fail during this time but some of them will succeed and will be used on a larger scale.

Take a look at ETH, a few years ago it was just an ordinary crypto currency but now it's used by millions of people.

I think there will always be a lot of them on the market because as soon as one closes, another one comes back to take it's place.

You need to weed though them and select the ones with a good idea behind and a higher rate of success.

[googs84]

Believe me in the time to come it will be more lesser competition as compared to what you are seeing today. The reason is simple and it straight away includes the interaction of the government with the crypto currencies and their huge rules and regulations that will be coming underway soon. Yes, they are not just going to sit and watch billions of dollars being flooded in the virtual money and see millions of dollars being robbed against the taxes. I guess this will put crypto currency on strictest rules and thus there will be decreased number of altcoins and sooner or later less competition as there wont be much of them out there to compete.

[askmecrypto]

For sure I believe that a lot of shitcoins are eventually going to die, but this is not due to the fact that there are a lot many coins.
When you compare such things with stock, there are enormous stocks available on exchanges which keeps on getting added time to time and a lot of them get delisted because they are not able to keep the daily required volume.
A big number of cryptocurrencies is good in a way, as it spreads more awareness but if they cant keep there worth over the time they are going to die.

[deeofficialx]

1. Every cryptocurrency, I believed, has their own turning point - either a good or bad one. As well know, almost 99 percent of cryptocurrencies were built only under speculations and with no real product or usage, at least not yet. And soon, those cryptocurrencies will be facing their own turning point where they need to release a real product or they need to shut the project down.

2. Yes, those who can't even provide their own usage will soon die. Realistically, I don't think that the number of ICOs will decline dramatically but the opposite. As time goes by, as we learn the real essence of blockchain, there will be more and more projects and ICOs soon.

3. As a fan, I think, those top cryptocurrencies (bitcoin included) will have a world wide adoption. In a year or ten, blockchain will be the most critical aspect of economic and finance.

[Kryten12]

2018 will certainly witness some attrition amongst the altcoins not least as projects that thought they were well funded did not take adequate measures for a huge downturn in the Etherreum price and now find themselves running on fumes. The stronger well managed projects will however survive and will prove to be great investment opportunities for 2019 and beyond.

[tenebriscaelum]

That is the main reason there is the volatility in the market right now because there are too many cryptocurrencies to choose from and the investors are having a hard time to choose the best one out there hence the influx of some cryptcurrencies that are dying out in the market or cryptocurrencies that are being called shitcoins because of lack of investors or no innovation at all. And this is what happens when you give the power to the people and it will not change in the years to come that is why we need to adapt to the volatility in the market.

[Gozie51]

I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another.

This is a function of the teams behind the coin. The teams do what they think is best for the coin and investors to overstep others. So it is the team working judiciously, day and night to get things right.

..or will we always have an influx of a shitload of new coins?

I believe in the future that shitcoins will be very much curtailed because the condition and requirement will be very high for them to meet. For example, currently we know that, not all coin are listed in some exchanges because they can't meet the requirements plus financial charges.

What should we expect from cryptocurrencies on the scale of years or even decades?

I see a time when it will be legally accepted, starting with ETF. Some forex brokers have already started trading some cryptocurrencies, so you see the time is already near. 

[akosijue]

About this, I think you may have lighten me up with some things important about the cryptoworld. Yeah, I'm a lot worried about these ICO projects going around and for years we'll surely have a shitload of altcoins amd cryptocurrencies going around and I don't know what might happen from that. Also, many exchanges are being launched too, decentralized and centralized, these too much of an exchange will ruin the reputation of cryptocurrency esepcially for noncrypto users that might get interested.

[Gozie51]

these too much of an exchange will ruin the reputation of cryptocurrency esepcially for noncrypto users that might get interested.

I don't think it will on the long run. It can only cause some unlucky investors to lose money and they (we) will learn from mistakes made, knowing the shit exchanges.

I remember the time when forex brokers also where everywhere but today, you can actually point at the good, better and best. They will all naturally fall to where they belong.

[Tamilson]

1. What should we expect from cryptocurrencies on the scale of years or even decades? 2. How many will be there and how many do we actually need?

1. If ICOs won't be regulated within this year or next coming years then we will have a sea of trash icos that doesn't have real usage and all are thinking an exit scam and soon icos will be dead.

2. There will be no exact number as long as the coins are essential and sustainable in the community it will and should remain.

[tee-rex]

For sure I believe that a lot of shitcoins are eventually going to die, but this is not due to the fact that there are a lot many coins.
When you compare such things with stock, there are enormous stocks available on exchanges which keeps on getting added time to time and a lot of them get delisted because they are not able to keep the daily required volume.
A big number of cryptocurrencies is good in a way, as it spreads more awareness but if they cant keep there worth over the time they are going to die.

I never thought about altcoins as stocks, kind of, obviously, but aren't the former lacking something which the latter have? If we discard the vaporwares of the dotcom era, stocks represent real companies with real products and services. But what do cryptocurrencies represent? They are the final product to be used. Moreover, they are basically all to be used in the same way, that is, as money.

But do we need so many currencies floating around? Look, there are all possible varieties of goods serving different purposes and satiating different needs, which explains why there are so many companies (and stocks). But if there is no substantial difference between various coins as their purpose suggests, most will necessarily go away.

[Lighthouze]

What is certain is that in the next few years to come;

1. A lot of alts in the space now, mostly shitcoins will die and disappear
2. ICOs regulations will kick in. More confidence will be instilled on the system.
3. Projects with no real use cases will hardly sell. This is because the level of awareness will be higher than it is now and it will be extremely difficult to market scam projects.
4. Blockchain adoption will be higher than it is now. Governments and the private sector will have widespread adoption across board. This is in turn cause the price of Bitcoin to soar.

[tee-rex]

What is certain is that in the next few years to come;

1. A lot of alts in the space now, mostly shitcoins will die and disappear
2. ICOs regulations will kick in. More confidence will be instilled on the system.
3. Projects with no real use cases will hardly sell. This is because the level of awareness will be higher than it is now and it will be extremely difficult to market scam projects.
4. Blockchain adoption will be higher than it is now. Governments and the private sector will have widespread adoption across board. This is in turn cause the price of Bitcoin to soar.

I sincerely hope that this shitpile of useless coins will actually go away finally as they are only a means to steal people's money through exploiting their greed. But that may in fact turn out to be no more than an instance of wishful thinking because greed is not going away either in a year or ten years, or even a hundred years, and there will enough people looking for get rich fast opportunities. So the inner skeptic tells me this may not happen. Naturally, the average life span of a typical shitcoin can actually decrease, but not their total number.

Hope to be wrong, though.

[Allenz]

Nowadays there are many good cryptocurrencies that deserve your trust and your attention, too many I would say, sometimes you spend too much time to choose.

[Bardadym]

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

I think few people can imagine what will happen in 10 years! But the fact that 1000+ of different crypto-currencies from them is 95% unnecessary at all! I keep in my briefcase only those coins that have technology, an open and public team

[Pamela1966]

There is indeed influx of bundles of variety of altcoins day by day, some of them are here to stay because they are viable and can stand the test of time and competition in the crypto market while some have wither away and some dying, most altcoins are doing pretty good and have been adopted for use on a much larger scale which make them popular which most of the time is ascribed to Blockchain technology adoption... With time there will be a big shake in the crypto world and the real and the fittest will remain relevant

[btcvinci]

On a cursory glance, it may look like that different altcoins are competing with each other to cement their position in the market, looking like very cutthroat competition. However, Ethereum was the first coin to bring a lot of new tech in the market and the first competitor who went toe to toe with bitcoin and ultimately edged in being ICO's number one choice of currency. So I believe ETH will last others.

[ashmodeus]

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

for me , sorry if i say like this
but, on my opinion
in the end , just about 10-50 altcoin will stand on the last.
for now , we can say most of them , just like HYIP
yep, HYIP with blockchain masked.
and on the end, investor will bought again most strongest coin like top 1-10.

[target]

I guess we can look at it sooner not as digital currency but an investment like stocks or shares but can be used to trade, buy product and services too. I agree there are lots of them right now and there are more coming which are more advance than just a store of value. Some of the represent a company and a utility token that can be used inside its platform. I don't think it all compete between each other but they go along side together which traders can exchange.