Competition between altcoins

[Bumidinasty]

Indeed, there is a lot of competition between altcoins, in my opinion it's good for crptocurrency development because many people believe in crptocurrency and add a lot of volume to the crypto market, but too many coins in my opinion are also not good because there are certainly many fraudulent coins that just want to take our coins

[della46]

maybe such competition is very thin because every altcoin most of them work together to succeed each other in terms of investment and so on.

[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?

Generally, competition is always good. Too many projects? if you do not take into account all the scams and fraudulent ico, then there will not be much left, firstly. secondly, blockchain can be used in various industries, from sports betting and games to construction, loans and insurance. it is possible even in political elections to use something like a blockchain, that's will be a bomb - a transparent, open to everyone, absolutely honest election system. in general, anywhere. life is very multifaceted and do not think that there are too many of these projects - they may be yet, vice versa, few. I think there are still many unrealized or just emerging now, today, here in the life of ideas and this is good.

But this topic is about altcoins, more specifically, about competition in the altcoin market. It is definitely not about politics and whatever the blockchain technology can be used for (apart from altcoins, obviously). The problem with this competition is that it looks like it can't weed out bad altcoins (shitcoins). So no matter how tough it migh be or become, there will always be a constant influx of new shitcoins. In this manner, coins that lose and are abandoned will be quickly replaced with new batches of trash, maybe, even less competitive but that won't matter either.

And this is the point that I want to discuss here.

[CoinMaster69]

i think that there will be a "purging". Time will decide which altcoin will be good and remain and which will be obsolete and vanish.

[Mt. Dempo]

I think alt doesn't have to be much, a little is enough, but on condition that the coin can meet expectations and in accordance with the ideas or concepts that have been planned by the developer. I think all altcoins must compete to be the best and can be beneficial for everyone.

[tarlok01]

Many altcoins are available in the market. Some gives good values to people and people like to purchase them. Some coin's whitepaper is not understood by people and they don't like to buy them. These coins doesn't survive in the market and the get unlisted form the exchanges.

[muzkle]

The Altcoin market is growing stronger. More and more electronic coins are emerging to enter the competition to find e-currencies that have the potential to be used by consumers around the world. Therefore, the competition to keep the Altcoin is a meaningful competition.

[dark1234]

how many coins have failed and died since the cryptocurrency started but certainly from all that exists, only those who are able to compete and continue to be developed so that the community can use it that will be able to survive

[Kasabus]

The Altcoin market is growing stronger. More and more electronic coins are emerging to enter the competition to find e-currencies that have the potential to be used by consumers around the world. Therefore, the competition to keep the Altcoin is a meaningful competition.

Since crypto market getting stronger, it also affect market competition. Such competition will lead other coins into dying especially when it is not yet supported by its developer and the team behind its creation. Moreover, it usually create a strategic plan to attract more investors to help them win from the competition.

[DarkBullet]

If you look back a on 2017, those ICOs and different altcoins pops out day by day when BTC moves upward unexpectedly and embrace by many. Unfortunately, some altcoins took advantage and scammed millions of investors. That is the reason why the price in the market suffers as of today because the government were alarmed. There are some government agencies that double checks those ICOs but shit altcoins can't  be avoided and I might say that you can expect more of these shit loads in cryptocurrencies as long as there is no concrete rules and regulations from the government.

[irixo10]

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?

There are over 3000 different Cryptocurrency. The coinmarket lists only about 1900 Cryptocurrency and there are many but not enough requirements to list there. But more than 80% are altcoins that do not have the product to serve life and of course as you say. All will die by the time and only the good altcoin and the product will survive and be applied to life

[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?

There are over 3000 different Cryptocurrency. The coinmarket lists only about 1900 Cryptocurrency and there are many but not enough requirements to list there. But more than 80% are altcoins that do not have the product to serve life and of course as you say. All will die by the time and only the good altcoin and the product will survive and be applied to life

If it were so, most of these shitcoins would have long been gone. Have you ever wondered why there are still over 3000 cryptocurrencies (let's assume that what you say is true), which is by any sane metric a mighty overkill? If we consider the fact that the "estimated time to death" (average lifespan of a shitcoin) is around one year or even less than that, we would by now have a clean landscape where wouldn't be so many shitocoins, only the deserving ones (give or take a couple coins).

In essence, it means that when a shitcoin dies a new one is born, which takes the place of the deceased one. It leads us to a conclusion than competition doesn't really weed out these coins as we intuitively expect. It simply doesn't work in the way we hope.

[3kpk3]

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.

I agree. Many of the cryptocurrencies are bound to disappear over time since they are most likely scams, pump and dump coins or simply unsuccessful which is why it is far better investing into popular cryptocurrencies like Ethereum, Litecoin, Ripple, Stellar, NEO etc since they have huge long term prospects although their values will definitely fluctuate over time. I feel that only around 100 coins will truly survive in the long run.

[d2s4]

It is not just compitition, it has become a fight between them which is becoming harder and harder with the adding new alternative cryptocurrencies on the market.

[arnoldspicemerchant]

I think there is no competition between the altcoys. Every altcoin lives in principle with his life. The price of altcoin depends only on the price of bitcoin.

[anth36jian]

Competition makes alternative cryptocurrencies stronger and more prepared for surviving in the wil crypto's nature. It is needed with cryptomarket for development.

[romeolopez21]

This competition is the best way to make alternative cryptocurrencies stronger and to 'kill' weaker ones for the cleaning of the cryptocurrency market from this waste.

[tee-rex]

It is not just compitition, it has become a fight between them which is becoming harder and harder with the adding new alternative cryptocurrencies on the market.

The (potential) problem with this kind of competition is whether it actually leads to anything constructive and valuable. Does it really contribute anything of value to crypto or is it just a ruthless fight for the money of those who looks into these new currencies? How many new coins entered the market that would boast some new and truly innovative features, both useful and revolutionary?

As it seems to me, the altcoin market and ICO's even more so have become a means for exploiting human greed rather than a field for testing new features and fresh ideas.

[crenfrosck]

I am a fan of this raw competition, but we know how will this end eventually. Only the strongest projects with a wide community will survive and others will be struggling a lot to equal their opponents. There are so many factors that can determine the success in long-term. New projects will benefit from the mistakes of their progenitors and that massive headstart can make a difference big enough to catapult them to the top. Coins that will be in top 10 in five-ten years might not even exist right now! Sticking to current top performers might not be the best strategy, but all we can do is making predictions based on the information that is available to us at the moment.

[samle]

currently many crypto markets are popping up with some coins that have been promoted, competition between one another is normal, many people are thinking of choosing something cheap or cheap tax deductions with fast transactions