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Author Topic: Do we really need a lot of Cryptocurrencies?  (Read 522 times)
jjeeppeerrxx
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October 08, 2018, 04:07:12 AM
 #1

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?

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October 08, 2018, 04:26:15 AM
 #2

...we only need 1 for every industry...

Yes, and that is also the reason why there's so much cryptocurrencies in our current stream right now. They're competing and doing their best to get that spot, that one and only spot, in every industry. We may not need those but soon, we will pick one each.

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October 08, 2018, 04:31:39 AM
 #3

Cryptocurrency is still at it's earlier stage so we need many cryptocurrency ,there are still many problems that needs to be fix  ,the more new projects are been released the more cryptocurrency will tightens up and get more advanced in the future

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October 08, 2018, 04:58:16 AM
 #4

The reason we need many cryptocurrencies is competition and without it the market can easily be dominated and manipulated by one token or group which is why diversity and competition is needed. This is also true in forex which is a model for the currenct cryptocurrency model.

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October 08, 2018, 05:05:20 AM
 #5

We cannot ignore the fact that there is an ongoing competition among developers. If they see that a certain platform lack something, they'll try to build a new one that can solve that issue (This is the also the reason why we now have other cryptocurrencies other than bitcoin).

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October 08, 2018, 05:08:48 AM
 #6

Each project has a particular problem they want to solve. I think therefore they should be allowed to establish themselves and cement their relevance in the crypto-currency space in the long run those whose relevance are in in doubt would fizzle out

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October 08, 2018, 05:12:19 AM
 #7

It's right, there are too much cryptocurrencies. There are more cryptocurrencies are more good, because we will have the competition between those, they wil offer us better services.

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October 08, 2018, 05:12:39 AM
 #8

There are a lot of altcoin created daily, but only a very small number of them will succeed! We do not need much but need the quality and usability of altcoin or token!

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October 08, 2018, 05:13:18 AM
 #9

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
Competition in development and an attempt to create something new and without problems of the previous project. Each developer has his own vision and opinion and creates a project under himself.

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October 08, 2018, 05:20:36 AM
 #10

Cryptocurrency is still at it's earlier stage so we need many cryptocurrency ,there are still many problems that needs to be fix  ,the more new projects are been released the more cryptocurrency will tightens up and get more advanced in the future

I think you have a better reason being that we are in a phase and that phase is getting us different "testing coins". My question is that, can it be possible to get one coin to serve all our purpose?

Cryptocurrency is not only used as payment system but for other use cases as OP has listed and more. Can blockchain harmonize all human endeavors and activities in one coin?

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October 08, 2018, 05:21:57 AM
 #11

I don't think we need a lot of cryptocurrency, I think as time goes by the crypto currency will decrease and become less, we see which currency will survive from this industry, I wonder if there will be a currency that will merge.

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October 08, 2018, 05:31:48 AM
 #12

Many cryptos emerge because they have different functions. systems, etc. If only we can integrate it as one then we don't need many crytpos. But that would be very difficult to do.

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October 08, 2018, 05:35:10 AM
 #13

Actually we only need those cryptocureencies with actual growth and adds new on blockchain that can be incorporated on those stuff you've mentioned. It's many due to competition for the services that will be good on those aspect. If you would notice only few have unique features and mostly are copy paste concept and idea. But there are similar with additional features that not present on the existing one. This industry keeps evolving and those who have acquired most advance will be the winner here. Exception here are the famous coins which are already get the sympathize and approval of investors and community people. As far of this writing, these crypto coin keeps growing and wishing some will disappear especially those joke coins.

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October 08, 2018, 05:38:21 AM
 #14

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
Have you seen all of coins that have become the major crypto that give a lot of domination to the crypto? they are getting a lot of inspiration from that. Remember everybody wants to create his/he own idea and then try to implement it in our life. We know that so many people are still seeing about a lot of opportunities in the crypto.

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October 08, 2018, 06:54:16 AM
 #15

One coin cannot make a market! Wake up, it is impossible. You should know, that cryptocurrency works exactly in the same way as the traditional economic system does,

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October 08, 2018, 07:03:57 AM
 #16

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?


No, you only need crypto that can be use to grow up your business and alternative income activity. Have a lot of crypto is good but should fit with our need too much not good, specially at this time. Most people will chose 1 - 10 top coin from coinmarketcap and ignore rest of it. Besides that, have currency is more important than crypto. Think again before too late and good luck to you.

   
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October 08, 2018, 07:07:40 AM
 #17

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
Thats the thing with every business venture if I can put it that way. Like the industries you mentioned, we don't have only one operating in that sphere but we happen to chose the one we think gives us the most satisfaction of service so will be the crypto world. Yes, we will have more cryptos trying to do the same thing but i believe at the end of the day, you will invest on the one you think is most stable and different people have different opinions for investment.  
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October 08, 2018, 07:15:03 AM
 #18

Blockchain will disrupt these industries Banking and Payments, Insurance, Voting, Forecasting, Government, Crowdfunding, Retail, and Real Estate. Yes, we knew this that blockchain will play a big role in the future of those industries and it's a revolutionary.

But, do we need lots of cryptocurrencies?

More and more companies or startup companies were developing their own cryptocurrencies and a lot more in the future but what's the point of creating or developing it? Maybe we only need 1 for every industry but why does almost everyone develop their own cryptocurrency?
Have you seen all of coins that have become the major crypto that give a lot of domination to the crypto? they are getting a lot of inspiration from that. Remember everybody wants to create his/he own idea and then try to implement it in our life. We know that so many people are still seeing about a lot of opportunities in the crypto.

Definitely, there is lot of competition going on crypto. Everyone want to make a new altcoin in this market as they hope it will become popular after few years. Money matters these days this block chain technology will play a big role in humans life. There are lot of coins being developed but only few succeed.

   
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October 08, 2018, 07:58:07 AM
 #19

I dont agree that blockchain disrupt any sectors, it will help many sectors to become better and able to solve many problem, we actually don't need too many crypto, too many crypto with same usage will cause a weak crypto that will be abandon by the investors, each crypto for each sector for me is too crowded

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October 08, 2018, 08:08:53 AM
 #20

The amount of cryptocurrencies grows and to my mind it is very nice that we have this great amount because their fight will show which of them are strong or not.

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