Do we really need a lot of Cryptocurrencies?

[laurakim]

There are a lot of cryptocurrencies nowadays but but only a very small number of them will succeed and these altcoin will be destroyed soon. So i don't think we should worry about it

[RandyMagnum]

A person decides to himself whether hi need tokens in his portfolio or not. A lot of currencies in world economy don't force you to use them.

Agree with you, a lot of cryptocurrencies not bad at all, if the project have strong community ready to use the product why it cant exist? The more competitors the better result.

[arion6868]

the main reason i think is because the cyptocurrecy itself wanna earn for "their own" benifits, or income

[oioioi]

Cryptocurrency is predicted to be the driver of the global market in the future, no wonder so many have tried to develop cryptocurrency but eventually die because they have not been too strong to compete with cryptocurrency which has long been developing and has a well-known name, and certainly at a good price. actually do not need a lot of cryptocurrency if it eventually dies and harms many parties, it only needs some of the strongest

[santino11]

This is a question like others.

Do we need a different kind of FIAT for every country?
Do we need different brands of soap or milk?
Do we need a different company for a single brand?
We need more cryptocurrency to support many projects, for the development of the world.

[Lyd]

I think we don't need all the cryptocurrencies but we definitely really need the ones with strong and stable projects. They will bring benefits to us.

[gopherberry]

As time passes cryptocurrency gains popularity and thus more and more variations are available, this might seem a lot but because of the amount, we are left with a larger number of choices than being limited by it because of the lack of it. But who knows for sure? maybe that'll change too.

[JustinLOX]

A lot of cryptocurrency is needed or the market will be dominated by some particular currencies. The competiton is necessary at this early stage of crypto market. And this competiton also force the coins to present us better services.

[fuer44]

no, actually we only need fewer crypto in the market. the number of companies that always make their new crypto, actually makes the market more crypto, and the price is always low.

[1993jochico]

In any business there is competition theres unhealthy and healthy competition they can easily make another cryptocurrency everyday but only a good project value will remain.

Do we need it?

For me, yes if theres a healthy competition in the industry there will be large amount of community and good circulation of a currency.

[MaggieArroyo]

Cryptocurrency is still at it's earlier stage so we need many cryptocurrency. We do not need much but need the quality and usability of altcoin or token.

[skylar]

Sometimes we need lot of cryptocurrency just to make few of it become on top crypto. To be honest we just need few of it but the competition are great when the participants are large in number. Only cryptocurrency who can make mass adoption are survive IMO, the others will turn into dust.

[1to2Game]

The more the merrier, some eventually will stick. Altho I don't think it will be any existing one at the moment.

[Cointoli]

Sometimes we need lot of cryptocurrency just to make few of it become on top crypto. To be honest we just need few of it but the competition are great when the participants are large in number. Only cryptocurrency who can make mass adoption are survive IMO, the others will turn into dust.

Many coins have been formed to help the cryptocurrency market become more diversified and richer, which also contributes to the market's development. But there are too many new coins appearing but poor quality and no good management team also cause many difficulties for investors. Look carefully at the coin you want to invest to minimize the risk.

[deeofficialx]

...there are still many problems that needs to be fix...

Yes, even Bitcoin, that we--said to be the King--has a particular bug that gave every bitcoin core user a bit of a goosebumps. *Ohhh*

Cryptocurrencies, or the Blockchain itself are still immature. That kind of technology needs a lot more year to be develop in a better and useful way.

[restuibu]

yes we need a lot of cryptocurrency in the future and for that now we have to be more active at work we will be able to enjoy in the future ..
Maybe we only need 1 for every industry but why does everyone develop their own cryptocurrency? because they want to compete in crypto and want to be the best
example: why are many car manufacturers now with many products? why don't they build 1 car factory?
  >> of course because they want to be the best

[suzanne5223]

I believed we need a lot of crypto currencies and if we don't need it there won't have some debating right before Satoshi implemented bitcoin which happen to be the  main reason behind ths altcoin we see today. Besides, there is nothing bad in having many coins since it have something good to add to the block chain network.

[drixty]

Personally, I don’t think we need massive billion dollar projects to increase “awareness and acceptance”. What we could really use are good ideas, which actually make sense of how the blockchain could be used for governance (and not only infrastructure) and start distributing benefits among all community members.

[sehoon]

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?

There is no need for the increase of number of cryptocurrencies and there is also no need for the decrease. If they want to produce new cryptocurrencies, they have to make sure that the coins they're making are not shit. Because shit coins will only confuse people and make other people's research a waste of time.

[Grim149x]

I think not especially because most of the cryptocurrencies I have seen are either scams, incompetent, and replicas. To achieve mass adoption these people making these crypto currencies must be
 collaborating and are envisioning the future and not just the monetary gains.