Should there be that many cryptocurrencies that exists?

[Yshakov.v]

I think you asked a very interesting question. It is very difficult to answer your question. I think no one can answer your question.

[marufnang]

Since so many people/group wanted to make their own private cyrptocurrency for their project/company.
That is what makes there are so many new cyrptocurrency being created.
I think utilizing existing coins already suitable if its only be used as the way to collect funding.

[djgtr]

It has its pros and cons.

The positive side is that for a trader the more the coin there is the better chances of winning. Especially on those startup coins. They can give lots of room for profits.

The negative side is that most of the coins are just there for us to speculate. Over time, It overpopulates the market with coins that don't have value.

That is life if you are going to indulge yourself into different or particular activity you should look for the pros and cons or advantages and disadvantages that might bring of it. In trading it needs to clarify clearly what will be the result so that you will be able to distinguish what to do. The decision making will bring you to positive and both negative as well.

[graminfodiff]

m-m... what to buy at now?

[ninetimu]

I think now it makes no sense to sell something

[much_word]

As of August 2018, there are over 1600 cryptocurrencies that exist, according to Wikipedia. I know that Wikipedia isn't the most reliable of sources because anyone can edit it whenever they want, but the point is the number of cryptocurrencies being introduced. Some of the new cryptocurrencies I've heard were DeepBrainChain, ByteCoin, IOST, and Elastos. There's also a new coin called Virie, which is apparently a cryptocurrency used to crowdfund and jumpstart the Virternity Project, a project that aims to digitized our minds, economy and the society. I believe that not all new coins aim to scam people, but do we really need more cryptocurrencies? Do we need new cryptocurrencies for every project that exists? Why can't there be one or five cryptocurrencies that all projects can use?

I've heard of Virie as well.. and i think that they are actually doing quite good at the moment.
As of, on or max 5 cryptocurrencies.. i think that's easier for people to understand this mecca of online coins. I think that more and more people get lost in their online research and get unsure on which to invest and what to do with their investment, how trading works and how everything helps them. Also.. most of people don't really know what block chain means or is.. and also everybody thinks that all the online investments are some sort of scams by the end of the day.
So, in order to be able to have one unique currency, i think we should first educate the consumers and then unite as many currencies in order to have less on the market. Also, by putting together more currencies i can only guess that they will become more valuable and also governments will gain their trust and so we will have worldwide crypto payments made legal.
On the other hand, what the Virternity project aims is a really cool thing. I've been researching about it, read their book/project and i really hope there is a future for the idea.
An owners free world is what i've always dreamed of! Don't you?