Should there be that many cryptocurrencies that exists?

[raven.tiu17]

Actually we will have hundreds of thousands of ICO that will listing on CMC in the next few months and years. So be more attentive on this one. Coz more companies will create their token to incentivize  by using the blockchain technology.

[castiloros]

No one knows which coins could be good and somehow the coins which will follow in the footsteps of bitcoin. many new cryptos may have the impact of good and bad. but this will give you good results because a lot of the new technology gives certainly crypto. of that will be identified which coins could be best not even impossible to beat its predecessor.

[vicvicto17]

Yes there will be many Cryptocurrencies that will exist as long the project has real use cases then this is part of revolutionary platform. As CZ said CEO of Binance there will be more cryptocurrencies that will exist and most of this coins are back up by different kinds of industry.

[whaawh]

Yes there will be many Cryptocurrencies that will exist as long the project has real use cases then this is part of revolutionary platform. As CZ said CEO of Binance there will be more cryptocurrencies that will exist and most of this coins are back up by different kinds of industry.

It seems to me that today there will be quite a lot of development of the project, but in any case only those who the community will trust and whose project will be in demand the most will remain .

[Matthewmorris4]

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?

because everyone wants to be a boss, even though they don't have the intention to do a scam. The problem is that each token has a different function, so they always release new companies and have the product that is seeded. maybe in the future we will see useless tokens which will be converted into one new thing

[bittick]

Actually we will have hundreds of thousands of ICO that will listing on CMC in the next few months and years. So be more attentive on this one. Coz more companies will create their token to incentivize  by using the blockchain technology.

Pretty much like stock, everyone are trying to do IPO while most of them im sure will be failed because it's natural selection. ICO is no different, people would eventually realize that ICO is no different than IPO in term of crowdfunding.

[pacman7331]

I think at this moment, the crypto market has more than 2K Coins! But how many coins you have known yet? A very few of course. Even most of the coins we don't know their name. That's why sometimes I feel we need regulations in the crypto industry. So, 1600 or 2K just a number, after a few years, lots of coins will be dead or scam or vanish!

[JollyGood]

Yes why not. for each case to argue they should not, there will be a case to say they should.

[CryptoToxicAvenger]

No, a lot of coins won't do any good. Better they will be few, but such who have a good working draft. For coins the main thing that it can be used.

[passwordnow]

No, a lot of coins won't do any good. Better they will be few, but such who have a good working draft. For coins the main thing that it can be used.

Having a mass of coins isn't really good.

But somehow I'm looking to the positive effect of it that most of them will still fall to bitcoin if they will start selling those coins.

[andthereyou]

Yes as there were many different people with different ideas, they saw this as an opportunity to raise money through ICO and started their own company.  Thus today there are many cryptocurrency that exist. But projects that has no working product or has a useless working product will eventually fail. It's like survival of the fittest.

[sourish]

Crypto still being in a nascent stage, this is bound to happen. For in all these new cryptos only a few will successfully survive.

[Trinity_boy]

Well I guess everyone wants to have their own identity in the financial system in the form of their own cryptocurrency and of course, each one promises to be be better than the other so it's just really up to us to identify which ones is worth getting into and which ones are not. Let's allow them to develop whatever currency they want because in the first place, we don't have the right nor the means to stop them, do we?

[Hustinog]

No, it should not be. What can we do about those other cryptocurrencies if it does nothing to the cryptocurrency? I like the idea of the you should always look for the quality and set aside the quantity. It is applicable for all things such as here. You will manipulate the most profitable ofcourse because all we want here is to make the cryptoworld healthy. We must disregard the other coins.

[Mishgan27]

view all the coins that are on the stock exchange on mainmarket. and also on the form of new projects. each project wants its own coin, it is clear. it's trendy. although a large number of disadvantages, it still gives competition.

[charlotte04]

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?

No I think it shouldn't be that way because that it the cause the many people are afraid to invest in crypto. And people always make that coin in order for them to get money from other people for their own agenda.

[Alliipp]

if now there are indeed many cryptocurencies that appear but they are of less quality, unlike the previous ones, cryptocurency with not too many participants but their coins weigh.

[vanya.pronin.1983]

I also find, that there are too much crypto currencies on the market and they are going to become even more, because there is still enough ongoing ICOs. But I think we should ban all the projects that do not have a working product a year after the ICO.

[confreslamp]

Absolutely not, but people are still investing in everything or have invested till August. Thats why we have such a variety of coins and I am sure that at least 50 percent will never develop anything and will quit without any product.

[Atomic.2017]

So what if there are million different types of cryptos? You are not required to invest in all of those. Just choose which one has to most potential based on your own analysis although sometimes, the newer ones are better. Just use your good judgement whatsoever.