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Author Topic: A coin that solves a problem won't die  (Read 494 times)
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November 26, 2019, 05:18:56 PM
 #21

In my opinion, any coin can die because there is competition. Even if a coin solves some problems and is successful, it can be replaced by a more successful coin with better ideas. Although in general I agree with you.

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November 26, 2019, 05:42:17 PM
 #22

In my opinion, any coin can die because there is competition. Even if a coin solves some problems and is successful, it can be replaced by a more successful coin with better ideas. Although in general I agree with you.

Your're point is valid since crypto is a free market wherein anyone can create a new project with same ideas but more developed compare to the old one. Competition is one of the main reason why we have many altcoins in the market so for developers aside from solving real-life problems they must be competitive also in order to stay long in the market.

 
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November 26, 2019, 05:43:02 PM
 #23

that is why we have so many altcoins right now. all existing coins initially want to solve some kind of problem, but half of them are lying and half are not. half of those who tell the truth - will not be able to survive due to competition and only a small part of those coins that we have now will survive and continue to benefit the cryptocurrency market and profit for investors

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November 26, 2019, 05:51:25 PM
 #24

valid point that is why i stand with all the top coin in the CMC. the first 100 coins in coinmarketcap offers a unique service different from each other. the rest are copy cats. the reason why most token dies is because the use case is not visible. most coins that made the first 100 coins without solving any problem natural die after much exposure because most are build on scams and pyramid scheme.

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November 26, 2019, 05:57:27 PM
 #25

That's correct. As long as the coin solves a problem, it is going to be used by the people more and its popularity will increase with time, and that's leading to increasing its trading volume as well. That's why all the successful recent ICOs have already a needed product to offer.

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November 26, 2019, 06:22:34 PM
 #26

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

You just said it all but funny enough most team or developers are yet to understand this hence the large number of fake projects coming up at the same time a large number dying as well. You can't offer something with no value and expect it to last, it will only last at the interim due to hype and once the hype is off the true nature will be revealed. The sad truth is, only few coins are actually worth it.

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November 26, 2019, 06:34:56 PM
 #27

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

Your point is valid.
Ethereum has something that BTC never had and it took the already defined structure of BTC and improved upon it. (Smart contracts)
So did XMR which focused on privacy.
TBH, the top 50 coins in coinmarketcap are more than enough to solve most of the problems in the crypto space.
The problem comes when there are so many releases of new coins which are technically a fork of an already existing coin with nothing new in features, just that it has a new name or a new algorithm.

Majority of coins are just peer to peer payment system nothing else and some are trying to give a solution that's entirely not feasible keeping in view the team behind the project. EOS is also a good project that is launched to solve the issue of scalability with DPoS consensus algorithm. There are gems but need our time and attention.

 
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November 26, 2019, 06:57:21 PM
 #28

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

You are totally right. And those that believe there will be only few coins are extremely delusional.  But. There will not be two coins that solves same problem. This is important. Well there will be just that one will have 99.9% market share and other will be just for fun.

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November 26, 2019, 07:35:34 PM
 #29

even if you are choosing a coin that solves the problem right now, it does not mean something better will not come up in the future.
yes you can choose a coin that has its use case but keep monitoring everything you have because something new might come up and replacing the old one that you currently have.

That's for sure. We see how fast cryptocurrency is developing. Even existing projects of coins and tokens regularly make changes and improvements, and this quite often causes our discontent. Therefore, competitors with improved functional characteristics will appear constantly, and if a cryptocurrency project was claimed first because of the usefulness of a working product, this does not mean that such a situation will always be maintained. There is competition everywhere, and especially in the cryptocurrency industry.

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November 26, 2019, 08:27:11 PM
 #30

This is absolutely true and from my point of view, the value token and platform brings is a points that makes much sense. Cause these days there are many solutions entering the market, however there are not so many that solve some tasks and have real value and real benefits
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November 26, 2019, 08:28:40 PM
 #31

This is absolutely true and from my point of view, the value token and platform brings is a points that makes much sense. Cause these days there are many solutions entering the market, however there are not so many that solve some tasks and have real value and real benefits

Afternoon everyone. Yes, I absolutely share your views. That's why there are ratings and more objective parameters that being taken into consideration, while analyzing one or another product. By the way, are you having many advanced platforms you follow these days?
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November 26, 2019, 08:30:53 PM
 #32

I want to proof a point
A coin that solves a problem can die if it does not adapt to changes and updates that happens around its blockchain world.

Bitcoin etherum and even xrp has adapted to different challenges over the years; and we have seen a token that solves problem die.

So project should not only solve problems
But adapt to changes, the world moves at a fast pace
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November 26, 2019, 08:32:54 PM
 #33

Okay, I would agree with op about the hypothetical coin that solves real world problems, but what about bitcoin?  It hasn't really solved a problem that has been plaguing the world for years, has it?  I fully understand its advantages, that it's bankless and doesn't depend on a gov't, but even in countries with hyperinflation it has not become a replacement for fiat.

Yet it's surviving.  It's doing so because it has proven to be a good investment, much like some of the bigger altcoins which also don't solve any real world problems.  A coin doesn't have to serve a purpose other than an investment in order to survive.  Bitcoin would have failed if that wasn't the case.
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November 26, 2019, 08:34:52 PM
 #34

Afternoon everyone. Yes, I absolutely share your views. That's why there are ratings and more objective parameters that being taken into consideration, while analyzing one or another product. By the way, are you having many advanced platforms you follow these days?

Nope, not many. Probably 2 or 3 maximum. I am having many points I pay attention to - from the idea to innovations, team, roadmap, practical value and adoption. How about you?
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November 26, 2019, 08:36:06 PM
 #35

Nope, not many. Probably 2 or 3 maximum. I am having many points I pay attention to - from the idea to innovations, team, roadmap, practical value and adoption. How about you?

Pretty similarly. And are there any examples you can come up with? Cause just curious to know the solutions you find being advanced. And of course, interested to have a look at them as well
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November 26, 2019, 08:42:57 PM
 #36

Pretty similarly. And are there any examples you can come up with? Cause just curious to know the solutions you find being advanced. And of course, interested to have a look at them as well

Hmm.. The most advanced one from the ones I follow today is definitely Housinet - have you heard of the guys already? In few words, Housinet is the entire ecosystem for everyone, who is already in / planning to acquaint with real estate and property management market. There are many different benefits and opportunities from monitoring downtimes to managing your rentals, setting right prices and much more. Kinda you get best of it. In my opinion, pretty innovative thing today
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November 26, 2019, 08:50:25 PM
 #37

Okay, I would agree with op about the hypothetical coin that solves real world problems, but what about bitcoin?  It hasn't really solved a problem that has been plaguing the world for years, has it?  I fully understand its advantages, that it's bankless and doesn't depend on a gov't, but even in countries with hyperinflation it has not become a replacement for fiat.

Yet it's surviving.  It's doing so because it has proven to be a good investment, much like some of the bigger altcoins which also don't solve any real world problems.  A coin doesn't have to serve a purpose other than an investment in order to survive.  Bitcoin would have failed if that wasn't the case.
problem solving is also measured by the range of periods and what has been done. bitcoin cannot be instant to move in more complex conditions. at least the rate of adoption and use is always increasing.

I think bitcoin is just a conductor where stable coins will be more useful for dealing with hyperinflation. this is related to backed up which is used to strengthen the initial value.

 
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November 26, 2019, 08:57:51 PM
 #38

To be honest we don't need much tokens around majority of these tokens are utility for payment purposes which can be done using Btc. Let's separate technology from tokens. Eth, XMR technology has nothing to do with their native tokens. Many people build upon eth network, that doesn't necessarily have anything to do with the native token.

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November 26, 2019, 09:18:19 PM
 #39

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that

So can you show me,what coins do you mean?
I hold bitcoin, ethereum and xrp for now,because in my opinion it can solve problems in the crypto space and the world.Maybe you can add another coin for recommendation to us and provide facts about how they solve problems in the crypto space and the world.

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November 26, 2019, 09:29:50 PM
 #40

Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that
I agree with you on this, but I have one question: What if there is better one in the future? The market has been developing every second, and none of us have been guaranteed as there will be no better in the future. Do not assume that any altcoin is the best and will live to the fullest. Today's best may be tomorrow's weakest.

 
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