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Author Topic: World economy would benefit if all crypto work together  (Read 532 times)
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February 21, 2020, 01:55:19 AM
 #1

If the crypto projects were working in collaboration more often, then the whole crypto community would achieve bigger accomplishments all at once!
Synergy would be on the side of cryptos if that were the case, we see these days many projects working on their own each of them having as result longer periods of releasing updates and new features.

It is time to find ideas and bring teams together and work smart rather than hard. With collaboration among team projects like Lightning network, bitcoin smart contracts, ETH scalability, and many features could be ready for the masses sooner and the global economy would have a big positive impact!

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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February 21, 2020, 07:48:13 AM
 #2

If the crypto projects were working in collaboration more often, then the whole crypto community would achieve bigger accomplishments all at once!
Synergy would be on the side of cryptos if that were the case, we see these days many projects working on their own each of them having as result longer periods of releasing updates and new features.

It is time to find ideas and bring teams together and work smart rather than hard. With collaboration among team projects like Lightning network, bitcoin smart contracts, ETH scalability, and many features could be ready for the masses sooner and the global economy would have a big positive impact!
Not sure collaboration is possible in cryptos between projects because coins using different blockchain so its not possible to merge them but we don't need that much amount of cryptos just eliminate all the shit projects and just keep 10 best projects of all time so from this capital amount won't get diversified,new projects scam will be eliminated then cryptos will gain trust more than from now and people will start using cryptos for everything.
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February 21, 2020, 09:09:26 AM
 #3

Unfortunately people use Bitcoin- Altcoins pair , the percentage of people using particular coin at that moment creates competition therefore companies are always striving to be the best in their feild. It's inevitable b, it's like how the stock market works , it's always about competition , value of their coin and updates.
Also this competition serves the customers very good , at the end you are getting a product which have gone through many stages , it's good for the market.
Am afraid your idea is right but I don't think that would happen.

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February 21, 2020, 10:16:24 AM
 #4

If the crypto projects were working in collaboration more often, then the whole crypto community would achieve bigger accomplishments all at once!
Seems optimistic but problem is that most altcoin projects are designed to be hidden pump and dump schemes. The fools who invest in those are going to lose big time while the owners become rich. Do you expect the owners to be in it for the tech or the bigger picture? You are wrong if you think that. Of course not all of them are bad.

Quote
Synergy would be on the side of cryptos if that were the case, we see these days many projects working on their own each of them having as result longer periods of releasing updates and new features.
But are they working on any? In a true sense bitcoin is the only cryptocurrency the public needs. Rest of them are like sideliners with no function and adds in redudancy which people try to justify using flawed logic.

Quote
It is time to find ideas and bring teams together and work smart rather than hard. With collaboration among team projects like Lightning network, bitcoin smart contracts, ETH scalability, and many features could be ready for the masses sooner and the global economy would have a big positive impact!
What is needed is adoption and use of bitcoin. No need for any altcoin to be there. Lets hope for the better but altcoins will not be anything big in the long run. Bitcoin is and the first and the leader.

R


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February 21, 2020, 10:44:05 AM
 #5

Agreed.
Better to build separately but still co-operating though to avoid centralization. Developers should probably focus more on creating cryptocurrencies that are interoperable or "compatible" with one another. People should welcome other projects as long as they're built on Blockchain principles, are safe, interoperable etc.
I don't think it's a good idea to mix both worlds(centralized & decentralized) though. There should be serious & transparent checks and balances carried out by everyone in both. This will be hard to accomplish in centralized settings.
People should not be discouraged from building good and useful things especially through transparent and safe crowdfunding method. Everyone should be allowed to contribute to the funding of decentralized projects.
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February 21, 2020, 01:25:05 PM
 #6

99% of altcoins have achieved nothing, they are just useless forks with no real development. So, even if you take all their developers and make them work on a single project, it wouldn't yield much results. As for the productive part of crypto, more developers doesn't mean significantly faster development. When it comes to cutting edge research and development, things tend to move slowly even with enough resources.

And development doesn't hold crypto back from mass adoption, it's already very much usable, but for other reasons people choose not to adopt it yet.

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February 21, 2020, 01:57:48 PM
 #7

I think it is difficult to unite all crypto developer in one big project to succeeding the crypto to all countries because every project has its own goals. They want to achieve what they want, and each project has different ways. We can take an example from each project because we already see that many people in one project have different vision on the inside the project itself so that can not work until the project can reach their goals.

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February 21, 2020, 06:11:23 PM
 #8

Many altcoin projects are schemes to make them developers rich. Therefore, stopping investing in it is the beginning of cooperation to establish a currency or several currencies with a strong base of development and a lot of trading volumes.
If you notice them, many people do not really believe in the currencies they are promoting.
Regarding BTC, the basic development is done on it and the rest of the currencies are duplicates.

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February 21, 2020, 07:24:47 PM
 #9

If the crypto projects were working in collaboration more often, then the whole crypto community would achieve bigger accomplishments all at once!
Synergy would be on the side of cryptos if that were the case, we see these days many projects working on their own each of them having as result longer periods of releasing updates and new features.

It is time to find ideas and bring teams together and work smart rather than hard. With collaboration among team projects like Lightning network, bitcoin smart contracts, ETH scalability, and many features could be ready for the masses sooner and the global economy would have a big positive impact!
I think you are making one big assumption, it seems you think the majority of the projects are trying to move the market of cryptocurrencies forward and I do not see it that way, most projects in the market have only one goal and that is to advance the interest of the developers, they are not interested in collaborating with anyone or to create a coin that will actually work and bring something to the community, under those conditions then most developers are not really interested in working for a common goal.

The rest of the developers that care about their coins and the community do not really need to work together, as soon as one team of developers have a good idea the rest could always take inspiration on it and then implement that idea in their coin.

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February 21, 2020, 11:23:26 PM
 #10

If the crypto projects were working in collaboration more often, then the whole crypto community would achieve bigger accomplishments all at once!
Synergy would be on the side of cryptos if that were the case, we see these days many projects working on their own each of them having as result longer periods of releasing updates and new features.

It is time to find ideas and bring teams together and work smart rather than hard. With collaboration among team projects like Lightning network, bitcoin smart contracts, ETH scalability, and many features could be ready for the masses sooner and the global economy would have a big positive impact!
Not sure collaboration is possible in cryptos between projects because coins using different blockchain so its not possible to merge them but we don't need that much amount of cryptos just eliminate all the shit projects and just keep 10 best projects of all time so from this capital amount won't get diversified,new projects scam will be eliminated then cryptos will gain trust more than from now and people will start using cryptos for everything.

That's right that as crypto develops, there are also coins that doesn't contribute to the improvement of cryptocurrency in the world. Those shitcoins are continuously existing and we have something that already share part in the market. We should eliminate those first before working all crypto together. But we should always secure that the crypto we will use are those reliable and effective. Some of these are bitcoin, ETH, XRP, EOS and etc. Maybe if we continue to make this happen that it will completely dominate the world's economy maybe we will have a good time using cryptocurrency and make a big profit out of it.

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February 22, 2020, 02:59:57 AM
 #11

Looks very optimistic, but how to unite many thoughts about crypto it is very difficult and arguably impossible, different views not only on the desire to make crypto like in the future but also differences in perspective that many think crypto is only a tool to make it rich in a way make a lot of projects that the ultimate goal is only to get money from investors.

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February 22, 2020, 04:36:14 AM
 #12

It basically won't happen this time. But when everything has been proposed and it's still not working, these developers of projects will soon turn their back to what they have developed and might just support one cryptocurrency and that's bitcoin.

That time will come but there's no definite time when it shall happen. But seeing that everybody to unite and mostly these developers, we will not see this in an instant. It's about competition and the potential profit that they shall get.

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February 22, 2020, 05:09:42 AM
 #13

Sorry to burst your bubble but most of the cryptocurrencies in existence are created out of thin air without proper valuation. If they were to band and do stuff together in order to make the world better, perhaps that would be cool. But for the world economy to get better, certain financial policies must be overturned and replaced with efficient ones, things which obviously no crypto could ever handle. As was always said a million times, crypto isn't a miracle-creating tool. It's just another financial asset/tool which people can use.

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February 22, 2020, 06:25:21 AM
 #14

Well, some projects sometimes introduce their partnership from other crypto projects to convince investors that their projects are really high quality. I think this exploration will improve the world economy. it's just that, there will be side effects from this, namely, some altcoins will fall due to competition, and I think only projects that already have named will do the collaboration. small projects will not be able to develop, and I think there are many other side effects that can arise.

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TheUltraElite
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February 22, 2020, 08:50:03 AM
 #15

It basically won't happen this time. But when everything has been proposed and it's still not working, these developers of projects will soon turn their back to what they have developed and might just support one cryptocurrency and that's bitcoin.
It wont happen at any time. Not even in future will we see a certain project outrun BTC. The only people saying so are the fools who were fooled into buying some shitcoin and are now wading in deep waters to sell their coin and crying to not find a decent buy order. It sucks to be them, but it is the effect of their flawed decisions. Hope they learn a lesson.

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That time will come but there's no definite time when it shall happen. But seeing that everybody to unite and mostly these developers, we will not see this in an instant. It's about competition and the potential profit that they shall get.
Bitcoin has the long term holding effect there. Altcoins mainly have been pump and dump and not something to hold for long term.

R


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Wexnident
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February 22, 2020, 11:05:31 AM
 #16

It isn't just the crypto scene though. If literally everyone in the world cooperated to develop tech, while sharing research developments and information together, heck, the world might have been quite different from what it is today. The world would probably have not developed weapons of war (or at least, weapons used against other humans) and would have solely concentrated on developing tech for the improvement of quality of life of human beings.

Sad to say, the world didn't become like that. They took priority in the past to develop weapons of war, and once a country has achieved a certain level, other countries have to achieve the same, so as to achieve equilibrium. So far, the world of today is like that, even with the uneven powers in the world, all because of agreements and contracts, as well as no single country could overwhelm the cooperation of the vast majority of others.


R


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February 23, 2020, 08:44:06 AM
 #17

I have always thought of this, but I can’t really tell how that is going to benefit the economy. But, I do believe that it’s going to make things a lot better in the crypto community and there wouldn’t be lots of scam projects.

I have always wanted all these companies and organisations that are creating their own tokens to be making use of bitcoin instead of creating their own personal tokens, that would help to promote Bitcoin and make people to adopt it. But the truth is that these companies will never agree because they know that if they don’t create their own cryptocurrency or tokens, they wouldn’t make a lot of money as they would now. So I am not even going to say that’s going to happen, it’s never going to happen.
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February 23, 2020, 12:00:09 PM
 #18

Well, some projects sometimes introduce their partnership from other crypto projects to convince investors that their projects are really high quality. I think this exploration will improve the world economy. it's just that, there will be side effects from this, namely, some altcoins will fall due to competition, and I think only projects that already have named will do the collaboration. small projects will not be able to develop, and I think there are many other side effects that can arise.
collaboration with large successful projects before can indeed attract investors to succeed their projects, so that many people will believe because they have established partnerships with large projects, so this can ensure that the project is truly quality, with so many relationships the projects can develop together

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February 23, 2020, 01:21:49 PM
 #19

Well, some projects sometimes introduce their partnership from other crypto projects to convince investors that their projects are really high quality. I think this exploration will improve the world economy. it's just that, there will be side effects from this, namely, some altcoins will fall due to competition, and I think only projects that already have named will do the collaboration. small projects will not be able to develop, and I think there are many other side effects that can arise.
collaboration with large successful projects before can indeed attract investors to succeed their projects, so that many people will believe because they have established partnerships with large projects, so this can ensure that the project is truly quality, with so many relationships the projects can develop together

All crypto should work as one so that people who uses each kind of coins will help each other grow and promote bitcoin as soon as they work. Collaboration of coins will make people invest more when they know that their are someone who will support them in making investment in crypto. Most of the people are just not that knowledgeable about the coins so those professional user of coins like BTC, ETH, XRP and etc., should enlighten those people so that they know what will they do to use crypto and what can they do to the market. They will surely make a big impact to the World economy as they start using some platform in cryptocurrency.
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February 23, 2020, 01:24:55 PM
 #20

It would be possible if different projects collaborate if they have same goals or intentions. This type of move by projects can also gain more attention and helps achieve high success rate, specially during bear seasons.
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