Quote from: sh4dtechnr on August 28, 2018, 09:15:45 AM

Quote from: tee-rex on August 20, 2018, 07:54:49 AM

Well, this question is not so much about altcoins as such as about free and unrestricted competition between cryptocurrencies, by and large, bitcoin included. I think it is the first time in the modern history when it is possible to see how currencies can compete against each other without government intervention promoting one coin and trying to compromise another. If I'm not mistaken, right now we have over 1000 different cryptocurrencies. I don't know about you but to me it is an obvious overkill, a lot more than we will ever need, for real life. So how are things going to develop in the coming years? Will most of these currencies die out eventually and thus their total number is going to decline dramatically or will we always have an influx of a shitload of new coins?

What should we expect from cryptocurrencies on the scale of years or even decades? How many will be there and how many do we actually need?

Generally, competition is always good. Too many projects? if you do not take into account all the scams and fraudulent ico, then there will not be much left, firstly. secondly, blockchain can be used in various industries, from sports betting and games to construction, loans and insurance. it is possible even in political elections to use something like a blockchain, that's will be a bomb - a transparent, open to everyone, absolutely honest election system. in general, anywhere. life is very multifaceted and do not think that there are too many of these projects - they may be yet, vice versa, few. I think there are still many unrealized or just emerging now, today, here in the life of ideas and this is good.

But this topic is about altcoins, more specifically, about competition in the altcoin market. It is definitely not about politics and whatever the blockchain technology can be used for (apart from altcoins, obviously). The problem with this competition is that it looks like it can't weed out bad altcoins (shitcoins). So no matter how tough it migh be or become, there will always be a constant influx of new shitcoins. In this manner, coins that lose and are abandoned will be quickly replaced with new batches of trash, maybe, even less competitive but that won't matter either.

And this is the point that I want to discuss here.