Re: Should there be that many cryptocurrencies that exists?
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.
last time i checked, there were over 2000 listed on coinmarketcap. people just won't stop cranking them out.
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 there's nothing to stop anyone from creating new cryptocurrencies---except lack of demand.
if someone wants to fork a coin or spin up an ICO token to raise some funds, they should be able to. we wouldn't want it any other way. it shouldn't be up to me or you to decide how many altcoins should exist. it should be up to the market!