It's strange to me that crypto enthusiasts don't see the problem with ten thousand different blockchains in the market trying to pass off what is by-and-large the same technology in a different box. And because of speculation, branding plays a role in giving scams and shitcoins legitimacy. Unless you can improve upon the blockchain in a way that isn't a gimmick or redundant, but a legitimate improvement--then by all means, invent away. But there simply are not going to be 1000 coins on the market once blockchain technology has truly met it's mainstream adoption.
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Very Good Points! Still is a unique Idea and unfortunately we need to go thru the fake ones to get the legitimate coins that will improve upon the blockhain!
True. It is like free speech. You gotta take the bad with the good and hope that people will know the difference.
However, with many people learning how to start coins etc, the whole community raises its level of understanding and insight around blockchain
But does that change the fact of an alt being a shitcoin in terms of actual value? Feeling good may be valuable--but is it stable?
The main value most shitcoins has is in their low market caps, making them easy targets for pump and dumps. A tiny amount of money and effort going towards a social media campaign, slowly accumulate holdings, and then unleash the flood once you start pumping the price up and leave clueless people holding the bag. People are making digital billions at the expense of the less-connected, under-educated masses.
That is speculative value... But many altcoins have inherent value and will endure as mediums of exchange and stores of value.
I guess each coin has to show its own potential but I totally see thousands of niches with their own SMTs used in ten thousands of ways. When you trade between so many coins you will just automatically trade with current market values which will always be defined by the free market.
Don't underestimate what it's worth to people to trade in their own economy currency. It doesn't matter if much money goes into it because it can provide for a few on a smaller basis within its own community. I think that will be revolutionary.
The mainstream might adopt just one or three coins but we will see a totally tokenized world in my opinion with so many variations that nobody could ever keep track of anymore.
Here is what I think it is worth for people to trade in their own economy currency: nothing. In fact, it is actually costly because I have to exchange for another currency in each new market in which I want to transact. The tokenized world will be the mainstream coins, because there is not a need for so many choices of mediums to serve the same functions. That is why Chuck E. Cheese tokens can't buy me weed, no matter how persuasive I am with my dealer. But she accepts BTC...