Ok so I will caviat this entire post with saying I am brand new to cryptocurrency. So new infact that while I knew what bitcoin was I had no clue how it worked what it was used for up until about a week ago. Within this last week I've learned alot. I had no idea there were so many out there! It's a bit overwhelming to be honest. But I'm learning and trying to do it quickly. I can't stand those who complain about those who have what they themselves don't have. Those that have put in the work the took the risks that made them who they are today.
That being said I think there are far to many cryptocurrency out there right now.if crypto is to be the wave of the future and replace fiat things will have to get simpler. The playing field will have to clear out a little bit. But hey maybe I'm just lost in the sauce because I'm so new and still know so little about this stuff
Welcome to crypto-land, my friend.
Regarding the amount of cryptocurrencies out there. It is a free market and anyone can set up a cryptocurrency. Expect a exponential growth of cryptocurrencies. I wouldn't be suprised me if every person or business issues a crypto. Let the market decide it's value.
I think a lot a people are aware that crypto and platforms in general need to simply to increase the adoption rate. Smart people like @xerox @dantheman @roelandp and @ned are working hard to make sure this happens.
I wouldn't be surprised to see that happen either however there is a huge problem with that. We here in the US experienced companies creating their own form of currency pre 1930s. You could buy everything you needed from the company store but you made only enough or not enough to buy the essentials. The companies would more then happily give you credit in the store in order to keep you in debt to them.
I try to focus on things which I can control.
Why would I buy something if I perhaps can grow it myself? If I can't control how much I earn, I'll make sure that I control how much I spend, to avoid going into debt.
I wasn't aware that even companies in the US were allowed to issue their own currency pre 1930 because it obviously violates Article 1 section 10 of the US Constitution. I guess that after 1913 it all went downhill.