We have too many different cryptocurrency coins already

I grew up in a third world country and the best president we ever had was a dictator. I say this because during his time in 1972 to 1986 as president 1 dollar was equal to 2 Pesos.

After he was ousted, his successors allowed too many forks of anything, protests here and there where we cant move houses to develop wider roads, it also lead good projects like nuclear plants to be abandoned and there were many different projects trying to do the same thing.
1 dollar now is equal to 51 Pesos.

How many cryptocurrency coins do we really want?

At coinmarketcap, there already more than 500 cryptos.
We have more supply than demand because of the creation of too many different cryptos and we should not add anymore to that by forking.

I also noticed that every time KMD or ZEN goes green ZEC turns to red and vice versa.

I agree that there are too many currencies today, but than again that’s how a free market works.

Everybody is able to create whatever he wants and at a later point point the market itself will decide which product survives and which will die. Working as intended in my opinion.

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It’s about individual benefit and interests most of the time, there is no common goal as I myself use XRP to send money abroad.

I do not like XRP but bec of the low fees and I do not have much to send, so, transaction fee then matters bec if I use Bitcoin even with SegWit bench32, it is still costing me a lot more.
I can live with ZECs transaction fee, but the issue is it’s not available at Coins.ph ( the only reliable exchange in the Philippines that will deliver fiat equivalent to individual homes). Anyway that’s how it works there, fiat is delivered to homes by a person sent from the exchange.

I think the main focus of this group should not be about forking but marketing and how we can connect more to more exchanges and companies that can deliver this crypto for actual use cases.

It’s unbelievable what cheap labor can do like how the currency exchanges in the Philippines can afford to send drivers to deliver fiat currency of small amount to individual homes or how a massage therapist there works 8 hours for 500 Pesos (10 dollars) per day or the availability of 12 nurses that are required to attend to 12 chronic dialysis patients there as compared to here in the US where bec high labor cost, 1 nurse to 12 patients.

I’m bringing this up bec I’m trying to understand how knowledgable Marketing in Zcash is as far as global zones and how crytocurrency can be utilized.

I’m not an expert in Business or Marketing, in fact, I worked in electronics and now working in healthcare all my life.
These are just my observations.
I have to say thought that in everything I pursued, I did well utilizing what I had available.

I agree that there are too many currencies today, 2186 coin on coinmarketcap. why?

Inflation. And a lot are useless like I’m using more Bitcoin now and not XRP despite the transaction fee being more with Bitcoin bec everytime I send XRP to the Philippines, Coins.ph will not convert that to fiat, I first need to convert XRP to Bitcoin in their platform then to fiat (Pesos) in order for my recepient there to receive it.
So, we actually need Zcash to be straight convertible directly to fiat in other countries also to utilize its privacy feature.
Also it is too complicated for me to count my money with conversions from XRP to Bitcoin to fiat, the exchange rates become tricky and with hidden agenda. I rather have a straight conversion from crypto to fiat rather than crypto to crypto to fiat.

Interesting topic! It’s a pity there aren’t many replies here. I started using cryptocurrency not long ago. Now I use only Bitcoin, but I’m thinking about trying Ethereum and Altcoin. So, my list will have three coins soon :slightly_smiling_face:

Hey @Shantel444, welcome to the forum!

“Altcoin” is a generic term that refers to any cryptocurrency other than Bitcoin (BTC). Ethereum (ETH) is the largest altcoin by market cap and developer community so it’s a good choice, but I’d also recommend buying some Zcash (ZEC) as well. Cheers!

You need to filter out all the bogus/questionable coins. On messari.io, I can filter by “Launch Style”, selecting for “Fair Launch”, with or without Built-in Treasury.

That leaves you with the quite manageable list


Admittedly, that excludes many coins for which messari has yet to correctly assess the Launch Style, but it’s a good start.

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