If I talk about 4-5 years ago.. there had been only few cryptocurrencies.. And now according to coinmarketcap list there is 1329 cryptocurrencies.. And day by day more cryptocurrency will be launched.. My question is.. is it good for the future of cryptocurency having so many cryotocurrecies in the market??
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I believe so, of course all will not make it big or be worth it, but it adds to the decentralized aspect of it all.
Thanks for your opinion!
I would not consider all those new coins to technically be currencies. They are simply tradeable tokens. Eventually the nomenclature will exist to split the difference between a tradable token and a true currency.
My prediction is that we will see Industry/Cartel crypotcurrencies. Imagine what would happen if OPEC banded together and created a centrally control blockchain similar to ripple. Something that couldn't be mined but could be controlled. The US Dollar would lose a substantial amount of power.