We can see tokens being created and used for so many reasons. Companies are creating their own token for their own work, some companies are even popular because they distribute their free worthless token and people trade it for real value. Do we really need so many tokens?
The mission of crypto is to out run current corrupt and old financial system and make a new decentralized and transparent currency. Creating tokens for everything is like creating your own money for your need. Let's make @teamnepal token and if you need to pay me, pay me in that token. This system will never work. Why will people even need to buy bitdegree coin to buy a course? Why people need to buy carverticle token to pay for cars, why power ledger token is required, why btt, why etn and a huge list.
This is all becoming mess, we are fighting against each other and support our coin, we want decentralized payment system for world right? Nowadays cryptocurrencies are like source of income for blockchain company. Oh, we made a cool blockchain app? Let's make a token so we can sell our useless token and make some money.
There are some coins which are really required in my opinion, like steem. Steem is required because steem is generated within the reward pool and distributed. Unlike bitdegree (for example) where you need to buy coins and pay for content, you won't directly give your tokens for steem and there is no chance of using bitcoin instead of steem which we can do in bitdegree.
Some platform coins like Ethereum and Cardano are also required but we must find a solution to make them decentralized. Exchange coins are also not required in my opinion because Binance can reduce the fee while paying in bitcoin instead of reducing fees while paying in bnb.
Masternood coins are no different. They are giving more of their coin for their holders. lol
Privacy coins are required but when we finally find a way to make bitcoin private itself I don't think we will need it anymore.
Why bitcoin, not other coins?
Bitcoin is the only close to decentralized cryptocurrency. Let me give you example of steem or weku or whaleshares. If team wants to take control over the platform, they can. Just vote all witnesses and they are now in control, no one will be able to resist that. For pow coins, it is easy to 51% attack any coins than bitcoin, it might change but the fact that team keep more than 80% of supply won't change. Team may dump their coins and we are gone, it won't happen with bitcoin.
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