Crypto Currencies - Who will stay and Who will fall?

in #cryptocurrency7 years ago

This post is not about predicting the future of any particular cryptocurrency. It is a perception of the overall trend and making a basic human assumption of what can happen.

CoinMarketCap.com is listing 1534 cryptocurrencies as of 03 March,2018. The rate of growth in terms of new entrants into the market is increasing every day. This explains that we can easily see more than 3000 cryptocurrencies probably by the end of 2018 or even earlier.

As we move further, every organization or individual might release their own coins/tokens and declare that as their means to transact with them. If that happens, we will see a billion currencies in circulation with their own market caps. Since the whole market is working on the concept of Demand vs Supply, only the highly demanded currencies may stay and the rest may fall out.

Based on this analysis, Can we say that the cryptos that only have a bigger community are going to survive?

That makes it a challenge for the ones with smaller communities and specific purpose oriented cryptos to survive, so the fundamental requirement for any cryptocurrency has to start with building a community around the currency. Not just one but many communities that increases the user base.

This becomes a key factor to determine the currencies that are worth investing in based on the community they are trying to build. Technology can change or be upgraded, new features may be added, but the bond between users and products makes the difference.

These are just my thoughts, I would love to hear more from the community.