How many cryptocurrencies are needed in the world?

At Citicoins.com, a cryptocurrency marketplace, including Bitcoin, there have been 18 cryptocurrencies with a market capitalization of over one billion U.S. dollars. In addition, 831 cryptocurrencies have a market value of over one million U.S. dollars.

 

So many kinds of cryptocurrency can not avoid people's doubts:

Does the world need so many cryptocurrency varieties?

Will there be a dominance in the cryptocurrency market at the end? Will a new currency defeat all previous currencies? Or are all these currencies able to prosper together? Look at the currencies below, and you may already have answers in mind.

Bubble

 

aseancoin

 

 

First of all, I think that the explosive growth of the cryptocurrency in 2017 will bring too much bubble to this market. Most of the people involved in ico have suffered losses of varying degrees. Warren Buffett once expressed publicly at the 2018 annual shareholder meeting of Berkshire Hathaway that the cryptocurrency is not optimistic

As I mentioned before, we should not participate in the ICO because most of us are incapable of distinguishing whether a project is a scam. For example, investing in bitserial and antimatter is undoubtedly unwise.

Before blockchain technology matures, if you don't have the relevant expertise, forget about the blockchain, it's just a slow and expensive database.

The fundamental reason why we need cryptocurrencies is that the more people we integrate into the global economy, the faster the economic growth.

The reason we need cryptocurrency is simple, and we don't need so many cryptocurrencies.