This is really sad news for me, as Monero was the only crypto I was interested in buying and using.
The way I see it is the market cap for Monero will be split between the 5 coins so all of them will now go down ? I can't see every Monero owner keeping all 5 coins, and if the prices differ then there'll be a natural selection process and likely a couple of them will die anyway.
This is the reason I made my 'grey mush' prediction for crypto, we'll end up with 100,000 different currencies with the market cap spread between them all, so they'll all be worth just pennies each.
ps, I do appreciate my knowledge of such things as forks are very limited, so apologies if what I said doesn't many any sense lol
Bitcoin had several forks but still the original is first in market cap. Even bitcoin cash has some value to it. The point is one can never know if the forks will increase or decrease in value and only time will tell.
What I do agree with you is that there is a flood of coins on the market making it more difficult for coin prices to rise as capital is spread across more options.
There has to be a boom and bust for the crypto for people to learn and flush out the useless coins. That day is not upon us yet and not sure when that will happen but I most certainly feel it will have to happen.
that's exactly what I mean by my 'grey mush' hypothesis, only so much money to go around, with increasing number of things to spend it on means the vast majority will fail (unless there is a sudden interest from the general public, govs or city that can inject more money into the system).
that's something that no-one has been able to explain to me adequately, where is all the money coming from ? if you listen to the hype then every coin in existence is 'going to the moon' in the 'near future' lol. It's just basic economics, the money can't materialise out of nowhere, someone needs to be spending it somewhere.
I think the slow down in crypto is because supply has grossly exceeded demand. Literally everyone who is interested in crypto is already invested in it, so where are the new buyers coming from to push the prices up to the next levels ?
Sorry, am waffling again lol :-)
Monero V12 is the true Monero now. We don't have time to play with "your business supports Monero Classic but not Monero-Classic?"
One two or many coins it will be interesting to see how this all plays out. I definitely see your point with issues of having too many coins. Privacy and mixing up use of Monero are causes of concern.
Thanks for dropping by.
is it just me, or are there two coins with literally just a "-" separating their names ? Not very imaginitive, and am sure no-one will get confused at all by it :-) lol
LOL, that's really crazy! ;)