You are viewing a single comment's thread from:
RE: ETH Fork 16th Jan / EOS and Iran First Fiat Stablecoin
what is the running total of cryptos in existence... 1,000.... 10,000? how many before it got totally stupid ?? ty
what is the running total of cryptos in existence... 1,000.... 10,000? how many before it got totally stupid ?? ty
Coinmarketcap.com (CMC) is one source of supposedly pay to play but CMC says it’s not pay to play list. If you go by their list, it’s currently 2094 (see their top front page and look at “crypto currencies” at the top”
However, CMC’s incentives are a little skewed, and there have been charges against them levied here and there. So I don’t know what to believe.
Enter Cointracking.info (see end of my comment for a 10% discount link that is also a referral link for me). Their incentive is to give as many currencies as possible, since they have a freemium model - give some services for free with the hopes that enough people choose to subscribe to premium membership to help them pay bills and make a profit.
Cointracking.info - (this contains the 10% discount/affiliate link) has collected and maintains prices on more than 6300 coins and tokens. It has to - Cointracking’s service is all about helping crypto HODLers and traders keep track of their coins for various reasons - simple inventory purposes, profit tracking, tax preparation, costing, trade backups, mining, forks, and all that jazz.
Since it’s in Cointracking’s best interest to have as many coins tracked as possible, I like that alignment. With Coinmarketcap, however, their interests and alignment is in question. I’m not saying anything is nefarious with CMC, but the incentives with user and business are not alighted as much as it is with Cointracking’s business model.
—
As to your question for “many until it gets stupid?” question, ask yourself this:
On our planet, if the Earth had a committee that thought about things and decided whether a life form was “stupid” just because a number was too high instead of letting the ecosystem figure itself out and letting Mother Nature (as we call it, aka evolution) handle it, do you think we’d be better off?
Somehow I doubt anyone put on any committee to decide stupidity or limits or worthiness if anything would be flawless enough to beat the natural benefits that an open free market ecosystem provides.
that is fine, i can dig it... but how many of the 6,000 and growing do you actually think will be responsibly and viably managed? also, what are the chances of an entirely new blockchain tech developing to essentially make all those irrelevant. thanks for your comments
How many? I have no idea. But I really don’t think the number being larger is a concern. In fact, I might submit to you that a lower number would be a concern. As long as the incentives are aligned, I want as much innovation and as many people clamoring to make the best system as possible.
Choices, diversity, risk, reward, penalty and incentives - evolution at work.
As an example / privacy in CryptoCurrency. I think we have a better chance at getting really good privacy for the masses by having a lot of different people competing for millions of dollars trying to make the most private coin or token that beats the other guy’s token. Humans are humans. We’re not evolved enough to care about the world and each other enough to work hard enough to actually excel to the level needed to actually make stuff really good. Not like when there’s raw base fundamental human wants and needs on the line.