The number one thing preventing mass adoption

[Anonymous No.58046501]

Been here for 3 years and I have never heard anyone answer this question to justify all these shitcoins.
Why do we need so many tokens?
Why does EVERYTHING need its own coin?
This shit does not make any sense and is the main problem for mass adoption of any of these technologies. There is so far no clear reason. Can someone explain this shit in plain words? Bitcoin and its competitors are the only ones that make sense as they are trying to be a currencies, with each one claiming to be faster or cheaper for transactions. But everything else? Why the fuck does ETH need a token? Why does LINK need a coin? GRT, ICP, DOT and the many, way too many, more, all have tokens, for no other reason than just because. Everything is being tokenized and none of it makes ANY sense as to why. 99% of us are buying for speculative reasons, the rest that are "in it for the tech" still can't explain why we need to buy these fucking crypto-currencies.
Make it make sense.

[Anonymous No.58046532]

>>58046501
you're right 99% of coins are not needed stop trying to make it make sense just buy low and sell to normies you stupid fucking retard

[Anonymous No.58046546]

>>58046501
you could spend a few minutes reading about eth to know why eth has a native token

[Anonymous No.58046568]

>>58046501
to dump on naive unsuspecting retail investors or whatever

[Anonymous No.58046591]

>>58046501
Bitcoin doesn’t have competitors, it’s not a company, it doesn’t have a CEO, it doesn’t have an HR team

[Anonymous No.58046596]

>>58046591
>he doesn't know

[Anonymous No.58046597]

why are there so many fast food places? why are there so many retailers?

many project/coins seek to solve a problem or provide alternativr solutions in a decentralized way

and many others are literally meme shit

[Anonymous No.58046598]

>>58046546
Ok so explain it.
>inb4 not spoonfeeding
Yea right.

[Anonymous No.58046614]

>>58046501
>99% of us are buying for speculative reasons, the rest that are "in it for the tech" still can't explain why we need to buy these fucking crypto-currencies.
>Make it make sense.
it's called investing for a reason retard
the reason there is so many is called "competition"
When you buy a token the price of the token goes up, allowing the team to sell their tokens and continually make money to fund development of the tech.
same with icos

[Anonymous No.58046619]

>>58046597
>many project/coins seek to solve a problem or provide alternativr solutions in a decentralized way
That doesn't explain why there's a need for a token/coin that costs money to buy for every single solution to these "problems". Why can't it just be done under BTC/ETH?
All of you are saying the same thing the people who make the coins are saying to convince you to buy, but NO ONE is explaining why the fuck there needs to be a token and why it needs to be bought in a speculative market.

[Anonymous No.58046639]

>>58046614
So they're effectively just stocks but for coding projects?

[Anonymous No.58046641]

>>58046619
how about you spend some time reading on your own

[Anonymous No.58046644]

>>58046501
Test

[Anonymous No.58046652]

>>58046501
Eth native token is used for gas fees. Anytime you buy or swap on the eth block chain you’re charged in eth. That’s why it exists. Why all the other tokens exist on the eth chain is beyond me but they’re all just for gambling addicts.

[Anonymous No.58046951]

>>58046501
from the perspective of the token seller, it's fantastic. the margins are infinite, every token sold is pure profit. all you need is some marketing to make gullible idiots think your token is going to increase in value without every saying it (you know, securities law. just say "we don't like to talk about price"). it's the evolution of dropshipping, your product is worth even less, you can keep all the profits and people are even more willing to buy them because you told them "big banks will buy soon" or something

[Anonymous No.58046984]

It's yet another
>crypto is a scam
thread.
>buy signal

[Anonymous No.58047861]

>>58046501
why does every public company need its own stock

[Anonymous No.58047897]

>>58046598
Prevent spam and niggers. Niggers have 100 dollars. Smart niggers can create bots but since they poor only can nig on the efferiums world so many times.

For DA ChainLAnk, niggers want on dere efferiums smart contracts to get da price in real time from off da block chainz. Dey buy da LANK to buy facilitate transactions.

Also ftm, avax, icp, all the other l1s are basically efferiums (ICP is a little different but the point of the token is the same albeit ICP doesnt need my next point but still), but LAnk is needed if you move assets between da chainzz.

[Anonymous No.58047945]

>>58046501
The simple answer to your question is that crypto is a pyramid scheme. No value is created by crypto. It exists only to be sold to a greater fool at a higher price. Yes, even bitcoin and ether.

[Anonymous No.58047987]

>>58046597
>seek to solve a problem
Name one token that solved a real problem and is being used for anything but speculation. Surely after all those years we would have at least one.

[Anonymous No.58048294]

>>58046501
Icp token needed. The token pays for computation. Among other things

[Anonymous No.58048420]

>>58046532
it shows in the product of dexscreen vs dextools. dextools is very clunky whereas dexscreener is very smooth. dextools has a token to worry about so now their product is surprisingly shit because of it

[Anonymous No.58048549]

>>58046501
Yes OP, you figured it out. Congrats on having above 90 IQ. TOKEN NOT NEEDED is the status of most crypto projects.

[Anonymous No.58048609]

that's why bitcoin won
and things like ethereum despite being the home of 90% of these tokens, topped in 2017

[Anonymous No.58049513]

It's all hype shit, op. Literally no shitcoin is needed, ever. If they didn't exist the world would function normally, literally nothing would change, except for yet another avenue for dumb money to pour. Blocklords is literally just a videogame and yet it will have its own shitcoin soon. 99% of crypto is not needed in general as well.

[Anonymous No.58050255]

>>58046501
Diversification is crucial, Anon. I'm currently invested in DePIN and holding KREST, DIMO, and planning to get in early on PEAQ. Also looking into RWA and GameFi. Keep your opinions to yourself.

[Anonymous No.58050337]

>>58046591
While Anons are debating this, I've already got my hands on a tokenized Tesla through Eloop, raking in profits from their daily revenue streams

[Anonymous No.58050350]

>>58046501
Need more tokens because there are morons that that it's all about pumping new trash and think they gonna make it by dumping on everyone else in here.

[Anonymous No.58050391]

>>58046501
We dont, this is the single thing schiff is correct about excluding btc and eth, shitcoins exist to gamble.

Btc is money and Ethereum is a computer.

[Anonymous No.58050403]

The only thing preventing mass adoption is IQ. Crypto is the perfect example of the bell curve.

[Anonymous No.58050439]

>>58047987
Silencio is battling pollution while Brainstem offers health wearables for Pajeets to monitor, improve, and share their health and wellbeing. There are plenty use cases out there.

[Anonymous No.58050834]

You need BTC as a hedge against fiat and monero so you can dodge jewish banking system. The rest is NOT needed (especially chainlink kek)

[Anonymous No.58052539]

All are PND, join them
>honeypotshop.sell.app

[Anonymous No.58052649]

>>58046501
Why does the stock market need different shares?

[Anonymous No.58054634]

>>58052649
>>58047861
Already addressed >>58046639

If it's just stocks but for coding projects, it isn't being advertised as such at all. Most of the time the "token" is considered a crucial part of the tech, SOME of them have POS to "validate" some bullshit.
Sounds like an easy way for a dev to just make money and then fuck off without the same consequences that come from disappointing/lying to shareholders.

[Anonymous No.58054646]

>>58046501
Crypto is still young. I think the cream will rise to the top in the long term.

[Anonymous No.58054685]

the reason we need so many coins is because crypto is purely speculative
we need a wide variety of coins to market to a wide variety of speculative investors
ask yourself why a casino needs so many different games when it could just have roulette tables

[Anonymous No.58054720]

>>58054634
Plus most coins are forks of another coin so not much else "new" code. "Coding projects" is just a another way to say blockchain code since they're mostly all that and not some other category of software that "coding project" makes it seem like it is.

[Anonymous No.58055594]

>>58054634
>Most of the time the "token" is considered a crucial part of the tech, SOME of them have POS to "validate" some bullshit.
Sounds like an easy way for a dev to just make money and then fuck off without the same consequences that come from disappointing/lying to shareholders.

you initially asked why blockchains like eth need a token.

because how are you going to incentivize a large network of nodes to validate a large number of transactions and maintain world state, and disincentivize malicious behavior or absenteeism for a mission-critical service that demands absolute data availability and uptime? the native token issued by a blockchain protocol is (1) the reward for participation, (2) priced as a reflection of demand for the services rendered by participants of a protocol and access to subprotocols built on it, (3) the unit of denomination for said services, and (4) the collateral ensuring the robustness of the protocol, hence POS, never mind (5) a means of bootstrapping r&d for future-proofing the protocol.

if you let it run like a free torrent tracker, there's no guarantee there will be availability without incentive. ever tried to torrent obscure music and there were no seeds? it's like that. if you pay in dollars, you then must deal with the complexities of payment services and downstream regulatory institutions.

why do subprotocols issue their own tokens? for the same reasons, but while inheriting the economically-backed security of state and event ordering from the underlying blockchain. these services aren't built for free, and often involve deep tech r&d, and so funding comes from token issuance and/or venture backing, where backers potentially breathe down the neck of protocol developers and compromise the integrity of what's being built and the process of building.

[Anonymous No.58055724]

>>58046501
The only coin you need is BTC, BTC IS the market.
Everything else is shit, but /biz/ is full of lonely people who treat these useless coins like football teams, and support them all the way to the bottom.
You literally need BTC in your portfolio and nothing else.

[Anonymous No.58055802]

>>58055724
i mostly hold btc after real estate but this is a foolish assessment. it's a reliable and credibly neutral store of value but as a vehicle for building wealth, the returns are no longer particularly asymmetric for small investors late to the party, and its capabilities as a development/services platform were stuck in the stone age until maybe last year.

if bitcoin core developers were more forward thinking, there might not be other blockchain ecosystems today aside from its retarded forks. but it chose institutional-grade stability over innovation, and any innovation occurring in its space is a side effect of parallel developments elsewhere.

of course as legacy institutions continue to compromise this space through centralized and vc-backed pos trojan horses, i'm becoming increasingly confident that bitcoin will remain a safe haven for more free economic activities and unencumbered settlement. it could benefit from more privacy though.

[Anonymous No.58056418]

>>58055724
actually only 'coin' what is needed is XRP because it's only one which can handle the traffic, also it's many many times more efficient and consumes much less electricity than Bitcoin.

Also it's the only one in the top-1000 which has real headquarteres with real workers making real profit (>100 M$) per quarter

all these facts could be checked easily but people are so distracted about meme coins

[Anonymous No.58056476]

>>58056418
cope

[Anonymous No.58057788]

>>58050391
Ethereum can't scale. The Internet computer is infinitely scalable and faster than ethereum and doesn't have to rely on centralized cloud like AWS. But no one talks about it. It's the black sheep of crypto.

[Anonymous No.58057910]

You think it the wrong way. Everything is digital now, especially on mobile. Masses are on the Internet, where the cryptos and memes are. It went the opposite way crypto enthusiasts were thinking it (that much about being digitally revolutionary kek)

[Anonymous No.58057925]

>>58046501
>Why does EVERYTHING need its own coin?
it doesn't 99.9999percent of tokens and projects are tokens not needed money grabs.

[Anonymous No.58057963]

>>58046501
>Everything is being tokenized and none of it makes ANY sense
exactly. theres this new narrative they are trying to push "RWA" real world assets tokens... but i don't want a fucking food token or oil token or cookies token you know. why the fuck this stupid middle man. we invented MONEY to be the universal middle man. Fuck all these stupid token ideas.

> buy Mcdonalds food token
> go to Mcdonalds store
> spend Mcdonalds cola token and hamburger token

or you know

> go to mcdonalds
> PAY MONEY for a cola and hamburger.

fucking middle men ffs. all these tokens are tokens not needed middle men. LINK is the biggest example. its a token not needed middle man. while the whole idea of cryptocurrency was to cut out the middle men. holy shit.

[Anonymous No.58058014]

>>58047987
Monero let's you transfer money anonymously which is actually useful.

[Anonymous No.58058474]

>>58058014
yeah Monero is actually a real cryptocurrency and a coin that is needed.
Bitcoin is actually a real cryptocurrency and a coin that is needed.

if it has PoW its open and decentralized and it COULD be a crypto. if it's not PoW then its a token printed out of thin air at start (not needed/ no innovation)

[Anonymous No.58058633]

>>58058474
both of them are obsolete. see >>58056418
even if there's a nuclear attack XRP is only one to survive as it has nodes all over the world, even in nuke proof bunkers. BoomerTechCoin is obsolete tech from the late 2000's

[Anonymous No.58058717]

>>58046501
Meme coins will die as soon as legit coins start coming out with real world use cases. When this happens all the money will flow out of them into stuff that matters

[Anonymous No.58058736]

>Why do we need so many tokens?
For the same reason we need so many companies listed on the Nasdaq. What would happen if every company could be listed under a single ticker? Like S&P500?
In crypto, tokens can be used to create incentives for distributed systems to work. Coins lile Filecoin and GRT do that.Even ETH. They need their own tokenomics model to keep the incentives for people that provide infrastructure for their systems. If it all was a single tokenomics model it could not be able to keep it up with the costs of each project, rendering no incentive for it's development.

I think this is different for coins that claim to be money though. My understanding is that there will be money that is the best, like the dollar is.

Also, this is the consequence of a free market. People make wildly varying stuff to solve wildly varying problems. Or even the same problems. If you dont like it go live in a commune.

[Anonymous No.58058770]

>>58046591
>it’s not a company,
Who runs the website?

>it doesn’t have a CEO,
Satoshi owns 1.1 million BTC.

> it doesn’t have an HR team
Did you mean PR team? Because it sure as he'll has a lot of shills who do it for free.

[Anonymous No.58058933]

>>58057963
RWA likely will not be applied to consumer goods, but rather as a means of more liquid valuation and trading of traditionally illiquid assets like private equity, real estate, and proprietary data, particularly between legacy institutions with incompatible IT/data infrastructure in need of more universal formats of interoperability / data interchange and with the legal/regulatory legwork smoothed out.

t. working in RWA

[Anonymous No.58058953]

>>58058933
ok. still doesn't mean that ETH needs to be valuable because it has RWAS on it for example. the ETH token in that case is literally not needed.

[Anonymous No.58059316]

>>58058953
To begin, please reread:
>>58055594

ETH doesn't "need" to be valuable, but it is. To elaborate:

As the first mover in smart contract networks, it has a rich ecosystem of distributed applications and layer 2 networks built on it that have grown quite large over the years and accrued a significant amount of utilization, and their cumulative demand for transaction validation, persistent storage/availability of state data and manipulation of such, and batch settlements has an economic cost associated with it which is denominated in and thus must be paid in ETH.

This is a contributing factor driving ETH's price.

Ethereum's validator set is attracted to this fee revenue which these protocols and their users bid up for confirmation priority. Ethereum's delegator set, at least as facilitated by validator pool protocols, is then attracted to passively earning a cut from these validator sets. Restaking instruments further compound this by securely amplifying the yield opportunities for indefinitely locked assets. This all further drives demand for ETH, and thus drives this pricing, especially in conjunction with liquidity being increasingly locked in profitable vehicles.

RWA entities are not necessarily attracted to Ethereum in and of itself, but the value of the stake / collateral backing its network operations offers a significant amount of economic security that they may find attractive as a settlement base for multiparty operations. But they need ETH to carry out settlements and transactions on Ethereum - and any other blockchain network that hasn't failed due to shitty incentive design - as required by the core protocol.

[Anonymous No.58060485]

>>58046501
to grift

>mass adoption
never gonna happen, crypto is for gambling

[Anonymous No.58060510]

>>58058736
>People make wildly varying stuff to solve wildly varying problems.
literally 0 problems are being solved by any of this shit.

[Anonymous No.58060535]

>>58046501
>Why the fuck does ETH need a token?
I agreen with what you say but ETH actually very much needs a token and yes Link aswell but most others not.

[Anonymous No.58060540]

>>58060535
Eth doesn't need a token, could have just used Bitcoin.

[Anonymous No.58060553]

>>58059316
>ETH doesn't "need" to be valuable, but it is.
Yes it does
No matter if POS or POW you NEED value to make the network secure and to pay fees

[Anonymous No.58060569]

>>58060540
No
>block every 10 minutes
>no smart contracts

[Anonymous No.58060591]

>>58046501
You said Bitcoin competitors coins make sense then ask why Ethereum needs a coin. You're obviously retarded but you're right about ERC20 coins there's really no need though the technology allows them to exist so they will

[Anonymous No.58061179]

>>58046501
meh, i dont care that much, all i see is opportunities, be it X or Z i'll get as much benefit out of them as i can
already doing it with loaf cat, the high and lows are very frequent, letting me do x2 in just a day or two

[Anonymous No.58061224]

>>58046501
I hear ya OP I feel the same way. Every fucking day there are tons of new coins made where there are already tons already available. Do we need another DEX there are literally thousands of them and every single crypto category there are tons of coins and projects. Crypto is way over saturated more money being spread out over tens of thousands of tokens makes whatever you have invested in harder to accrue gains. Tomorrow there will be a shit ton of new tokens available and not even referring to meme coins.

[Anonymous No.58061937]

>>58060553
My initial statement was an oversimplification, but yes.

[Anonymous No.58062270]

>>58046501
Why buy someone else's coin that does function X when you can make your own that does function X.1

This way you steal tech (nothing stopping you) and don't have to actually use the people's coin. It's a win/win

Want to make a crypto for gaming? Why would anyone who develops games use it and pay you big money while you dump on them when they can just make their own coin that's a copy of yours with a little tweak. Why would anyone use your defi when they'd need to use your tokens to again pump your bags as you dump on them when they can copy you and release their own toke to do the same thing.

And so on

And so forth

This fundamental philosophical issue of human greed is why crypto and the tech thereof is basically nothing. This will continue ad infinitum until there's no more "first mover of its kind!" Advantages and greater fool theory removes the ability for anything at all to pump.

You think institutional adoption is coming? Why should institution use coin X (built by 5 hacker buddies over the course of 3 months) when they can hire a team of 30 programmers in house to build their own crypto that does exactly what their company wishes, and will be called that company's name and ticker.

Come on now lol

Crypto is a ponzi, enjoy it for what it is. All into BTC to enjoy the ETF pump to 1m and relax. Put it all into physical gold before the house of USD and USDT pumping comes crashing down to the ground along with the US and global financial system.

Enjoy life lol

P.S. I'm 100% into ICP because it's the only token in the entirety of crypto with a real function for the world (you can build sites on it and people use and build sites at the middle class level)

[Anonymous No.58062271]

>>58057788
>Internet Computer
that is the stupidest possible name imaginable. it will never have normie appeal. they gone fucked up the first step

[Anonymous No.58062420]

>>58062271
>that is the stupidest possible name imaginable. it will never have normie appeal. they gone fucked up the first step

It has more devs working on it than ETH right now and it's only been out for 2 years to ETHs 10.

Function and price = king in this world.

You can have ETH to ETH transactions that are bridgelessly paid for in ICP.

It could be called peepee coin and still melt faces with the tech

[Anonymous No.58062471]

>>58046501
decentralization and competition, the true spirit of capitalist America

[Anonymous No.58062503]

>>58046619
Theres a token because everyone wants one. Remember arbitrum ran for years without a token then everyone begged them for one so they released it.