Does The Large Number Of Alternate Cryptocurrencies Hurt The Maintream Adoption Of Bitcoins?

Chad: Chad Creighton from freecryptoreport.com. My question to you is, on the sales and marketing perspective, do you think the number of alt coins is affecting the overall sales and marketing for.

Tai: Yes, the question is whether or not the mass proliferation and abundance of altcoins are hurting Bitcoin. The answer in my opinion from a sales and marketing perspective is yes. I know that Andreas Antonopoulos next doors said that it’s good for the community and everything but I believe from a sales and marketing perspective that the number one thing that kills adoption is confusion.

When people look at the market, there’s Bitcoin but then there’s Dogecoin, there’s Nextcoin, there’s Litecoin, there’s Peercoin, what is the difference and if anybody can make a coin, what’s to say I can’t do it. So it does create that, and I believe that the people who have a developing background to jump on one of the Bitcoin development projects that are going to move it forward instead of trying to come up with your own coin.

Chad: Is there any way where we can try to talk the community into driving towards a general altcoin?

Tai: Yeah, I thought about that, I’ve tried to brainstorm on how to get all these guys, they all have talent but it’s one of those situations where everybody’s that developing these altcoins is digging their own water well and it’s only an inch deep.

Whereas if we combine all of the efforts like marketing, promotion, development, we can dig the well a lot deeper, wider and faster and reach water and success much faster. So that is a problem, and right now, the only thing that I see that’s going to kill some of these is through an attrition process.

What happens is the guys that know how to code and code well, they’re migrating from one altcoin to another because they’re getting paid to do it, they get paid an initial sum for development and once the code develops, it’s launched and the price rises, they get their paycheck and then they move on to the next altcoin, and one of the things that I like with this new Ethereum project.

I’m not promoting it in any way, I’m just saying the strategy that they use to prevent that nonsense is they have some methods to lock in, to where you’re not able to get rid of your initial investment, to allow time for it to grow and develop, and that I think is a viable approach.

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