why so many currencies?

[cfkvfyjd]

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[SilverChromia]

No i think we dont have a lot of currencies in the end they are also the same and that word is they are all "Money"

It just happen that money is important to this world because someones having a good life because of this and someone having a bad life because of this.

Maybe theres a lot of currencies because theres a lot of countries in this world and thats what they make their difference

In Bitcoins also like that but in the end will give more priority on bitcoins unlike the other coins or altcoins
Maybe other altcoins or other cryptocurrencies has come because thats how their business work and do profit for them

[ruskytailz02]

altcoins is what the term for them   they are
ETHERIUM
DODGECOIN
LITECOIN
etc. they can mine also as alternative crypto currency where the difficulty is much easier than bitcoin. and the others are such tokens from ICO which will can be used as like the stated above but you need to trade it to get the base ETH and to the base BITCOIN if you know what I mean

[wisdomcn]

There are many coin yet not all coins are monetary forms, some are tokens. Monetary forms are those which can be mineable and can also be utilized for installments. Bitcoin and Ethereum is a cases of monetary standards. There are couple of different monetary standards out there. Enormous appropriation of monetary forms figure out which money will keeps going forever.

[taiwww]

Earlier most of the countries were under rule of United Kingdom.
At that time pound was the only widely accepted currency.
After getting independence from UK influence of pound become less and each country forcefully presented its own currency.
After digital and economic revolutions bitcoin get introduced to the world.
It happens in all businesses, when someone introduces a new concept and get successful people stars following him and his concepts.
Same is happening with bitcoin, bitcoin become popular since its introduction so more and more companies jumped in with same concept.
Now even countries are planning to introduce their own crypto. Though there more than 1200 currencies among the only 10 are popular.

[BranZolt]

 Having so many currencies has certain benefits. Different countries have different habits. They are big old boys, some gentle, some badass. Accommodation of such habits needs many currencies and individual political system.

1. Sovereignty: A country with a control on their own currency can determine its exchange rate, monetary and fiscal policies. Japan's Yen is even weaker than India's Rupee, but that is because Japan is trying to be competitive in foreign markets. Japan decides its own policies. So do India and others. When countries got independent, they pushed to break free of earlier controls.

2. Practicality: If there is a huge inflation in Pakistan, their Central Bank will try to increase the interest rates, so that people do not get more money (WHY? Because inflation already means that money is already more as compared to availability of goods and services) If the world had a single currency, individual countries will be losing out on their capability to influence and address the situations in their country. This may turn out to be disastrous.

3. One Currency. Whose? If you had to select a currency, which would you select? You might say USD. But Euro hasn't performed that bad either, except in the recent decade. Such trends are susceptible to change and this choice of a single currency is again linked to sovereignty. A country with its currency with the world currency will indeed have an undue control and lead to dissatisfaction.

And we are not using all the currencies for world trade. US, Euro and Yen lead the pack. It's just that all other currencies are essential for internal matters of an economy.

[whitemacna]

There might be a time in the future where bitcoin users will be begging for the anonymity some of these coins offer What you say can be very simple but big business guys do not think so. To create a single currency requires a great deal of money to set up. Not all customers know and want to use virtual currency as a form of payment, although it is more convenient than conventional but the use and purchase is too complicated.

[adiksau0414]

Are you trying to ask about cryptos currency not the currency of different country. Cryptocurrencies is just what people name that we use online. Actually the other what you called "currency" is not a currency at all (even bitcoin will not be called currency). People created this token maybe for their business personal use, like in online casino, some of them created tokens to be used in betting which actually benefited most are the developers and the online casino itself. I think the new tokens thats in the market today somehow make people confuse, which such product should use a specific token before having that product or services.

[Jalum]

There are many reasons for a currency to exist, first we need a new currency because we need to use it for our specific purpose, like we want to use that currency for banks, we use banks currency, but not all currencies are successful despite how advanced they are because they can not be applied in the real life.

Bitcoin is the only cryptocurrency that I would purchase and hold so I can cash the coins out later.

[AriannaSantosUU]

Because of the open source flatform.
Also, each crypto serves as its own purpose. Some of them are currency based, some are utilizing based and some are equity based. There's a lot of different features that can separate them from each other.

[giveen]

There are 2 reasons to your question:

• First there are many developers who actually develop something which helps the community and they feel that current coins or options aren't sufficient therefore they make a better coin few eg , nem , xmr , ltc etc.

• Second type of people are those who most likely missed the btc train but want to quickly make money. So instead they develop a same coin which already exists or fork btc and make quick money easily.

[voztata]

There are many reasons for a currency to exist, first we need a new currency because we need to use it for our specific purpose, like we want to use that currency for banks, we use banks currency, but not all currencies are successful despite how advanced they are because they can not be applied in the real life.

Bitcoin is the only cryptocurrency that I would purchase and hold so I can cash the coins out later.

Yes  bitcoin is the only crypto currency. That you should purchase and cash. Crypto world is full of currencies. New currencies derived time to time. Every crypto currency want to attract more customers to invest in them. I see only currency that is bitcoin that attract by people.

More and more people invest in bitcoin. The is the beginning era of bitcoin empire the empire which is long lasting and have no end. People interested in bitcoin because they know it is profitable currency.

[keithieY5]

because it is open source any developer can get code and make some edit and start it’s own coin.

bitcoin and altcoin price make many thinking to start them own coins.

[barneystinson]

Hi All,
Please help me understand in plain English how will we benefit from so many currencies?
I see so many startups with decentralized blockchain ideas with their own crypto currency.
Today I purchased oatmeal directly from a mill at their website.
This mill sells its products thru grocers and other online stores as well.
They probably gave 3% to the credit card company, which they could reduce by using blockchain.
But if every store and every business starts creating their own currency, then I will have to go thru an exchange to convert BTC or ETH to that coin to make some purchase.
Then we would need miners to process all those transactions in various coins.
Why can't they just use ETH? Just like all IPOs use dollars.
Thanks in advance

Right now some of these ICO's are still dependent on the technology of the big companies like ETH. But there will be a time that we will be leaning towards an fiat to coins trading already.

[rcoins0720]

first of all I knew that it is needed to have a complete cycle of bitcoin to confirm transactions.
if one of the principle is not cooperating it will not be able to process all of those.
we have mr GOOGLE and everything about bitcoin is basically there. just a little tick tick click with the internet then you will be literate to how bitcoin is using by miners. if no one will mine the transaction will not move

[Kulafu]

There are a lots of cryptocurrency because everyone want to ride the wagon. They see the potential of crypto that's why tjey follow besides there there is no regulatory board that control the creation of atlcoin/tokens.
But in business more competitors much better it will control the price of the products or coins.

[balakang00]

I think there is so many currencies because people have different perspectives all over the world. People sees a thing different from the other and the difference of currencies help the control be easy because if there is only one currency, there are so many people to pursue and argue with but with different currencies, people would have the freedom to follow their perspectives.

[Wayan_Pedjeng]

Only a very few, such as Litecoin, Bitcoin Cash, Monero, Zcash and Bytebal are having a purpose. The remaining 90% of the coins are plain scams or ponzi schemes. The developers just want to get rich and they churn out copycats of the already established coins.

[LovelyFLOWER]

Hi All,
Please help me understand in plain English how will we benefit from so many currencies?
I see so many startups with decentralized blockchain ideas with their own crypto currency.
Today I purchased oatmeal directly from a mill at their website.
This mill sells its products thru grocers and other online stores as well.
They probably gave 3% to the credit card company, which they could reduce by using blockchain.
But if every store and every business starts creating their own currency, then I will have to go thru an exchange to convert BTC or ETH to that coin to make some purchase.
Then we would need miners to process all those transactions in various coins.
Why can't they just use ETH? Just like all IPOs use dollars.
Thanks in advance

The reason why too many curencies is all about its diferents prices they have and base on its value to  ensure also the country economy as thier currency to have more choices when it deals in other places tours and also it can possibly used to any other country. Thats what the currencies purpose.

[Tracey130]

Anyone can make one that is why there are so many crypto currencies which means that some of them are a scam. I would advice diving into the crypto world by purchasing just the major ones leave the rest alone.