why so many currencies?

[mrcash02]

I think, with a lot of currency will make us have many options also for investment and we can get some profit from some currency

In world of cryptocurrencies, we have a lot of choice to determine our specific goal for having many cryptocurrencies. And the mindset of every people getting into this type of thing are more focused with investments. The main usage of crypto's as a currency is already a secondary use and not a prime use. But taking up advantage of various coins in the market will lead to having good profit if you just know on how to take advantage.

You're statement is right, there are so many crypto currencies now emerging in the market not only millions but i think billions of coins and tokens including those fake and scam projects. All of these are trying to achieved the stage of what is bitcoin now. They used eth as a major transaction of all emerging crypto's because low fees and faster transaction.

There are many different currencies because many developers want to create their own currencies. Some of them are just practcing their skills, others are testing the technology, others have serious goals by creating innovative projects that will assist people in the future and other people just want to scam some easy money.

Anyway this is one of the nice characteristics of Crypto-Currency world. Anyone can create their own currency and convince people to invest on it, and if people really like it or think it's profitable or useful, they will.

[mrsandhu0]

Whole world of peoples is working with currencies. And there are also many types of crypto currencies. It gives us more options to invest. It also helps to earn more profits with own investment.

[Glaseseye]

Well really you say it's a lot of coin types of altcoin or other crypto coins but that makes it different just because of the many developers who want to make their own currency. Some of them are trying to do a few things just to train or test their skills. Others want to test their technology, And some experts in crypto curency have a serious purpose by creating an innovative project that will help the less fortunate in the future even also others who just want to cheat to earn easy money. This is one of the great features of the crypto curency world. Anyone can try to create their own currency and convince many people to invest in it. If people really like it or think it is profitable and even useful, they will start investing.

[MintDice]

Basically, because they’re relatively straightforward to make, and an ICO seems like a fast way to make money.
It’s not too hard for a skilled software architect to essentially recreate Bitcoin with a different initial ledger, or different set of choices like hash function or block size.

[yansen]

now too many coins for choice. but not all have a nice future. you want to make a profit on some coins. you can pick coins that have good projects and keep growing. it will give me many advantages. only now it is hard to find such coins. better buy old coin coins. because it has a good future. such as eth, ltc, str, xrp, waves, nxt.

[freshm4ker]

For me there are already so many. There are stupid investors who invest their money in any project even though there is no development plan that is so honest and the idea is not new.

[JebediahBullfrog]

The space is unregulated and everybody wants to get in on the chance at easy money, mixed in with a smaller proportion of people looking to develop unique and genuinely promising projects.

That'd be my 2cents.

[jak3]

First of all, I would like to highlight a point that all these currencies are useful because they are regulated and they are need it for the market. At first one bitcoin came there was no other cryptocurrency in the market so it was hard for people to get a grip on this but when the second cryptocurrency came in the market which is I guess bitcoin, has started the market competition anyway as you have said that why they do not take ETH that's because getting multiple cryptocurrencies is a much more profitable than a single one at least that will keep them in working inside the network.

[Chachacoin17]

I think, with a lot of currency will make us have many options also for investment and we can get some profit from some currency

There are lot of crypto currencies right now because currencies in the past is already improving. Especially it is because technology really do improves to and bitcoin becomes more popular than before. Bitcoin is the most popular crypto currency and is known as the father or kinf of all crypto, so I guess bitcoin will be the inspiration of other crypto currencies to improve more.

[Mr.grin]

I think, with a lot of currency will make us have many options also for investment and we can get some profit from some currency

There are lot of crypto currencies right now because currencies in the past is already improving. Especially it is because technology really do improves to and bitcoin becomes more popular than before. Bitcoin is the most popular crypto currency and is known as the father or kinf of all crypto, so I guess bitcoin will be the inspiration of other crypto currencies to improve more.

well, do not be surprised if a lot of new coins emerging. Well, there have been many projects that have been successful because of that, so many follow that way by utilizing bitcoin, and ethereum as their platform.

[freshm4ker]

For me, a lot of people see the success of bitcoin and try to match it by making some new currency so some of them managed to make the price worthless a few hundred or thousand. If people buy into it it creates the need for their prices. Of course people will try their own ideas on the block chain, if it works for them later.

[Qartersa]

I think many people have a huge misconception of what a 'currency' really is, legally speaking. Currency, by definition, is a legal tender issued by a central bank that is supported by a government. If you base your definition of currency as to anything that you can use to pay something, you are in the wrong because that may just be a 'barter', 'dation in payment' or any substitute that has monetary value. You have to very well familiarize yourself with these things as it will affect your understanding in terms of how you handle your money affairs.

Another point is, when you consider any substitute payment of fiat as currency, that would give ALL people the power to create their own 'currency'. This notion is, for all intents and purposes, contrary to common sense of men of intelligence. Just imagine a situation wherein people can invent their own currencies just because it is accepted as a form of payment. It is just outright absurd and disturbing.

Hence, while I am a believer of Bitcoin, I can say it is not a currency because it has not passed through legal processes. This goes out for all forthcoming cryptocurrencies, as well.

[EnaksiS]

It is not important that a lot of cryptocurrency in the market even it is a good thing. I am getting happier when i heard a new project, new and usefull project. Because of them blockchain will rule all over the world.

[eaLiTy]

Please help me understand in plain English how will we benefit from so many currencies?

It gives us more options for investment and it also avoids problems like hoarding since most of them are limited.

It is really good to have more options,but the truth is most of the coins are just plain shit,just a copy past of the open software policy,if you still have any doubt,take the simple case of dogecoin alone,the creator just replace bitcoin with a new name and more number of coins and launched the software and do you know how the entire coin is worth  , so what i am trying to say is,there are more shit coins in the market than having options,just understand those simple things.

[Naitik]

Everybody trying their luck. Everybody thinks that they can create a currency like bitcoin. That's whu lots of crypto right now.

[--DarkSecrets--]

I think, with a lot of currency will make us have many options also for investment and we can get some profit from some currency

Today, we have two types if currency now, one is the digital or the cryptocurrency and the traditional types of currencies, name a country and it has a corresponding currency.
We have many currencies maybe because of the country we are in. Countries have different leaders and values that also caused all countries have their own.

[Harrow30]

So many currencies you mean by the altcoins? I have questioned too and also by the way new altcoins are coming up everyday and like everywhere! I will be of the opinion that an ICO regulatory body be established to check up this. Also, there should be major coins for the purpose of exchange and trading.

[Rehm100]

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

I think end of the year it will be more than 1600 in cpc. Many are not coins. Its token.

[kingkonjac]

as I know only a few currencies are designed to be used for only payments and the others are for different purposes like insurance, trading, token swap ... and I believe that if they would accept coins as payments they would use just one or two of them,

[batang_bitcoin]

I think, with a lot of currency will make us have many options also for investment and we can get some profit from some currency

In world of cryptocurrencies, we have a lot of choice to determine our specific goal for having many cryptocurrencies. And the mindset of every people getting into this type of thing are more focused with investments. The main usage of crypto's as a currency is already a secondary use and not a prime use. But taking up advantage of various coins in the market will lead to having good profit if you just know on how to take advantage.

You're statement is right, there are so many crypto currencies now emerging in the market not only millions but i think billions of coins and tokens including those fake and scam projects. All of these are trying to achieved the stage of what is bitcoin now. They used eth as a major transaction of all emerging crypto's because low fees and faster transaction.

You mean cryptocurrencies? I don't think they are billions of coins already but when it comes to scam projects, you're right that there are many of them who are existing and faking investors. When a coin developer says that they will be the same as bitcoin or will be replacing bitcoin soon, its an untrustworthy words coming from a developer. Many times did said that thing before so as soon as possible try to avoid with those coins.