why so many currencies?

[blue_dragon]

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

There are lots of cryptocurrency because cryptocurrency miners are still mining today. It is like mining a real mineral or other kind of stones that is like the same but have different characteristics and uses.

[danggoron]

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.

Differences in the currency of each country is a form of sovereignty and independence of a country to regulate economic activity in the country.
In cryptocurrency, there are many types of altcoin. It is a manifestation of the support of several institutions to participate in the development of financial technology. They compete healthily to include cryptocurrency in part of their business.

[LikaCat]

We live in a free world in free countries. This means that we have a free market.
This is natural.

[azker]

The most interesting is that even in this situation, projects collect the requested amount, people are now ready to invest in everything, meaning, the idea of the project goes to the background. Although now there is a tendency that in order to participate in a good ICO it is necessary to perform an immeasurable number of conditions for the purchase of coins. Good projects sell their tokens in private seals or pre-seyles then it does not even get to the very token of the business.

[oksana3619]

So many currencies exist, because everyone wants to make money. With the advent of the Internet appeared a lot of scammers

[Cryptagio]

There are so many of them because of ICOs. Each ICO implies minting its very own token. Subsequently these tokens are listed on exchanges.

[bukikbarisan]

this is what I have been trying to show to people in this community for a long time, we will not in any way benefit from having multiple currencies. It will not help others that we have tens of thousands of altcoins who can do this, but not by any single soul. If all these people gather behind Bitcoin and give news of time for Bitcoin.

[Ailmand]

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

If you are pertaining to the variety of coins in the market. Then yes, there are a lot of coins in the market, and it is increasing every day. And as much as it is confusing where to lodge your investment that would do any good, I think that it's fine that there are so many market players because it fosters better competition, and it gives other stronger coins a run for their money. A market that is one-sided and is inclined to only one coin is not an active market and would only stay for so long until its fall. Having lots of currencies helps in keeping the market afloat even if many of the strong assets are in decline.

[neo444]

Exist many currencies but without any high value the most currencies very useful in the net is bitcoin dogecoin ethereum and litecoin because their prices is high

[zentdex]

One of the benefit of having different crypto is to use a specific crypto for a specific task. Yes, bitcoin is the universal and most popular crypto, but other new crypto have their own advantages and could be suitable in a certain way. For example Ethereum is popular to use if there are smart contracts, Dash boast that they have the faster transaction speed among others while Ripple is eyed to be used by banks or money transfer company. But just like fiat currency, the globally accepted currency is dollar in the crypto world it is bitcoins, thus there are companies who prefer to accept different crypto or a crypto that is more suitable for their product or services.

[Herry toer]

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 cryptocurrency.
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 world is growing and technology is getting more sophisticated. Certainly, this can happen. The more currency it is a good thing. Because we end up having a lot of references.

[mOgliE]

Hi,

Actually, even in real life, you can create your own currency. You must define where you can use it and who can use it, and last, you have to fix a trading rate with a traditionnal currency.

With crypto, it is the same idea! So many currencies are created for specific uses. And indeed, with so many possibilities, it can be hard to understand which one has potential and which one is only used on restrained areas..

Personnally, I stick to the main ones!

[twinkledthomas]

The great race of bitcoin leads them. Some people wanted to make some money and some are made coins for fun, like dogecoin. Some scam coins are also made.

[bellanas]

I also think that recently too many new tokens began to appear, too many companies that want to seize the market

[romandos86]

Frankly,it's really interesting discussion, because i have the same thinks. If we wanna use crypto as a real money we need to unify currencies in one.

[appleyard]

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

We have lots of kind of currencies but we are using the solid currency the fiat or the local money and the crypto currency onw of those currency are bitcoin but if you are using currency to bought things they are using bitcoin those alts are has a value because of bitcoin and some other crypto currency are using as exchange currencies.

[Aleksandr_ov]

This is comparable to the program on the computer, each for something answers, there is no one program that could include music and calculate how many will be the root of 125!

[HANSY1337]

Thx, it was helpful

[mosbyhimym]

I think because create a currency will bring profits to the currency's owner and there are many people who are looking for profits so that's why.

[dvillier]

The main reason is trend in the digital trade these days digital trade is a hot issue and every one is looking for their own benefits so they are creating new and new crypto in the same way as in the case of fiat money where we have different currency notes for almost every country. Every digital trader is looking for their own and  their country benefits.