why so many currencies?

[angelakrasnova]

The block system also does not stand still and develops and adds for us new currencies for convenient purchases and invests

[Spades77]

Yes we do have a lot of currencies out there in the crypto world, and I think we will not get benefit from all of them, I can say from a few yes. but not all of them. Since Bitcoin has been very successful although there still some limitations people took advantage of that and create their own currencies, more often than not scams and fraud just to get and take advantage of some people who don't know much about this world.

[hirokazu]

Basically, the goal is to continue to supplement the deficiencies of previous coins and to become coins that can replace bitcoin later on. Then the owner will be a very lucky person. But it is now abused, many of developers make a coin for merely a hobby or for scamming people.

[NeoTech42]

We are still in a new era where cryptocurrencies are finding their path to a future existence. So in this new era, there will be more competition to prove which currency is the best among the same sector.

[charlotte04]

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

Many people are just competing to be the best company, but some people are just making some new coins so that they could get some money for themselves.

[adiksau0414]

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.

[DziugasB]

Most of the cryptocurrencies are not made for transactions to buy milk in grocery stores. Companies are using tokens for users to buy their own services.

As for your example, mills will not create their own currencies but rather use existing ones.

[ridgeview123]

Very good question and very good answers. This was my question too when I get to know more about the crypto currency.

[xWolfx]

It's because people don't agree with something in the Bitcoin technology and since Bitcoin is decentralized and nobody can really change it they just make forks(Other cryptocurrencies) to fulfill their need.

But like i saw in the post about the unofficial list of rules: Bitcoin is Cryptocurrency and the others are child's play. I completely agree with that statement.

[jimskiy]

I am glad with many currencies always born every day, it will be more benefit we will get which have many currencies in daily, just look some currencies always have in daily where the price in the first currencies day to small and cheap, but day by day and week by week the currencies will be up and high, it will be great moment to get many reward and get the profit, so why have to worried about have many currencies in daily.

[Linggis]

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

As time goes by, everything is getting more and more and more sophisticated technology. So it's perfectly natural that more and more new currencies are emerging these days.

[tannerchum]

Their is an exact reason why a lot of currencies because bitcoin is known all over the world it means their are different languages and different equivalent of their money. Maybe that is the purpose in each country they have specifications of currencies what to use and it is depend of the token what will be and it has different usage too.

[jakoylantern]

For me, they just want to create their own cryptocurrency that we know that they can control its price and more. But we all know that the possibility of it to become successful it depends on your investors and users. That is just an economic war; small business wants to become famous and prominent. Imagine you own the store? and some other stores notice that your store become most successful because of some cryptocurrency advantage card, so some store will copy and create they own to make sure that marketing demand for your products will be lessened. 

[harimauagam]

because in every country must be different currency like, dollar, rupiah and so forth if every country of the same currency of this country surely will not advance one bit.

[Marileno]

Greed. Everyone is trying to cash in on the mania that is going on. This is natural and historically normal when a new space opens up. Sorting through the carnage is certainly a skill set and those who take the time to research and learn will be in a position to profit from it.

[Majharul Saiif]

For compare and make or keep the market condition good and competitive ,there need alternative things for this.Then the market condition will stale more.Bitcoin is the first crypto currency in the world.Now,there have some currencies available for trading or investing.So,we can say that the market is competitive now.

[Santachigo]

There are many currencies to fit the human development. Today, the world is growing and the use of currencies has grown by and this is also the reason bitcoin was born, as a campaign to facilitate the supply, encryption, automation and Reduce the disadvantages, as well as reduce costs in the blockchain campaign. And many currencies are born to meet all human needs in the right context, increasingly diversified and modernized. So there are many currencies.

[ogini]

So many of this Cryptocurrency will fade out with time,some will be pumped and dumped and will be no more active in the market.That is why it is good we should be mindful of what we invest our money.

[SailorCoin]

The problem right now is, that cryptocurrencies are very hyped right now. And many people want to make fast money. So they are a lot of people who have the know how in coding, and with the open source blockchain tools they can create fast an own coin. Creating Tokens on ethereum base its even more easy. So they start in the hope hey will become the next bitcoin. Some of them are good in marketings and the coins will some value like 5$, but they are neer worth. So watch out and decide for coins with good projects and devs behind.

[emycoin]

Everyone see a good opportunity to make money.. In my opinion, with time we'll see less new altcoins that are really interesting..