why so many currencies?

[lauranaura67]

Because it's a wild west at the moment and everyone and their grandmother is trying to launch coins and ICOs and profit from the volatile market before regulations kick in.

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[drukoz2]

Yes, now we see a lot of different coins, but absolutely not all of them are safe and promising. Now everyone is trying to create your coin.

[rtm125]

Now cryptocurrencies are so popular that everyone seeks to earn as much as he can. Someone simply invests, someone decides to create their own currency. But not always successful.

[Bitexpert2017]

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.

[Froloff92]

Just like many businesses, just like many shops, just like many companies the same is for currencies there are so many currencies and they are trading on daily basis many people are looking at the top and bottom of these currencies and become profitable in the future.

[megynacuna]

Just like many businesses, just like many shops, just like many companies the same is for currencies there are so many currencies and they are trading on daily basis many people are looking at the top and bottom of these currencies and become profitable in the future.

Precisely, this is human nature and whenever something pops up the scene people try to replicate or create something out of it in a bid to advance it or challenge the existing one. Some do it for the money, others for educational purposes and advancements and so it's not surprising there are many other altcoins and many currencies around the world which more or less are serving the same purpose.

[tranthetai]

With blockchain development time as now, if the next it will be thrash. Tôi nghĩ mỗi công ty đều có một loại đồng xu riêng. Our collections for the private equity and development of business.

[trukramor]

So far there are only fiat and bitcoin. Presently, for digital currencies only bitcoin  can be use a mode of payment.

[FullMooon]

There is so many crypto-currencies today because many people started build using the block chain technology, because of block chain technology they can make a decentralized crypto currency.

[jerowacik]

Btc can only release 21 million coins. But there are already issued crypto-currencies with an “unlimited” number of coins. More precisely, the number of coins in circulation is limited, but every year an “inflationary percentage” is added.

[hajimasan]

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

In actual this world is full of all types of the people and as we know that everyone in this world is free from every type of the work to do and make any type of the experiment to show his talent .
So with these conditions many people enters in this field and make Thier own coin to make profit from ICOs Investment and also few people are making coin to compete high level coin and want to give more perfection in the technology of the cryptocurrency .
So they we are seeing lots of cryptourrency in this field Field of online world .
But here at another side we can see that there is a option for us also to make earnings from new new ICOs Investment of new new coins and also due to availability of more numbers of the coins people go with the Investment in multiple coins and that will increase demand of the bitcoin as a Investment asset .

[icohunter1024]

I think ETH is not a currency coin, ETH is a fundamental coin. Currency coin is bitcoin, litecoin, dash, zcash...

[Lady Ong]

Altcoin is like person's, though we are.all human but every individual of us has their own personality and role to play in the society.
Same with altcoin, they function based on their purpose...

[butrsukumpanumet]

Answer is: because anyone can make one. So far bitcoin has been the most famous of all because it has usage in the real world like purchasing products and pay for services.

[Kriptomen_51]

There are several reasons for a large number of currencies:
- The new systems are decentralized, which ensures that there is no oversight by the
governing bodies. The issue of new money is a programmable process, which does not
depend on the level of supply and demand, but on the complex calculations in the
computer network, as well as solving a number of problems miners.
- No or minimal level of commission.
- Anonymity. Payments that are made online are completely anonymous.

[mlgblockchain]

It's disturbing me as well. I don't see any point what so ever for this huge number of crypto currencies. Literally there's no use for them. They are simply useless as a currency. Even Bitcoin is fighting to become a currency because everyone sees it as a way of investment. Except few altcoins, all the others couldn't even begin to become a way of investment. They are just some kind of token nothing more.

[KHodl]

Well this is what I've been trying to show people in this community for the longest time, we won't in any way shape or form benefit from having multiple currencies. It's not going to help anyone that we have tens of thousands of altcoins that can do this this and this, but aren't used by a single soul. If all of these people rallied behind Bitcoin and provided news time for Bitcoin we'd be even higher in price and we'd have more people actually using it, but no, we have tons of Altcoins that are shit.

No reason, just greed for the developers that make these shitcoins and sell them in mass amounts.

Agree to some extent as price does not indicate success - this can be seen with the amount of shitcoins with huge market cap. Bitcoin itself is becoming increasingly difficult to build on for adoption so alternatives do need to exist particularly in payments so I expect scams to die and real projects to show through inevitably.

[MondayTraddd]

To make the crypto workers avail with more various options to go for during investments.

[drudgecare4]

may be the technology shown by the satoshi encouraged people to develop their own currencies to make individual profits

[Novania]

Because each country has a different percentage of inflation where a country with a moderate and stable inflation rate will automatically increase and strengthen the purchasing power of its people, interest rate differentials, inflation and exchange rates have a close relationship, the ratio of export prices and import where if the price / ratio of exports increases greater than the imports then there will be strengthening the value of the country's currency.