why so many currencies?

[catcoin524]

We live in a free world in free countries. This means that we have a free market.
This is natural and its the evolution of the world economy

[Ocherill]

Its circulated so wrong. All those ETH and others you told of ae different tokens and not coins just like btcs

[GoForICO]

Right, when doing an ICO it can even be important to decisively not offer an actual currency, but a token only, for legal and tax reasons.

[alex6464]

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

[Labonikhatun]

I'm reading and learning a lot about cryptocurrencies lately. I also invested some money in it. I find that many websites repeat themselves, resulting in always reading similar information about cryptocurrencies. What i fail to understand is why so many cryptocurrency exist? None of them will never be used for real life applications so i fail to understand why people would buy these. I'm clearly missing some info here currencies.Some tried to improve upon bitcoin LTC,ETH,etc.

[saberibm3]

its better to have so many currencies because for that the pressure and overpopulation on only

[ezeminer]

I'm reading and learning a lot about cryptocurrencies lately. I also invested some money in it. I find that many websites repeat themselves, resulting in always reading similar information about cryptocurrencies. What i fail to understand is why so many cryptocurrency exist? None of them will never be used for real life applications so i fail to understand why people would buy these. I'm clearly missing some info here currencies.Some tried to improve upon bitcoin LTC,ETH,etc.

Some currencies try to improve upon other currencies. There are revolutionary currencies like Monero that offer one of the only true privacy, ethereum which offers smart contracts, siacoin or storj which tries to do decentralized data storage. Each one has it's own pro's and con's. TBH most tokens I've seen are just a cash grab which screw people once it hits an exchange. The coins that have their own codebase which usually show a little more effort was given, but many can be copy and paste sort of like garlicoin which forked from the original litecoin code, but is trying to compete as a meme coin to dogecoin.

Things of that nature, some want to improve the code that was originally developed, and many want to do ICO cash grabs and create shitcoins in mix.

[SchiefelbeinBTC]

We all need to restrain from this crypto world. There is nothing real in this world and all are just involved in massive game of virtual gambling

[bananaunana]

Hey, I'm new here. Very happy to see you here

Nice to know crypto is going back up, but also we must realise more currencies means lower value each cryptocurrency.

[paulmaritz]

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

Competition is good my friend. It helps to ensure that only the best of the best will survive at the end of the day. Unlike fiat currency, the acceptance of no crypto should be forced onto anyone. We should be free to choose the ones that we personally like and/or prefer on an individual basis.

[volleyballslenderF]

We will only be able to benefit from those currencies that are new.

[tojukaka]

I believe that the idea of a one world currency is a little bit scary. We are in an age where corporations and individuals can produce their own currencies. I think this is fine. We need so many currencies to ensure decentralization in the way funds are being created and distributed. No one should have a monopoly on anything even if its currency
But I believe most coins are shit. Only those coins with true value and real-world use cases will survive when all the excitement is over.

[mashedtasks4]

There are many companies that uses ICOs to raise the capital use them.

[orangeibmportD]

The best is to stick to the 50 biggest and new coins as you can trust them.

[PSL]

Each cryptocurrency is focused on a specific audience. For example, the tokens on the basis of Ethereum have become the standard for carrying out ICO. Monero is suitable for those who care about serious privacy. There are many such examples.

[equestrianbucking]

There are very less benefits in having multiple currencies and that is not going to help.

[jemarleon]

There are lot of things you can do with them, you can join their ICO and if successful you will get a big profit and you can also join their airdrops and bounties to earn some of their tokens in by promoting their projects.

[ferall]

Way too many currencies, nearly all are waste of time and worth nothing.

Masternode scams are producing buckets of shit coins.

[pstraene]

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.

That's exactly how I see it. many have bad ideas and want to run away after the ico. and after 4 weeks, it does not interest people anymore. It is too easy to make a coin today. Every child can do that. but 90% of all cryptos will disappear later and only the good survive

[Brightcrypto]

Every crypto has his own purpose to serve, as service in coin market with a difference value.