why so many currencies? - page 2. | Bitcointalksearch.org

ershovspa

newbie

Activity: 144

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Quote from: sv624 on October 16, 2017, 10:23:13 PM

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

Devs will.
There are too many currencies because it's very easy to make one, basically anyone can do it, and the devs get fast money.

cryptocurrencysamurai

newbie

Activity: 7

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With more currencies we get more experimentation, they each get to try out different ways of doing things
Also, once another coin experiments, if its a success, it can be added into any other coin,
this is the beauty of open source code

petyang12

member

Activity: 352

Merit: 10

Quote from: sv624 on October 16, 2017, 10:23:13 PM

Why can't they just use ETH? Just like all IPOs use dollars.

Most altcoins are all erc20 or base on ETH. Altcoins may be useful in some other ways if their altcoin has a goal that is helpful to the economy. Some altcoins are shitcoins that won't be used by people. Some made altcoins for those people who can't afford bitcoin, in some other ways they use altcoins for smaller business to earn profit.

imran008

newbie

Activity: 28

Merit: 0

this is what I have tried to show people in the community, we will not know by the way the form benefits from having multiple currencies. It will not help others that we have many altcoins who can do this, but not used by anyone. If all these people gather behind Bitcoin and give news of time for Bitcoin.

fenzuijk

newbie

Activity: 56

Merit: 0

With so many cryptocurrencies, I think it is normal, and it also shows everyone's recognition of it, because if there are only a few people who agree, it will not produce so much. So you need to seriously choose, choose those who have more participants, are generally better.

ngoisao

newbie

Activity: 16

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Simply if there is only one bitcoin, there will not be any trading platform sprouting up,
Types of guest altcoin are born only to make the background for bitcoin and they use them to make a profit.
It is the same as the name of the stock in IPO, so the value will also change over time.

Kertmu

newbie

Activity: 182

Merit: 0

I think this is just the beginning, with more currencies every day, and soon they can be used on equal terms with the dollar, euro or yen.

NENL

newbie

Activity: 12

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I think, to unify a common currency around the world, it takes time, in addition to unification will face many difficulties, because many countries do not accept bitcoin. Because the purchase of goods in bitcoin currency is very difficult for both buyers and sellers.

Peetxvg1

newbie

Activity: 17

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Beocuse it is trend to have own cryptocurrency Cheesy

And on ERC20 it is easy to make some

cryptobdcu

newbie

Activity: 28

Merit: 0

Quote from: inquirybanjoE on June 04, 2018, 08:35:47 AM

Every one is here to care for his own benefits only. They think of theirselves only. So they enforces own currencies.

Well-said,but not all,
you have to decide yourself,I think self-research of ico and coin is best in crypto,although you can combine others suggestion but not blindly as there are spammers and scammers too Wink

cryptobdcu

newbie

Activity: 28

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Quote from: sv624 on October 16, 2017, 10:23:13 PM

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

You have to hodl crypto currency in terms of their use case in real life,as there are lots of shitcoin means someone need to be rational to know which coin will be use in real world

oxygensignatureR

newbie

Activity: 34

Merit: 0

Not all are currencies but most of them are tokens having lesser values than that of currencies. The tokens refer some offers and values only.

inquirybanjoE

newbie

Activity: 32

Merit: 0

Every one is here to care for his own benefits only. They think of theirselves only. So they enforces own currencies.

meowskie

newbie

Activity: 38

Merit: 0

That currencies have different in decimal point but have the same value with bitcoin. Maybe it can be useful in the near future.

Minerall

jr. member

Activity: 235

Merit: 2

There are not so many cryptocurrency but i have understood your point. There should be a check and balance for these cryptocurrencies to maintain the quality of the market.. But what can we do? It is a free world to live.

Kopceak_MD

member

Activity: 366

Merit: 14

Investment

I think that most of the tokens will die out in the near future, they will not survive cryptocrysis, which will come very soon

janaiz

member

Activity: 169

Merit: 10

Quote from: sv624 on October 16, 2017, 10:23:13 PM

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

Nowadays, it is because individual nations want to be able to control their own monetary policy, simplistically, the rate of growth of the supply of money, for the purpose of economic growth and/or stability. This becomes much less effective if several distinct economies are forced to use the same policy. It's like if New York City and Albany were forced to spend their city budgets the same way.

birzh0

newbie

Activity: 182

Merit: 0

Quote from: sv624 on October 16, 2017, 10:23:13 PM

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

this is one of the reasons why the future of such lot number of tokens is meaningless. i think in few years there will be limited number of tokens, not like now in coinmarket Grin

xAnima

newbie

Activity: 69

Merit: 0

Of course there are many Cryptocurrencies and this is due to the fact that Blockchain is being used on the daily and being integrated into different Platforms. Cryptocurrency is what we use in those platforms so that it can run and sustain its operations.

rayans

newbie

Activity: 16

Merit: 0

I think many currency because it's have a future. But I am confused good or bad future Huh

Topic: why so many currencies? - page 2. (Read 3051 times)