Quote from: StevenRA on October 17, 2017, 05:39:57 AM

"We" don't. But the people selling the currencies do. Sad

Quote from: sv624 on October 17, 2017, 03:23:13 AM

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

because it is easy to make it, so this is one strategy to commit fraud, with the number of coins available then they will be hard to distinguish real coins by fraud and some of them invest in fake coins. then they will incur losses.