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 can easily understand that we have so many currencies because different currencies come from different countries. Also dont think that more currencies means more profit. No, there are only few that are credible enough and reliable. Choose wisely in picking. Make a research.
Here it does mean th fiat currencies, the op is talking about crypto currencies, most of the crypto currencies are decentralize and are not under control of the people, i think that most of the people are creating currencies for collect money through it, while some people in real sense create crypto currency for running a project.