The world of digital currencies is growing exponentially, with new altcoins being created all the time. While some may be novelty coins with little genuine value, others may have unique features that make them more useful or desirable than traditional fiat currencies.
It’s important to remember that not all altcoins are created equal. Some may be more stable and have greater potential for growth than others. It’s also important to be aware of the risks associated with investing in altcoins – some may be unstable and have low liquidity, meaning they’re difficult to trade.
That said, there are a number of reasons why people may choose to invest in
First, to answer the title. Yes. We need competition because it increases demand once investors has proved what difference altcoins and Bitcoin has.
No all altcoin are created equal. That's real. Why? They have different focus to project at. One could be about financial and the other about an exchange.
If you are to see what ICO projects are made off, you could easily understand this.
They have to be different to pull more investors. Unique. But I don't see that anymore. They are just trying to recreate what had been done before.