Why do industry-specific tokens exist when BTC exists?
e.g. why does BAT exist for the advertising industry when BTC will work just as well? why does GAME exist for games when BTC will work just as well? why does GNT/SC/MIOTA exist for computing when BTC will work just as well? why does XRP exist for banking when BTC will work just as well? why does FUN exist for gambling when BTC will work just as well?
why does america exist when britain works just as well?
>when BTC will work just as well?
Top fucking kek
Different industries will want different services from a currency. If a currency's developer does not want to implement the framework for such services, alternate currencies start popping up.
Now that we can program currency it makes total sense for each industry to make it's own industry optimised version.
Because you're talking about ICOs. An ICO is a company and their currency is stock in that company. They're not cryptocurrency in any sense of the word.
>Different industries will want different services from a currency.
Nice hypothetical but I will need to see a non-trivial example.
No it doesn't.
No. BAT is a currency for example.
why do giftcards exist?
>2030
>0.50000000 BTC in my account
>pay phone bill
>have to convert some BTC to phone credits
>pay water bill
>have to convert some BTC to water credits
>pay electricity bill
>have to convert some BTC to electricity credits
>pay gas bill
>have to convert some BTC to gas credits
>drive to work
>car needs a new tire
>have to convert some BTC to tire credits
>stop for fuel
>have to convert some BTC to fuel credits
>eat lunch
>have to convert some BTC to mcdonalds credits
>stop for coffee
>have to convert some BTC to coffee credits
>sleep with hooker
>have to convert some BTC to sex worker credits
>go home
>unlock door
>have to convert some BTC to door unlocking credits
>turn on tv
>have to convert some BTC to tv credits
>watch netflix
>have to convert some BTC to netflix credits
>friend asks to borrow some money
>i lie and tell him that i'm out of friend credits
>he says he will accept BTC
>i lie and tell him i'm down to my last satoshi
>decide to go to sleep
>decide to fap to hentai instead
>have to convert the last of my BTC to dickgirl credits
>check my wallets
>my employer has paid me labour credits
>i convert the labour credits to BTC
>convert some BTC to chaturbate credits and fap online to girls
>go to bed
> charged sleep credits for going to bed
> the jews tax each conversion
> you are poor after 1 day
why do niggers exist when chimpanzees exist?
Obviously your a tard xrp settles 5 seconds almost nonexistent fee high liquidity and your comparing it to bitcoin 1-2 hour confirmations high ass fee and has off chain network so you can pay a subscription if u cry
They don't compare dumbass
Yet.
> use one app with smartbridge for everything
Because Bitcoin is shit. There are far better projects nowadays.
Why are you so mentally retarded? Each coin has a different use. These will all be used in the backend in the future. The fact we are still dealing with wallets and shit still shows how we are in the infancy.
Normies will adopt when they don't have to deal with wallets, and can just go to their bank and use crypto
Still no good answer. Try the easiest question:
>Why does BAT exist?
Solving the double coincidence of wants problem is what money is for. Hint: BTC is money. It doesn't need ARK.
>Each coin has a different use.
No they don't, they only pretend to. They are all mediums of exchange.
>contents of all dreams becomes dreamcoin intellectual property
>have to pay dreamcoin every time parts of old dreams appear in new dreams
>still has ads
Because its an easy way for the token maker to raise funds/be in control of their currency and we get to ride the pumps
Maybe when smart contracts come to bitcoin we will see less of them
OP is right, reality is that most (if not all) of these coins don't need to exist, and in time, probably won't.
>Because its an easy way for the token maker to raise funds
Ding ding ding! Because it's a get-rich-quick scheme of no value.
>An ICO is a company and their currency is stock in that company
neither of these is true. if you buy during an ICO you own 0% of the company. ICOs are not IPOs
I'm ok with this. I don't want the wild west to end or care that most of these tokens will become worthless.
Damn, I guess you've got a point.
I mean the only real counterpoint is how slow and insecure bitcoin is, but that doesn't matter if normies think it's safe. If bitcoin can be modified to be more efficient then sure, it'll be the only relevant crypto. Big if though, especially with other players starting to contend BTC's share of the commercial market.