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Having ability to chose between multiple different coins is benefitial for crypto community. Monopoly of one or two projects wouldn't be good. No single coin can be good for everything.

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by COINS NEWS 87 Views

Many people act like world would be better if we would have just BTC or maybe additionaly ETH too, and that most other coins are totally unnecessary. It is like trying to find panaca to cure all diseases. Anyone who know even basics about medicine know one remedy can't cure everything and most likely would harm you. Simmilar in any business, one computer or one car can't be for literally everything, cause there are different usecases.

In crypto BTC or ETH are store of value, cool, safe, well respected, but also a hassle to use, very expensive, not fast enough, not private enough. That's why we have Monero for privacy and Matic, Nano or XLM for cheap and fast transfers. Additionaly multiple other coins for different purposes. Sometimes multiple coins for one purpose, cause they often try to solve one problem in different ways and give investors ability to chose solution they personally like the best. For example I use Matic for transfers, cause I also use Opensea, so it is two birds with one stone. Other person may like different coin to do transfers, but what is most important everyone have a choice.

Even disliked memecoins have their place in crypto world, memes are huge part of modern internet. Average guy that buy doge, shiba, pepe or other memecoins won't buy BTC or ETH, cause they don't want store of value, they want funny community with memes and hopium. It is just different niche, that is fulfilled in crypto. Without memecoins most of those money wouldn't be in crypto at all, cause, using comparation, even if you would forbid videogames, average gamer would't become book reader. People should stop acting some projects are better others are bad. Mire coins generally are heatlhy, mean less monopoly, more adoption and drive innovation. If we would have 2 or 3 coins in total, we would be years backward in terms of tech and usecases.

submitted by /u/Nuewim
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