Why do these coins exist?

[Anonymous No.6693947]

Why does REQ need its own coin? Why not just create your app and allow trading of other coins?

Why does Sia need its own coin? It's literally offering what AWS does, what's the point of having a coin?

Why does literally any company need these fucking coins? Why don't they just implement products on existing coins which are arguably better than theirs, what's the point of having a million different cryptos with a million different use cases each instead of companies building their products around a single crypto?

REQ and SIA were just examples, it applies to literally almost every coin out there except Bitcoin, Monero and a few others

[Anonymous No.6694103]

BUMP. This is a serious question.

[Anonymous No.6694186]

>>6693947
And this is why we need ECC, all this shit can be added on to the multichain network. People can pick&choose which chains to use to keep the chain size in check and it's open source so the community will be able to amend new services to the network if need be. All with 1 coin.

[Anonymous No.6694260]

>>6694186
It has the potential to literally BE the internet running on blockchain

[Anonymous No.6694306]

>>6693947
there will be seamless switching you wont even know youre using the tokens, itll be like put in your debit card, then 50 processes happen behind the scenes instantly, and you get the service

[Anonymous No.6694419]

>>6694306
ok, you can use a better coin, but why create your own extremely niche currency? that has no use other than the intended one, nobody will ever use siacoin as a store of wealth. it has a very niche use only.

Imagine having a hundred different currencies in real life, you buy food with a different currency and you pay the bills with a different currency. It just makes no sense.

[Anonymous No.6694502]

>>6694260
One thing that a lot of virgin faggot fuckfaces seem to forget is that there is no God damned blockchain without the regular internet running as well.

Or how do you expect computers connected together to run as hosts, oracles, confirmations, witnesses, and whatever else on any kind of blockchain.

I'm not sure why this is overlooked so often, other than that this board is full of autists and pajeets.

Stop getting ahead of yourself with internet this and internet that. Without regular internet and regular anonymous users running wallets, nodes, hosts or anything else from there regular internet connections, there is no God damned decentralized blockchain.

Everyone seems to assume that there will always be millions of computers running on a blockchain. Where do those millions of computers come from? It still needs to be practical. It only works as an overlay to the existing internet.

[Anonymous No.6694619]

>>6694502
Continued - or did you forget that some faggot from Rogers cable has to come and connect your house to the cabling system wired and controlled by private companies and governments. Are you so stuck inside your memes and wojaks like the autist you are that you forgot about all this? The internet is the internet, and needs to serve its continued normal purpose in order for blockchains to run decentralized on top of it.

[Anonymous No.6694771]

REQ(the company) promises a mobile application that allows users to send cryptocurrencies from one devices to another instantly. REQ can do it with monero, bitcoin, raiblocks etc., why does REQ feel the need to make users use its OWN cryptocurrency aka REQ(the coin)?

[Anonymous No.6694932]

Many coins simply exist as a defense against ddos like attacks. Have to have token to create a transaction, or a token is used and you are charged a fee, making it too expensive to ddos

[Anonymous No.6694995]

they dont.

most functionality these services offer will eventually get rolled into the second layers of coins like btc/eth as one of many different specific applications. this is like the bubble's pets.com which warped into the present's amazon.com

[Anonymous No.6694997]

>>6694932
Makes 0 sense. It's so stupid it's not even wrong.

[Anonymous No.6695072]

>>6693947
They dont. But it brings 500% more attention from teenage investors if they release their own coin.

[Anonymous No.6695088]

>>6694502
you misunderstand, the internet in these analogies is the infrastructure, the raw pipes for sending data and routing packets to IPs. that's it.

everything else layered on top are just applications on the internet, websites, email, dns, etc. no shit you need the internet for blockchains to work, just like you need the internet for email to work.

[Anonymous No.6695135]

>>6694306
if that is the future the next step is for most of these coins to disappear then. if there's no longer any lock in or friction, then tokenless applications will easily take over as they offer significantly less overhead (very important for blockchains), and significantly cheaper (very important for end users).