Why are there so many coins besides Bitcoin?

I’m Jimi Fitz, also known as Crypto Fitz, and one of my favorite things to do is get out into the community and answer real questions about Bitcoin and crypto.

This time, Fitz sat down with Johnny from Cornisa, who asked: Why are there so many coins besides Bitcoin?

Fitz explained that creating a digital coin is surprisingly simple. “Because we could start a Johnny Coin tonight if we wanted to. It’s a digital protocol. It’s a digital computer program. Tonight, I could start the Johnny Coin,” he said.

But the real question, Fitz noted, is whether a coin has value beyond its name. “Why would anyone want to buy it? Is there any utility to it? What are the benefits of buying a Johnny Coin? That’s the big thing,” Fitz said.

He emphasized that while there are thousands of coins out there, not all of them serve a purpose. “What’s the utility of that coin? What does it do? That’s the big thing. So, no, Johnny Coin’s not going to be bringing you top dollar, at least today.”

The takeaway: while Bitcoin remains the leader, other coins need real-world utility to matter.

Thanks to Tradition Upholstery and Cornisa Custom Cabinets, where these community interviews were filmed.

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