No, local/community currencies can provide utility that a high liquidity currency cannot on its own. Look at the Moon token that /r/CryptoCurrency issues to its

No, local/community currencies can provide utility that a high liquidity currency cannot on its own. Look at the Moon token that /r/CryptoCurrency issues to its users, to give them a stake in the subreddit's success. It gives millions a foot into the door of the crypto world. Small currencies are complementary with large ones. Large ones meanwhile can provide competition to each other that ensures the consumer gets the best quality store-of-value/medium-of-exchange/smart-contract-platform/etc available. Generalizing them all as scams is really overly simplistic, and hostile to contract freedom.