Because cryptocurrencies are dependent on the reliability of distributed systems and cryptography. Both concepts are extremely tricky, the only true way of vali

Because cryptocurrencies are dependent on the reliability of distributed systems and cryptography. Both concepts are extremely tricky, the only true way of validating them is by trying to break them and failing, this takes time. But the floodgates have been opened. Also, who cares if there are several cryptocurrencies? If they have good properties (fundamentals) and people find them valuable, why not?