I feed mine shrimp/algae pellets, frozen blood worms; they'll basically go for most anything. Usually once per day. Some times I'll skip a day when I'm fasting the tank.
I do sinking wafers, bloodworms, flakes..whatever falls to the bottom. My female betta and 2 danios always seem to be on site first..even if I feed them when the lights go out. So I Gotta make sure the corys are getting a fair share
Yup yup the reason behind it is cuz fish in the wild dont always find something to eat so its thought that if you imitate this in the home aquaria then they should be healthier. Personally I dont do this either. Only time they fast here at my house is when I got out of town for a day or two. Other wise they get fed daily. How I see it is in nature the fish dont get fed prepared food or get medicated when sick or injured. Most animals in captivity survive longer then there still wild relatives since we provide them with constant care and attention.
All in all I do what makes my fish happy within my budget and eating daily makes them super happy.