Topic: Benefits of developing coin. (Read 109 times)

Thats the point mate. I'm not generalizing it but few of these hardcore dev are gonna do what the past did no matter how much good they are based on experience and knowledge. But that's how life roll, even Vitalik sold his bag, maybe its part of his reward for bringing out ethereum. This is cryptocurrency and we must bear the fact of having such cases like devs got rugged, steal funds from investors, sold his share and etc.

But I have no grudge against them. Vitalik is a good man and I really look up to him when he did created this eth network.

Many coins that have been created in the past and those that will be created in the future only exist so that a centralized group (core developers and those close to them) can profit from them. They don't offer anything new or create any benefits to the users compared to what was available before their creation.

cryptoaddictchie mentioned Vitalik. I think he sold like half a million of ethereum many years ago. Charlie Lee, the creator of Litecoin did the same thing with his bag of LTCs. I am sure this list is much longer, but you see the point.

If the coin ends up as a shitcoin .
During ICOs sales and launching most developers overestimate the future of their coins even before listing. At the end, this leads to investors badmouthing and lashing out at the developers.

You don't blame the investors though, nothing hurts than seeing the coin they high purchased during ICOs listed as penny in an exchange.

You will be open with backfire and dissapontment and even cursed or worse being tlak about in so many ways. I never imagine how much frustration developers experience when they being criticise by open public. For example of this is Ethereum founder Vitalik who has been into rough days when some people saying his project is a shitcoin and his just using this project for personal interest. Who knows maybe that what's supposed. But like what is asked its really a disadvantage for a developer especially if you are known and not an anonymous creator of such project.

Most of the money from proper PoW coins goes the the electric companies and hardware manufacturers.


Your list needs a better classification, and from there the dev/creator advantages derive:

[1] proper coins
The main advantage of the creator is that he can mine early a number of coins, which, if the coin is successful, will hold great value in 10-20 years. Of course, many others will mine with him, just because they've paid attention.
In time, the dev/maintainer may get funding for his project.
If the coin is successful, he becomes a public figure and will go for various speeches here and there (and probably not for free).

[2] centralized, IPO, pre-mine coins, coins with developer fee
The creator will have a big amount (up to 100%!!) of coins from second 1 that he can sell and he can also manipulate the "emission" and the market too, hence manipulating the price.

[3] coins with developer fee
The creator will accumulate coins from every mined block. Coins he can use in various ways (see [2]).

[4] fork coins
The history shows that the most advertised fork coins were made by people having already big amounts of Bitcoin.
So they've got in their pockets from start that amount of fork coin to use (see [2]) plus the amount of Bitcoin they'll also use for advertising their coin.
All in all they risk their Bitcoins to create and advertise something else in their hope for supremacy, power, ... (and, sadly, it partly works)

Thanks for your direction to move the topic, i appreciate.

First of all, not all those coins listed in your list had a public fund raising, Bitcoin for one never had an ICO.
For those which went through the fund raising route, the devs usually include the fund distribution on their whitepaper; this would indicate what percentage of the funds:
• Gets reinvested in the project,
• Goes to the developers
• Gets giving as dividends to investors etc.

I would say the over saturation of that space, there was a time new valuable coins which solved (or attempted to solve) real world problems were being issued, but due to the ease of creating a new token, shitcoins took over and it became increasingly difficult to find a good project.

P.S, this is not a Meta topic, you could move it to amore suitable board like beginners and help or altcoin section. The 'move topic' option is at the bottom left of this page.

We have numerous kinds of coins that's in existence today and functioning properly like Bitcoin and popularly known as cryptocurrency, so developing a coin in different form such as Ethereum coin, litecoin, Bitcoin cash, ripple coin, what are the benefit of developers and how does coin developer's generate fund's from their coin market industry, when coin is been known and become influential across the world, because its confusing that coins we buy and store we don't know its channel, so the money we use buying coins were does it belong?
The list of coins we purchase, such as the following.
∆ Bitcoin
∆ ethereum
∆ litecoin
∆ cash coin
∆ BNB
∆ monero
∆ ripple coin
∆ tron coin
∆ TRC20
∆ Bitcoin cash
Were does the funds of all these coins listed goes to

What's the Disadvantages of coin developers
Really it's open and clear that whatever that's have advantages, in another form also has disadvantages, so in this scenario what is the disadvantages of who are coin developer? Because from nature of things I think the disadvantages will be higher than the advantages because it's not all coin that's been developed that are influential to the society or in cryptocurrency industrial market, I will like to know the different between the merit and demerit system of coin developer's and possible ways to have a project that will be influential.