Creating an altcoin, how complicated is it?

adurakov

copper member

Activity: 27

Merit: 1

CEO in letitplay.io - audio layer of The Internet

Quote from: Nebell on January 21, 2018, 07:53:53 PM

I've read about people creating altcoin in 2 hours and selling it to someone for 0.1BTC.

So I guess it's not that hard to create a shitcoin.

But what about good coins? What do you need to know to create a coin? I'm not a programmer so I have no clue, but my guess is you need to be a programmer of some kind?
I have a great idea for a coin, but I have no idea how to execute it.

Creating a token on Ethereum or Waves blockchain is pretty easy. Creating a coin is much more complex. You have to create your own blockchain and build an infrastructure for it. But even more complex tast is to write a whitepaper with balanced economy. Our team letitplay.io has being working on advanced attention economy for 6 month and it is still not finished because of huge amount of counsultations with experts.

alex_kir

full member

Activity: 490

Merit: 100

Quote from: ?? on ??

It may be easy to make a coin but it costs a lot of money to promote it. And if no one invests in your currency, it will slowly disappear from the market. So technically you need money to make money.

You have correctly identified everything, it is so, in order to create a coin and also to create a demand for a coin, it is of course necessary to have a lot of money on the deposit in order to at least send out your coin. I'm not talking about the stock exchange, as far as I remember the coin listing costs about 50 BTC

keung0109

member

Activity: 164

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I mean Polymath covers security tokens. You use their platform to launch your own. Very good project in itself. https://polymath.network/

Hiromono

jr. member

Activity: 65

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Bitcoin 2 Team

You do need to be a programmer or hire one to make any modification to an existing cryptocurrency and create a new one. Creating a token is very easy. Creating a new type of a cryptocurrency that doesn’t copy almost any code is very difficult. But since most are open source, copying is possible.

Pleione527

full member

Activity: 266

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For those who are well knowledge about developing altcoins I guess it is really easy for them to create coins but what's actually the issue is not creating a coin but rather how they will market them knowing the fact that nowadays there's a lot of digital coins are out in the circulation but only few of them are properly marketed or being use by most people so as much as you can create an alt better consider the technology it has so it can compete in the market

Nebell

full member

Activity: 406

Merit: 104

Thanks for the replies all.

I don't want to create a shitcoin, and I'm not interested in getting an ICO as I see it as risky business and my attention span is of a 5 year old so who knows if I'll ever finish it.
But I would love to give to give it a try as a hobby, and who knows maybe even make it something that a lot of people will use.

What programming language do I need to learn?

bitor

member

Activity: 210

Merit: 10

But why do you wand to do shitcoin and sold it? If you have really great idea, you can have a deal with some investors and do this job.

Balab01

member

Activity: 462

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To create a standing product, you need ICO, even if you create a coin with the help of programmers, you can't attrac appropriate investment without a good ICO. At the same time, there are so many risks that everything invested is gone.

setifien19

full member

Activity: 474

Merit: 101

Well, you said you have a great idea, then I suggest that you learn programming & simultaneously keep improving/modifying the idea , coz I think when it comes to such projects, it's better to work on with ur own resources ( financially & technically ) .
But you can also hire some devs ( trusted ones especially ) but the inconvenience resides in the misunderstanding that can occurs when it comes to explain the idea's goal .

BCTBF

sr. member

Activity: 560

Merit: 257

Quote from: Nebell on January 21, 2018, 07:53:53 PM

I've read about people creating altcoin in 2 hours and selling it to someone for 0.1BTC.

So I guess it's not that hard to create a shitcoin.

But what about good coins? What do you need to know to create a coin? I'm not a programmer so I have no clue, but my guess is you need to be a programmer of some kind?
I have a great idea for a coin, but I have no idea how to execute it.

I also do not know about it, but I can only think if someone who makes a coin, is definitely an expert in the field of programming which can then be developed for blockchain. I've also seen a video about it, and according to my conclusion is making smartcontract is the first step to make a new coin.

I_Like_Dogs

full member

Activity: 154

Merit: 100

Do not do it, and if you are going to develop one in order to create an ICO, you would really deserve to go Jail because doing this kind of trash. You need a lot of money, and coding is not the difficult part of it.

Quote from: Nebell on January 21, 2018, 07:53:53 PM

I've read about people creating altcoin in 2 hours and selling it to someone for 0.1BTC.

bountyjunkie

member

Activity: 168

Merit: 10

WEICROWD.COM - ICO Tech, Funding & Exchange

Can be done under 60 minutes and some gas but that's not the point. Why are you creating the token for? that's important.

Nukleo

member

Activity: 425

Merit: 10

At the heart of each crypto currency is the base code. So, you need to take care of it first. You do not have to create it from scratch yourself. On specialized resources, you can find ready-made codes that are already taken from the functioning digital currencies.

locolive

newbie

Activity: 85

Merit: 0

For a good coin you will need a lot of marketing and pay to a big exchange list your coin.

Check this website https://cryptonotestarter.org

AltcoinAuthority

sr. member

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CryptoTalk.Org - Get Paid for every Post!

Quote from: ?? on ??

It may be easy to make a coin but it costs a lot of money to promote it. And if no one invests in your currency, it will slowly disappear from the market. So technically you need money to make money.

It's not about making the money. It's about building something that people would want to use compared to another system that people are already using.
If you can't build the new technology for systems then don't try to.

alex_kir

full member

Activity: 490

Merit: 100

In fact, there is nothing complicated in the creation of the smart contracts themselves. The most important thing is the idea and implementation of this idea, and of course the product itself. Now there are a lot of different kinds of guides on how to create this very smart contract

Pierre 2

legendary

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As far as I know creating erc20 tokens are bit hard but not so much if you are only planning to release currency. Waves tokens are even easier. But its hard to write new blockchain.

randee888

member

Activity: 88

Merit: 12

If this coin you want to create is just simple coin, its quite easy mate. The coin only have like basic cryptocurrency like another. just can send and receive also mineable. But if you want to create more complicate coin such as can be stake or else i guess it will be more difficult. Yet you cna create erc20 token in ethereum smart contract in 15 min. Its all on you wich one you chose.

befriendmywater

member

Activity: 658

Merit: 10

Creating an altcoin is really easy if you have some money to work with. You can hire people to do everything except owning it. It could be considered as an investment.

commanderbitcoin

member

Activity: 238

Merit: 10

Quote from: Nebell on January 21, 2018, 07:53:53 PM

I've read about people creating altcoin in 2 hours and selling it to someone for 0.1BTC.

So I guess it's not that hard to create a shitcoin.

But what about good coins? What do you need to know to create a coin? I'm not a programmer so I have no clue, but my guess is you need to be a programmer of some kind?
I have a great idea for a coin, but I have no idea how to execute it.

Creating it is easy as breeze but it is not easy to promote it even if it is a shitcoin or a legit coin. Just like a legit coin they have to invest money to list it on the exchange, it also needs exposure to the crypto world so it means you need a campaign to initiate a hype.

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