Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
I think you are completely new to this forum and the world of Cryptocurrencies. Actually the whole journey started with just Bitcoin and rest of all the Cryptocurrencies came after in the process. But how do people decide to create it is an altogether separate question. Actually most of the people in Crypto world had some projects in mind. These projects used blockchain to solve some need of the people. Atleast this was how they were potrayed on paper. Now after they were brought to limelight a lot of funding was needed for these proejcts to became a reality. This was when the idea of crowdfunding came into the minds of people. What they did was collected money from people and in return gave them a coin just like a share in the company. However, this did not technically made you a part owner of the company due to no legality present but you still could sell these coins in market once they are listed on exchange. And these coins became Cryptocurrencies. Until some time people were creating own blockchain and own coins but then came the phase of Ether ERC-20 Tokens. These were created using smart contracts on Ethererum blockchain itself and were pretty effective and secure. But all this ended up in crowdfunding teams not working on the projects anymore most of them just ran away with the money and left behind plethora of Cryptocurrencies out of which mostly top 200 are actively used and traded. 
Topic: How do people decide to create Cryptocurrencies? (Read 465 times)
It won't be a hard process for those that just want to create it for their personal gain or those that wants to scam the community out of it, especially tokens the ethereum blockchain.
For the serious ones that want real use case for the coin, they will have to spend a lot of funds for Conferences, marketing, going through legal process and all of that.
I remember back in May when deflationary tokens were rolling out, those coins were just created with hype, then they dump on the holders. They didn't spend much because they copy other deflationary token codes to make theirs.
For the serious ones that want real use case for the coin, they will have to spend a lot of funds for Conferences, marketing, going through legal process and all of that.
I remember back in May when deflationary tokens were rolling out, those coins were just created with hype, then they dump on the holders. They didn't spend much because they copy other deflationary token codes to make theirs.
Find a need and fill it. Well, that is what it should be. The honest truth is most coins devs want to exploit and rip people off creating a coin with absolutely no use or value.
It should be about finding a need and filling it then figuring out how you want the coin to be distributed and if you will have a premine and if so how will you justify it. A good plan with a clear future.
Something people can see happening and something that makes sense. The promotions they do here on the forum with bounty. This is the cheapest way by far. Other than that they can advertise in crypto-related forums and social media. The budget and what needs to be bought to keep the coin alive and how you will attract people to it. This is just some of the very many things to think about when making a coin.
That should be the process all coins should have to go through, a coin should not be created unless there is a very specific reason for it and there is a hole in the market that they can fill, but that is not what we see, most of the time we see many coins being created for the most ridiculous reasons and this is what is causing many investors to lose faith in the altcoin market because they see that there are a bunch of coins that do not really have any justification to exist. It should be about finding a need and filling it then figuring out how you want the coin to be distributed and if you will have a premine and if so how will you justify it. A good plan with a clear future.
Something people can see happening and something that makes sense. The promotions they do here on the forum with bounty. This is the cheapest way by far. Other than that they can advertise in crypto-related forums and social media. The budget and what needs to be bought to keep the coin alive and how you will attract people to it. This is just some of the very many things to think about when making a coin.
not just hundred , thousand but they are millions and billions . most are still up while others did already died and some are not yet listed or often called sh*tcoins . the process of creating a token was easy but i think the process of creating a quality altcoin is hard . people decide to create one because they have a vision about creating a coin that can solve a certain problem . promoting the coin will be dependent on your budget . if you want your coin to get popular then you are going to prepare alot of cash
Whenever one feels the need to create cryptocurrency, they create it 
tokens are easy to create, making a coin needs quite more understanding, regarding promotion, many publish ads, do airdrops, bounties, etc.
tokens are easy to create, making a coin needs quite more understanding, regarding promotion, many publish ads, do airdrops, bounties, etc. I think it is not the need to create cryptocurrency but rather the desire to make money out of thin air. Many cryptocurrency projects happen to be like that. They just copy the hot project and make a little adjustment then boom, they will create another cryptocurrency and launch a crowdfunding strategy.
I think its really a tough work to do. There are so many competitors and I think it really needs focus on it. Well, deciding to create crypto is something fullfilling as well. If you have all the resources, manpower, capabilities, knowledge and financially able then its might possible. I think its like creating your own product or company. You need to devote your time and effort on it.
Because they want a fair exchange of things and get rid of the taxation system, so they created BTC.
Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
I dint think that you will be able to able to create cryptocurrency if you don’t have blockchain knowledge, for you to be able to develop a cryptocurrency personally, you must definitely know about codlings to do that I think , but that does not mean you still cannot get any project done, because It is not everyone that has a cryptocurrency project that has the technical know-how. What those people usually do is just to hire a Blockchain developer to create the project for them. They have the concept and the idea of the project they actually want to build the blockchain for and I am sure that if you give the idea to a Blockchain developer, they will be able to work it out for you according to what you want, but for you to be fully successful in the project, you have to work with some team that you can also share some ideas with.
Creating Cryptocurrency is a great idea, if you know well and if you are good at coding then you can go ahead. There is more profit in creating crypto but after creating if you are successful then well and good because there are so many companies which has failed.
There are also bounty campaign you can hire it and make the work done through them.
Some people who wants to make their own cryptocurrency is establishing first an ICOs or projects in which they are producing a token and after the project becomes successful they are making exchangers in order to make it an alternative coins and etc. Just like what other people when they are starting bounty campaign, they are finding first a good bounty manager and they will use escrow in order to find a good bounty manager that will manage for those bounty hunters that will support and promote their projects, next one is they will find investors on which people will invest to the projects and when the projects become successful then it will be a new cryptocurrency coin. There are also bounty campaign you can hire it and make the work done through them.
Creating Cryptocurrency is a great idea, if you know well and if you are good at coding then you can go ahead. There is more profit in creating crypto but after creating if you are successful then well and good because there are so many companies which has failed.
There are also bounty campaign you can hire it and make the work done through them.
There are also bounty campaign you can hire it and make the work done through them.
Creating a cryptocurrency is easy, because there are service providers such as ETH and Counterparty.
But what's difficult is to create a dynamic concept that can make the crypto grow bigger and last all the time.
The crypto competition is very big now, you really need to have good innovation.
I think there is no specific time when to make crypto, it can be done anytime.
It is easy to create a token and sell it in your project, that is why many people do their own token so shitcoins are everywhere. People thinks that when they do their own currency they can get more money because they are the ones who develops it even though they dont have a solid plan on everything they are doing. But what's difficult is to create a dynamic concept that can make the crypto grow bigger and last all the time.
The crypto competition is very big now, you really need to have good innovation.
I think there is no specific time when to make crypto, it can be done anytime.
I think it goes the other way around. If there is numerous number of paper money and cryptocurrency volume, it's the market price will not get bigger, that is why Bitcoin is on the top of the rank in having a huger market price. And with your conjecture about more people distrust the fiats because of coins, actually, in my opinion, its not. If there's more coins, more people will have a hard time choosing which coin where they can invest into. And it doesn't affect their trust to their fiats based from the number of coins created. It would be based on how good a coin or crypto is no matter how many it is, to replace the fiats in terms of primary currency.
Price is not a concern to cryptocurrency as any of them will fit the bill to be a medium of wealth transfer, but we can’t ignore the possibilities that the more altcoins around also contribute to higher bitcoin price, whatsay we would have bitcoin price at 1m dollar and also 3729492749 alt coins at the same time while the fiat money can not get you a decent BigMac with your humble top dollar offer.
Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
First you should know that it's not all the coins that you see in the market that will end up being successful, some of them will turn out to be a failure and that's why you see a lot of dead coins that have been abandoned by the devs. There are many dead projects than the ones that are still up and running and lots of coins keeps dying off everyday.Some people that creates coins have no purpose for it, they just create a coin for a fake a purpose and before you know it they will abandon everything to fail. Some are also scammers that will formulate a plan to draw investors and then make away with their money. Every coin is created for a project, and t is either legit or fake, and among the legit ones, some still don't make it due to some problems, like lack of funds.
Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
to make tokens or coins is a bit difficult because you have to prepare a little capital and have an understanding of the coding and security of crypto fully and you must have good ideas or skills to gain the trust of many people so that later your project is launched is not in vain, but before You also need to know the difference between making coins and making tokens.
some differences:
coin
- Must have your own blockchai and need a lot of time
token
- is built on existing blockchain and does not require much time
People decide to create their own money when the irresponsible bank printing more and more money and people don’t want to hold their shitcoins fiat any longer, the more coins around also proportional to the more people distrust the fiat currency.
I think it goes the other way around. If there is numerous number of paper money and cryptocurrency volume, it's the market price will not get bigger, that is why Bitcoin is on the top of the rank in having a huger market price. And with your conjecture about more people distrust the fiats because of coins, actually, in my opinion, its not. If there's more coins, more people will have a hard time choosing which coin where they can invest into. And it doesn't affect their trust to their fiats based from the number of coins created. It would be based on how good a coin or crypto is no matter how many it is, to replace the fiats in terms of primary currency.
Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
Creating a cryptocurrency is easy, because there are service providers such as ETH and Counterparty. But what's difficult is to create a dynamic concept that can make the crypto grow bigger and last all the time.
The crypto competition is very big now, you really need to have good innovation.
I think there is no specific time when to make crypto, it can be done anytime.
People decide to create their own money when the irresponsible bank printing more and more money and people don’t want to hold their shitcoins fiat any longer, the more coins around also proportional to the more people distrust the fiat currency.
Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
Creating a cryptocurrency is easy, because there are service providers such as ETH and Counterparty. But what's difficult is to create a dynamic concept that can make the crypto grow bigger and last all the time.
The crypto competition is very big now, you really need to have good innovation.
I think there is no specific time when to make crypto, it can be done anytime.
Whenever one feels the need to create cryptocurrency, they create it tokens are easy to create, making a coin needs quite more understanding, regarding promotion, many publish ads, do airdrops, bounties, etc.
They just wanted to take the ride and hope that they will going to get same fate with those successful developers who made a lots of money out from this business. The influence of previous coin/projects that made some good deals around this market bring desires to new developers to create tokens are easy to create, making a coin needs quite more understanding, regarding promotion, many publish ads, do airdrops, bounties, etc. their own project, some will create genuine ideas but most will be a copycat from the old projects that already existing.
The decision to create cryptocurrencies is usually done base on the challenges or gaps seen in the crypto space and the crypto ecosystem. New crypto coins are either solving the disadvantage of other already existing crypto coins or introducing a different solution to gaps seen in the crypto ecosystem. Every cryptocurrencies in the crypto space has its own intended purpose and the solution it is introducing into the crypto ecosystem. To create a crypto coin, you should have a particular problem the coin is likely to address in the crypto space.
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