tokens are easy to create, making a coin needs quite more understanding, regarding promotion, many publish ads, do airdrops, bounties, etc. 
Topic: How do people decide to create Cryptocurrencies? - page 2. (Read 465 times)
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. 
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.
You must know your purpose first, and as what you said thousands of cryptocurrency are already out in the market so its a big challenge to create a new and unique crypto. I don’t have no idea about the process but you must talked to your team about your plan and start creating strategies. There are so many ways to market your coin, bounties, social sites and many more so this is not a big problem anymore all you have to do is to spend money on this.
the purpose of the idea is based on the ability to stay ahead and have strong funds, you are ready at any time to make crypto, which certainly uses a team that is experienced in their field, do not just try to try to enter the market because of greed alone but make concrete evidence of the usefulness of the project you want to create.
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 they consider many factors before creating new cryptocurrency that will spread around the world. They promote their coins just by using other apps in our mobile and computers. They advertise it and they allow people to explore it.
Its uses and how it will effectively enter the crypto world are also their mission for it to grow more. Once it partnered to another currency, it will grow as well as the another currency.
The only reason that I can see for them to necessarily create new Altcoins, is making some innovation of the old project by improving it a lot. Like for example, XLM is the decentralized version of XRP. and LTC the light version of Bitcoin. if you can see there's also a lot of cryptocurrencies that have their similarities and the others have some unique features that make the other project cannot compete with them. Just look the Binance way for recovering the hack funds of their client, they're the only ones who can do that so far.
The reason for this is they cannot alter the main crypto in the market that is already working fine and good, as a result, forking is needed to create a new crypto for various purposes and development. There are also cryptos that are mainly created for investment purposes, even though it doesn't possess and new capabilities and characteristics, they are launching it to back their project with investment from people. Most of it comes from the smart contract platform by Ethereum.
If they saw an opportunity they will start a business but they have a lot to consider first. You need to create a community as well for you to have instant crowd that will support you. A unique idea will also be a great help for you and will eager you to do business in cryptocurrency. If you have smart agenda then that's the thing why people create crypto. It's an opportunity for us since it's a new technology that can grow more.
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.
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.
As for me, most crypto creators want to follow the footsteps of Bitcoin. However, only a few among thousands of coins survive because of different reasons. Its something to be sustained financially and that's one of the common reason why most new altcoins fail. It should also be functional so investors would prefer to adopt it just like Bitcoin and Ethereum. Creators and developers must set a firm roadmap for them to track their goals.
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.
The creation of cryptocurrencies has been based on the gaps seen in the financial world and the crypto space or based on the flaws of other existing crypto coins. New coins are basically created as an improved version of already existing cryptocurrencies. But nowadays, developers just create crypto coins without having any particular aim in the crypto space. These coins are mostly described as shit coins. If you are thinking of creating a new crypto coin, it should solve a particular problem in the crypto space and the financial ecosystem.
Thanks to ethereum blockchain and erc20 token, everyone is now free to create his dapp and launch tokens. You are free to launch your project that doesn't necessarily means it will be a success, there are so many projects which you have to compete.
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.
The most important aspect of a coin is why it is being created, there are thousands of coins out there but very few of them have any significant function so for the most part they are useless, the rest is relatively easy, promoting a coin is done through bounty campaigns in this forum or you could let people discover your project, if it is any good it will get popular if you give it enough time, but most coins do this backwards they use all their resources in promoting their project and no resources in trying to create something that could last and be of benefit to the community. Creating a new coin/token is pretty free nowadays. Also people have a wide variety of blockchains and platforms to create their token. The hard part is creating a viable sustainable ecosystem for the token value.
I agree with you, being able to establish utility for your assets and maintain the token's ecosystem is very crucial, this might drive new potential investors to invest in your project and increase the demand of your token
I think that cryptocurrencies are created to fulfil different intentions, it might be that probably they want to experiment with blockchain technology and how it can benefit their businesses and organisations since it is relatively new. However, I think the very first thing to consider when creating your own currency is to think about its utility, what will the people use the currency for or there might be reduced demand
Creating a new coin/token is pretty free nowadays. Also people have a wide variety of blockchains and platforms to create their token. The hard part is creating a viable sustainable ecosystem for the token value.
Making and establishing a company that have a product of a cryptocurrency is quite hard.
making and establishiing a crypto is easy.
sustaining a need for it is hard
Making cryptocurrency is real easy, actually we can made any cryptocurrency right now but what really cryptocunrrency should possess is the purpose. When are we going to use it, where are are going to use it. Sustaining the use of cryptocurrency makes it hard to be in time for usage, just look how many dormant coins we have in the market. It says it all man.
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 some people or team tend to create new coins to provide a financial aid for their their projects. I learned that from participating in ICOs back in the day. They promote their coins through this forum, they hire bounty hunters to desseminate the news and the existence of their project. They also use some social media platform like twitter and Facebook for promoting.
It all started like this when bitcoin was invented and boom in early years other scientist are developed the first altcoins and others followed at first it was good until when the epic bull run came more and more altcoin/token thanks to ethereum many scammers are now can create their token to it.
Some actually have a good idea which make sense but some are just there for money.
There were projects that were created that actually doesn't need blockchain but they did create one since there is profit to collect from it and that is just one reason why a team decide to create a coin. The Announcement threads they make contains how astonishing the amount of money flows in the industry like for example music industry collects about Millions of USD in a month to which they intend to grab even just 1/4 of it. Promoting the project on the social media sites where the wanna be investors and musicians are will help them get the money needed for the project.
There were projects that were created that actually doesn't need blockchain but they did create one since there is profit to collect from it and that is just one reason why a team decide to create a coin. The Announcement threads they make contains how astonishing the amount of money flows in the industry like for example music industry collects about Millions of USD in a month to which they intend to grab even just 1/4 of it. Promoting the project on the social media sites where the wanna be investors and musicians are will help them get the money needed for the project.
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'm guessing in order to start you must have some idea of how to utilize the source code of Blockchain and Bitcoin technology. My guess is that you also have to be able to code & program a little. If you want to make a clone project, you just copy all of the ingredients in the recipe and go, but if you want to really innovate, you modify an existing Blockchain project and coin by making several new useful additions. If you really want to support the movement, you create an entirely new Blockchain from scratch or one inspired from another, then build a foundation and support community from the ground up.
Just a guess
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.
Most company that creates their own cryptocurrency are just riding the trend. They knew that this kind of technology is hot to the masses and they wanted to take advantage of it to cater client and customers. Creating a token in a platform isn't that expensive. They just need to spend much on marketing and advertising their new coin in order for the public to be aware of it.
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