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.
Topic: How do people decide to create Cryptocurrencies? - page 3. (Read 465 times)
I can understand why someone decides to create a cryptocurrency. But why do people create new coins when they can easily create a token? When you create a coin, you have much more to worry about - if it's PoW, who will mine it; if it's PoS, who will set up nodes... If you create a token, you don't have to worry about those things because there already is a network that works pretty well (Ethereum for example) and you can focus on your project rather than on the mining or setting up nodes.
Maybe because they have more chances to gather a community that will support the project. They see a bright future creating a new coin than creating a token using smart contracts that are being used by scammers to scam people who run ICO during these past few years. 
I can understand why someone decides to create a cryptocurrency. But why do people create new coins when they can easily create a token? When you create a coin, you have much more to worry about - if it's PoW, who will mine it; if it's PoS, who will set up nodes... If you create a token, you don't have to worry about those things because there already is a network that works pretty well (Ethereum for example) and you can focus on your project rather than on the mining or setting up nodes.
What spurs up most people is the greed to make their own riches out of the ponzy scam crypto projects that they launch into this space. When it comes to marketing there are equally marketing and promotional platforms that equally don't care about their reputation but the money they make hence launch any scam project into the space. The only cryptocurrency to ever invest in is Bitcoin.
I generally support your point of view however it's important to be reasonably critical of where Bitcoin is heading right now. I agree that at the start this was the only true crypto, but you have to DYOR and understand that it is now governed by a team of developers that don't really do much to make it more rich in usability. Maybe that's for the better, which is arguably true. But don't you think that at least Ethereum is worth something just because of smart contracts? Sure, the numerous erc20 shitcoins issued on Ethereum network are worth nothing, except, maybe, for things like BAT. But Ethereum was a game changer in some way. Still is. What do you think about it? 
What spurs up most people is the greed to make their own riches out of the ponzy scam crypto projects that they launch into this space. When it comes to marketing there are equally marketing and promotional platforms that equally don't care about their reputation but the money they make hence launch any scam project into the space. The only cryptocurrency to ever invest in is Bitcoin.
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.
Very easy.
You just can go to fiverr and hire someone to create a token or crypto for you, https://www.fiverr.com/gigs/cryptocurrency.
So you can just one day think of creating your own because you think if can offer a real life use case. However, as far as logistics, they use this forum, by having bounty campaigns and then hire someone like influencer to spread the word around the crypto sphere. But the question, is the product really offer something unique, or will it be just to scam investors?
I guess many of those who decided to create a new coin dream to achieve the same success as Bitcoin or even bigger. Profit is definetely the biggest motive but there is no guarantee that new coin will be successful so there is always risk of failure.
Look.just how many ICO's have failed so think twice before you decide to go to adventure of creating a new crypto.
Look.just how many ICO's have failed so think twice before you decide to go to adventure of creating a new crypto.
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 not a big task really! If you are good in coding, you can do it easily! Or you can hire a programmer to do it for you for just few hundred bucks! You can hire a website designer to create a nice looking website for you for another hundred bucks!
However, marketing that crypto and making it useful to the people is the hardest part of the entire process! That's why we see thousands of projects but 99% of them has no/little value!
Remember, people don't really want to use two different cryptos for doing two different things! So don't just create a cryptocurrency just for the sake of creating one! Do it only if you have a feasible business reasons around it!
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 because of an interesting moment a few years ago they arrived making crypto currencies and launching fake ICOs so that a lot of coins became worthless and even abandoned, if you want to make a new cryptocurrency you need to promote it by hiring bounty hunters, usually it's often done but unfortunately at the moment it doesn't look attractive even a lot of bounty hunters who leave because it doesn't produce from their work 
These cryptos first emerged as an alternative to some of Bitcoin problems then became an instrument to get more bitcoins and finally became designed to make their designers richer.
So in short, whenever new crypto was created without a technical successor supported or urgently needed, it is to make a category of people rich and if you pay money for that currency you contribute to enriching them.
So in short, whenever new crypto was created without a technical successor supported or urgently needed, it is to make a category of people rich and if you pay money for that currency you contribute to enriching them.
They don't just create coins when thry want to. They also have to cosider things like if they're capable to handle it and maybe if they saw something lacking with other coins and they want to innovate it. Or maybe they just see it as a profitable business... It depends actually on the creator but of course in order for it to success, they have to hire people who will promote their coins in different social media platforms just like what most are doing. It ain't easy for new coins since there's already hundreds and thousands of coins out there in the market so it's hard to compete. But with proper strategies and promotions, the coin can excel.
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.
At least before you create cryptocurrency think carefully about the goals and benefits for what. and think of every development that you will do in the future. You must have a plan ahead that has not been done by the coin developer . for that roadmap and other plans must be well scheduled. because crypto was created not only because it follows technology. Sometimes if the purpose is clear and has many benefits not a lot of partners will certainly support and that means it will facilitate the promotion.
Just because of Bitcoin that being successful and now is on the mainstream, they create their own base on the usage on it that we did not found in Bitcoin. And because of gaining interest towards the digital ecosystem and make their own cryptocurrency. They can make various profits on it those who had invested and the collaboration in making partnership on other businesses.
Through the Initial Coin offerings (ICOs) or maybe Initial Exchange Offering(IEO) companies are offering their digital tokens for sale and raising funds to their project. In short, there's a big money awaiting in making our own cryptocurrency.
Through the Initial Coin offerings (ICOs) or maybe Initial Exchange Offering(IEO) companies are offering their digital tokens for sale and raising funds to their project. In short, there's a big money awaiting in making our own cryptocurrency.
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.
Truth be told, what you want to know might not have even popped up in the minds of many crypto creators. I mean, asking the necessary questions such as "what are the necessary logistics in creating a new coin" or "how should they promote their new coin to the public or to a certain group of people to facilitate its usage" are great and brilliant questions that are probably not present in the minds of the developers when thousands of shitcoins were created.
Token creation is very easy. Copying other project's designs, codes, documents, and so forth makes the entire project easier. Promoting the project to this forum, Twitter, Facebook, Telegram, and so on is totally free. These are just the recipes of many new tokens.
People decide to create cryptocurrencies cause of curiosity I think. They tend to have their own made coin because they see the flow of being part of this community, they are exposed to what is happening in this kind of field. I hope the interest in creating a new cryptocurrency is not just to create but to have a big purpose in developing and improvising technologies with the connection of blockchain, smart contract and other programs we are currently using. A cryptocurrency which doesn't have a use case will be a part if this so-called shitcoins. Before promoting a coin make sure, it is well polish and working...
many crypto circulating, almost every day new crypto appears, even in coin marketcap there are thousands of cryptos registered, they used to promote crypto in various ways, through campaigns, bounty, airdrop, ico
Just a few search of how to make one will show you thousands of results. Even if you don't know how to create as long as you have the capital to pay for the developer, you can have your own.
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.
There's no requirement on making one, everyone can do it. Promotion is everywhere, they do bounties, paid ads on different known crypto related websites. 
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
most crapcoins are not actualy solving a real world problem but just made as a proof of concept to show how something can be done
for instance there are crapcoins that show how mining can be done via hard drive size proofs. yet the currency itself after the mining concept cant be usd to buy a doughnut because no merchants use it in exchange for their doughnuts
for instance there are crapcoins that show how 'medical records' can be logged and made immutable to be a proof of concept that medical records can be made secure. however no national/local medical infrastructure uses it themselves and wont for the simple fact that the creators of that blockchain never even bothered to get it implemented within the medical infrastructure
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.
Well the first ever crypto-currency was made out of necessity, where people required an anonymous and decentralized payment option that protected their ID from the government and other people.The other crypto-currencies were like this as well, with a lot of other coins like stablecoins, eth, etc all be created out of necessity.
Then came the shitcoins, the shitty BTC forks no one wanted, the shit-icos that no one needed, and all the other exchanges with fake volume and coins that will never g anywhere
Making and establishing a company that have a product of a cryptocurrency is quite hard. Competition in cryptocurrency world now is really tough thinking there are thousands of active coins out there.
You can visit this website for guide (https://hackernoon.com/how-to-create-your-own-cryptocurrency-tips-to-get-started-947ba92f79f9)
You can visit this website for guide (https://hackernoon.com/how-to-create-your-own-cryptocurrency-tips-to-get-started-947ba92f79f9)
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