Topic: Is it normal to build a crypto currency without ICO - page 4. (Read 569 times)
You guys wouldn't be the only ones. Polymath did a private sale and then skipped the ICO for an airdrop. Gained them lots of exposure. https://polymath.network/
You guys wouldn't be the only ones. Polymath did a private sale and then skipped the ICO for an airdrop. Gained them lots of exposure. https://polymath.network/
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Hey, so this is purely my own opinion, everyone else please don't get mad about it (a lot of people around here are investing in ICOs these days)!
So.. to answer your question shortly, yes. It's very normal, and in my opinion, it is the best thing you can do. Why?
I have all respect for LEGIT and LEGAL ICOs, but it honestly sounds like the second version of Pre-Mined cryptocurrencies. I do not even consider ICOs cryptocurrencies, because... well, most of them are non-minable, and as soon as one entity sells something to you, to me it looks like a bank money printing operation. I am not very sure how long these ICOs will remain around, considering the fact that many of them are illegally earning a LOT of money.
Pre-mined coins were currencies released with a .. say 50% total supply already mined by the developer before releasing it to the public. They were usually hiding this so that we could buy their coin, get the price up and then they would earn a fortune off it. This worked until people found out how they scammed us, but now we have ICOs. ICOs are pre-mined tokens that are then sold to the public. It's basically the pre-mine scam disguised.
Why would ICOs NOT survive? First of all, ask yourself how will we ever get to use SO MANY cryptocurrencies. We have tokens for restaurants, tokens for logistics, tokens for shopping, tokens for exchanges, tokens for... BANANAS (I'm not sure if that one was real or just a troll, but still), can you imagine a scenario in which you'd have to pay 1FOOD (FoodCoin) to buy a burger, one hour later a package will arrive and you'd have to pay 1UPS (UPSCoin) and so on? I can't. Only one currency will be used the most, like Bitcoin was until a few years ago. Then we have the illegal fundings, devs earn millions overnight. I can create my own ICO and sell it, take the money and go away.
I would advise you to let it free to the public. To let the people using your coin mine it, and do whatever they want. Don't follow this nonsense stuff. Again, just my personal opinion.
Yes it is possible as long as you're building a project that is unique or innovative one that can be helpful to the crypto world but you should have enough money to privately fund your company. And if you have good developers, designers and marketing manager on board that's not a problem. You can give away your tokens in the form of airdrops so that it can be circulated on the exchanger and also offer bounties.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
It IS normal to start up an altcoin without ICO. There were plenty of examples for you to see how many coins become a success, without ICO of course.
ICO support the development of coins.ICO is very good for fund raising,marketing,advertising and way of community engagement at the same time.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
I don't remember hearing bitcoin having an ICO so it is possible. Though remember in bitcoin's case there were no cryptos back then. If you have the funds then you might manage to distribute it for free but it's preferable that you have investors so you are not taking all the risk by yourself. Aside from having a fund, people tend to value what they spent resource on so free is not always a good option.
What project would this token be related to?
What project would this token be related to?
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
There is no such term as normal in launching a new coin. It's totally your decision what kind of building process of a coin to choose and all of them would be normal.If you have enough funds for your coin development, for adding it on exchanges, for marketing, advertising and so on (probably significant amounts), if your coin have significant advantages over competitors and have a growing community already, you probably don't need any ICO.
But if you have only idea or some basic functionality, ICO can become a great tool to get a huge leap on the start of your coin's life. ICO is a great combination of funds rasing, marketing, advertising and a way of community engaging at the same time.
The more interesting is that even for the already popular coins ICO can give all the same profits as for the new ones but in a times higher values and in a very short period of time. What is have to be done for years to develop a coin in a usual way, ICO can help to do in a few month. If summarize I'd say that ICO is not a "must" but rather "definitely should consider about" feature for building a new coin.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Emmm anyway at first i will asking you is the capital you should prepare to build this new altcoin. Are you have any resources and funding? . If you don't wanna start an ico how could you promote your coin? Are you sure could convince people with your alt?
Of course , it is possible . But why you considering this option ? ICO is a good opportunity to collect funds for a further development and spead tokens in masses , which is needed to popularize your project and make it more valuable.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
of course you can, however how do you allocate the coins? through airdrop? the question, is there something backing up your coin? To run coins into circulation, you need to sell them or give away. What other options can there be? If there is no ICO, then airdrop
How to preform a good airdrop ? Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Most likely the answer is NO because how will you convince the investors and the participants to join your new coin investment if you will not use the ICO format? You can't just tell them to come here and invest to your new Egyptian coin without a convincing programs, whitepaper and platform in which all of these are part of ICO to raise funds to support the new coin but if you and your friends are all millionaires then maybe you can start your own coin because you have enough money to raise funds at your disposal.
To run coins into circulation, you need to sell them or give away. What other options can there be? If there is no ICO, then airdrop. For me, a good airdrop has several waves. People will advertise the project for a long time, it will be known to many.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Are you developing a blockchain or just a token under eth blockchain?
I believe there is no one funding bitcoin when satoshi is developing it. But he can code and he is very good at it. So if you can do it as well, I think it will be fine.
Most run ICOs because they want to fund a project and they use token to give as shares to the company.
This is completely possible. But it will not make the money grow as well as very few people know it. So every dollar is needed by ICOs, it helps them develop healthy money, and has the potential for long-term future.
You can airdrop coins to people and use some of them for bounty campaigns as well, if you don't need money I think it can be done without ico.
If not, how are you going to allocate tokens?
Average allocation to community members? Or allocate it to an airdrop?
Average allocation to community members? Or allocate it to an airdrop?
It‘s not the common situation, as most projects make ICOs to get money fast, for development, for getting rich, for whatever reasons. You have to consider that you then have to pay the development at least partly out of your own pockets until your coins will have a value. But there are some projects which sre working with airdrops. One of the most famous is XEM (NEM), another one would be DeepOnion.
Without ICO, how you're gonna keep your token or project running if you will base on your own fundings or capital. It's not gonna last long if you just simply sold your token like that. You really need crowdfunding, because it is where the investors will also know your intention inside the cryptocurrency. If you crowdfund your ICO, then it also has the potential to spread good words from other people about the project you proposed. Let's accept that people don't trust ICOs that much because there is always a risk even if the project successfully sold the tokens and they got a great sales. You should do an ICO when you want to build a crypto currency but you need to work hard on it so people will trust you with all their money.
From what i can see, seems like an ICO is a great way to get investment as you offer a "piece" of your coin to all who are interested in buying in, if the price goes up on the exchange then everyone's a winner.
That said there are still others who offer coins/tokens out to the community
Either or doing both are good options IMO
That said there are still others who offer coins/tokens out to the community
Either or doing both are good options IMO
Its normal , many cryptocurrencies not launch a ICO , but they launch a airdrop like DeepOnion , PosToken (Correct me if i wrong) . But you need some backup fund or solid community. Good luck then and sorry for my bad english.
This is a normal phenomenon.
There are a lot of tokens that didn't start at the beginning of the ICO, because there might be a legal problem, so they gei the tokens to the community, and you can find a lot of examples of airdrops in Bitcointalk forum.
There are a lot of tokens that didn't start at the beginning of the ICO, because there might be a legal problem, so they gei the tokens to the community, and you can find a lot of examples of airdrops in Bitcointalk forum.
Yes, it is possible to do so. If you won't organize an ico then you will airdrop the token to the community mind you you will have to develop it urself.
An ICO supports the development of your coin. If you have enough to support your developers (salaries, rent, coffee, ...etc.) then you have a choice of ICO and Airdrop. Keep in mind that your coin must have new features that attract investors. ICOs usually need to provide enough evidence that you will be standing by your coin. Get to speak with some investors to support your coin and when you announce your coin, make sure the mention the investors names because this will attract more smaller investors.
If you don't need investors support, you can go with an AirDrop, but your coin must be highly lucrative (future development, features and distinguished characteristics) to attract the public into joining your airdrop. If you want to create a coin for the fun of it, do it. But, keep in mind that there are many meme coins that are floating dead.
If you don't need investors support, you can go with an AirDrop, but your coin must be highly lucrative (future development, features and distinguished characteristics) to attract the public into joining your airdrop. If you want to create a coin for the fun of it, do it. But, keep in mind that there are many meme coins that are floating dead.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Sure,but how you gonna sell your tokens without ICO,no one will buy it when you directly listed it into exchanges.So you need to do ICO if you want to bring investors to your coins or your coins will become worthless without any demand.
If not, how are you going to allocate tokens?
Average allocation to community members? Or allocate it to an airdrop?
Average allocation to community members? Or allocate it to an airdrop?
As i see all the reply are the same. That's means that all of you talking right.
I have a capital for the dev team and the marketing team etc.. but i want to know how to preform a good air drop
actually an ICO is not required unless you need fund for the project
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
No problem, i joined many successful coin and tokens project which not initiate an ICO. They did some airdrop events. Such as Rebellious, BLUE, ELTCOIN, and EQUAL
This is completely possible. But it will not make the money grow as well as very few people know it. So every dollar is needed by ICOs, it helps them develop healthy money, and has the potential for long-term future.
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