Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
People can easily create new coins and they do none is stoping them from doing so, but the thing is is how to make it popular so its price goes up, take bitcoin for exemple when it first came out it was a new idea that is why it started becoming more and more popualr and so its price got higher, and all the other coins that came after bitcoin didn't have the same success why, because they don't bring anything new, but right now with the trnasaction time and the miner fees for bitcoin going high, new coins are coming up and saying we can do what bitcoin can't and that is providing a fast transaction time wih less fees and those coins are starting to get the attention of many users and investors.
Topic: question on long term prices (Read 550 times)
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
Because that coin would not be the same and for most coins the price is completely irrelevant for their actual use case. Take bitcoin for example, if it is actually adopted as a currency worldwide (which is the end goal) the value of it does not really matter so much because weather you pay 0.1 BTC or 0.000001 BTC for a banana it is all relative to how many BTC are in the world in total. I'm not sure that makes sense but it makes sense in my mind.
First and foremost, it is not the coin or the dev team who decides whether a coin is worthy of its value or not. It is actually the people, it is us. We are the ones who gives value to these coins and without us, it will cease to exist. Always remember, the main reason for ICO's is to gather potential investors that will support and back up the coins that had been developed. Even if a coin that is just like what you have said is created, as long as nobody is interested on using or choosing it, it doesn't matter. In the end, it will just turn out as one of those shitcoins, forgotten in history. It needs not to be identical, it needs to be better and even greater than the one before it so that investors and people chooses it rather than the old one.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
People can easily create new coins and they do none is stoping them from doing so, but the thing is is how to make it popular so its price goes up, take bitcoin for exemple when it first came out it was a new idea that is why it started becoming more and more popualr and so its price got higher, and all the other coins that came after bitcoin didn't have the same success why, because they don't bring anything new, but right now with the trnasaction time and the miner fees for bitcoin going high, new coins are coming up and saying we can do what bitcoin can't and that is providing a fast transaction time wih less fees and those coins are starting to get the attention of many users and investors. 
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
Nobody, really.
But it's not enough just to clone the coin. You have to convince people to switch to your new coin or at least use it: miners, exchanges, traders.
If there's no gain behind it, nobody will follow you.
There are many Bitcoin clones (and I mean 1000% clones, same algorithm, same everything), then there are lightly changed coins (Litecoin, Dogecoin and many others, changed from algorithm to emission rules). Some have no success at all, some have moderate or even big success.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
You are totally misunderstood here. Market forces determine the prices of any coin. But sometimes shit coins also get pumped due to pump and dump groups. You can copy any coin and forge into your own how many ever times unless and until someone patents which is something that is not going to happen. High prices for any coin is only because of the achievements of the developer team,the specialty and uniqueness of a coin. We saw ripple finally going up after years and years worth of patience. 
Think like nutella, any company can make their chocolates similiar to it but it is still the number one with high price, so what matters is the quality of coin, its services and the trust that gives to the investors.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
Nobody, really.
But it's not enough just to clone the coin. You have to convince people to switch to your new coin or at least use it: miners, exchanges, traders.
It is good if you hold a coin for a long term price becuase your waiting to the voin price go to moon is so worth it, all you need is to have patient. And self comtrol if you want a big incone, becuase long term price will transform you to HIULK so patient is important.
We know that bitcoin holding will be finally benefitable for all the bitcoin investors. So here you bumped this thread with out any reasons. That is what you have done bro. Please tell me when there is many active thread for same query. I am really confuse that why you have used this thread.
None of the moderators will accept these the unwanted bumps in the chart bro.
Next time you please avoid these kind of move and dead thread bumps. I hope you will take my point.
I think it's a matter of how people support those coins we have in the market yes you're right how come a coin will be much appreciated were in fact you can have your own coin but try to figure out this there's a lot of ICO who's value was so high at first but after few months they just gone in the circulation it's because people has already established trust to some crypto currencies that's why even there's lots of new coin bitcoina nd other alts remains much appreciated
It is good if you hold a coin for a long term price becuase your waiting to the voin price go to moon is so worth it, all you need is to have patient. And self comtrol if you want a big incone, becuase long term price will transform you to HIULK so patient is important.
I think it is possible. When many people join it possible that the price of coin is high. So we must know that coin which people love them 
No doubt it is possible, even a blind man can see it, but the problem is that by that you wont be able to make the maximum out of it. There are several best practices which have been discussed on these forums and they can be implemented by a little bit of commitment to yourself. Rest if you are the investor, then it is your money involved and you are the best judge to make decisions about whether to take your profit to maximum or stay in normal trading profit. 
I think it is possible. When many people join it possible that the price of coin is high. So we must know that coin which people love them
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
As far as bitcoin is concerned,every one is aware that bitcoin core is the original coin while all the other are just forked coins.So there is no chance of getting scammed even if they have the identical name as bitcoin.But when concerned about altcoins,there are many scam projects which have the same identical name and those coins with the same name gets launched even at same time with slight interval.out of these coins,one would be unique and performing well delivering new features while the other would be just a shitcoin just having the same name.Most people get scammed by this way.So,we should be aware before buying such coins and we should research the web and see reviews about that coin so that scam coin could be traced and avoided.
Actually we cannot stop someone from creating their own coin or cloning a coin. Most are there for a profit to attract investors in their coin. In this regard, a developer must see to it they are creating a worth token, good project to develop that later on users will into invest.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
Nothing can really stop such coin from becoming famous and overcome other similar coins. Once people get to know that the coin has good creative idea, it gets unstoppable. Such coins usually never fail in market and can retain high values than other altcoins.However there are many coins seen which fail later when they list on exchanges because of developers low support and other things
And why would you like to have a coin that is never moving? It is useless, most people are just buying altcoins because of the volatility that it has, just take a look over the altcoins during this week, most of them have increased a lot during the last few days.
It would be ridiculous to have a non-volatile altcoin.
It would be ridiculous to have a non-volatile altcoin.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
It is not enough to just clone a particular currency and drop it in the market so that it can take some value, since this has already been tried and we have many currencies in the market that are mere copies of currencies known as btc and eth but see, none has achieved success all they are dead. For a currency to earn value first it needs to win its users with serious and truthful proposals, only after that it starts to gain its market value.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
There is nothing in this world that can stop someone from creating their own coins, but there are some important things to note. First of all, the new coin wont be as famous as the old one, and the reason for that is the community behind the old coin. The old coin will still be valuable for its community and users. And, they wont migrate their investments to a new coin with no community and just a few users.Think about it for a second, if you even created your own clone of a particular coin that is worth 100$ or even 1000$. And, your coin is exactly same as the old one, and even with some amazing new features. How will you be able to influence the users of that old coin to use your coin instead of the one they are already using? And how will you add your coin to the exchanges if no one has invested in your coin? You coin will literally be worthless without some good investors. It will take you long to make your coin successful.
Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
What makes bitcoin or other cryptocurrency value rises is all due to the investors who have hope in them and continue to buy. So for anyone to create a coin and want to make it's value rises, They need to convince potential investors about the advantages his/her coin s compared to others and once the investors see that it can be profitable, they can then invest in it. Jump to: