Steps to start and grow a new altcoin?

wsaqaf

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Quote from: fortunecrypto on April 29, 2016, 02:37:19 PM

I do not know about ethereum smart contract but on reading about your post that it is not tradeable in public then it's not worth it ,you ask how to start and grow a new altcoin but if it is not tradeable then who will want to adopt and make it mainstream..

I think the main goal of Ethereum-based cryptocurrencies is to not use it for trade but to build smart contracts to carry out reliable actions such as monitor and execute actions automatically. It's still at its infancy though.

robelneo

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Quote

It looks like your take is to not use an already established blockchain and framework and rather start afresh but ensure that it gets enough momentum and hard work. I now get what you mean. There are some positive aspects though to an already existing blockchain with a strong reputation like ethereum, which is mainly security and reach. It is obvious that their brand has reached a level that makes them a strong name and while one cannot have flexibility given the token is in their subdomain, being affiliated to them lures some to just jump into the band wagen and enjoy the ride while it lasts.

Another advantage is the big community of supporters and coders in Solidity, which means easier troubleshooting and flexibility in creating complex smart contracts, something that a new altcoin would not easily have.

But I too agree that one needs to think big and go for the widest possibilities by being innovative and adding a strong and competitive altcoin.

Go to the altcoin section and see who got the most support and what altcoins are supported by the community,they are stand alone altcoins who has their own development team and not part of any altcoin network,because traders and investors want decentralized and stand alone..

klarki

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I understand you correctly, what you decide to run your coin?
But the purpose of pursuing only one, is to get rich quick? Nice coin, usually reveals itself in the long run.
But it must be developed consistent plan of action, such as marketing, strategic planning, and other features not function.

fortunecrypto

legendary

Activity: 2450

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I do not know about ethereum smart contract but on reading about your post that it is not tradeable in public then it's not worth it ,you ask how to start and grow a new altcoin but if it is not tradeable then who will want to adopt and make it mainstream..

wsaqaf

newbie

Activity: 5

Merit: 0

Quote from: robelneo on April 29, 2016, 01:53:53 AM

Quote from: wsaqaf on April 28, 2016, 01:48:26 PM

Quote from: robelneo on April 22, 2016, 12:49:51 PM

Why not for educational purposes why not give your input,you can try https://www.walletbuilders.com/ they also hosted nodes for your coin but you have to learn how to code so you can properly set up your coin the hardest part is marketing your coin..

Appreciate your advice. Looks like there is no shortcut to learning how to code. I have written code before but not in this domain.

I was told that instead of creating a new altcoin, it might be easier and safer to create a token under Ethereum as shown here:
https://blog.ethereum.org/2015/12/03/how-to-build-your-own-cryptocurrency/

But that means it won't be my own blockchain and it can't be publicly tradeable. It will also mean that nodes must use Ethereum wallets, which will take a long time loading the chain to use my tokens.

What is the advantage of using Ethereum instead of starting from scratch?

W

You have laid out the negative aspects of using ethereum I do not know of the positive aspects but investors and traders tend to trust a stand alone coin where it owns everything if you want your coin to get pass all the other coins it should own everything and has no restriction,it will look like a sub domain you are promoting the main domain and you do not own some part of it..

It looks like your take is to not use an already established blockchain and framework and rather start afresh but ensure that it gets enough momentum and hard work. I now get what you mean. There are some positive aspects though to an already existing blockchain with a strong reputation like ethereum, which is mainly security and reach. It is obvious that their brand has reached a level that makes them a strong name and while one cannot have flexibility given the token is in their subdomain, being affiliated to them lures some to just jump into the band wagen and enjoy the ride while it lasts.

Another advantage is the big community of supporters and coders in Solidity, which means easier troubleshooting and flexibility in creating complex smart contracts, something that a new altcoin would not easily have.

But I too agree that one needs to think big and go for the widest possibilities by being innovative and adding a strong and competitive altcoin.

fortunecrypto

legendary

Activity: 2450

Merit: 1047

One of the most important aspects of a new coin is free and fair distribution,the distribution should be to reach as many holders,investors and common people who are into crypto currency,some investors hates premine where the devs can control or who has the full control of the majority of the coin it is very common on POS coins..

HelioHash

full member

Activity: 176

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https://twitter.com/HelioHash

Once you launch your coin, you need to focus on
marketing and making new services for your alt.

And most important, don't try to cheat your community
and stay active, every day.

robelneo

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Quote from: wsaqaf on April 28, 2016, 01:48:26 PM

Quote from: robelneo on April 22, 2016, 12:49:51 PM

Why not for educational purposes why not give your input,you can try https://www.walletbuilders.com/ they also hosted nodes for your coin but you have to learn how to code so you can properly set up your coin the hardest part is marketing your coin..

Appreciate your advice. Looks like there is no shortcut to learning how to code. I have written code before but not in this domain.

I was told that instead of creating a new altcoin, it might be easier and safer to create a token under Ethereum as shown here:
https://blog.ethereum.org/2015/12/03/how-to-build-your-own-cryptocurrency/

But that means it won't be my own blockchain and it can't be publicly tradeable. It will also mean that nodes must use Ethereum wallets, which will take a long time loading the chain to use my tokens.

What is the advantage of using Ethereum instead of starting from scratch?

W

You have laid out the negative aspects of using ethereum I do not know of the positive aspects but investors and traders tend to trust a stand alone coin where it owns everything if you want your coin to get pass all the other coins it should own everything and has no restriction,it will look like a sub domain you are promoting the main domain and you do not own some part of it..

mybitcoin101

sr. member

Activity: 378

Merit: 251

Quote from: cryptoheadd on April 22, 2016, 12:24:45 PM

Quote from: wsaqaf on April 22, 2016, 12:08:52 PM

Dear sirs,

Is there a solid and reliable guide from a to z on what is involved in starting an altcoin from the very beginning. I have done some reading and realized that there are some new services that make things easy like Cryptolife by @Hazard. But it only takes as far as to create the wallet and genesis chain (through premining) but once it is hosted and ready, what are the next steps that help make it tradeable, have its own faucet and be exposed more to the public and be on major monitors and media?

I understand it is a lot to ask for. But this is my first post so do please be kind Grin

Walid

Try Walletbuilders. Grin

Quote from: bitbite111 on April 22, 2016, 12:22:55 PM

Please, we dont need any more shit coins by pimple faced pump and dumpers who cant even code.

I agree.

There all shit coins.

I say bring more to the table.

The Sceptical Chymist

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OMG noob, what the world so desperately needs is another altcoin!! Hope you get the answer you're looking for. [/S]

chaoscoinz

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☆Gaget-Pack☆

INNOVATION, just bring a game changer to the table, what we need is a bitcoin 2.0. An alt coin needs no gimmick, or crowd sale to thrive. The blockchain is revolutionary. It opened the door to the altcoin market. Think big!!!

wsaqaf

newbie

Activity: 5

Merit: 0

Quote from: robelneo on April 22, 2016, 12:49:51 PM

Why not for educational purposes why not give your input,you can try https://www.walletbuilders.com/ they also hosted nodes for your coin but you have to learn how to code so you can properly set up your coin the hardest part is marketing your coin..

Appreciate your advice. Looks like there is no shortcut to learning how to code. I have written code before but not in this domain.

I was told that instead of creating a new altcoin, it might be easier and safer to create a token under Ethereum as shown here:
https://blog.ethereum.org/2015/12/03/how-to-build-your-own-cryptocurrency/

But that means it won't be my own blockchain and it can't be publicly tradeable. It will also mean that nodes must use Ethereum wallets, which will take a long time loading the chain to use my tokens.

What is the advantage of using Ethereum instead of starting from scratch?

W

robelneo

legendary

Activity: 3416

Merit: 1225

Enjoy 500% bonus + 70 FS

Why not for educational purposes why not give your input,you can try https://www.walletbuilders.com/ they also hosted nodes for your coin but you have to learn how to code so you can properly set up your coin the hardest part is marketing your coin..

cryptoheadd

hero member

Activity: 1036

Merit: 501

Quote from: wsaqaf on April 22, 2016, 12:08:52 PM

Dear sirs,

Is there a solid and reliable guide from a to z on what is involved in starting an altcoin from the very beginning. I have done some reading and realized that there are some new services that make things easy like Cryptolife by @Hazard. But it only takes as far as to create the wallet and genesis chain (through premining) but once it is hosted and ready, what are the next steps that help make it tradeable, have its own faucet and be exposed more to the public and be on major monitors and media?

I understand it is a lot to ask for. But this is my first post so do please be kind Grin

Walid

Try Walletbuilders. Grin

Quote from: bitbite111 on April 22, 2016, 12:22:55 PM

Please, we dont need any more shit coins by pimple faced pump and dumpers who cant even code.

I agree.

bitbite111

member

Activity: 70

Merit: 10

Please, we dont need any more shit coins by pimple faced pump and dumpers who cant even code.

wsaqaf

newbie

Activity: 5

Merit: 0

Dear sirs,

Is there a solid and reliable guide from a to z on what is involved in starting an altcoin from the very beginning. I have done some reading and realized that there are some new services that make things easy like Cryptolife by @Hazard. But it only takes as far as to create the wallet and genesis chain (through premining) but once it is hosted and ready, what are the next steps that help make it tradeable, have its own faucet and be exposed more to the public and be on major monitors and media?

I understand it is a lot to ask for. But this is my first post so do please be kind Grin

Walid

Topic: Steps to start and grow a new altcoin? (Read 910 times)