Topic: The Reason For Creating a New Cryptocurrency? - page 13. (Read 2263 times)
To make money. A high % of the newer projects/coins are either a rip-off version of another crypto or just a basic project with no innovation. Those coins offer nothing but the posibilitty of making a quick buck. The crypto market is very profitable since there's always going to be people investing in shitty pump and dump coins just to make some quick profits, that's basically one of main the reason why we see so many new coins every month. Then you have legit projects (which don't care about the profits) from devs and enthusiasts who actually want to offer something new in the cryptosphere, but they're just.
To lure investors so they can make money from the crypto that they made. That's the first thing comes in to my mind when I see ICOs and forks. After some time most of these alts will be worthless then other developers announces a second version of their worthless alt to fix the mistakes so they can keep making money.
Others make their own crypto to replace the older ones like Bitcoin but we all know that no alt would replace Bitcoin.
Others make their own crypto to replace the older ones like Bitcoin but we all know that no alt would replace Bitcoin.
Some of them intentionally create it so that they can raise the funds and run away. 
It's most likely that most of them do it because of the $.. The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?
Of course to earn money, but really they create new crypto or do ICO to raise fund for them to used for their project or to start and finish their product. The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?
Its the project they create and not the coin really. They create the tokens for the share value, internal currency adoption or utility purpose for example. We know that coins mean way of connecting investor and businesses so that they can raise the funds.
Some of them intentionally create it so that they can raise the funds and run away.
Some of them are genuine creators and do what they promised and those are the coins which make it upto the CMC or big exchangers.
Reason number one:For pump&dump purposes.
Reason number two:Exit scam ICO(which is kinda like the first one,but with pump&dump they could pump the coin again and gain aditional profits).
Those are the real reasons.The fake reasons include:instant and cheaper transactions,easy and profitable mining,technology innovation that will beat the crypto competition.
Reason number two:Exit scam ICO(which is kinda like the first one,but with pump&dump they could pump the coin again and gain aditional profits).
Those are the real reasons.The fake reasons include:instant and cheaper transactions,easy and profitable mining,technology innovation that will beat the crypto competition.
I'm sure that majority of cryptocurrencies are like that, they are created with a purpose of making their creators rich and will die eventually because there was never real goal of developing them.
However, some developers start their own cryptocurrencies because the field is still very new and they think that they are smarter than others and can create a coin better than all other coins or a coin with unique features. Take Vitalik Buterin as an example, he wanted to become Bitcoin Core dev but was rejected, so he started his own project.
To compete in the crypto world by providing different technologies and maximizing their use as currency or others to be the best of others and most importantly it is very profitable where so many new coins are everywhere, they build utility coins that he thinks will be more interesting and bring the needs in the community. As a result, the coins will be more liquid and the price potentially continue to rise, the more advanced technology then there are many opportunities to keep up with it.
However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?
Some new cryptocurrencies has real value. When the token has a real world use, or when some real business are moving there operations to blockchain.However I think most of the new altcoins are just created to make easy money, as you can see so many ICO scams out there.
The main reason for creating new crypto is innovation because already all the projects are available in the market new projects is little alter the new technology so this will more favourable and secure in future surely this will going to moon. But main aim of new cryptocurrency is security and technology.
Perhaps, To meet the market needs that have not been touched cryptocurrency and for fundraising projects.
Reason number one:For pump&dump purposes.
Reason number two:Exit scam ICO(which is kinda like the first one,but with pump&dump they could pump the coin again and gain aditional profits).
Those are the real reasons.The fake reasons include:instant and cheaper transactions,easy and profitable mining,technology innovation that will beat the crypto competition.
Reason number two:Exit scam ICO(which is kinda like the first one,but with pump&dump they could pump the coin again and gain aditional profits).
Those are the real reasons.The fake reasons include:instant and cheaper transactions,easy and profitable mining,technology innovation that will beat the crypto competition.
The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?
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