The Reason For Creating a New Cryptocurrency? - page 9.

Siren

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

The real reason?they are just creating this new cryptocurrency to scam investors,because in reality most of the service and product that can be offered by the ico has been active already meaning the ico that is trying to build nowadays are just copycat and design to mislead people and become a victim of their greedy actions,so dont mind those newly opened unless you are capable enough to analyze the reliability of each project

lungu113

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To create more tradings and also use it as pumps & dumps. More cryptocurrency is the hard to make the other price rise up.

Vashti

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There still things that is needed and looking for solution is the best reason why a new token or project is needed to be created

Sled

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I think the main reason for creating new cryptocurrency is not always about solving a current problem but just trying to maximize their profit making opportunity because if they can create a cryptocurrency and create an idea that can be sold for a lot of dollars then they will do it without minding if they are really serious for the future of their project.

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

Most of the business tycoon sees that creating an ICO and their own Crypto currency is an opportunity that can't be miss so i think they are grabbing this opportunity because of course to earn more money but unfortunately some of them abused it by creating new currencies just to scam people or just to collect lump sum amount of money for a none potential and not feasible projects.

itsik78

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

No successful cryptoproject created a coin for the sake of coins (except for fraudulent schemes) Except for the latter, there are several reasons for creating:
First of all, the development of a new system
Another option is that the creator of the future crypto currency invented some new form of exchanges or an algorithm capable of further protecting the digital ecosystem
Owners of online games in the future can actively create their own crypto-currencies

Johnyz

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Quote from: SaraMartin1212 on July 30, 2018, 12:00:23 AM

Possibly, the creation of a new Cryptocurrency is to rebalance the crypto market. At present, the number of crypto in the market is very large, but the value of each type of difference is very high. The creation of a new coin must be done at the same time to create the trust for users to receive the trust of the investors.

That's not the case we saw a lot of coins everyday because a lot of people wants to do business here and its not about re-balancing. Actually, some of those coins are here to scam people, they created that coin for that purpose. For me, if you really one a good business then create a platform that is really useful so you can survive in this market.

Eleanorrussell64

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The main reason for creating new cryptography is the change and improvement of electronic money technology, and the is still profitable.

Kang Bahar

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I think, there are 2 reasons:
1. A project that had great ideas and concepts that can be implemented on blockchain technology which is very potential to have a bright future, which we are did not imagine it before. They will need a huge capital to develop their products to becomes real in order to be used publicly, as they promised. Then they will raise funds through TGE, ICO, etc.
or
2. To enrich themselves in a way to make a fake project with the nonsense ideas and concepts on behalf of blockchain technology.

SaraMartin1212

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Possibly, the creation of a new Cryptocurrency is to rebalance the crypto market. At present, the number of crypto in the market is very large, but the value of each type of difference is very high. The creation of a new coin must be done at the same time to create the trust for users to receive the trust of the investors.

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Quote from: Ondre on July 29, 2018, 11:47:13 PM

Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

Others are for the purpose of starting a better crypto than the others than can compete with those who are on the top. Others are just scammers who take advantage of people and their money. Others use it for thw development of their company.

well, I think there are so many reasons for this. the reason for the new cryptocurrency is of course to cover the weakness of the previous coin. well, although sometimes it is used for nearly the same project, sometimes the new cryptocurrency has a striking advantage in the previous comparison.

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

Others are for the purpose of starting a better crypto than the others than can compete with those who are on the top. Others are just scammers who take advantage of people and their money. Others use it for thw development of their company.

jahda1001

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

The simplest reason is that they want to make money. The sale of ICO makes them have a lot of money to invest and develop the project. But not all projects are truly developed, besides many projects are created to scam. Almost all ICOs work properly, accounting for only 2% of the total.

Grayy

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Quote from: cryptocurrencyguru on July 29, 2018, 07:48:51 PM

the main reason for new token is entering the blockchain technology and crypto market and giving tokens instead of their company currency so it is worth starting a token

Does every company create a token? Blockchain adoption is far above the mere creation of tokens. Blockchain is to help ensure top security and improve transparency. The police service, Health service and so on can adopt blockchain without creating a token

Alert31

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I think the reason for creating new cryptocurrency is to have an easy money by the creator only. a lot of fake ICO out there now and they don't care about you, they just care about themselves on how they can earn money through people then after they got it they will disappear. Another thing that i think the reason why they create new cryptocurrency to distract others focus and scattered the demand.

cryptocurrencyguru

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the main reason for new token is entering the blockchain technology and crypto market and giving tokens instead of their company currency so it is worth starting a token

Vness10

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

There's a many reason why some people make a new cryptocurrency because others want to scam the investor that's why some of are making a ICO to scam the people. And some of the reason is to pump and dump or usually other company wants to have good reputation in the crypto world.

Gdra467

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Some of the up and coming tokens don't have real use as bitcoin and other tokens/coins. The increase in the number of tokens make it extremely difficult to identify which new project is authentic. Some of these projects should collaborate with others with similar ideas to build a better platform. Competition is good but "Quality" is better. Isn't is possible that some of these projects that create tokens any time adopt bitcoin?

hanzosum

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Quote from: davis196 on July 15, 2018, 07:20:40 AM

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.

When I saw the title then thought same reason for that. Yeah so many useless and no needed new crypto currencies born every day for that reasons mostly. 95% of that currencies will die and only "just" 5% of them will survive.

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Quote from: stewert on July 15, 2018, 05:52:24 AM

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?

If we will speak about alternative cryptocurrencies, the reason is very simple, and it is a creating of new ICO to achieve some goals to solve some problems, to create something new, etc.

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