Topic: Why Create a Cryptocurrency in 2019? (Read 571 times)

Creating a new cryptocurrency is not so difficult if you have certain skills and, of course, finances. A more difficult task is to make it successful and liquid. Today it is not so easy to win the attention of a large audience and become a major player in the cryptocurrency market. Especially amid scam that thrives in crypto project sphere.

New coins will always keep coming and most times they will come with a vision of revolutionizing the old ones. Unfortunately most of this new projects lack what it takes to achieve this aim and hence will be another shitcoin. Sometimes it will be cause they lack funds and support for further developments

Just answer: new idea, new solution, new platform, new crypto currency for community and ecosystem!
Why don't do it when it can revolute the market ^^

Investors having no good amount of knowledge are easy victims of scam projects and this is why it is recommended to learn about the coins and market first. This will give pretty much good idea about how system works. The most important is to develop sound understanding of bitcoin as all altcoins and projects depend on it. Scams are not only problem of digital coin market but all domains.

You will become rich with investing if you invest a massive amount. Huge capital tends to be more near with the term rich as here, on this kind of industry what you risk is what you get or lose. This is why scammers are running after investors, because of this fundamentals.

Preferably newbie investors, what investors should possess is the knowledge of what they are entering to and so a bunch of researching is a must. These days investors did become greedy as they have seen the growing opportunities on digital investments without having proper skills and knowledge. Many investors got caught on net of scammers last year giving ICO projects less substantial growth in contrast with the previous years.

If I could create a currency I totally would, there is a big gap in the "a blockchain that includes everything" market but unfortunately it is not easy to build one and also get funding and be famous at the same time.

I would love it if I could create a coin that both had dividend like structure where it is used for a utility, like an exchange coin that gives payments for the exchanges trading fees, or a casino token that gives dividends for what people lose and all that, anything would work really as long as people would earn, plus a staking type of structure that would also pay you for holding it, a dapp like system where it could build games on top of it, and really fast and cheap, probably free and on top of everything else it should have a smart contract system where you can create tokens on it as well. All in one.

We don't know where inflation comes from. Economists generally agree that 2-3% inflation is healthy for economy. They don't have scientific evidence for it. Inflation seems to be an illusion to motivate us. I think inflation is a natural phenomenon. Even the physical universe inflates. When I look at cryptocurrency, its economics does not make sense. Everyone touts Austrian economics and deflationary supply. We end up just hoarding tokens. I think crypto economics is incomplete.

The purpose of Bitflate experiment is to find a way to incorporate inflation into cryptocurrency. Bitflate introduces 2 new ideas: inflation and a reward schedule to bootstrap inflation. Bitflate has 7% inflation for transaction use case, Bitcoin has zero inflation for Store of Value use case. Together, we'll have 3.5% average. Maybe, they'll make an ideal pair of cryptocurrencies.

creating new projects only make failed possibility bigger . and ofcourse shitcoin will added again in cryptocurrency market. And maybe there are many inventors will be the victim from this projects too.there are many projects that actually need our help, if we have no skill in developting we could help to promote this projects so more people will know about this projects.

Everything that you described looks very interesting. I would like to see this when it will work. However, I do not fully understand the purpose of this experiment.

Digital coin market has become the hot topic of present. it is grabbing attention of more and more people on daily basis who want to become rich by investing in cryptocurrencies. This has also grabbed the attention of scammers. The problem with investors is that they don't do any Research and just jump into the investment directly. saying promising words is enough for pulling innocent people to a project and they get scammed ultimately. That is why it is recommended to invest in old coins.

If you have an idea about something that can help to change the world then you should create a cryptocurrency. You should do it without basing on the date because as long as it can help to make the life of humans easier then it would get a lot of attention. Just focus on your craft and the profit will follow since cryptocurrency is always at the internet, it is so accessible.

That is the wonderful thing about this space,,, and the bad thing about it. But I prefer to think of the good side, where everyone is free to do what they want and in the way they want to do it.

Can you do it without money though? I think people should take inspiration from Bitcoin and create what they believe in without looking for money. Or go with Bitcoin and see how you can improve it without doing anything and earn from that recognition.

So in this regard, I think it’s much better to use old coins than investing in New as old coins must have good features that every investor wants to have. We should believe the inability of old coins and creating new coins will need so much effort first to crest it and then to promote it. So those who offer new coin we should ask about the potential and features of that coin.

I'm not making a claim that Bitflate is better than Bitcoin. I think Store of Value and Medium of Exchange are 2 different use cases. Bitcoin is Store of Value. We need a coin with inflation to make crypto work for transaction. I don't see Bitflate directly competing with existing Store of Value. Bitflate will have 7% inflation rate. But its coin supply is still limited by inflation rate. After the 1st year, we'll mine 10 million coins. But to get 30 million coins, it'll take 10 years. See reward schedule below:

0: 50 (supply: 10 million)
1: 25 (supply: 15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (supply: 31 million)

Bitflate dev here. I think if I launched in 2017, I wouldn't have been able to compete in ICO rush. People would have laughed at the idea of adding inflation into crypto. Many still do. Everyone was jumping on the next big platforms. Most of the coins were pumped and dumped. It'll be very hard to get my idea across. I propose running a parallel blockchain with inflation. It is fairly strange and weird. It is against the idea that made Bitcoin successful.

But maybe, my idea is launched at the right time. In 2019, ICO rush is over. We've tried a lot of technology, platforms. Adding more layers to Ethereum won't make it better. Lightning Network isn't going to make Bitcoin more transactional and drive adoption. Will halving make price go up? Litecoin is showing us that it may not. There's less noise in the crypto market. It's time to revisit the core tenet of crypto: deflationary supply. We need another blockchain with inflationary supply for transaction.

Bitflate introduces 2 new ideas: inflation and a reward schedule for early adopters to bootstrap inflation. They're both about economics, not tech. I think we've tried enough tech. I studied many blockchains. I decided that we only need these 2 changes. I need help with Core client and wallet development. If anyone is interested, please reach out. Join our Discord channel: https://discord.gg/utnEyp8.

Bitflate is experimental. It's decentralized like Bitcoin. Anyone can mine, buy, sell the coin. I don't make any price prediction. I personally think it has potential. Not investment advice. Do your own research.

There are so many reasons why there is still a need to create a cryptocurrency in 2019. Not even counting the personal and greedy reasons that scammers and greedy developers have in mind. They will never run out of reasons on their own. I guess the real reason is that the world has yet to fully convert into blockchain and tokenizing the traditional businesses. There is a reason to be more transparent also. This will be done through cryptocurrency with the help of the blockchain. There is also a need to make transactions really fast.

Everyone can say anything, anyone can do anything even a new project like the OP is working on. The problem now is how you can attract people to join and be willing to spend money on yourself. Making a project is easy but what's difficult is to consistently develop it. No need for complicated matters and promises at the beginning if in the end the project only runs for a few years. We are in a time when investors have realized that this is only a game of money for developers.
Goodluck OP!

You might want to seriously listen to that feedback.  Tho I don't know the specifics of what you're proposing, just take a look at how many coins and tokens are already on the market and how similar they are to one another.  If you're serious about making a new coin and want to make it attractive, it's got to have some advantage over everything else that's out there right now, else it's going to be just another shit coin.

Uh, yeah.  That's why so many coins made it to the market in 2017-18 and also why so many of them are now dead.  Unless you can attract a following, which most devs of new coins can't do, there's no chance anyone is going to mine it or want to own or trade it.  And honestly I don't think we need any more coins released at the moment, because they're all basically the same.

By forming new niches that are realistic and can solve problems that would otherwise be in demand. Of course, there are factors to benefit from the proposed project. But at least taking part in developing welfare is a good contribution to increase utility.

You are right that there are many coins in the market but those that need to be evaluated are essentially evaluated. New shitcoins are already created every day, we want a coin that can bring a new breath to the market. I do not think price is of great importance in this regard, every coin already has its own deserved price, and it will also find its price, good or bad.