Why creating more coins. - page 4. | Bitcointalksearch.org

Thefrolly

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Quote from: Mkpez on September 11, 2018, 10:24:01 AM

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

That is one of the obvious things that is holding the market back right now, there is are way too many coins in the market, money which should be focused on the top coins to enable us go into a bull market are now being spread around over the thousands of coins in the market thereby removing the required concentration of money on the coins that we need the most

Invigorated

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Good question..... I have asked this same question repeatedly without any convincing answer yet. I believe the crypto industry is saturated with several coins that normally shouldn't be. The proliferation of these coins is alarming and needs to be checked. Over 60% of these projects and their tokens have no applicability whatsoever and their developers are only after grabbing as much monies from token sales as possible and leaving worthless tokens at the hands of investors. It is a worrying situation which has been made possible as a result of No regulations guiding this industry. There is practically no reason for creation of more coins or tokens when really they are offering absolutely nothing!

South Park

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Quote from: Mkpez on September 11, 2018, 10:24:01 AM

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

We know that many coins are created just to make money, however there are valid reasons to have many coins in the market, one of them is that we need redundancy, if for some reason a coin disappears we need a coin that is similar to it so it can take its place without affecting the market too much, another reason is that we need competition that forces the developers to try to create the best possible coin.

JuanPaulo

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Quote from: Rockkey on November 05, 2018, 03:55:23 PM

A large number of new projects that arise - this is a necessity. Each new project has its specific application in the economy of our planet, therefore, each individual project needs to have its own currency.

Many projects overlap. Some projects are created to deceive investors. I think only 50% of new projects are needed by the cryptocurrency market. The remaining projects will die very quickly.

IndianaJons

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Quote from: Rockkey on November 05, 2018, 03:55:23 PM

A large number of new projects that arise - this is a necessity. Each new project has its specific application in the economy of our planet, therefore, each individual project needs to have its own currency.

You are joking? Each new project is somehow a repetition of the idea of another project. Those projects that have the know-how immediately become leaders in investment and there are very few such projects.

Argoo

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Most cryptocurrencies are tokens, and the scope of their application is still very diverse and as they continue to emerge, as people have new ideas for their practical application. ICO activity is a very good way to improve cryptocurrency, so we need new coins and tokens. Vseravno useless types of cryptocurrency market will reject, so do not be afraid that there will be a lot of coins. On the contrary, investors now have a choice.

unbotak

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Quote from: coco23 on November 09, 2018, 01:11:45 PM

Quote from: alex_kir on November 09, 2018, 10:58:42 AM

In support of the opinion that the creation of projects today is just the greed of people and nothing more serious, I still hope that people will come to their senses very soon and begin to understand the more disgusting on the market of garbage it is.

It is just too easy to make new coins. Some do it as a hobby, some to learn the Bitcoin code and most just want to make quick money. In the longterm the irrelevant projects will just disappear...

with easy fees and methods, it's not surprising that many are interested in making their own coins. but what is unfortunate is that they only want to get personal benefits, if only they are more serious then the more new coins, the better for crypto and for investors because they are more free to choose coins to trade.

ToyotaFortuner

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a lot of cryptocurrency is created and there are so many of them who try to create cryptocurrency with many ICOs that are trying to become the best platform for cryptocurrency finance so as to make a lot of new coins.

coco23

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Quote from: alex_kir on November 09, 2018, 10:58:42 AM

In support of the opinion that the creation of projects today is just the greed of people and nothing more serious, I still hope that people will come to their senses very soon and begin to understand the more disgusting on the market of garbage it is.

It is just too easy to make new coins. Some do it as a hobby, some to learn the Bitcoin code and most just want to make quick money. In the longterm the irrelevant projects will just disappear...

B.

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decentralization is also intended to be free to participate in businesses that enter the free market, you can even make your own coins. Many altcoins look similar, but one of them is able to bring different goals and in the end the market will respond and the best coins will go to the top and survive, crypto currencies are dominated by quantity and not just quality.

kramchers

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Why creating more coins in cryptocurrency?
to gain more project for the future and for the world.
cryptocurrency is a good thing to get more project that is really worth!
ICO is the best thing to fund it! there are more people in this world who can't have the money to have a good project working.
this where ICO works and it is really nice.

thundercrystal

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Quote from: Mkpez on September 11, 2018, 10:24:01 AM

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

I think the one of the main reason why many are creating some coins is just because they want to destroy the other coins and they want to be the top of it. Because when the coins that they are creating became mainstream they will earn more money. It is just all about money why they are creating more coins.

Watashi Yamashita

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Quote from: Mkpez on September 11, 2018, 10:24:01 AM

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20 widely known coins, their standard is maintain, investors will be happy.

I think why people are still creating and merging more coins is just because they amazed on what the bitcoin reach so that they want to follow the path of bitcoin so that they are creating so much coins right now.

Gromx

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Many projects are really very useful and solve many problems...but now they are massively simply not needed in the market.Crypto currency is only gaining momentum and it will take a lot of time for this.

alex_kir

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In support of the opinion that the creation of projects today is just the greed of people and nothing more serious, I still hope that people will come to their senses very soon and begin to understand the more disgusting on the market of garbage it is.

george_hured

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Thinking that it is probably time to close the question, because it’s understandable that most people create projects only on the wave of this HYIP, which is on the market today, but there are already very few of them and really cool guys.

mechanic081971

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Zaydo

They creating more coins because of 2 things. 1 is for the new opportunity for the investors and other holders even bounty hunters and 2 is for scam purpose.

Ionzar

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In fact, preparing and releasing a coin on the market is not so easy. To count on success and attracting the necessary investments, you need to have a fairly promising project. I believe that the regular appearance of new coins helps the crypto market to develop, although it creates certain difficulties for the investors themselves.

btccrusher

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Well, sometimes its about making money and sometimes it's experiment to develop the blockchain technology for different purposes, that why people often create new coins. On the other hand, being a developer why should they miss the chance to get some free cash out of everyone's pocket by offering a valueless shitcoin?

KuyaBreezy

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Sometimes I also feel some adversity towards coins that are quite unnecessary, for example now we have in the market, 20 options of transaction coins, I think that with 5 options with different transaction times, different fees and security would have been enough, it is true that we need innovation, but if they keep coming out similar coins that means they keep winning new investors.

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