Why do people start up new cryptocurrencies?

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Quote from: Zionatin on July 05, 2017, 11:55:28 PM

People are in hope that their coin will be the next best thing with high trwf evolume and value. Also coins all want to be seen as useful like Bitcoin with real word applications.

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Quote from: Kersh768 on July 05, 2017, 07:34:14 PM

Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

The number one reason is to make profit and nothing else. Of course as an investors, you want to invest in a good platform of investment which in this case is the crypto currency.

Using cryptocurrencies is the best way now to use our money for investmentpurposes since it can be used in any investment project worldwide wuth ease and efficiency,we just need to do more research whenever were trying to invest on it.

I agree. The virtual investments are the future of money.

And here in crypto ive learned a lot of how investing how does it work all come here for money and advantage to have knowledge interms of investing.

darkenedsoul

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

I think that several coins have been created as experiments or side projects, and have saturated the market beyond belief. There are however, several different companies/projects that are creating coins to help them achieve their mission, whatever that may be.

ICO's have further compounded this, because any business in any line of work, with a good proof of concept can now obtain their funding to start without getting absolutely reamed by a Private Equity Firm.

The goal IMO, is to find new coins that have a solid business plan, and something TANGIBLE to back themselves with. Everything else falls into a day trade pump/dump type scenario. Hype train leads the way..

3months18w

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

Some are just for money , some are going to change the world, it's up to the coin developer.Anyhow , if you want to invest in an ICO, do a research about the coin at first.

lecongnhan123

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

It's not only about money, just like the life, everything needs to be updated, people need to update things they already have for a better life, you know

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

I guess it is because all they want is to have the same thing with bitcoin popularity and money that bitcoin produces. How everyone wishes for that of course because even me I really want to create my own crypto currency and make a big name. Also these days making an Altcoin and earning in an ICO and then through exchanges is a good business and many people are creating lot of profits from this activity.

AiWanChu

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

because they want to make money off the gullible who think it will be the next bitcoin

danim1130

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well i guess because they have no money in the internet and also i think that there is a bit potential in cryptocurrencies.. there so many people that using internet as of today so that many of the experts start a new crypto.

chongo

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where are the times, where every few days started a new mineable coin - non pre purchaseable...
Everyone waited for the first pools to get ready and mined a good amount for the coins with a low difficulty..
That was fun and you didnt have much to lose.. gold rush feeling...
Now everyone wants to sell their crap coins in ICOs. Every ICO looks the same - advertised with pictures of a team of experts - looking like they
are the most successful business guys.
If I would know how to make a coin I would make it like in the good old times.
No premine - gpu mineable - same conditions for everyone.. but I am to lazy and dumb to do so Tongue

tiggytomb

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A lot of them will be purely to make a quick buck or two, especially when hosting an ICO as they will receive money ahead of actually having to have anything in place. There are projects out there which are decent and worthwhile but everyone should be aware and vigilant of potential scammers.

Arbol

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Quote from: Rhosadah on July 06, 2017, 01:52:51 AM

I think the new coins are just pursuing a fund-raising project, and the projects they build on new coins are just a solution to get the funds raised through ico

I'm new here and see that there are a lot of ICOs around.
Many of them are fake projects, but people still trying to invest in ICO. Why? Did someone here have already gain profit from ICO? I mean the investor, because the ICO owner probably had...

Rhosadah

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I think the new coins are just pursuing a fund-raising project, and the projects they build on new coins are just a solution to get the funds raised through ico

Idrisu

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

People start a new cryptocurrency project because of need for us to have such coins and it always has a target and objective. A coins is about to be louche on 8 of July call carecoin and it objective is to bring together nurses and sick people to a better services. We cannot measures all the coins and state there objective but in future we would understand that those projects will resolve most of the issues we are having now in every sector of humanity. I do believe that cryptocurrency was found to create a paradigm shift from our current economic system and procedures to a better decentralize one.

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Quote from: Kersh768 on July 05, 2017, 07:34:14 PM

Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

The number one reason is to make profit and nothing else. Of course as an investors, you want to invest in a good platform of investment which in this case is the crypto currency.

Profit is the major concern and the secondary thing is the ease of implementation of the project with ease and making all their transactions in a secure manner without complicating through different other platforms that takes long time for completion.

Herbert2020

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

the only reason i can think of, specially when i see someone who doesn't even know how to fork a github repository is to gain some "free money from the gullible masses". there really isn't any other reason for newbies with no knowledge about anything whose whole experience is a random article their read online on "how to create your own altcoin" to make one.

although to be fair there are a couple of good projects out there that were created by people who wanted to "innovate" and they were also successful to some extent but mostly lack the power to advertise their project.

Zionatin

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People are in hope that their coin will be the next best thing with high trwf evolume and value. Also coins all want to be seen as useful like Bitcoin with real word applications.

Quote from: ?? on ??

Quote from: Kersh768 on July 05, 2017, 07:34:14 PM

Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

The number one reason is to make profit and nothing else. Of course as an investors, you want to invest in a good platform of investment which in this case is the crypto currency.

Using cryptocurrencies is the best way now to use our money for investmentpurposes since it can be used in any investment project worldwide wuth ease and efficiency,we just need to do more research whenever were trying to invest on it.

I agree. The virtual investments are the future of money.

Kersh768

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Quote from: Crapz23 on July 04, 2017, 02:17:42 PM

I believe that people start up cyrptocurrencies because they either want to make some money or maybe experiment with the internet. It's basically like when a scientist test run a new gadget. It still is amazing how these cryptocurrencies live though. What do you think?

The number one reason is to make profit and nothing else. Of course as an investors, you want to invest in a good platform of investment which in this case is the crypto currency.

Adbitco

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Although some of the people coming up with new cryptocurrency may have an intention of making huge money out of it but there may be some others whose intention is not just making money but also to bring some kind of innovation to the blockchain technology and the cryptocurrency they come up with so everyone's intention behind launching a new cryptocurrency shouldn't be suspected and termed as scam. I wouldn't mention any particular cryptocurrency but I guess most of us there are a few of them which have a great potential to become second most popular cryptocurrency after bitcoin and that cryptocurrency is here to stay.

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Quote from: xhienigat on July 05, 2017, 01:14:30 PM

Probably its because investors and developers see great potential in the financial asset when bitcoin boomed the market. And people nowadays are hyped whatever new coins are invented or something but there are also some who have real sole purposes on those coins they are creating, but there are also sham coins which I know most of you have heard of. But one way or another the real and common reason would be because its easy money, easy getting wealthy and that's a fact.

You might be on onto something there, since the people that launch coins usually have to rely on another coin such as Bitcoin it’s really tough to see how many people are trying to use the coin just for the sake of having that coin. Mostly all coins are relying on Bitcoin exchanges that will allow the price of an Altcoin so they can exchange the coins for that Altcoin. If there was a coin that was only featuring the new coin with a real currency in an exchange then there would be more people trying to use it for that one purpose.

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Quote from: Sadlife on July 04, 2017, 08:40:27 PM

I guess the logic on why does people create new altcoin is their looking to make money by scamming people into launching their ICQ for more people to attracted into buying it that is also is looking to make profit into buying their coin and when they have collected millions amounts of money they just vanished from thin air or they want to create an altcoin that would potentially be one of the top ten crypto currency in the market like ETH, DASH. So i suggest dont just buy any altcoin you should do some research first.

I don't think people really want to dump others from the very beginning. I think they just want to become rich doing some business. As for new coins, I guess they mostly aren't very new but rather clones of the code written by genius people. Nevertheless, new ideas appear and get realization in the new coins along with some problems of the old ones solved. Some day a currency that used to be nothing will make someone very rich.

stevebc

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Create a Crypto, have an (unregulated) ICO.

A great way to fleece the sheep, if someone doesn't have any scruples!

Topic: Why do people start up new cryptocurrencies? (Read 2350 times)