Why people try to create their own coins? - page 57.

jimimcome907620

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

It is not a wast of time. They can make a lot of money from the coins that they created. They may not mean to fail the project sometime but some of them may mean that.

Suwycu

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It's a good question! Really! Sense of altering for a copy of similar projects without changing and supplementing the platform on which everything will work Huh

silverleafy

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There are two options:
1) they want to earn quick money
2) they want to change the world to a better place

sultanGol

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It sounds cool, to have your own coin I guess Grin

But if we talk about ICO-s, and the fact, that most of them do not bring a real value product, they just want to earn some big money easily. Unfortunately, in crypto it is easy to scam people.

Suslived

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

Waste time for nothing? LOL. I beg to differ.

People or "scammers" create coins to take money from people. This is common practice and is probably the reason why we have more than 2000 coins already. Most of them are shitcoins who PUMP and DUMP to take money from unsuspecting crypto newbies.

thesuriel

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Most see it as a money-milking machine. It is your ticket to getting rich. What they don't understand, creating the coin is easy but maintaining it is the hard part.

flymnb

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This is a prosperous market. It is very simple to have good ideas to find like-minded people to create.

dumplingsandsushi

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Well, why not?

Blockchain technology is open source, the whole basis of it is that anyone can jump in and use it.

So they want to make their own coin?
Sure! It's not like it's hurting anybody.
And if you think that more coins equals less money in the market than you need to study up on market economics.

The way I see it, more participation in the actual tech the better.
Since crypto is still in it's infancy, any kind of development (even if it goes nowhere) pushes things further and faster.
Eventually, when the market matures, there will be only a handful of core businesses that will dominate the market.
The only way these happen is because there is competition and failed companies.

And besides, some of the coins are actually kind of funny, like Jesus Coin.

ervinmadureri

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Quote from: jones stone2505 on May 10, 2018, 08:49:45 PM

Naturally one would assume coin are been created because of excitement of discovery by a given Dev. When someone discover that he could make certain tech work better or create wonderful service out of existing protocol etc.

A lot of people view creating coins as a means to get a lot of money in a little amount of time. People tend to create new coins in order to compete with the current coins we have, Imagine if your coin gains the popularity of bitcoin then price with one coin will sky rocket you will be an instant billionaire, especially if you control the number of coins

bealjulian

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Quote from: Alluvial on January 19, 2018, 01:35:36 PM

I met a guy who "sells" a coin development for 10,000$. Anyone with 10,000$ can have him build them a coin and get it up and running. So there are people who don't understand the core goal of crypto-currencies are de-centralization and think "If I have a coin I control I will be rich"

There's so much ICOs now a days. Some trying to copy past successful ICOs but fail and ended up on refunds. Creating a token is a fantastic way of raising revenue for a project which may have high upfront costs but has serious potential to be an innovative business later down the line. Some really exciting innovative projects simply just need so much development time to make the project revenue generating so a token sale allows a way to get to that point

harriette

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Quote from: Shaminyue on December 26, 2017, 01:55:26 AM

From my point of view, creating their own coin is not for nothing. For those who have excellent idea but dont have enough capital to work on it, if they're lucky, they can get huge amount from their coin and make their dream come true

ICO's are launched in a great number but there are a few that come with innovative ideas, but we can't say that doing it is useless. Blockchain is a new technology which still have a lot to improve. Since blockchain technology is less then 10 years old thousands of new investors join the community with a belief of being rich through crypto

jops

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

The reason why people create their own coin is "MONEY''. They create also their coin to compete to the other coin to gain more investor. And also they create their own coin because they thought that the coin they create is much better than the other coin.

backbon

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if just copy paste like scammed project, but if ICO to invite people join project ICO to get money for project. ICO tren on right now 2018.

v3liana

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

its quite common in businesses. Competitor with same idea are trying to competing in the same sector. People just wanted money as same as the success ico so its quiet okay and has been happening in our live.

unplug

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

I disagree about wasting time. Because for me making coins is like making money. They make new coins for two reasons:
1. To make and build there project
2. To make a scam project and earn quick money from it
For those who are legit one its not a waste of money because they have goals.
And for those who makes scam project its not a waste of time also because they make money from it by scamming people who trust them, what a shame !

dongyi17

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I think they create their own coins cause of money, they create project and used coins of their project so they can earn more, if the investor used their coin. Some of them legit but others scam so be careful to buy new coins.

heureca

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

New coins are emitted to attract money to startup. So if you are going to start business (mostly based on blockchain) with investors money you need to create criptocurrency with some tokens supply for future ICO.

reality18

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Quote from: ember.suc on October 09, 2017, 04:03:56 PM

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

It is true that several alt coins abounds in recent times and every coin created has its goal. Most of these coins are created by inexperienced developers who do not have much innovative ideas to bring something new to the world. They turn out to copy the ideas of other projects and deliver poor services. In the long run, their coins devalue on the market.
This is the main reason why you need to study well a project or ICO especially its team members and the purpose of the coin before investing.

wilberthh

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What you mean 'they waste their time for nothing?' Although most of the coins in the market right now is just a copy of one another, but you can't say it that way. I think they created that coins for one purpose only : 'money'. Most ICOs raised over millions of dollars although in my opinion those coins are just a mere copy as well. But well, they are clearly not wasting their time. They are making money.

bit..what?

jr. member

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Most coins are only made for someone to make money from it. I think that's the main reason.
It's no wasting of time, if this people make money from this clone coins.

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