Why people try to create their own coins? - page 63.

Insanerman

sr. member

Activity: 1162

Merit: 450

Quote from: StevenPop on May 04, 2018, 07:20:07 AM

A lot of people view creating coins as a means to get a lot of money in a little amount of time. They are the ones that are actually ruining the cryptocurrency market by pushing a bunch of useless and dead end coins into the market which people cannot use outside of trading. There needs to be some kind of regulation on coin creation.

I agree with you mate, more and more people creates shitcoins without thinking the risks sacrificed by their investors. We need some kind of regulation as well as more scrutinized security whem implementing a new project. There are bunch of sjitcoins out there wherein the developers hit and run
Carrying others pockets. Maybe should we involve SEC like organization in crypto in dealing with this kind of problem?

hoanglann0990

newbie

Activity: 76

Merit: 0

People want to repeat another's success, for example bitcoin and etherium. They dream of getting rich quick. I think this is the main reason. Perhaps someone creates new coins for only fun. Smiley

donadoni212

full member

Activity: 456

Merit: 100

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why they make coins that are useless and valuable? the reason is they want to earn money by making an ICO scam, you can see at this time a lot of ICO scam they just want to get the money then go.
the growing world of crypto makes a handful of people take advantage of the situation by creating coins or ICOs to cheat.

Raist

full member

Activity: 490

Merit: 102

Quote from: ember.suc on October 09, 2017, 05:03:56 PM

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

That is not time waste - that's unique and fresh experience of issuing your own money. Fed is issuing dollars and Joe issuing pipecoin. That's great.

Impros88

full member

Activity: 293

Merit: 100

There is many reasons, why people are trying to create their own coins. But main of them is money. They are making own coins, because they think it could be successful and they can make money from it. But, not always it happen.

StevenPop

newbie

Activity: 196

Merit: 0

A lot of people view creating coins as a means to get a lot of money in a little amount of time. They are the ones that are actually ruining the cryptocurrency market by pushing a bunch of useless and dead end coins into the market which people cannot use outside of trading. There needs to be some kind of regulation on coin creation.

Suslived

member

Activity: 252

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Quote from: ember.suc on October 09, 2017, 05:03:56 PM

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

Are you sure we are talking about nothing? ICOs have become an extremely profitable business and that is why people create coins. Sad as it is, majority of ICOs today are built for the sole purpose of taking people's money with the promise of providing a revolutionary service innovation. Most of the time tho, these ICOs fall short and end up never delivering anything.

People need to get educated and do research before investing.

A.Bagdad

member

Activity: 109

Merit: 10

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Quote from: ember.suc on October 09, 2017, 05:03:56 PM

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

What's wrong with that? I've always wanted to be on some sort of bill is shown or at least like something to do with her appearance. The same thing here, Buterin became famous all over the world with ethereum, although ethereum and Buterin are not connected at all. Not to mention Satoshi Nakamoto.

Feuerbach

full member

Activity: 448

Merit: 100

Quote from: ember.suc on October 09, 2017, 05:03:56 PM

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

There are coins behind which projects stand. There is simply a scam created for rapid ennobling

OSEIBOATENG

member

Activity: 238

Merit: 15

Most people to my view has seen that this means has created a source of income for others thereby trying to create their own coins which brings about the copy cats. They end either stealing ones ideas or copying them and manipulate it in such a simple way which will be little bi different from theirs but at the long way round they have the same ideas. Greediness has now come into this Crypto business.

Lora_ng15

jr. member

Activity: 452

Merit: 7

people create their coins in order to make money, and it's good if they create some useful commodity and do not sell air.

antoclaus

newbie

Activity: 72

Merit: 0

Some just want to make money on it, some of them are scammers Angry

But there are some really good and promising projects. They try to make this world easier and the blockchain helps them in this.
Even there are good projects that do not collect their softcap, and they have to start all over again

TorbjornE

jr. member

Activity: 148

Merit: 1

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It seems to them that it is easy and simple, and that they are sure to be successful and they will become rich. For fairness, you can remember that Dogecoin (DOGE) was at first only a joke and it was a successful project.

jaocoincrypto18

full member

Activity: 630

Merit: 103

Quote from: ember.suc on October 09, 2017, 05:03:56 PM

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

Maybe because most of this business tycoon want to follow the path of Bitcoin in which it become the most successful and the most promising crypto currency investment of today but it just happen that they are failed to follow the Bitcoin with their different reasons of failures that is why their coins is not successful to attract investors and become crap.

namtwin

newbie

Activity: 22

Merit: 0

There's a lot reason why many people is trying to create their own coin,one major reason is for quick money specially those who run after .But there's some creating their own for a good purpose not only to earn but to bring their coin into crypto in a success level and let it be popular

luffare

full member

Activity: 350

Merit: 101

Just for fun! Grin

Just joking. Think the only reason of making your own ICO is real money in 99,9% of cases

netil

member

Activity: 150

Merit: 12

Each coin has it's own ideology and some purpose. Nowadays in conditions of hype and influx of new users, ideology of the coin has been reduced to the conduct of ISO and fundraising. A huge number of projects do not even have a clear documentation, not to mention long-term goals.

Crypto Lady

full member

Activity: 378

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The main reason for creating a lot of coins is earnings. I think that the creators of many coins do not care much for the future of their project. They just deceive people. But there are very good developers who really want to improve the life of mankind.

castellodocet

newbie

Activity: 182

Merit: 0

Some of them just want to earn money from it, a lot may be scam, but among all of that there may hide an interesting project that deserves notoriety

seviandyosi

newbie

Activity: 166

Merit: 0

The idea that creative when someone makes the coins themselves because they are aware that the current crypto is an excellent opportunity to try to make their own coins. But they should also know about crypto principles, the concept of the coin should be very good and in terms of security. Hopefully can succeed than be a scam.

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