Why people try to create their own coins? - page 80.

adrianto1995

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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

Reason why so many people create their own coins or tokens i think it just for quick $$$
of course, most of them project just alive for 2-3 month and then gone...

coinholic

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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

Because they see the potential of earning big once they create and release their own coins. If a project is legit or valid and has a chance of gaining success, people will certainly invest in that project. It will be hard work for the project team, but the gains will surely be worth it if everything turns out well.

turneps

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umachit.fund

Quote from: Barcode_ on December 18, 2017, 05:11:09 PM

One of the main reason might be the creator of the altcoins trying to raise funds to fund his upcoming project via selling ICO tokens, but I think there are too many ICO coming out at the moment, and most of the projects does not seems to have any great potential to invest your money into it.

I agree with you. There is too many scam projects now. Some of them are too insolent. You can take for example Project C. They have neither white paper, nor idea, nor road maps, nothing, but many wear their signatures

killgald

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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

Most of the people wants to created of finance their own projects and this is a way to do so Cheesy

and if the project succed the coin will be an oportunity for other persons thats the magic of the cryptocurrency

Barcode_

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One of the main reason might be the creator of the altcoins trying to raise funds to fund his upcoming project via selling ICO tokens, but I think there are too many ICO coming out at the moment, and most of the projects does not seems to have any great potential to invest your money into it.

lenovo16

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Quote from: Vatimins on October 10, 2017, 02:23:10 PM

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

There can be a lot of reasons behind any ICO. Just like machine inventions. Some people may have built an ICO, for the purpose of helping the world. To make it better in the way that they know. While some does it to earn money for a various purposes. While others do it for greed or just scamming. While some just do it for fun.
But there really can be more reasons. The ones i have mentioned are the ones that i think are most common.

Yes eventhough there are a lot of reasons, I think its still fall down in a one conclusion and that is to earn money for their project. Because they are putting investment in the coin that they are launching so they also expect in return of its. They could think that they can collect funds from diffrent investors. Without noticing that they already releasing a lot of coin in the market. So the many the coin in the market the more competitors you will encountered. So this you will test the strenght of the coin in the market.

passwordnow

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Quote from: Tapyaks72 on December 16, 2017, 07:22:20 AM

Quote from: passwordnow on December 16, 2017, 06:12:26 AM

They are not wasting their time, they are doing it not for nothing but they are getting more than enough they are expecting by creating their own coins. They have goals and purpose on why they keep on making their own coins and that is to make more money, they don't care on how it will give reaction to the community. What only matters to them on how much they can make from ICOs / crowd funding.

Yeah there are no restrictions in creating coins every body can make their own coins aside money making maybe that is their fashion of life, what matter is how they create to attract investors to become profitable, because investors don't just simply buy ICO they do some research and they can easily detect or determine if the ICO being made is legit or true.

Fashion of life? or do you mean passion in their lives to make crap coins that adds no value in the whole crypto market or it may add value but only with its market cap and not the coin itself. Most of those coins now that are newly created doesn't really have a good potential and they are just hype makers.

SyrioForElle

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Because cryptocurrencies are clearly the future.

But all the existing solutions have weaknesses.

Take Bitcoin for example. High fees. Long delays. It may function as a store of value but it would struggle to replace national currencies.

Keep in mind also that there might not be one currency to rule them all. There will likely be several - each for its own specific purpose.

Tamilson

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There are two factors why they want to create their coin.
First is they want to follow the trend in crypto world and prove them selves that they can do better like the others and second upon seeing how a coin behaves in the market and how can it raise fund no wonder they can think of it as a way of generating money.
And they'll create a coin, luckily if it'll listed in exchanges but soon to be another shitcoin.

deean_3one

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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 they do so is to earn a lot of money. What is that? Of course money. They want to make a lot of money.

BCwinning

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so they can pump and dump it
so they can pump their ego up
it's the latest fad

Karto

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hahaha i asked myself once..
some doing it because it art
some for money

sometimes i think that if half of the coin creators would consider to help another coin to evolve instead of copying it, crypto would be better and less toxic... there are a lot of meanless competition mainly created by communities and there are some coins that have a good idea and dont have enough people to make it happen

Yoshinoya

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Because this is the future, so most of the people try to create their own coin.
and this is can be profitable, and they want to be famous and have a reputation in cryptocurrency world.

CaptainKid

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I believe, because the market is crypto currency - it is cash-intensive and there is an opportunity to make a profit by deceiving people. They create non-existent projects that are only on "paper" to attract investors and make a profit, and have no further development.

TheAlchemist

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New ideas are born every day. The teams want to put them into practice. They create a new product and a new coin. This is life and evolution. I think they will be more and more every day.

Hallmader

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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

Most of them are simply trying their luck out. That is why there are so many altcoins right now. That is also the reason why there are so many ICO and airdrops being offered in the market today. Many of them lack the innovation and solid foundations that are much necessary in the success of any crypto project. That is also why people are saying that there are just too many scams in the crypto market today. That is so true.

Sarastiche

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BITCOIN IS THE CURRENCY OF THE GLOBE

Ico is the rave of the moment,reason why all investo need to tread with caution,lots of coins comong up this days without any value to add to the society

best ever

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I think there are two kinds of people who create own coins. This is children or IT amateurs. The second group is represented by men who have original ideas for promotion coins which could become a serious thing on the market.

cryptoprophecy

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The ignorant mind, with its infinite afflictions, passions, and evils, is rooted in the three poisons. Greed, anger, and delusion.

Meepospammer

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People create their own coins as a way of growing their community. Having your coin makes it easier for you to do promotion. Just like a person having that coin will probably tell his friends about it in order to get more and this increase the value of token. Having your own token means that you have full control on it. (The price generally) . Tokens use vary ( depends upon the developer). Though we can't deny the fact that coins are created in order to gain profit. As what I have observe, some people are taking advantage of these so called tokens. They are only using the token as a way to gain profit. They are creating useless tokens that won't give service to the community. And I think, this kind of scheme hinders some people to fully engage in cryptocurrency.

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