Topic: Why people try to create their own coins? - page 81. (Read 11262 times)
It depends on what their objectives are. Some companies create their own application or website and make their coins circulate around and stuff. Some has their own innovations on how they can manage their coins. The other ones have their own objectives with their coins etc. It really depends on how the companies want their coin to be used.
Greedy people creates a shit coin to get profits from it,new investors are getting rekt by these coins they are all the same they want money money and money.
And the annoying thing is that naïve people fall for their trap. It is one thing to want to invest and it is another thing to try to invest wisely and some people obviously do not do that.This is a market that is not regulated and anything can happen and thanks to Ethereum that made every Tom, Dick and Harry to find it easy to think of a project, create a coin and then find investors and that really blazed in a lot of greedy people like you said, who has always been looking for the easy way out anyway.
Because they want to make alive their project or to make a quick buck (based on my observations).
Coins which random people create are just clones of others and are shit coins. They just create it for themselves. Premines it and then dumps it in the market. Creating clone coins are very easy. Most of these dump and pump coins are just shit and dies eventually.
I'm actually really passionate about Blockchain. I made the project SnapCity (https://www.snapcity.io), and I'm trying to raise funds for it. I've learnt so much on this journey and it's been amazing. I have no doubts that Blockchain is going to take over the world, in the not so distant future.
There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? 
It is not about wasting time, they put their hard work on their project because they want to follow the step of bitcoin and other top cryptocurrencies. Yes some of them are almost the same, but it was effective, why? because the ICO succeed at first place. Now almost every week there are always new crypto, but I think it was good because it generates a function that someday will going to beat Bitcoin.
I have also been thinking a lot about this.
How long will someone make new coins, whether it's forever or soon everything will end. I think people will miss the idea and will make new coins less often.
How long will someone make new coins, whether it's forever or soon everything will end. I think people will miss the idea and will make new coins less often.
There are a lot of reasons and they are all different. The main reasons in my opinion is the ability to monetize your business or idea, a desire to make quick money without having anything but a coin, or just curiosity.
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. There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing?
People try to create their own coins for marketing and to develop their own business. These people are called developers and they need to promote their platform. As other people support them, developers would earn more profit.
They all dream the same thing like us, to get rich. They think that if they own their coin and even they can make one coin a dollar, they will have millions of dollars but of course it is not a easy thing.
There is only a few amount of coins which really worth money and have technology base. Most of shit coins are scam, founders are making strong marketing ,pump price and then sell everything. Or they can manipulate with price and create vision of the successful project
There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing?
some of them have a lot of money and try to make and international effect.
other is hackers and promoting new coin to earn from it
Source code make it is easy to open new coin
Because people always want something new, something fresh, competition is important. And creating new alts really easy now
People feel that if just being a part of any project gets them some amount of profit, what if they actually create their own project with the utilization of their new tokens. But then, PROFIT generation is the actual thing. Although there are some people who create new coins just to con people and run away with their money, And it's us who has to take care of our investments so think before investing anywhere.
To make money. It is simple like that. All coins excluding Bitcoin are created in order to gain some profit. Especially shitcoins want you to invest your money in their token and then the devs cash out. So be carful where you put your money in.
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.
There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing?
People try to create their own coins for marketing and to develop their own business. These people are called developers and they need to promote their platform. As other people support them, developers would earn more profit.
maybe some people see and feel that they can create something better and worthwhile...some get it
becuase now a days creating coins is very easy and these get dumped on the exchanges by the dev team the very first day and earn the money, so basically money is the centre thing for all these organised crimes
That is why there are so many shitcoins out there. The Ethereum network made it so possible for someone to come into the crypto space, create a coin, give it some idea they think could fly and even if it has been in the market, see how they can make it work, and then over throw the available one or tweak some little things that would make it different.It is the world and that is how it is. Just like we have companies normally and the competition is huge, is the same way we have most of those coins.
That is true, but dig deeper and the systemic problem is us, the community. If we take a look at ourselves, we see a distinct lack of ideology behind our motivations for cryptocurrency. A lack of principles, a lack of good sense, and this transfers over to the communities we support and the developers behind those. Put out a "shitcoin" and we still run for it. Put out a "shit developer with shit idea" and we still promote it if it pays us good money, we still escrow for them if they pay good %.
The forum recently banned ICO advertising. That was the best move in a long time.
We decide what the future of crypto is. We decided what crypto has become.
The reason that I see why people are try to create their own coins are to scam people we all now that many ico project are promissing and in the end turn to scam run the investor (easy money) but stil there a few real project are continue to run and improve there product to know in all over the world.
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