Bitcoin Forum

As being new here in the world of crypto I want to ask something.  We all knows that the great crypto now a days is bitcoin but my question is if bitcoin is the mother of all coins, do you think what is the reason why many people in the world make thier own coins and now there are many altcoin?

Anyone knows who is the creator of ethereum and what is the purpose of ethereum in the crypto world?

Bitcoin is important because it was the first widely distributed cryptocurrency and most exchanges use it as the base currency for their exchange.
Founder of ethereum foundation is Vitalik Buterin. You can easily find lots of information about him by simply googling his name.

ETH is block chain 2.0, which creates smart contracts, and smart contracts are a good application of blockchain.
Other altcoins now look more like hype than anything else.

The only reason why people create coins is because bitcoin today has the most expensive pricing in the cryptomarket since Bitcoin is mother of all cryptocurrencies. For Ethereum on the other side is the close sister of Bitcoin since it is more efficient in transaction speeds and blockchain management.

First of all I think Bitcoin is not the mother of all coins, it is more like the King of all coins. It heavily impacts the prices of other coins.
 
Secondly the reason there are so many coins, is simply because it is much more easier to create them compared to the early days of crypto. Specifically Ethereum has facilitated this growth and now basically anyone with some blockchain and IT knowledge can create their own tokens. And some tools make it even more easier.

Vitalik Buterin is the creator of Ethereum. He used to be active on Bitcointalk also, but that is few years ago. As per him he decided to co-create Ethereum after World of Warcraft (a game) took some abilities from his game character. He basically wanted to create a more decentralized  environment, where the rules can't be changed just whenever the creator wants to.
In simple words, Bitcoin only enabled the transfer of funds and Ethereum enabled the transfer of smart contracts along with funds. This basically meant that you can create complex applications on top of thereum which can't be controlled by 1 single entity. These are now known as Dapps that is decentralized apps. Some popular Dapps are cryptokitties, Cent, Lunyr etc.

Since you are new, I explained in very simple terms, but you can always research more if you want to increase your knowledge. It might seem very very complex at first, but you start getting it after consistent efforts. Good luck!

Thanks for that great information, I'm curious on the purpose of ethereum and why ethereum  created. Many people here in the crypto world  said that they got rich because of altcoins or ethereum in many ways like, trading and a like, ethereum is great so, we must to know who is the creator of ethereum to acknowledged him to our success.

Thanks for giving very helful advised, yes I want to gathered more and more information about the crypto world that is why I made this thread to gathered information to help my self.

   If you wish to properly gather information's you need to read more and more. There are
many threads here of forum where you can read about interesting things in crypto-world.
   Siddhartha1492 gave you simple explanation about how Ethereum works as a
platform for creating new tokens. Why there are so many of them can also be explained by
a need for coins cause there will be just 21 million Bitcoins, that is not enough for the world.
In that need for more coins platforms like Ethereum gave us smart contracts, now companies
can have their own coin for their own business.
   If you really wish to help yourself and learn more about crypto- currencies I suggest you to visit
their official sites and read there what they do and what they plan, only after come here and check
are other people support that and how they look at that project. It is good to know what community
thinks and to check some expert insights.

You want to know about the answer of your question? the answer is because they want to earn money quickly.

Some of them are ambitious and want to make a name for themselves by creating their own coin. Rest of them are just trying to make money quickly.

Companies were making their own coins even before bitcoin. They weren't mineable  crypto coins but they were still coins. The most common example is your Steam balance. You can't convert your steam balance directly to USD (1:1) but you can do it if you sell your account to some other people. (He'll probably pay less than what you have in your balance)

Paypal balance is the same.

Now every company like these I mentioned have a chance to print their own coins. They can adjust the specs according to their needs. (Mineable? Pegged to USD? Premined?)

Imagine Pepsi Cola prints its own coins and sells its product for 5 Pepsi Coins and nothing else. What would be the price of a 1 Pepsi Coin? *0.2 Pepsi Cola :)*

More coins isn't something you should be scared of. Bitcoin is the king and any altcoin you see is backed by Bitcoin at this point. Why? Because when bitcoin goes down, they go down. Everybody who hold altcoins/mine altcoins do expect to get more bitcoins in return.

Ethereum are created in the crypto world for the ICO can use this for transactions in an exchanges. This ethereum is being used as payment to any altcoins and tokens given by the ICO as a reward. After selling your altcoins and you have already an ethereum, then you can convert it to bitcoin and then from bitcoin to cash. That is how i understand the ethereum process.

Vitalik Buterin is the creator of ETH also the need for ALT coins are because BTC is expensive so that's my opinion

Ethereum's cretor is Vitalik Buterin, a russian programmer who developed smart contacts. These contracts is what Ethereum is famous for and so widely used as a platform.

Here's the Ann thread of the ETH https://bitcointalk.org/index.php?topic=428589 The co-founder of the ETH is Vitalik Buterin you can check his profile here on the bitcointalk or just do a google search to find more.
One the reason why more people are creating their own coins, blockchains and tokens is because of its usage and functions, we all know bitcoin is the number one coin and the father of all cryptocurrency but its features are limited added by its own problem over the transactions and scaling, that's why they're filling its hole by creating another coin for their own platforms or usages but some of them creates coins just to scam people or to fill their pockets with more money.

They just follow suit with the technology. There are other usecases for the altcoins. Some popular altcoins are used to make ICOs and some are privacy coins and etc.

Just cause there is Google or Amazon or Facebook doesn't means that people should stop creating their alternatives. Alternatives are good as they increase competition and prevent monopolies. The more competition there is the more innovation it is going to create in the crypto space.
Secondly, Ethereum is a platform for decentralized applications and tokens on which developers can develop using the Solidity language.

Bitcoin is the first decentralized cryptocurrency (check link below). In other words, it is the pioneer and now the leading coin in the market.

https://en.m.wikipedia.org/wiki/Cryptocurrency

About Ethereum and its creator, click link below.

https://en.m.wikipedia.org/wiki/Ethereum

Many individuals and entities today are into creating their own cryptocurrency simply because they wanna earn big via the "Initial Coin Offering" or more commonly known as ICO.

I can say more than 70% altcoins in the crypto market is a tokenization from every foundation or companies. But that doesn't mean if that was backed by asset or other.
Since the crypto was started from the open source code and there is a lot of people were trying to take an advantage from there through create their own crypto to attract buyers and they get money instantly.

they make their own coin to use it on different purposes. and also to add another coin in the market to circulate.

I dont know who is the creator of ethereu, but whoever he is, he is so amazing that every altcoins made are based on erc20.

Bitcoin is the first big project that could attract real investments and show that the technology is fully operational.   

Altcoins are made from different purposes and objectives. There are many companies that created these projects for them to grab the opportunity to join the train.

Bitcoin is like US Dollars in crypto world, widely accepted and base for other currencies to be pegged.

Altcoins are like Yen, CHF, Euro etc which are pegged to bitcoin  although each of them have a separate function in their own country.

PS: you may like to edit your thread subject.

they create altcoin because they know the altcoin prospect is very good. on the other hand the total supply of bitcoin is very low and bitcoin becomes expensive. now altcoin can be an alternative trading dnegan low prices and may be expensive so altcoin useful for traders.

To test their abilities and intellect thats why they created another coin. They would feel so good if their creations would be successful. Satisfaction as what it is. In terms of etherium, You have a net connection their so for sure you can google it.

BIT COIN IS MOTHER OF ALL COINS BUT ITS MINING IS GETTING HARDER DAY BY DAY PLUS OTHER ALTCOINS ARE RUNNING BLOCKCHAIN BASED PROJECTS WHICH THEY CANT DO WITH BITCOIN SINCE ITS SO EXPENSIVE

People think that you can create a fork bitcoin, come up with a name and logo, make ICO and get rich, while others think that you can buy tokens on ICO and also get rich

sure bitcoin is leader of crypto, but investors in the world find more than bitcoin be cause profit from bitcoin is not maximal again like 2years ago, and now altcoins have potential to get PROFIT more than bitcoin, thats why so many altcoins, and i dont know who is the creator of eth but eth exist to make choice your alternatif coin from bitcoin

 For me Bitcoin is not the mother of all coins but the king of all digital currency in the  crypto world. There are many reason why people are making their own coins but the main reason is they want to earn money from that way, so their are trying to make their own coins.

Putting aside ethereum and such few projects, most coins were created to fund the projects, they don't necessarily need a token and also most for just scam not even to create a project.

In some ways, it will be difficult to build the similarities betwen bitcoin as tool of payement and other altcoins (ex:ethereum) where the only similaritiy will be that they are both cryptographic codes. Ethereum functions are based on smart contracts in the ethereum virtual machine where anybody or entity can build a DApps (Decentralized Applications) and provide solutions.

because bitcoin is more widely distributed coin without bitcoin no one can transaction through any another coin. bitcoin more trustful and one thing every individual coin has it's own object and speciality. so that in cryptoworld there are so many coins are established.

It is a big project but Bitcoin could just not want to work anymore then the price could go lower. I feel that if the prices goes down that much, people will not use Bitcoin or crypto.

Of course, bitcoin is the father of all crypto-currencies and everything started from him. I think that there are many reasons why many people in the world create their own coins. For example, ambition, wealth, fame and the desire for new technologies