Bitcoin Forum

why people are creating so many crypto currencies and how many of them may sustain?

It's easy to start your own coin right now unfortunately, so there are a lot of them.

if you find out, please message me

Next up is Hamster Coin.

Here's the list of all coins, from "True" to "Dead/Dying"

https://bitcointalk.org/index.php?topic=134179.0 (https://bitcointalk.org/index.php?topic=134179.0)

People are creating them because they can make a bit of money off of them and they are sustained by the people who mine and trade the coins.

Everyone thinks they can do it better

OR

They are just creating a "pump and dump" coin to profit from then forget about.  Rinse and repeat.

Generate money for them selves

Sadly, Its usually the latter.  Before long, they're going to run out of names though... (then Comes Bitcoin 1, Bitcoin 2, etc)

Creating a coin is easy and everyone thinks they can do it better.
95% of all new coins dont get on an exchange and appear to die within a week  :(

Makes me chuckle when they claim their coin is unique or captures a new niche market. Captures nothing; it's just a name. Oh, Weedcoin, it's going to be used to buy weed is it? GTFO lol.

It wasn't that long ago when BBQ Coin was laughed at, but now some of these new coins are starting to take the piss.

I mean a lot of them are pure clones, with a few variables tweaked. I think Max Keiser said that in the future, all cryptos will have their 15 minutes of fame. Ultimately though these coins just allow the creators to trade them for BTC - which is what they *really* care about. Well, I guess you could argue that fiat is what they currently care about.

I know exactly what you mean. I feel like a veteran and I've only been here a month, and I'm flummoxed by all these crapcoins with their crappy names that people jump on. I couldn't fathom why people would deal in BBQcoin, but apparently people love crappy or gimmicky names regardless of what the coin actually offers.

Everyone can make their ownstAnd it seems there is money making business in starting one :)

Recently there are many new cryptocurrencies. I think this positive phenomenon because the competition never will be superfluous. Together with new cryptocurrencies there are also new technical solutions.

There are services that will even build coins for you (such as http://coinbuilder.info (http://coinbuilder.info). Being able to program was effectively the sole the barrier to entry to being able to make a coin, and is no longer the case.

Quite obviously they do because they currently can. We are hoping people will get bored soon tho as most of them start dying off.

just a theory

https://bitcointalk.org/index.php?topic=406515.0

There's far too many of them. Only a couple will survive the rest will die some probably within a  couple weeks of launch.

True that, but that doesn't make it less fun  8)

Because everyone wants to make some money with the BTC craze.