Bitcoin Forum

Been Asking Myself must all Project create its own coin or is it a thing of pride this day to say I have my own coin

come to think of it some project finds it hard to be able to get there coin to any value because thousand of projects are coming up by the day people literally get confused on which to choose.

There is project out there already doing well with one thing still lacking real use of the coin in the real world daily activities that mean -
most coins are just traded as an asset!!

I think some project can just implement its solution and using the already existing cryptos as currencies by that way helping adoption.
the hassle of creating from the scratch to me is not all necessary for some project!!

if you looking at the mode of payment for your service you can simply accept already existing coin and go into a partnership with them
create a system to see that crypto have a healthy growth cycle not just having millions of project and at the end millions of dead project

better the whole system creates like a support system to retain its value for the long run... Long Live Crypto

what you all think

Yeap if follow ico project .they claim they can solve a specific problem with their unique coin

I would prefer all crypto projects to use Ethereum,
Bitcoin and Litecoin. Most projects that release
a coin is a get quick rich scheme for the owners
and investors  :) Only few are actually worth and
need the coin

you solve problems with technologies, not coins! they can still use the other existing tokens and still solve problems

You get my points!! but if they can actually have a rigorous process before one can offer tokens it will make it tough for shit tokens to exist

if crypto project without coin it should not be crypto project :-X

well having your own money, gives you the ability to pay others to do something for you.

creating your own money is cheap and riskfree. while working for money is risky.

Don't think so, it uses crypto that can still categorize it as one

I understand that Just saying some project could relatively be more in a relationship with an Altcoin already existing to bring about use cases
if you insist to have your own currency there should be a way to track down the necessity

It all depends on the objectives
The creation of tokens by projects is to ensure they can have lots of liquids to be able to enable operations
Am sure there are ways to work things out

People have to be able to understand the economics

the early stage, while one is trying to still understand a crypto project 5 or 10 more, is birth
prediction still shows lots of this project will eventually die off

I have thought over this sad development too and each time I do what comes to mind is the proliferation of churches. Each priest breaking away to "stand" of their own so as to be in total control of the money that comes into the congregation (of course, the priests will deny this). It's the same way with the proliferation of cryptos. The devs want to be in control of funds, and in most cases there aren't even genuine cryptos getting established (as we have seen with most ICOs). They scam the investors and abscond with funds. This is pure greed the way I see it.

Most project tokens are ERC20 related so they are sort of in a way helping Ethereum by creating own token on Eth platform. I'm more of a Ethereum Classic user and ETC hasn't muct adoption yet so I decided to support ETC by creating my tokens on ETC platform. In hope of bringing more awareness to ETC and give others the motive to do the same.

Oftentimes projects may need loads of coins, be it because they are a crypto exchange, or a rewards site of some kind.  Using an already existing cryptocoin means having to spend a handsome buck buying many of said coins.  Unless an existing coin project has no problems joining forces with upcoming projects and thus pitch in some.

Well established statement!! everyone just going after having control but not concentrating on what matters for that project to become successful.
So most project suffers after fundraising TGE, Implementation becomes hard, those who can't fight it finds an exit plan.. there you Dead ICO was invented

Not a bad initiative!!
But do you think any need to create token why not accept ETC as currency for your project?

Some projects require a larger amount of coins, and buying these first may not always be feasible. Especially true if you want to become an exchanger or even a rewards site of sorts.

It is not uncommon for sites to have their own internal points that can be exchanged for perks. Creating your own ERC-20 token / WAVES token / whathever gives the added opportunity of allowing people to buy or sell said points.

Good question.. Best as I can is to say my tokens are paired with ETC on exchange. So that in inself is producing more trading volume for ETC. Which isn't the most important thing and barely making a difference but over time hope it helps ETC marketcap also. One of my tokens is a Proof of Stake token on ETC platform, so it's a PoS in layer 2, secured by layer 1 POW, over all it's still helping support ETC miners in this sense. I guess it all depends all someones project ideas and goals. Greed is a true thing not all projects are alike I do agree too many people are making tokens for the wrong reasons and promising to much. At least I can say for my project and 2 tokens I never had a ICO, I airdropped tokens I left it up to folks to decided if they want to trade.  I haven't even made a ANN yet here or my second token though I will do that soon.

I guess that is a good move as ICOs have been getting some seriously bad rap lately (OneCoin, DropLex, ... )  I plan on announcing a token soon too (thing began among some friends, more details later).  There are plans for an airdrop, and other ways to get free tokens.  Been playing with the idea of also enabling some totally optional ICO if anyone wants large sums, but not sure what approach to use if so...

Very cool man, yeah as long as you don't make promise's you can't keep things shouldn't get out of line. I'd suggest start at a steady but slow pace, then drops updates on everybody when they don't expect them. Some ICO's over hype because funding is needed also they are trying to take a cut right away. I wanted to stay away from that, I want to build my empire from the ground up because I love the chase.. Good luck bro

Some points in this group are not clear
I guess not regulating ICO has been the major problems
Lots of shit happens and know one to moderate them
It’s crazy

Regulation will be the catalyst that gives life to crypto again
for now you need to have people with believe in the project to want to invest

We love to see that happen
Bitcoin was first mined on this day
And now we still mining so progress will happen

I decided that I should create a coin for my investment project as an alternative to shares. It means that you don't have to use a stock exchange to exchange or sell shares if the project takes off. Coins with a strong asset base can be a great investment - it's the ones with no substance or intrinsic value that should be avoided.

You said a good thing, so you will be a fan of STO compared to ICO

I think it will.be better for a project to build the platform to a certain level before asking for going for an ICO that makes it difficult to have shut coins..

Let's all be hopeful that 2019 trust will be built in the crypto space with a better approach for fundraising
and more project solving real-life challenges

It's not just crypto projects, every tech startup is doing an ICO to raise funds because it's the new meme and it is (or was) unregulated.

2018 was a crazy year for bitcoin  ???

You said it is the new MEME ..lol that got me cracking, they really took advantage of it!
they could create a council that just help regulate the ICO space instead of letting anyone with a website do an ICO

It could be a decentralized union who votes to approve any startup for an ICO, that way prevent lots of crappiness 

It depends on the project. Most ICOs seem to have been creations to suck money away from the stupid. There are a few genuine ones that were used to fund new projects, but tokenised securities would be a better option, and are really just a fancy way to issue shares.

My idea is to deposit securities into an investment pool, and to use tokens ( coins ) as a receipt for a share of the pool. This means that all tokens will be asset backed. You don't need any fiat investment, because nobody sensible would keep fiat as a form of wealth preservation.

I think you need to advice some people about the space, because your opinions are smart

Let me ask what will make a project (STO) great investment for you?

That really right there is the problem. The main lack of motivation from me in terms of researching. So many coins pop up everyday that no matter what they bring, you just feel that they're going be lost in the sea of coins. I could find a crypto with an amazing idea, and forget about it in a couple of day, because it's competing in my mind with so many others.

That will be great seen crypto become a market currency but don't think it will be soon

I think that the main reason for creating the coin themselves is a lot of development at Blockchain programming level, on the other hand, if Tokens are made it is easier to create, and they are made with the purpose of raising funds, some use the method of Airdrop and then purchase them or make a deposit to guarantee the withdrawal of the tokens, as they do so as a measure of Secure Investment.

almost all the new projects/icos create their own tokens because they have a very low cost or even zero...

In fact, if you want to quickly make a token, in 5 minutes you get it, because the codes are online, it is very easy to do, I think even a child who manages some computer can create it, that's why many ICOs, have happened to be STO, because it is very easy to access. Of course the algorithm that can be used quickly is ERC-20, which is universal and can be programmed at ease.