Why is there an increased number of newbies wanting to create a new altcoin?

[Herbert2020]

recently i keep seeing new people, having no knowledge of what counts, wanting to start a new cryptocurrency (an altcoin) of their own.
these people that i am talking about
have little to no knowledge of programming.
have no knowledge of cryptography.
have no knowledge of economics.
and more importantly they have zero experience.

so why do they want to create a new altcoin? is this market turning into such a crappy place that they can make their own altcoin and list it somewhere to even be exchanged against bitcoin?!

my theory is that it is mostly the fault of crappy exchanges such as yobit that list literary anything on their exchange allowing these types of altcoin to live.

[falala69]

If I could say it all in one phrase: easy money without working hard. 

There are several ways to achive that phrase

• Dump the premine
• Run away after getting ICO/IPO money
• Etc

[Herbert2020]

If I could say it all in one phrase: easy money without working hard. 

There are several ways to achive that phrase

• Dump the premine
• Run away after getting ICO/IPO money
• Etc

that's the thing though. they can't make money!
what you say works for those who have created at least one altcoin before or done the same scam on 2 different ones before.
someone who i described in my OP has no idea what he is doing, someone who doesn't even know how to fork can not ask for ICO, and be sure that he will mess up the premine and price will be 1 satoshi even before hitting the exchange.

[Spoetnik]

Trail is probably from MLM coin guys who see their coin is falling apart and then show up here wanting to be the top dog in their own coin scam..

[altcoinrich]

Not only this, there are tons of ico project with high rank members, which scammed more people than newbies' ico. Like opair, ebitz, deCLOUDs, LIR, were notorious scams in last year, their OP were all senior or even legendary members.

[addias]

I can see a few reasons:
They were late to Alt-Coin space
Unrealistic expectations /dreamer
Thinks their idea has not been thought of before

[JeffBrad12]

Not only this, there are tons of ico project with high rank members, which scammed more people than newbies' ico. Like opair, ebitz, deCLOUDs, LIR, were notorious scams in last year, their OP were all senior or even legendary members.

Those were fuckin bought account, we are need deep doing a deep analyze for every ico. But some of the people are already getting awareness about such scam ico. but no one cares.
Too many newbies are interesting in ico with the easiest way to grab some of the money and run away.

[Edraket31]

Simply to earn money, let us just give them the chance, we all wanted in life is to become successful. They've been noticing and searching that cryptocurrency is one of the most booming industry now, we cannot blame them if they wanted to be part of this successful venture. Let us just see how they will handle this.

[agustina2]

recently i keep seeing new people, having no knowledge of what counts, wanting to start a new cryptocurrency (an altcoin) of their own.
these people that i am talking about
have little to no knowledge of programming.
have no knowledge of cryptography.
have no knowledge of economics.
and more importantly they have zero experience.

so why do they want to create a new altcoin? is this market turning into such a crappy place that they can make their own altcoin and list it somewhere to even be exchanged against bitcoin?!

my theory is that it is mostly the fault of crappy exchanges such as yobit that list literary anything on their exchange allowing these types of altcoin to live.

I will assumed they just hide in their real accout so that someone can guide them properly and step by step on how to create their own coins. In that way, they can freely asked a newbie question.

All this shit plan are just meant for profit purposes. Since the birth of an alt, it was only made to take profit because they want to follow the price path that bitcoin was passed without realizing that bitcoin is not only meant for profit but for usage.

[BTCLovingDude]

it is the illusion of getting rich quick and overnight that newbies have with cryptocurrencies. it has always been there and it usually changes form. so far it was like this: they bought 0.1 bitcoin, and waited to become millionaires after a week they became cold.

then they started thinking sine bitcoin has gone up from 1 cent to 1000 dollar we should invest in an altcoin that is 1 cent and hold it to make 1000 dollar (become millionaire) then they bought 0.1BTC worth of altcoins waiting to become millionaires, again after a week they became cold.

and now after a couple of years they have seen lots of scammers and devs who became millionaires by dumping their ICO (eg ether dev) so they think money is in making a new altcoin.

and the story continues.

[Febo]

recently i keep seeing new people, having no knowledge of what counts, wanting to start a new cryptocurrency (an altcoin) of their own.
these people that i am talking about
have little to no knowledge of programming.
have no knowledge of cryptography.
have no knowledge of economics.
and more importantly they have zero experience.

so why do they want to create a new altcoin? is this market turning into such a crappy place that they can make their own altcoin and list it somewhere to even be exchanged against bitcoin?!

my theory is that it is mostly the fault of crappy exchanges such as yobit that list literary anything on their exchange allowing these types of altcoin to live.

Mostly they have a project that they plan to found by ICO. Well I dont know if that is the case of most but at least the ones i looked at. They ofcourse have never before posted on this forum, since have little interest in crypt. Usually have teams each responsible for something. If they issued an asset on an asset platform then they dont really need much cryptographic knowledge. In their team should have people with programming and economic skills Or their project will fail.

[GreenBits]

it is the illusion of getting rich quick and overnight that newbies have with cryptocurrencies. it has always been there and it usually changes form. so far it was like this: they bought 0.1 bitcoin, and waited to become millionaires after a week they became cold.

then they started thinking sine bitcoin has gone up from 1 cent to 1000 dollar we should invest in an altcoin that is 1 cent and hold it to make 1000 dollar (become millionaire) then they bought 0.1BTC worth of altcoins waiting to become millionaires, again after a week they became cold.

and now after a couple of years they have seen lots of scammers and devs who became millionaires by dumping their ICO (eg ether dev) so they think money is in making a new altcoin.

and the story continues.

Im think they dreaming to make a new altcoin and benefit it.They didn't know that its hard to run a successful project you need more team or even companions that help you to run the newly make altcoin by you.

[allthingsluxury]

They are hoping to "get rich quick", pump and dump.

[jaberwock]

they try to earn some easy money by making useless coins that will be worth nothing in the long run, but may give them some money while people keep bumping it, or they just are outright scams that will take people`s money and will not deliver anything

they use newbie accounts so their reputation and trust won`t be , they just will abandon the old newbie account and will go to create another

[realm]

well after all these successful icos which gathered millions, people get the feeling that there is plenty of money in the altcoin business. So wouldn't it be nice to have you own coin with a premine of 4% let it get listed in a shity exchange, wait for a decent volume and then cash out your coins?

[ethereumhunter]

i see the probability to make big money is wide open for new altcoin because before we launch the coins, we make the ico to attract investor to join with us. and i think this is the reason for many newbies wants to create a new altcoin. but without a good effort and hard work, that coins will not stay too long and maybe after the ico is finished, the coins is getting died too like we seen before.

[NattyLiteCoin]

When I first got into Bitcoin in 2013, I was extremely excited about creating some sort of presence in the crypto space. I reached out to all of my friends that were CS grads and asked all of them if they knew anything about it or wanted to explore start up projects. This was the time in which you could pull off a quality coin project and potentially emerge as a viable token platform. Unfortunately, most of the folks around here are so jaded by all the same old bullshit, that a newcomers youthful enthusiasm is immediately dismissed as a scam or fucking worthless..

The crypto space is still in its infancy, and there is still large complex to house great ideas. It's just extremely difficult to impress the peanut gallery here and sensitive people's ideas are generally lost.

[Piston Honda]

easy cheap shitcoisn with premine to dump and make fast money

simple

[tyz]

There was a huge media coverage about the passing of the $1000 mark of Bitcoin some weeks ago. This attracts many new venturers for the crypto currency world. They think they could get rich quickly just by creating a own alt.  From time to time, I get messages from absolute newbies for asking me if I have experience in creating an altcoin.

[CraigWrightBTC]

I think they are traders altcoins who losing money in it,
then they try building altcoins projects to looking for profit with it.
They are trying become scam altcoins developer although
they don't know anything about digital coins.