What is the point of creating a cryptocurrency?

[bitcoinmaniac52]

I am considering to create a cryptocurrency, however, let's say we do a successful airdrop and 10,000 people have our token. How do we build an infrastructure so they can use them? I don't understand what the point is when 99% of cryptos have zero purpose (including the most popular ones). For example, Litecoin is accepted almost no where. Why does anyone even want it?

[1715103544]

1715103544

[aleksej996]

Bitcoin isn't a bubble, but most of these altcoins are.
Some people just hope that their altcoin that may or may not have a certain improvement will be able to compete with an already established cryptocurrency like Bitcoin. The point is that if you want to have something that competes with an established system, it needs to be a multiple times better, not just have a possible improvement in a single field.

[machiavelli]

Different features for different currencies.

[dominicx@vieR198]

I am considering to create a cryptocurrency, however, let's say we do a successful airdrop and 10,000 people have our token. How do we build an infrastructure so they can use them? I don't understand what the point is when 99% of cryptos have zero purpose (including the most popular ones). For example, Litecoin is accepted almost no where. Why does anyone even want it?

it has very good features. money we have to see because it is visible but bit coins are not like that. and we have to transfer one person to another person bit coins and buying selling can also do with bit coins. so bit coins has good future. and its value increasing day by day. who can think different their future like that people may can easily understand what is crypto currency and it's usage.

[bob123]

There are already Tons of altcoins on the Market. If your coin is mostly copy/Paste from another coin its pretty senseless to bring it Out.
98%+ are useless and nothing Worth.
You need to fullfill a Lot of consumers wishes with your coin to make t widely accepted.

[Auralea]

In my opinion there is absolutely 0 purpose for most of the crypto's out there. I heard 98%/99%, I'd say it is higher. If your coin is a means of transacting value in a network, why not build the network and use BTC/ETH? There are very few legitimate goals for new crypto assets or currencies besides of course fundamentally improving on the technical aspects of BTC/LTC/ETH etc. I am very interested in your own idea for a currency, would you like to share it with us? I would be open to lend an open mind. PM me if you do not want to make your idea public but would still like an extra mindhand ^^

Sorry for the slight offtopic, I still hope you can get something out of my response

[Qunenin]

I am considering to create a cryptocurrency, however, let's say we do a successful airdrop and 10,000 people have our token. How do we build an infrastructure so they can use them? I don't understand what the point is when 99% of cryptos have zero purpose (including the most popular ones). For example, Litecoin is accepted almost no where. Why does anyone even want it?

There have always been legit reasons to do this, but they have rarely been used. Charity and donation collection, a coin that supports a specific cause is nice, but abused. Private organizations can use a coin, but that is barely touched. Specific assets for games and apps is touched a little, but hard to control the scams. The biggest reasons would be the implementation of new tech, new algos and new reward structures.

[salmanahmedone]

I am considering to create a cryptocurrency, however, let's say we do a successful airdrop and 10,000 people have our token. How do we build an infrastructure so they can use them? I don't understand what the point is when 99% of cryptos have zero purpose (including the most popular ones). For example, Litecoin is accepted almost no where. Why does anyone even want it?

There have always been legit reasons to do this, but they have rarely been used. Charity and donation collection, a coin that supports a specific cause is nice, but abused. Private organizations can use a coin, but that is barely touched. Specific assets for games and apps is touched a little, but hard to control the scams. The biggest reasons would be the implementation of new tech, new algos and new reward structures.

That happens pretty often, but the process gets lost in the mis-trust and the fact that these devs do not have the business help and support and may produce great code, but lack the knowledge to get support behind it.

[Zocadas]

What? Litecoin is accepted almost nowhere? Have a look on coinmarketcap and you see, where Litecoin is accepted.
If you are developing a new coin, you should have a good project behind, place it on as many exchangers as possible and allow decentralized wallets or create a token on ETH so that you reach all OS, also the mobile.
Almost all wellknown alts, I have watched for years, have continuus uptrends for example Dash, Doge, ETH, Monero and even Curecoin and Gridcoin.

[Xylber]

All of this "money" has no value, not even the dollars in your pocket.
You can ask a goverment to legalize your currency (like FED did with USA), or, more realistically for us, you can create a service which accepts only your cryptocurrency, for example, a gambling website.

[daserpent]

The point should not be to build a cyptocurrency per say.

You should aim at build an app or business where instead of accepting fiat currencies, you accept a crypto (that you made).

If the business has a big demand, your currency naturally rises in value overtime.

[yojodojo21]

Every Crypto Currency Coin Has it's different availability in wallets,
I Mean Creating A new crypto Currency must Be Flexible, Can Transact into Different Wallets,
And First of All Convertable to Any kinds of Coins.
And, Must Also Be Volatile.

If you Will Make A new Crypto Currency you Should Also Hire Great Persons That is Professional in The World of Crypto Currency.

[valucash]

first identify the problem you are trying to solve by coming up with a cryptocurrency, then innovatively build a community of users around it.

[BenOnceAgain]

A coin with no use is just a useless coin.  Not worth the paper it's printed on (or its digital analog).  Did I just say digital analog?  Lol.

Nearly all of the altcoins are just clones of a few core projects.  Few bring much to the table.

However, there are a few interesting concepts I follow.  They can be looked at as "laboratories of ideas".  Some of the ideas will bring crypto forward -- with technological innovation, project innovation, organizational structure concepts, etc.  Most, however, will be dead ends.  Such is the nature of any competitive environment.

[muncuss]

To be widely used, cryptocurrency must be like real currency/fiat. Cheap transaction fee, fast and less volatile, that is important.
Example, dogecoin has no purpose. But here, crypto community in my country use it for buying internet data, or other online transaction (even like buying notebook). It is widely accepted here because it is fast, and cheap. Second to bitcoin in usage
Those new cryptocurrencies have good purpose or good tech but forget to create suitable system for real usage. The tech is only good for crypto world

[farfanx4]

If you don t have a greater goal and a special think about you coin there is no good point in creating one.

[rayymat]

you just dont need to create a currency , but a great foundation stone and a team

[equator]

I am considering to create a cryptocurrency, however, let's say we do a successful airdrop and 10,000 people have our token. How do we build an infrastructure so they can use them? I don't understand what the point is when 99% of cryptos have zero purpose (including the most popular ones). For example, Litecoin is accepted almost no where. Why does anyone even want it?

Litecoin is used in gambling, which is most effective way of getting the coin usable, so same way all coin have their own goal but most developer come with new idea and create the coin but when it get good investment they start to think of just runaway. but some of them are really working hard to make their project to reality and they are using the invested fund reasonably

[bitcoworld]

Its a huuuuuge coding work for sure...
I heard its 2x more work to make a cc then a completly new
script like evolution so its a nearly endles task....

[bitcoinmaniac52]

Its a huuuuuge coding work for sure...
I heard its 2x more work to make a cc then a completly new
script like evolution so its a nearly endles task....

Why does it take 2x work? In that case I would make a new coin.