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Author Topic: Why people try to create their own coins?  (Read 10893 times)
Boysisig207608
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November 15, 2018, 04:00:21 PM
 #1761

I think the reason why people try to create their own coins is that they hope to imitate the achievements of bitcoin but most of the coins that being created right now doesn't have any impact towards our every day life moreover they are just being created just to rob the money of its investors and soon after that it will just be abandoned and it will soon become as a garbage coin.
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blu.storm
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November 15, 2018, 04:13:25 PM
 #1762

there are several reasons why people create their own coin for example for vanity or to have fast money or why not to make an own ico, finance a project, an idea however there is space for everyone in this market, is very vast
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November 15, 2018, 04:19:41 PM
 #1763

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin
lol Im agree with you but they do that because they have their own purpose, which is to expect the tokens they create can be very valuable in the future along with the progress of the projects they make. Then we as investors can only hope for the best for ICO projects that we trust.
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November 15, 2018, 04:20:59 PM
 #1764

In 2017, people started a lot of different ico to simply raise money, there was a lot of fraud when there was a HYIP and people invested money without even realizing where. Now only really powerful projects with a cool team are creating and collecting money.
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November 15, 2018, 09:10:59 PM
 #1765

Many people have always sought for fame and recognition)) I think the creators of new coins, it seems that it is their coin that will win recognition from crypto enthusiasts and make its creator a millionaire)) most people are driven by ambitions and only a few create new, interesting contracts or coins just because that this experience is interesting to them

What projects are you talking about? You consider all the projects to be a fraud! Maybe, that's a pessimistic view, but only partially. Personally, I know many good projects which I trust!

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November 15, 2018, 10:40:19 PM
 #1766

They spend their time and a lot of resources in order to collect money from people who do not see true projects and then after buying tokens people are left with nothing and the developers of tokens take real money  Grin

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November 15, 2018, 11:38:25 PM
 #1767

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin

People tend to create coins in order to make money and be famous, thats all they want, but others say that they wanna use their talents in coding and blockchain technology, there is nothing wrong in this moves, but it also creates opportunity for some people to make money and it can help the community, the bad side of this one is that it drives the emotion of a person to take the opportunity to scam and be greedy to money.

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November 15, 2018, 11:41:27 PM
 #1768

Because relatively to do this does not require a lot of effort and surely they capture a couple of fools who do not realize that it is simply a plagiarism, if what they do is copy and paste then the next step is to take care of certain details, change the name of their tokens and be ready to go, you have a new shitcoin listed to defraud the unsuspecting in the market.
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November 16, 2018, 11:54:48 PM
 #1769

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin
One reason is 'Money' most of us want to rich in different ways, maybe this is the idea of those people to become quick money income thats why they make thier own coin.
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November 17, 2018, 01:18:11 AM
 #1770

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin
Those people have their own perspective about their own token. And every token has a target or mission thats why investirs are choosing which ICO has the great mission and that has a big possibility to succeed. Creating a tokens is not a waste of time unless you create a really coin that has no target at all or any mission at all.

My opinion same with you. Some token maybe have similiar project but maybe the developers creating a new feature and thats the reason the creating a new token. Developers must be have a target to reach before creating a token and i think its good because creating competition in market

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November 17, 2018, 02:42:14 AM
 #1771

Maybe they want to create something new, so they create a new coin, of course it's a good idea to create their own coins which will be an opportunity to be able to get results in the future

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dumplingsandsushi
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November 17, 2018, 02:45:27 AM
 #1772

I actually don't mind that there are so many coins.
After all, blockchain tech is decentralized and open source, so anyone can take it or fork it.
Having so many coins just goes to show that satoshi's vision works.

Of course, it is annoying and also bad for the market when a company just tries to make a quick buck by copying something else.
But these are typically short lived and lose steam very fast, especially as the market matures.

When crypto was in it's baby stages, there were actually a lot of techies who went and created their own coins.
This is where some of the best joke coins came from, stuff like nyancoin and doge.
But it also paved the way for people experimenting with more things like increased privacy and other features.

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November 17, 2018, 02:55:47 AM
 #1773

Obviously, creating coins can make money, and because using ERC-20 to create coins is very simple, and many fraudsters are using it now!

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Gromx
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November 17, 2018, 12:49:36 PM
 #1774

I actually don't mind that there are so many coins.
After all, blockchain tech is decentralized and open source, so anyone can take it or fork it.
Having so many coins just goes to show that satoshi's vision works.

Of course, it is annoying and also bad for the market when a company just tries to make a quick buck by copying something else.
But these are typically short lived and lose steam very fast, especially as the market matures.

When crypto was in it's baby stages, there were actually a lot of techies who went and created their own coins.
This is where some of the best joke coins came from, stuff like nyancoin and doge.
But it also paved the way for people experimenting with more things like increased privacy and other features.
Now the market is different and fraudulent and empty projects it has no place.Competition is increasing.Will have the price of the product which in spite of its capitalization and overall market conditions will continue to evolve and improve, not matter what.
MAXE
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November 18, 2018, 12:18:30 AM
 #1775

Why not? After all, it is very simple and easy.
I think it's a cool idea to turn your life into coins and pay with them.
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