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Author Topic: Why people try to create their own coins?  (Read 10893 times)
Crypto Lady
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May 02, 2018, 08:00:36 PM
 #521

The main reason for creating a lot of coins is earnings. I think that the creators of many coins do not care much for the future of their project. They just deceive people. But there are very good developers who really want to improve the life of mankind.

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netil
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May 02, 2018, 08:28:41 PM
 #522

Each coin has it's own ideology and some purpose. Nowadays in conditions of hype and influx of new users, ideology of the coin has been reduced to the conduct of ISO and fundraising. A huge number of projects do not even have a clear documentation, not to mention long-term goals.

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May 03, 2018, 10:27:41 AM
 #523

Just for fun!  Grin Just joking. Think the only reason of making your own ICO is real money in 99,9% of cases
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May 04, 2018, 06:07:27 AM
 #524

There's a lot reason why many people is trying to create their own coin,one major reason is for quick money specially those who run after .But there's some creating their own for a good purpose not only to earn but to bring their coin into crypto in a success level and let it be popular
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May 04, 2018, 06:13:24 AM
 #525

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

Maybe because most of this business tycoon want to follow the path of Bitcoin in which it become the most successful and the most promising crypto currency investment of today but it just happen that they are failed to follow the Bitcoin with their different reasons of failures that is why their coins is not successful to attract investors and become crap.

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May 04, 2018, 07:30:43 AM
 #526

It seems to them that it is easy and simple, and that they are sure to be successful and they will become rich. For fairness, you can remember that Dogecoin (DOGE) was at first only a joke and it was a successful project.

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May 04, 2018, 07:39:59 AM
 #527

Some just want to make money on it, some of them are scammers  Angry
But there are some really good and promising projects. They try to make this world easier and the blockchain helps them in this.
Even there are good projects that do not collect their softcap, and they have to start all over again
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May 04, 2018, 08:45:26 AM
 #528

people create their coins in order to make money, and it's good if they create some useful commodity and do not sell air.

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OSEIBOATENG
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May 04, 2018, 08:49:14 AM
 #529

Most people to my view has seen that this means has created a source of income for others thereby trying to create their own coins which brings about the copy cats. They end either stealing ones ideas or copying them and manipulate it in such a simple way which will be little bi different from theirs but at the long way round they have the same ideas. Greediness has now come into this Crypto business.
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May 04, 2018, 09:08:43 AM
 #530

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin
There are coins behind which projects stand. There is simply a scam created for rapid ennobling
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May 04, 2018, 09:20:49 AM
 #531

There are so many coins, but many of them just a copy of anothers. Why they waste their time for nothing? Grin
What's wrong with that? I've always wanted to be on some sort of bill is shown or at least like something to do with her appearance. The same thing here, Buterin became famous all over the world with ethereum, although ethereum and Buterin are not connected at all. Not to mention Satoshi Nakamoto.

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May 04, 2018, 09:26:27 AM
 #532

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

Are you sure we are talking about nothing? ICOs have become an extremely profitable business and that is why people create coins. Sad as it is, majority of ICOs today are built for the sole purpose of taking people's money with the promise of providing a revolutionary service innovation. Most of the time tho, these ICOs fall short and end up never delivering anything.

People need to get educated and do research before investing.

 
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May 04, 2018, 11:20:07 AM
 #533

A lot of people view creating coins as a means to get a lot of money in a little amount of time. They are the ones that are actually ruining the cryptocurrency market by pushing a bunch of useless and dead end coins into the market which people cannot use outside of trading. There needs to be some kind of regulation on coin creation.
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May 04, 2018, 11:48:22 AM
 #534

There is many reasons, why people are trying to create their own coins. But main of them is money. They are making own coins, because they think it could be successful and they can make money from it. But, not always it happen.
Raist
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May 04, 2018, 11:51:12 AM
 #535

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

That is not time waste - that's unique and fresh experience of issuing your own money. Fed is issuing dollars and Joe issuing pipecoin. That's great. Smiley
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May 04, 2018, 01:25:39 PM
 #536

why they make coins that are useless and valuable? the reason is they want to earn money by making an ICO scam, you can see at this time a lot of ICO scam they just want to get the money then go.
the growing world of crypto makes a handful of people take advantage of the situation by creating coins or ICOs to cheat.

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May 05, 2018, 03:30:24 AM
 #537

People want to repeat another's success, for example bitcoin and etherium. They dream of getting rich quick. I think this is the main reason. Perhaps someone creates new coins for only fun.  Smiley
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May 05, 2018, 03:43:50 AM
 #538

A lot of people view creating coins as a means to get a lot of money in a little amount of time. They are the ones that are actually ruining the cryptocurrency market by pushing a bunch of useless and dead end coins into the market which people cannot use outside of trading. There needs to be some kind of regulation on coin creation.
I agree with you mate, more and more people creates shitcoins without thinking the risks sacrificed by their investors. We need some kind of regulation as well as more scrutinized security whem implementing a new project. There are bunch of sjitcoins out there wherein the developers  hit and run
Carrying others pockets. Maybe should we involve SEC like organization in crypto in dealing with this kind of problem?

 
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May 05, 2018, 03:53:17 AM
 #539

because if they create their own coin they can become rich and they too can become bourgeois. they are no longer users but they are creators.
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May 05, 2018, 05:42:16 AM
 #540

The purpose of making tokens is very clear, collecting money. Some to run the project as planned, some for their own benefit. What are your goals here? do you feel wasting your time here?
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