Why people try to create their own coins?

[lekam0213]

Maybe they want to get profit from it. Also, be known like Bitcoin and other known altcoins now a days but some are just waste of time because they are not legit so better careful on that

[junjunsalsalani]

I bought mine a long time ago,with its price right now i can say that this coin made me a millionaire already.

[naidray]

becuase now a days creating coins is very easy and these get dumped on the exchanges by the dev team the very first day and earn the money, so basically money is the centre thing for all these organised crimes

That is why there are so many shitcoins out there. The Ethereum network made it so possible for someone to come into the crypto space, create a coin, give it some idea they think could fly and even if it has been in the market, see how they can make it work, and then over throw the available one or tweak some little things that would make it different.

It is the world and that is how it is. Just like we have companies normally and the competition is huge, is the same way we have most of those coins.

[yen10]

It really depends on the person or group of persons that develop the coin. Some have a really promising program while others are just want to gather some funds for their personal gain. After they got the money, they just ran away with the money. But there are also people who are genuinely interested in developing a certain coin for a specific reason. There are also people who are just want to go with the flow or current trends without even understanding what they are doing.

[hiwainmoto]

Thats is because their greediness push them to create coins to get big profits from it,its a human nature.

[Alex_nutis]

Because everyone who is in the topic of crypto currency and has the money wants to make money on the ICO. And investors are fools, they bring money to all the shit tokens. There are really worthwhile projects behind which there is real technology, but most of it is junk.

[cryptocrocs]

They are creating new coins because of the profits that they can have if it is a successful coin,its all about the money.

[darkr]

Many people just want to make money in easy way and do not even think about the original idea. Now you can see a lot of useless coins in which there will be no future. Without the regulation of the ICO, you can not get rid of so many unnecessary coins.
         

[Carmen01]

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

your right about copy,many coins and it can be waste of time but think if you do a transaction here they earn by that so that's why they create a coin for their own good.All you need if you want to create a new coin is big money like the creator of bitcoin.He or She is billionaire now because there's a lot of transaction day by day around the world so the earnings is non stop.It's like gambling because you need a big money to take a risk to earn so it so risky but think if they enjoys your coins like gambling the fees there is so big so your earnings is big also

[finaleshot2016]

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

Because they have different aspects and different goals. We all know that altcoin will help our society for its projects. They create their own token/coin for their specific category. For example, will you invest into an real estate ICO rather than investing into a gambiling esports site even you're a gamer.

[coinplus]

It is not wasting time at all. The reason why people are creating their own coins is simply because they wanted to generate profit out of it. Just like any business models, if what is in demand, it is the interest of business proprietors.

Yes, but it is only unfortunate that most of them do not always have good intentions and which is why I do not even bother investing in any coin as long as they do not have a product and if eventually after their ICO, they eventually end up having a product, then I can decide to get in because that is the main essence.

Without the product, most of them will end up shitty anyway because it is going to be a tough market and what use would it be trying to do something that another coin at the top is already doing better with a lot of recognition.

[luffare]

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

In my humble opinion the only reason of making your own cryptocurrency is to earn money in 99.9% of cases. And only 0.01 percent of developers have really an interesting idea which they will to realize in their coin.

[Irvinn]

Own coins are created for various reasons. The most desired and necessary reason for us is the realization of a good project, a good idea, in which the token is produced for work in some specific, narrow branch of our management. Such tokens improve our life, making it comfortable and comfortable. A significant part of the tokens is produced in the course of

[myhoho]

There are 2 reasons to create own coin.
First one is to establish planned projects they have to fund the project. Also this reason includes tokenising the ongoing business model .
other reason is known by every one. Its simply fast and free money.

[Welckomtome]

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

It's simple - it's marketing and earning money from the air. Copied the idea made a good advertisement and all the money in your pocket

[qazgroup]

It is badically business and money making process, you see almost all icos raise good amount of funds which was otherwise difficult to acquire, so yes icos are giving some bad guys to get quick money as well, so we have to be careful and choose the best.

[shone08]

The reason that I see why people are try to create their own coins are to scam people we all now that many ico project are promissing and in the end turn to scam run the investor (easy money) but stil there a few real project are continue to run and improve there product to know in all over the world.

[leea-1334]

becuase now a days creating coins is very easy and these get dumped on the exchanges by the dev team the very first day and earn the money, so basically money is the centre thing for all these organised crimes

That is why there are so many shitcoins out there. The Ethereum network made it so possible for someone to come into the crypto space, create a coin, give it some idea they think could fly and even if it has been in the market, see how they can make it work, and then over throw the available one or tweak some little things that would make it different.

It is the world and that is how it is. Just like we have companies normally and the competition is huge, is the same way we have most of those coins.

That is true, but dig deeper and the systemic problem is us, the community. If we take a look at ourselves, we see a distinct lack of ideology behind our motivations for cryptocurrency. A lack of principles, a lack of good sense, and this transfers over to the communities we support and the developers behind those. Put out a "shitcoin" and we still run for it. Put out a "shit developer with shit idea" and we still promote it if it pays us good money, we still escrow for them if they pay good %.

The forum recently banned ICO advertising. That was the best move in a long time.

We decide what the future of crypto is. We decided what crypto has become.

[Snub]

maybe some people see and feel that they can create something better and worthwhile...some get it

[SandaraPark]

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

People try to create their own coins for marketing and to develop their own business. These people are called developers and they need to promote their platform. As other people support them, developers would earn more profit.