Why people try to create their own coins?

[moni44]

they making money obviously, make they own ICO and new coin is the reason to invite people join they project or ICO. with a team and support ICO will success and new coins has come out in to market.

[shnyrutti]

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

There are many reasons behind it i assume. Firstly people like to create own coin might be for a good cause or bad course. Some might want to create a coin to earn money purely or is want to improve on some lacking aspect of certain thing like insurance. Furthermore i believe that creating more coins is beneficial to us as investors and competition brings out better product.

[Greenrace]

high coin prices cause a lot of people or companies to make new coins to get big profits, some of them take out nice coins and can make us also enjoy it so I do not think wasting time if we spend time for a good coin

[GR92]

Unfortunately,people use coins for making money and that's all(( Just Scam(

[Alaira]

Actually there are so many reasons. First they need money to make their project bigger than before and get profit from it. You can success and you can fail, if your coin hype like bitcoin and eth you can get a big bucks, but if you fail, i dont know what to say

[March_Pro]

I think Neo is a copy of Eth, but the value of Neo is also very high. Neo's price is now $ 135, they make a lot of money

[cryptohorsee]

People either create their own coins to sell them to some people that think they are valuable or they create them just for fun. I know a freind who created his own coin and he is sending it to all his friends.

[lolchina]

Because of greedy devs that are riding the masternode hype train,story goes like this:dev makes new coin or clone eth and have premine of at least 5% saying that its for futher develompent of that coin.Then they sell few masternodes before the coin launches to early biders ussualy for few btc per node each,launch the coin and let the market take over while they abandon it and make a new one in 3 months or less and the circle continues

[Acguy]

Because what they can gain is way more than what they can lose. Even big companies are making their own coins because of this.

[jemarie20]

There some reason why many people here trying to create their own coins one its because there are big income in making their own coins through trading, and also almost of us  here in bitcoin forum has a enough knowledge on how to make our own coin because now is very easy to make own coins.

[Blondy12]

There is only one reason for all of that. It is because everyone wants to make money, it maybe be legit or not. Now a days there is always a competition just like when someone built a store then all of a sudden even a neighbor in front of you will do the same store and goods that you offer. Sad facts in life.

[LuciferEveningStar]

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

Its not a waste of time, you did not really know the essence of business, developers are creating coins to get profit and because of that, ico's are being made to be promoted and earn investors. In this way those developers will have profit from their created coin and grow its value in the market at the time goes by.

[jinksters09]

Because if your project is a hit then I guess it is something that is wasted. And if you have a bright idea and a good team which can help you develop profitable coins, then why not take full advantage on that and accept whatever risk that may come because a good return always comes up with a huge risk.

[Raffy11]

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

yes there is too mang coins today on the market and more and more are coming. I don't think they are just wasting their time for nothing because they are getting profits from it and they promote their coins by means of ICO so that they will have investors to participate on the project so if the ico will become successful they will earn more profit  but some ico are just scam so be careful.

[Ivankov]

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

Its not a waste of time, you did not really know the essence of business, developers are creating coins to get profit and because of that, ico's are being made to be promoted and earn investors. In this way those developers will have profit from their created coin and grow its value in the market at the time goes by.

Simple, once their coins/tokens is getting high and so expensive. They'll dump it and gone. That's was mostly happened. Crypto world so poisoned by those developers.

[patz22]

It is not for nothing, developers are creating coins because of the earnings/profit that they can get from the investors.  Some are doing it to scam people but in my own experience in invesment I didn't encounter such and also most developers are doing their best to ensure that the project will be successful and profitable to its investors.

[Cmoh]

If everybody will create their own currency then whoever needs whom. This is a simple funda that coming to most of the mind. But, actually not like this. Because they are actually not making the currency rather token which is a share of the company unlike the public sector company brought with IPO. IPO has most of the features keeping in the mind of investors and the very Govt. acknowledgement. Like many of the shares trading in the market, these coins are also traded on the cryptocurrency market. These coins are brought by the private company or maybe one individual company.

[NikitaSkublov0202]

I think having your own coin isn’t so different from a practice of selling “shares” of oneself. The difference is in the technology, which should be pretty invisible to the average user. What the user cares about is the value of the person, and in order to determine that, a person needs a clear plan or thesis for how they will live.

Imagine I sold shares of myself but never allowed shareholders to vote on how I live my life. Without my thesis about the wisdom of crowd-based investing, it’s just an ask for money: people give me money and I get to do whatever I want. That’s not very interesting or valuable to any potential investors. By adding a thesis about collective decision-making and backing that belief up with technology, the experiment in selling my shares gains meaning.

[nelsmining]

Most are creating these coins to make money unfortunately at the expense of the masses. Hopefully you can sift your way through the multiple ico's each day in order to find the gems out there.

[wayaneka]

Because they want to make big profit from that coin by sell that coin to the investor. This is fast way to make big money because cryptocurrency is popular now and the demand increasing alot. Some of that project has legit product and others any fraud project. So we as investor always make review and do your research before invest in any coin.