Why people try to create their own coins?

[maisu5928]

One reason is they are making a platform and wants to have their own currency, like apps and appcoins. Some makes them to ease the difficulties of transactions from a specific platform. Most of all, some people just want to make money, because having a successful campaign will make you instantly rich.

[nasdn129991]

They do that because they can get a lot of money for what they do. So they are busy doing such kind of things and others may get rich because of them.

[popotao92]

I also noticed that even when 2 projects seem identical, there are always little differences that can help one project succeed and another one fail. It is also a matter of networking and knowing the right people and having a good team Smiley Just like in any other field.

[Yara1996]

Because this is a good profit, if Iko succeeded then this company earns unrealistic big money and if you are lucky then the price multiplies times!

[seek4dream]

In most cases, people create coins or tokens to raise money.
Basically it is a way to build their own ecosystem, in which their coins or tokens are necessary.

[Bitmore]

I think some people create their own coins for fun. That was something to tell the grandchildren about 2018))))

[obelsna99]

There are many reasons, they really want to work on their project and also help people. It can also be for their own interest such as stealing investors' money. More so in our world and we would just be stupid to hope that their token increases the price and we can take back the investment of nearly x100.

[craZyLovE0916]

There are many reasons, they really want to work on their project and also help people. It can also be for their own interest such as stealing investors' money. More so in our world and we would just be stupid to hope that their token increases the price and we can take back the investment of nearly x100.

Although I agree that a lot of people make altcoins because they want to help others and are generally interested in improving currencies and transactions as we know it, we should not also forget that some people are using it as a way and a means to make quick money off of unsuspecting investors who are just trying to make money in this market. This is not acceptable

[loveinberlin]

Perhaps, some people see sense in creating their own coins. I don't know for sure how this works but I am sure that if this situation takes place they get some income. If it isn't profitable why do this?

[royale143]

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

They do that because they want to ride the wave of the popularity of the cryptocurrency market. Unfortunately, many developers are like that seeing how they are so not prepared with plans and strategies to keep their markets afloat. They only want to source funds for their projects, and once they get it, they usually go for a different path than what they have been preaching, and so, people the the wrong idea that so many projects nowadays are scams because of that very practice.

[doublecoins]

in blockchain technology is open source anyone can create their own coins as per their requirements only few coins will see limelight but most of the coins fail at the end of the day

[Runbitup]

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

I do not think they are wasting their time, because I think they are trying to do something profitable even though you think the way is not right but you have to respect their efforts and I'm sure not all copies are bad anyway they do not actually copy but use the coins others as their platform coin platform

[FutureICOs]

There is all kind of reasons, but I feel able to make money is obvious. While I don’t see anything wrong, but most have no proper way behind the stuff. I believe this is where it’s highly beneficial to have Crypto Currency masters at your side. As often there are too many issues with the system we have, so it is something that could really hit us badly. We MUST be extremely wise and careful with these things to ensure highest rewards.

[scambust]

It's because they can. But they need to convince other people that the coin network they are creating have some future value because of mass adoption. This has been the theme of this forum for a long time and will continue to do so.

[Usui-Kun]

Well it is a good quick way of earning really easy, if they can. The creation of tokens really depend on their motives and objectives, but the success will solely depend on their project. So do not worry about people making tokens, it is about how they use them.

[thenameisjay]

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

Not exactly. Many of these coins have special features and are used primarily on specific sites or technology. There aren't a single alt coin out there with the same features because they target a specific market. There are similarities, but trust me, they're far from a copy of the others.

[gawuk]

I think some people are indeed utilizing this technology to only benefit without the real project. If you can make money yourself, without any authority that says your money is genuine or not, I think it is not strange if there are hundreds of coins coming in at the same time.

[aussiesloth]

There are, no doubt, many reasons for creating your own coin...

- Actual Utility as a cryptocurrency, where the new coin builds on previous tech and is superior in functionality/speed to previous coins (sadly, not many fall into this category anymore)
- Profiteering, but with a legitimate end use (high percentage of total coins retained by dev)
- Scam (looking to make a quick buck)
- Experimentation (to simply see if they have the skills to do it)

[Endank]

Now all startup can make token and collect money. Partly really for project development, but some do not even have any plans with our money.

[dalimex]

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

Now even a housewife can make her own coins because there are even those who offer the complete package at a price that can be considered very cheap.