Why people try to create their own coins?

[Makka]

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

I see only one reason - to make easy money from nothing. There is huge amount of empty and useless altcoins.

Yes, they are up for free money. This is the reason why some governments are trying to set up regulations on ICOs as there were lots of scams already in this decentralized open market. Maybe this time those scammers will answer the law.

[acord00]

Instead,  I do not appreciate someone to create their coins but I really regret it if someone creates a crypto currency coin which is a duplication of the previous coin. In my opinion, he is just wasting time because rarely does their coin get the trust of the people. I think if they do not create innovative crypto currency coins and with more sophisticated technology then you should not have to create the coins. We also can not just create coins but we also need a strategy in marketing the coins to succeed in the market. Without a good marketing strategy then the coin will not have a place in the market. Don’t  create new coins just to follow the trend.

[Duane Taylor]

For me, it depends on the creator of the cryptocurrency. Most are about new ideas that make use of tokens as a form of currency, platform or as a form of shares in the company. There are some however who just want to make quick money. They build a supposed to be legit project, get investors and get away with the money collected. There are also scam airdrops that asks for donations so that they can send the tokens to you, and you end up holding useless coins.

[djscreem01]

I think one of the most often reasons is simply money.
They believe that if they create their own coin it will miraculously become high valued and they will be able to make a lot of money fast.
Of course it is not that simple in reality.

[zcashplan]

Both entrepreneurs and fraudsters need to create their own coins. Entrepreneurs contribute to humanity in order to raise more funds. Liars need to find the deceived by means of coins.

[Che454010]

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

it's great when you have your own cryptocurrency! and with your pre-mine you can do whatever you want) if I had enough mind for this, I would also create my own cryptocurrency

[tuljan]

I disagree on that one, I think that they know it very well but they do it anyways because it's profitable to make one coin and dump it as soon as you can so you can make another one.

True! Excessive creation of tokens or coins is just to make side-profits via pumping and then dumping. But it doesn't mean whole crypto ecosystem is infected by this. There are several projects which are commenced with a view to deliver product and solve some online problem. Like Remme solve the major problem of online security through its product and that's why its ICO was subscribed within 24 hours. If people invest in such coins, I bet no one will regret his investment.

Thanx for that one, I didn't know it existed. I'll buy some just in case.  

Yes, they are up for free money. This is the reason why some governments are trying to set up regulations on ICOs as there were lots of scams already in this decentralized open market. Maybe this time those scammers will answer the law.

I think that's just an excuse for governments to get into the business regulating everything.
It's a slippery slope my friend and if they get in they're there to stay and do as they please. If it's regulated it can't be decentralized.

[lghdt943]

Creating coins can make money no matter what they are doing now. In the end, it is all about getting rewarded. Regardless of whether it is in the economy or in life, there are many people who do something bad in order to earn something. The so-called scam is also there. Although the purpose is not the same, but in the end it is to earn their own interests.

[dothihanh1811]

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.

[_bitcoin_papa_]

They want to make quick money, that's all. And if we talk about quality projects, with real ideas, then such companies just need money to develop the project in their own industry.

[rexxarofmoknathal]

People fall under the impression that making their own coin will make them big dollars overnight but obviously that's not how it works. Simply creating your own coin is not good enough, its all about being distinctly different from what's already available and that's very difficult and expensive to achieve.

[mmo_online_1981]

They want to create alternative bitcoin altcoin or develop their own projects. Or find out how to scam the members with a copy altcoin!

[Altcoindealer]

Its simple. Everyone want to make money. They see how bitcoin get value from zero to twenty thousand. SO they think they could do the same. And if you have some programming skills. you can create your own token or even your own coin with the own blockchain. Its everything free, and you can download it. So its pure greediness from the people. NOt interested in blockchain or the community.

[MoeKaloolon]

People create their own coins because now they think that they can make a lot of money if they create coins because they know that people are always
willing to invest into coins and new ones at that. It has become an epidemic because now everyone with a computer now believe that they can create their own cryptocurrency

[DemonHunter83]

Its simple. Everyone want to make money. They see how bitcoin get value from zero to twenty thousand. SO they think they could do the same. And if you have some programming skills. you can create your own token or even your own coin with the own blockchain. Its everything free, and you can download it. So its pure greediness from the people. NOt interested in blockchain or the community.

I think because of this cryptocurrency has become so popular. After the rumor spread about raising bitcoin, a lot of people wanted to become the same lucky ones who held bitcoin for several years.

[pokemon43]

I think that this really  hurts the crypto community because such coins do not develop a crypt, but on the contrary suspend its development.

[Successmaniac4]

People create their own coins because they want to make quick money. When people buy their coins, then they run away with their money.

[tangbori]

The only reason that I see is that people are trying to create their own coins in other to scam people we all know that many ico projects are promising and in the end turn to scam by running away with investor money,but there still good own coins all we need is just to dig very well about it before planning of buy it

[jjjrmy]

It's a lucrative business, ty typed aysio to put in some money, distributed some tokens for advertising, made a website and everything, millions in your pocket, but do it all with the mind, because people do not peddle on the bench, and if the coin reaches good results, then you will be in more plus!

[320hz]

Yes, now really there are a lot of new projects. It seems to me that this is a very profitable business. In addition, crypto is a trend now and it attracts a lot of people.