Why people try to create their own coins?

[gabrielkings]

This is the smart contract technology that has done more harm than good. It is now easy to create your own token and in turn run away with eth and btc thereby increasing scamming rate.

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[adekogbe]

The truth is they are very very few innovative new projects out there because most of the existing projects and the new projects are made copies a lot of teams copy the concept of other people's projects and create their own platform mostly with the aim of raising capital from unsuspecting investors. this is the more reason why I believe this market of ico's needs to be regulated because more regulation will bring more scrutiny of new projects launching their decentralized platforms.

[Wyndesam]

Yes, to a greater extent, of course , now people create projects because they want to make money, the blockchain of course very few people care

[dylanmeter]

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

I'm sure you are not alone, i found most Ico are just a copy/paste of each other. It has turned into a market whereby Managers promote them for marketing deals. Hunters and airdropers contribute in spreading the scams rapidly.

[minipun]

Most of them want money . they don't have new ideas so just copy another . some of them are scammers trying to sell fake coins .

[BlackRacerX]

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

Not every token however has the same function. One key does not ope all doors and not one coin or token can access certain areas of the internet and/or functions. That's why we have other people developing a lot more tokens for other people, they have their own functions that can be very beneficial to both parties.

[UladzimirS]

A physical person it is not necessary for sure. It is beneficial for the company to convert the entire business into digital form.

[bohboh]

Money is the root of everything, most of them are after making money, so they copy most of other people project and they try to make their own way. Let just be careful of bounty or ICO we joined.

[Charlotte1337]

Current cryptocurrencies that are popular today like Bitcoin and Ethereum have many problems (transaction time, can't be used day-to-day, dApp support). We're in the fight for who can invent the best crypto for the future, so it makes sense.

[sammy21]

Current cryptocurrencies that are popular today like Bitcoin and Ethereum have many problems (transaction time, can't be used day-to-day, dApp support). We're in the fight for who can invent the best crypto for the future, so it makes sense.

well it is true, now an awful lot of companies that are developing new crypto menciptakn and with better technology and fast. If later there will be a crypto can be used as a daily transaction I think it would be very useful.

[rhenz01]

Current cryptocurrencies that are popular today like Bitcoin and Ethereum have many problems (transaction time, can't be used day-to-day, dApp support). We're in the fight for who can invent the best crypto for the future, so it makes sense.

well it is true, now an awful lot of companies that are developing new crypto menciptakn and with better technology and fast. If later there will be a crypto can be used as a daily transaction I think it would be very useful.

Foir me I think people are trying to create their own coins it';s because they want to be known in the country where they are living and to earn more profit once accepted on it.

[rapsonic1337]

I think it actually depends on the individual/company that creates their own coins. Alot of the times their main motive is just to earn money and many of them don't care about anything else. Still sometimes people try to do something good and introduce new features which can make things more convineant.

[coxian]

Obviously money is the main reason for that. Thats why these days many scammer can steal money from investors easily.
They just copy other coins and give some time on discord and bitcointalk. After collecting btc from the investors they do a exit scam.
So, it is very easy for a bad person to make money with that.

[VirginMary]

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

"Nothing" is one of the options. Million of $ Worth of created coins is the other options, which is a very strong motivation for most of the people who create copy/paste coins. And - look at Dogecoin: by copy-pasting a coin you may even end up with a Billion $ capitalization at some point.... In this case you surely didn't waist your time.

[rippar]

People try to create their coins because they want to present their skills and other people can buy their time by theirs own tokens. It is a really great idea!

[Lagduf]

People try to create their coins because they want to present their skills and other people can buy their time by theirs own tokens. It is a really great idea!

NO. developing coin that's literally copycat of the existed coin is really easy, just rename here and there and your coin will magically ready to be published
its not about people want to present their skill but more of people are curious about how to make coin or just trying to make profit out of it.

[Ducnguyen03]

I think people try to create thieir own coin because Simple reason is they can earn a lot of money from sell their tokens that they created .so scam projects try to copy others to scam money from investors

[jhache]

People are greedy plain and simple. Majority of the coins in the market are not going anywhere, the creators have no idea where the project is heading and they are just here for the money. It is why so many people are trying to create their own coins, they realize that they can make a lot of money in a short time through that medium

[Russlenat]

People are greedy plain and simple. Majority of the coins in the market are not going anywhere, the creators have no idea where the project is heading and they are just here for the money. It is why so many people are trying to create their own coins, they realize that they can make a lot of money in a short time through that medium

I also agree with you, they see that they can profit much money for creating a new coin, that is why there are so much ICOs that are created everytime and some of them are scam, they see the best opportunity here in crypto and they used it for their own greed, only few coins well succeed and thus who are legit and a good project.

[Servantes]

I guess the main reason is to make some money, sadly. It is not that hard to create a token, which than can have a great value, if doing the marketing nicely.