question on long term prices

[Shenzou]

Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?

People can easily create new coins and they do none is stoping them from doing so, but the thing is is how to make it popular so its price goes up, take bitcoin for exemple when it first came out it was a new idea that is why it started becoming more and more popualr and so its price got higher, and all the other coins that came after bitcoin didn't have the same success why, because they don't bring anything new, but right now with the trnasaction time and the miner fees for bitcoin going high, new coins are coming up and saying we can do what bitcoin can't and that is providing a fast transaction time wih less fees and those coins are starting to get the attention of many users and investors.

[1715467606]

1715467606

[Swenna]

First and foremost, it is not the coin or the dev team who decides whether a coin is worthy of its value or not. It is actually the people, it is us. We are the ones who gives value to these coins and without us, it will cease to exist. Always remember, the main reason for ICO's is to gather potential investors that will support and back up the coins that had been developed. Even if a coin that is just like what you have said is created, as long as nobody is interested on using or choosing it, it doesn't matter. In the end, it will just turn out as one of those shitcoins, forgotten in history. It needs not to be identical, it needs to be better and even greater than the one before it so that investors and people chooses it rather than the old one.

[diouf67]

Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?

Because that coin would not be the same and for most coins the price is completely irrelevant for their actual use case. Take bitcoin for example, if it is actually adopted as a currency worldwide (which is the end goal) the value of it does not really matter so much because weather you pay 0.1 BTC or 0.000001 BTC for a banana it is all relative to how many BTC are in the world in total. I'm not sure that makes sense but it makes sense in my mind.

[Quidat]

Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?

People can easily create new coins and they do none is stoping them from doing so, but the thing is is how to make it popular so its price goes up, take bitcoin for exemple when it first came out it was a new idea that is why it started becoming more and more popualr and so its price got higher, and all the other coins that came after bitcoin didn't have the same success why, because they don't bring anything new, but right now with the trnasaction time and the miner fees for bitcoin going high, new coins are coming up and saying we can do what bitcoin can't and that is providing a fast transaction time wih less fees and those coins are starting to get the attention of many users and investors.

Cant argue on the things you do said on here which is actually true, Even a 15 year old can able to make his own coin if he'd want to and copying other concepts wont really be a hard thing to do.The important thing on here is that people doesnt really pay too much attention into these kind of coins.Only unique and potential ones which would really succeed to rise up on its value exclude to those coins just being pumped and dumped out.