Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Yes, it is, that will give you a lot of attention from the investors after you have done with your project without any interest to raise a lot of money. You can see byteball, raiblock project. Both weren't doing any ico.
And the developer is only focusing on developing the future platform but I byteball can become an excellent example.
But I heard egyptian is banning crypto and what's your thought about that?
Yes it's banned here in Egypt but we are getting in touch with the goverment to settle it down
perhaps social media is a big help i think such as twitter and facebook or telegram instead. But need thousands followers cuase followers is the must when it comes to Selling tokens and must have a good testimonials and trusted dev to convince more client to contribute in your project.
We are working on our marketing team right now. The dev. Team has started coding V3 blockchain and we will swap the coin after finishing it
You guys wouldn't be the only ones. Polymath did a private sale and then skipped the ICO for an airdrop. Gained them lots of exposure.
https://polymath.network/ Thanks for this usefull info.
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Hey, so this is purely my own opinion, everyone else please don't get mad about it (a lot of people around here are investing in ICOs these days)!
So.. to answer your question shortly, yes. It's very normal, and
in my opinion, it is the best thing you can do. Why?
I have all respect for LEGIT and LEGAL ICOs, but it honestly sounds like the second version of Pre-Mined cryptocurrencies. I do not even consider ICOs cryptocurrencies, because... well, most of them are non-minable, and as soon as one entity sells something to you, to me it looks like a bank money printing operation. I am not very sure how long these ICOs will remain around, considering the fact that many of them are illegally earning a LOT of money.
Pre-mined coins were currencies released with a .. say 50% total supply already mined by the developer before releasing it to the public. They were usually hiding this so that we could buy their coin, get the price up and then they would earn a fortune off it. This worked until people found out how they scammed us, but now we have ICOs. ICOs are pre-mined tokens that are then sold to the public. It's basically the pre-mine scam disguised.
Why would ICOs NOT survive? First of all, ask yourself how will we ever get to use SO MANY cryptocurrencies. We have tokens for restaurants, tokens for logistics, tokens for shopping, tokens for exchanges, tokens for... BANANAS (I'm not sure if that one was real or just a troll, but still), can you imagine a scenario in which you'd have to pay 1FOOD (FoodCoin) to buy a burger, one hour later a package will arrive and you'd have to pay 1UPS (UPSCoin) and so on? I can't. Only one currency will be used the most, like Bitcoin was until a few years ago. Then we have the illegal fundings, devs earn millions overnight. I can create my own ICO and sell it, take the money and go away.
I would advise you to let it free to the public. To let the people using your coin mine it, and do whatever they want. Don't follow this nonsense stuff. Again,
just my personal opinion.
Respectful opinion .
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
There is no such term as normal in launching a new coin. It's totally your decision what kind of building process of a coin to choose and all of them would be normal.
If you have enough funds for your coin development, for adding it on exchanges, for marketing, advertising and so on (probably significant amounts), if your coin have significant advantages over competitors and have a growing community already, you probably don't need any ICO.
But if you have only idea or some basic functionality, ICO can become a great tool to get a huge leap on the start of your coin's life. ICO is a great combination of funds rasing, marketing, advertising and a way of community engaging at the same time.
The more interesting is that even for the already popular coins ICO can give all the same profits as for the new ones but in a times higher values and in a very short period of time. What is have to be done for years to develop a coin in a usual way, ICO can help to do in a few month. If summarize I'd say that ICO is not a "must" but rather "definitely should consider about" feature for building a new coin.
We are working for sponsor for the right time
Me and my team building a new Altcoin. The first Egyptian altcoin. So we didn't want to start it with an ICO. Is it normal to start a coin without an ico and if yes what is the effect of that
Are you developing a blockchain or just a token under eth blockchain?
I believe there is no one funding bitcoin when satoshi is developing it. But he can code and he is very good at it. So if you can do it as well, I think it will be fine.
Most run ICOs because they want to fund a project and they use token to give as shares to the company.
We are building it under Ecr20 Contract and after finishing the private blockchain we will swap
