The Reason For Creating a New Cryptocurrency?

[stewert]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

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[davis196]

Reason number one:For pump&dump purposes.
Reason number two:Exit scam ICO(which is kinda like the first one,but with pump&dump they could pump the coin again and gain aditional profits).
Those are the real reasons.The fake reasons include:instant and cheaper transactions,easy and profitable mining,technology innovation that will beat the crypto competition.

[CuapCuap]

Perhaps, To meet the market needs that have not been touched cryptocurrency and for fundraising projects.

[ajqjjj]

The main reason for creating new crypto is innovation because already all the projects are available in the market new projects is little alter the new technology so this will more favourable and secure in future surely this will going to moon. But main aim of new cryptocurrency is security and technology.

[bitmover]

However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Some new cryptocurrencies has real value. When the token has a real world use, or when some real business are moving there operations to blockchain.

However I think most of the new altcoins are just created to make easy money, as you can see so many ICO scams out there.

[mostkey]

To compete in the crypto world by providing different technologies and maximizing their use as currency or others to be the best of others and most importantly it is very profitable where so many new coins are everywhere, they build utility coins that he thinks will be more interesting and bring the needs in the community. As a result, the coins will be more liquid and the price potentially continue to rise, the more advanced technology then there are many opportunities to keep up with it.

[hatshepsut93]

Reason number one:For pump&dump purposes.
Reason number two:Exit scam ICO(which is kinda like the first one,but with pump&dump they could pump the coin again and gain aditional profits).
Those are the real reasons.The fake reasons include:instant and cheaper transactions,easy and profitable mining,technology innovation that will beat the crypto competition.

I'm sure that majority of cryptocurrencies are like that, they are created with a purpose of making their creators rich and will die eventually because there was never real goal of developing them.
However, some developers start their own cryptocurrencies because the field is still very new and they think that they are smarter than others and can create a coin better than all other coins or a coin with unique features. Take Vitalik Buterin as an example, he wanted to become Bitcoin Core dev but was rejected, so he started his own project.

[googs84]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Its the project they create and not the coin really. They create the tokens for the share value, internal currency adoption or utility purpose for example. We know that coins mean way of connecting investor and businesses so that they can raise the funds.

Some of them intentionally create it so that they can raise the funds and run away. 

Some of them are genuine creators and do what they promised and those are the coins which make it upto the CMC or big exchangers.

[Wittycoin]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Of course to earn money, but really they create new crypto or do ICO to raise fund for them to used for their project or to start and finish their product.

[ralle14]

To lure investors so they can make money from the crypto that they made. That's the first thing comes in to my mind when I see ICOs and forks. After some time most of these alts will be worthless then other developers announces a second version of their worthless alt to fix the mistakes so they can keep making money.

Others make their own crypto to replace the older ones like Bitcoin but we all know that no alt would replace Bitcoin.

Some of them intentionally create it so that they can raise the funds and run away.  

It's most likely that most of them do it because of the $..

[tomahawk9]

To make money. A high % of the newer projects/coins are either a rip-off version of another crypto or just a basic project with no innovation. Those coins offer nothing but the posibilitty of making a quick buck. The crypto market is very profitable since there's always going to be people investing in shitty pump and dump coins just to make some quick profits, that's basically one of main the reason why we see so many new coins every month. Then you have legit projects (which don't care about the profits) from devs and enthusiasts who actually want to offer something new in the cryptosphere, but they're just.

[Bastok]

Perhaps, To meet the market needs that have not been touched cryptocurrency and for fundraising projects.

There are lot of opinions that could be one of the reasons why they create a new cryptocurrency . It could be they one to create a legacy  in this industry ofcryptocurrency or they are amazed of the potential of cryptocurrency that makes them motivate to create of their own or they dont like the current coin and they want to replace it.

[befriendmywater]

Perhaps, To meet the market needs that have not been touched cryptocurrency and for fundraising projects.

There are lot of opinions that could be one of the reasons why they create a new cryptocurrency . It could be they one to create a legacy  in this industry ofcryptocurrency or they are amazed of the potential of cryptocurrency that makes them motivate to create of their own or they dont like the current coin and they want to replace it.

I think the Crypto market is getting a lot of attention from business enthusiasts. Because ICO is a system that attracts investment capital online and has a lot of labor force to promote new projects. So this is an opportunity for people who have good ideas but have no capital to realize their dreams. They will use their great ideas to attract investors and do not need any other conditions.

[cityhall]

The main reason must be for profit.  You know, like you create something worthless and i hoping people will buy it for thousand of USD someday.

[btcluisdiki]

Basically, people compose a team for an ICO project that could attract investors based on the platform and blockchain technology it can offer to the public. Somehow, the main reason is to earn huge profit to such project and hoping for the investors to patronize their ICO project. The project team should have substantial ideas to make the project work wherein people may be encourage to participate and invest to such ICO believing it could generate promising profit.

[nicster551]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

Some people who are creating such coins are used to gain so much money for themselves and not in it for the technology and for the future of cryptocurrencies. But some good coins are showing up but now as many as the useless ones.

[bakujo0817]

most of them are to attract investor to earn huge amount and scam most of new project now are fake but there some developer serious about creating of new coin they think they can solve what the lack of others coin.

[CoinEraser]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

The question is easy to answer. The main reason is to make money with it. Since 99% of the new Coins are pure clones, they are actually useless and worthless. They usually have no real benefit and most of the time it's just about the dev or the dev team behind the new coin trying to make money with it. Only 1% of the new coins bring something new to the table or continue to develop the coin in his own direction. Therefore, you should always be careful with new Coins first and see how it develops. Because some Coins die faster than you can see.  

[BrewMaster]

it is unclear what you mean by "being questionable" but as everyone already knows the reason for creating a new cryptocurrecny for 98% of them is to make money and they make money by pump and dumping their useless coin. these coins are usually a copy of another coin or they are filled with bugs and unsolved issues and the problem is nobody cares, everyone else is only looking for that profit so they invest in those coins and let them stay alive.

as a result when there is this money making opportunity, we keep seeing new useless coins be created.

of course it is worth mentioning that in rare cases (like that 2%) there are good projects too. but unfortunately as i said above since people care about making money they don't go for the real good projects. instead they choose the bad ones that are hyped hence the top 10 altcoins!!!

[Experia]

The growing development of cryptocurrency in the world becomes a very positive thing in this digital era where the use of blockchain-based technology becomes real. However, in my mind, being questionable is actually the reason that many people make and create a new crypto currency?

they dont create crypto they create a project and that project will be benefited if they use coin of them that is the cryptocurrency. however many ICO failed because the project is not that essential in the market.