The Reason For Creating a New Cryptocurrency?

[xirtaeboddik]

A good reason to create new cryptocurrency is to have a currency with features that suit the company's products. It makes life easier for their clients if they have their own currency with special features. Another thing is for profit, of course. The company will make double profit from having their own products and their own currency to buy it. In the same fashion, their clients would also profit from it through trading. So it's all about money-making.

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[lubah]

I believe that now the release of new coins is simply useless. A lot of coins that are useless. There are a lot of new crypto-exchanges that are absolutely not needed. All coins try to bring income to their creators and the group of individuals who are close to them. Pump and dump, that's their result. Only 100 ICO, only 1 coin (Ico) really cool with interesting idea.

[batang_bitcoin]

Those people that are keep on creating new cryptocurrencies are only to make more money.

Gone are the days where devs are for the innovation and technology, today is different and most of them got eaten by greed after knowing that they can make money out of their ideas.

Just look at the ICO things, most of them have new "ideas".

[Shenzou]

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?

Obviously as you said cryptocurrency is a growing technology so there is a lot of money to be made in it, and since people saw how successful ICO projects were, they started rushing into creating their own tokens, their own cryptocurrency, and mabye you think that this is a good thing, but it is not because it turned the whole market into a market filled with shit coins that add nothing to the scean because they are made just for profit purposes only.

[Marlo0619]

Before I tell you why there are people who create a new cryptocurrency and what is the reason why they do that. I like to example that social media. Facebook, twitter, instagram. We all know that these are the most famous and most used social media in the whole world. But when we look at the past. There are some first social media that was created. Like friendster and etc. They made a new social media because of exclusivity. Every people needs a new way of doing something.

[GangNamSK]

According to my inference. There are many reasons to create new cash flow.
It is possible to mobilize capital to push up the market and accompanied by the top ranked currencies.
It could also be a big bid for big investors.
But in my opinion, outdated currency is not good for the community, it needs to be changed or repaired.
Let it give value to the user community and investors.
That is the thing to do.

[newcollegestar]

I no longer trust any new cryptocurrency ,simply because every ico creator now only looking to collect a couple of millions from investors and leave the project even ico rating websites became the same and give high rates to shit projects . everyone now trying to collect as much as they can except investors like us who lose money!

Right now, there are more than 100 crypto currencies already and that the ones who are busy in investing of their money into crypto coins are already very much confused when it comes to that of the making of the choice amongst all the crypto coins for the sake of investing of the money. We need not to go for the newly introduced crypto coins and that we must invest only in trustworthy coins.

[kingzues09]

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?

Almost everything in this world from service to product had been created and offered by ico community so i guess the simple reason for creating copy cat is for sole purpose and this is to victimizing investors that may bite their baits and become another victim..unless the project is unique (that I doubt thers any)no other reason for this

Yes I agree on you. The last decades they create IPO or what we called Initial Public Offering. Now we are just entering the world of Virtual payments and currency, several companies will adopt the blockchain. And with blockchain we need cryptocurrency to invest in different fields in our industry.

[Btcjoglyn]

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.

I agree that the reason for creating a new crytocurrency is to be able get money from the bitcoin. Such as the best thing happen to have a great time to get a chance to get a new life with us.

[Vaculin]

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.

I agree that the reason for creating a new crytocurrency is to be able get money from the bitcoin. Such as the best thing happen to have a great time to get a chance to get a new life with us.

I think the main reason for creating new cryptocurrency is part of the innovation made by blockchain technology.New cryptocurrencies appear aiming to hit high prices during the pumps and dumps in the market.And with this fluctuations in the market,they may hit their goals or just simply die just like some other newly coins.

[imapd]

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?

If we will speak about alternative cryptocurrencies, the reason is very simple, and it is a creating of new ICO to achieve some goals to solve some problems, to create something new, etc.

[hanzosum]

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.

When I saw the title then thought same reason for that. Yeah so many useless and no needed new crypto currencies born every day for that reasons mostly. 95% of that currencies will die and only "just" 5% of them will survive.

[Gdra467]

Some of the up and coming tokens don't have real use as bitcoin and other tokens/coins. The increase in the number of tokens make it extremely difficult to identify which new project is authentic. Some of these projects should collaborate with others with similar ideas to build a better platform. Competition is good but "Quality" is better. Isn't is possible that some of these projects that create tokens any time adopt bitcoin?

[Vness10]

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?

There's a many reason why some people make a new cryptocurrency because others want to scam the investor that's why some of are making a ICO to scam the people. And some of the reason is to pump and dump or usually other company wants to have good reputation in the crypto world.

[cryptocurrencyguru]

the main reason for new token is entering the blockchain technology and crypto market and giving tokens instead of their company currency so it is worth starting a token

[Alert31]

    I think the reason for creating new cryptocurrency is to have an easy money by the creator only. a lot of fake ICO out there now and they don't care about you, they just care about themselves on how they can earn money through people then after they got it they will disappear. Another thing that i think the reason why they create new cryptocurrency to distract  others focus and scattered the demand.

[Grayy]

the main reason for new token is entering the blockchain technology and crypto market and giving tokens instead of their company currency so it is worth starting a token

Does every company create a token? Blockchain adoption is far above the mere creation of tokens. Blockchain is to help ensure top security and improve transparency. The police service, Health service and so on can adopt blockchain without creating a token

[jahda1001]

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 simplest reason is that they want to make money. The sale of ICO makes them have a lot of money to invest and develop the project. But not all projects are truly developed, besides many projects are created to scam. Almost all ICOs work properly, accounting for only 2% of the total.

[Ondre]

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?

Others are for the purpose of starting a better crypto than the others than can compete with those who are on the top. Others are just scammers who take advantage of people and their money. Others use it for thw development of their company.

[OrangeII]

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?

Others are for the purpose of starting a better crypto than the others than can compete with those who are on the top. Others are just scammers who take advantage of people and their money. Others use it for thw development of their company.

well, I think there are so many reasons for this. the reason for the new cryptocurrency is of course to cover the weakness of the previous coin. well, although sometimes it is used for nearly the same project, sometimes the new cryptocurrency has a striking advantage in the previous comparison.