The Reason For Creating a New Cryptocurrency?

[1Referee]

It should be about ideals, trying to improve on crypto.
Unfortunately I believe most coins that release now are made out of greed.

Ideals and improving crypto (Bitcoin more specifically) was only a thing in 2011 and before that.

Everything changed with how crypto in general became more mainstream and thus financially more lucrative to exploit this ecosystem for most involved parties. The entire crypto ecosystem is one big mess and I dislike it to the core. If someone comes up to me and asks whether or not it's a good time to invest in crypto, I advise that person to not invest at all. Stay away. If you aren't capable of doing basic level research yourself you shouldn't be here, period.

I somewhat miss the early days here, where you could endlessly talk about what would happen if this or that bank would hop on board, what would happen if Litecoin was added to MtGox, which we thought would sky rocket the price to $50, etc. Everything we were hoping for and were afraid of to happen, is happening right now.

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[Direwolve735]

New crypto currencies are designed to correct the shortcomings of already existing coins. The independence of the system contributes to further development, the emergence of similar independent currencies and their derivatives. In addition, Bitcoin's example showed that the crypto sphere has great potential and perspective, which is an attractive example for creating similar currencies.

[ylnar123]

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.

That are the reasoning of scam ICO, to leverage money from investors who are willing to put their money on some projects they think has a future. In other words, some emerging cryptocurrencies are scams.

[hitrawal91]

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 are few reasons for creating a cryptocurrency and they are like few people who come under whitelist who really have some good concept and good future plans which again implemented with blockchain technology can give you good returns and your cryptocurrency might rock  all over the world for a particular service or industry while other people just create pump & dump channel in order to scam the people for personal profits.

[miltonpogi]

Innovation is one of the reason why people intends to generate another currency even a present currencies are reliable. ICO mentality is to produce a newly upgraded currency that can surpass BTC or propose more than BTC does. Scam also are influential to create believable currency even not. they simply want to make some profit in the easiest way. "security" is one of the basis of all currency to build connections with investors, like BTC does, this mechanism is the key for a currency to go moon, and in a fact that most of the crypto enthusiast and investors find a place where they can put all they have with a extreme security in the future, in short a currency that can last in a long run.

[dante golo]

Most likely to provide an opportunity for someone to choose a crypto that can generate an advantage so with the circulation of new crypto their economy becomes better than before after starting to invest in the next few years.

[Tory-Tory]

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?

Why is the reason questionable? It is extremely understandable - they want to earn money. Otherwise, there would not be so many companies. For me, the important thing is that the team or project has been working since 2016 and more.

[jackylion]

They create new electronic money for the purpose of raising capital. and develop their projects. So they achieve the goal then they pay the profits to the tokens holders by raising their prices

[acheampong64]

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?

Every new cryptocurrency is its own unique project and they're used on the various platforms for which they were created. Also to me, I think they add value to the trading market. The problem associated with it may be the increased scam coins creation.

[wantjokull]

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?

Most of them are made scam purposes. Most of them are made with the intention to get money from the people and give nothing back to them. I guess this is why the crime rate in the crypto currencies has overgrown now and this is why they are creating the new coins everyday. Have you ever noticed that there is no more growth of the list in the CMC where 1500 coins remains constant and those come out as scams are always removed from it. The list grows by 100's of new coins by weeks but it reset back to original number because by that time scam once are delisted. So its all about scams, stealing and she like that. In short!

[tenebriscaelum]

There are many reason why they would want to create a new altcoin. For instance there are a group out there that would want to scam you, other just want to do a pump and dump on it, while other would really want innovation into the market that they are representing, and there are others that just do not want to be left out because of the booming technology.

[margaret22]

The main reason in most cases is money I guess. Creating a cryptocurrency is an easy way of raising money. There are exceptions of course, who want to create something revolutionary.

[SeriosSam]

Most likely this is the improvement of technology and the contribution to the development of new technologies

[aezotxmb]

I think the reason for new encryption may be that people want to break the existing social order and economic order, and there are many rules that need to be changed.

[mikyadel]

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!

[ausbit]

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 are many reasons as to why people keep on producing new coins in the market, and some of them are not genuine so you should mind the cryptocurrency you’re putting your money into, you shouldn’t be going in for any cryptocurrency you see in the market, cause some of them are fake.

Some of them are made to scam investors, after they have all invested their money, these fake devs will run away with it. Some of them are legit though, just like Bitcoin, XRP, Ethereum, Bitcoin Cash and a lot of them.

[squog]

I guess thae main reason is to get money, come on guys it's nit even rocket science and let's not be naive. I think second reason is for market competition and diversity. It really does wonders when we introduce new stuff. Besides new ICOs means new blockchains to pay for online goods and services.

[ricardobs]

New crypto currencies are designed to correct the shortcomings of already existing coins. The independence of the system contributes to further development, the emergence of similar independent currencies and their derivatives. In addition, Bitcoin's example showed that the crypto sphere has great potential and perspective, which is an attractive example for creating similar currencies.

You said well about the designing of new currencies which correct the short comings and the false or satisfactory points. Now the crypto market has gotten more success and popularity and it was necessary to design more cryptocurrencies because a single source can not fight for a long time against power of countries which are in opposition to it. So the other cryptocurrencies also proved that with the Bitcoin they are here for the benefit of people.

[maculeth]

certainly the project and the development of new technology that underlies the making of new coins. with an interesting project, and successfully attract investors, the price will also be valuable in the market.

[audaciousbeing]

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?

While a whole of people have concluded that crypto currency creation has been largely polarized by greedy and selfish people, it still does not remove the kind of advantage they have been able to bring into the entire crypto currency market. In the midst of the scams some projects have been able not only turn out impressive ROI for early investors, they have also been able to finance projects and making impacts in the real world wherever they are residents.
The above are the ones I see and would focus on to have the right reason on why they create a new crypto currency while the others that are about their own interest are just passers by and should not be accorded any recognition for creating a crypto as what they created is something else other than crypto currency.