Why creating more coins.

[Mkpez]

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20  widely known coins, their standard is maintain, investors will be happy.

[takatonanami]

I am also wondering. Despite the fact that there are too many currencies on the market, new currencies will still emerge. There seems to be few projects solid in that.

[pobeditelvezde]

To understand why there are so much coins you need to consider coins like shares which are traded on a stock market so a crypto coin is like a share. Generally speaking almost every company or project issues its coins instead of shares to attract investments for evolving that is why there are a lot of various coins on the crypto market and there will be issued new ones by new companies. It is a normal situation and do not forget that investing in crypto assets is a venture investment. By the way you may not pay attention on minor coins at all, shift your focus just on major coins like BTC, ETH and some other ones and do not pay attention on new minor coins.

[sunsilk]

Its about the competition. Those developers have seen the potential of bitcoin and they are applying what happened to it and looking forward for a better result.

Aren't you curious that each of them calling themselves that can replace bitcoin in the future and better than it. They keep on creating coins with that mindset and each of them think that this is the chance for the emerging tech to take over and their creations will be the one that will be on top.

[yinoye]

The cryptocurrency market is now very saturated with many altcoins. Though there are legit projects too among them with the aim of improving the blockchain community, many coins are also scam and spam projects with selfish purposes of making money. That is one of the prices we have to pay for the so called decentralization.

[Agozyen]

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20  widely known coins, their standard is maintain, investors will be happy.

 As you say some are duplicates, however, many are outright scams designed to get people to fork over their money.  Don't fall for it.  Pick your projects and thoroughly research them.  I've gotten to the point where I ignore pretty much any new ERC 20 token.

[fakegurutu]

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20  widely known coins, their standard is maintain, investors will be happy.

A lot is being created because theres a competition happening or some were just envy about a certain success of some coins thats why theyre duplicating it thinking it will affect the same with them. Another thing to consider too is theres a different platform and projects being created thats why coins is also invented.

[jaocoincrypto18]

I am also wondering. Despite the fact that there are too many currencies on the market, new currencies will still emerge. There seems to be few projects solid in that.

Simply because they want to follow the path of Bitcoin and other Altcoins that successfully collect huge amount of money to make their projects and business to become possible. Crpto currency is a trend now in which creating their own coin is now an opportunity that should never miss that their are lot of people are coming in to adapt this crypto investments.

[Docbee]

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20  widely known coins, their standard is maintain, investors will be happy.

Bitcoin is a means of payment other tokens are created to serve a different purpose entirely you are right that some of the coins are duplicating functions, among them there are some with unique and different idea.

[Ctn]

Thats a good read BUT unfortunately people aint gonna stop their greed in that way. Why I am calling it greed? because the altcoin creator is person or team who may have the intention to raise the huge funds and do nothin later on and you know why this is so? Because they want that money and when they get that money then their asses become very lazy so that our investment get stuck with the project forever.
Anyway, some of them are really genuine one and they are creating it because they want to create a world full of possibilities that can help them gain more genuine customers for their products and services.

[RottenSteel]

I am so pleased. In spite of the way that there are excessively numerous monetary standards available, new monetary standards will at present develop. There is by all accounts few undertakings strong in that.

[crambsa]

because they have a diffrent purpose or vision in their project thats why new coin created

[Patriode]

Market has now many altcoins. I think the reason behind this may be developing crypto currency market. Also, many other creating currency just achieve selfish goal. Crpto money may be a slant presently in which making their possess coin is presently an opportunity that ought to never miss that there are parcel of individuals are coming in to adjust these crypto ventures.

[Dondont]

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20  widely known coins, their standard is maintain, investors will be happy.

I think it more to the how people like to imitating to gain the same profit on there. Long time ago web faucet and roll are good enough, and then HYIP website with its lot of risk, trading also and then now ICO. people like to make their own profit. become the boss for their own. Unfortunately they didn't realize that it bring negative impact to the market. Imbalances volume, security risk and others

[FactAlways]

It's good for funds raising, but I think have many coins is not really helping matters

[mostkey]

With recent market situation, I begin wondering why creating more coins. Does it means that if all effort is put on bitcoin, the community will not achieve her goal? If that is true, why not we maintain the existing ones to enable them have more stability and gain global recognition.
Some of the said coins are duplicating functions, why not merge coins with same functions to enable the community grow faster.
Currently some investor are passing through hard times and if all our effort is targeted towards the first 10 or 20  widely known coins, their standard is maintain, investors will be happy.

They pursue the advantage of competing to be the best and most popular by the public, but that's not what they get, the market is still held by Bitcoin, very dear to those who have developed projects to bring new coins to the market, not profitable but often the object of use for get a temporary profit, everything becomes hampered after a lot of coins are listed here, how much money others invest in junk coins, just focus on the top coins, so many people talk about it.

[Brutea]

Advertise has presently numerous alt coins. I think the reason behind this may be creating crypto money showcase. Moreover, numerous other making cash fair accomplish childish objective. Crpto cash may be a incline directly in which making their have coin is directly an opportunity that have to be never miss that there are divide of people are coming in to alter these crypto wanders.

[BlackFly]

Promote has directly various alt coins. I think the reason behind this may be making crypto cash grandstand. In addition, various other making cash reasonable finish childish objective. Crpto cash may be a slant straightforwardly in which making their have coin is straightforwardly an opportunity that got to be never miss that there are isolate of individuals are coming in to change these crypto meanders.

[eternalgloom]

Sure, there is a lot of overlap between projects, but proposing that every coin with similar functionality merges, will never happen.
It would just be impossible to organize a huge merger like that, no-one would agree.

Plus, they all have their own approach, good luck on getting any sort of unanimous decision on what features to add or which project to fork.

Will never happen...

[Open4lies]

Each new coin/token has it own project and technology and purpose . New coin/token created with main purpose that improve crypto world and seem like there are few coins/tokens are doing it really well . Beside I think it's also really good for traders and investors cause they'll have more choice to invest their money in .