Why creating more coins.

[mcTether]

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.

The current coins cannot be maintained because of greed and love for money. Everyone wants to create coins to just trade and disappear.

[white_star]

creating a coin means that cryptocurrency still develop by many people. it means that crypto grows time by time
yeah maybe there are shitcoins too, but it is still better than no developing on coin anymore

I think so many people want to create their own ICO company. Well, I think it's pretty good, because it can develop the potential of many people to build new coins. but of course it's not easy, and a lot of scams because of that. yeah, but i think this is pretty good, because they make new products from the internet.

They created more coins to promote in a future and to be able to develop there learnings in crypto as well. Every coin has a potential so eventhough not popular yet it's more potential if it's more demand with individuals.I think it's more likely in investment.

[twkasun7]

i am also wondering about that first.But i can understand its all about the competition .Strongest project`s coins will remain long,weaker projects`s coins will vanish(dead).

[Rhaizan]

i am also wondering about that first.But i can understand its all about the competition .Strongest project`s coins will remain long,weaker projects`s coins will vanish(dead).

Creating a new crypto is the sign that many people are develop their skills to create own coins. Coins that can be useful in our world or in our economy. But of course there's a lot of shitcoins and scammer through promoting ICO project to steal the money of investors.

[Kovaleff]

Creating a large number of coins, says that more market participants want to earn on cryptocurrency.  I believe that most ICOs do not work as they say.  But there are projects that are really promising.

[aencarnaci]

There is many people who has different vision on the cryptocurrency. And if one have an instrument for creating his own coin, he will obviously create it. Why he should deny himself the pleasure of creating a new cryptocurrency?

People will always have vision and an idea and one thing with idea in the past is that when you do not have funding or when you do not have a product and you find it hard to even project it out there or have the funds to push it, the project eventually becomes dead. This is one thing I have known the blockchain technology to have changed and people with ideas are really taking advantage of it which is why we keep seeing more coins being created, on and on.

The only thing here though is that, there are also some greedy ones who are just out there to scam and really do not have any product to want to give than to cart away with investors fund, which is why it is important to always invest in a project with a product and not an empty promise.

[3lyntmy]

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.

caused no department can control token now

[alex3.alex03]

I think that over time, unnecessary coins, repetitive technically lose their popularity and disappear from the market. Only the strongest will remain.

[davisagughalam]

I totally agree. Most coins have the same goals and functions in mind so why even create new ones doing the same thing. Why create new exchanges when the ones already existing are not even used up to full capacity. I think it stems from greed. They've seen how much money is there to be made by owning some of these projects without minding the impact on the market. If our efforts are more streamlined towards a few coins as you said, we would have much better rewards. United we stand, divided we fall.

[cytpoway121]

The sole reason why there are several people creating more tokens is because they simply want to take advantage of etherum blockchain and popularity to the world, to scam and de fraud people (the naive one).

The self drops and recent projects are 99% scam, they steal whitepaper from 5 projects and make it one for their use
they manipulate websites and build a fraudulent traffic on social media.

there is need for us all to be smart and root out those scams.

[BlackSociety]

Merchants create new coins to attract investors' money, and investors need new coins to earn the difference, which is the current market situation!

[daviidalpert]

Because there are many people who want to make money by creating coins.So there are a lot of scams on the market.I believe that these coins will disappear over time.

[ParabellumLite]

At first I also asked myself, if the market has too much coin, does it dilute the focus of the investor? Because they will feel confused when entering the crypto, but when I watch the stock market, it makes me even more confused.

[andrej.safronov.1990]

I think on the contrary, the engine of development of the market is competition, so for the development of the market we need more projects with a more perfect product, then people will start to actively use these products and this will give an even greater increase of the entire market.

[paulscathedral]

Because it's easy money for scammers. You've read an article that more than 90% of blockchain projects with their own cryptocurrency are scammers who work in this industry only for the sake of money and deception. Now it is very easy to create your own cryptocurrency (90% of the bitcoin code) and promise insane interest in the near future. Very easily.

[alian17]

Many of the new altcoins and tokens are not worth investing. Because no innovative technology has been seen. They have always been the continuation of BTC technology. I hope there is a technology that can break this balance.

[hunnykaushal]

New coins are coming because Blockchain is at their starting phase and as technology grows with time and people comes with more ideas and technology so it will give birth to new coin/token.

Question is who will stay with time in market and who will run.

[lihongjing]

If you want to develop cryptocurrencies, relying on Bitcoin alone is not enough. Different coin generations have different functions, and the features they have may be more acceptable to those who need or are interested. In fact, Altcoin is crucial. Their complexity represents the integrity of the entire community, and the function of these premium coins is recognized by community owners. ETH is the best example.

[Baronggot]

The creation of coins is necessary if there is a need for a project to be tokenized to make it more competitive in the market. The niche of creating token is possible in accordance of the need of people. But sad to say that there are so many tokens now that are almost useless and just polluting the cryptoworld.

[millensharon8]

Ideas are simply endless. When someone thinks of something awesome and it has blockchain applications, there's a good chance that they will creat a coin for it. Though there's a much more common reason that is greed. Some guy will conduct an ICO to get rich overnight and some greedy investor will be trapped and this is an endless cycle.

Yeah, one thing with idea is that they will definitely keep coming and there is nothing we can do about it. Also, ideas are usually recycled anyway, as you tend to see someone coming up with the same idea but a different way to execute the idea or in a better way and as long as they can always convince investors to put in their funds into it, the chances of us seeing more of them will keep increasing and nothing changes much than having a loaded market with coins.