If you go to
www.coinmarketcap.com/new/ , you will see that there are new coins added EVERYDAY..
and they have a decent market cap worth 1000's of dollars..
How do people just make there own coins that easy? and how are they raising so much money??
i mean like, whats stopping a normal person like me, doing the same thing.. just making a random coin and making thousands of dollars??
this is so stupid.. what is the need for all these useless coins?? when is it gonna stop?
Firstly, being listed on cmc isn't that easy since certain coin/token needs to meet its requirements like being listed in an exchange site and circulating supply.
You can read their methodology here.
https://coinmarketcap.com/methodology/While it's indeed that we have tons of coins/tokens that actually congesting the market yet only those that are solid and established will remain and some will eventually die. So don't bother to create one just to make thousands ( if ever they will ) as it's just a waste of time.
Most of those coins listed in cmc has no trading volume anymore.
They managed to get their coin listed while they are fresh in the market.
They can always create new ones but they can't maintain its life in the market.
If there's no solid application for that coin, it will eventually die once the traders got tired of it.
Everyday you can see a new coin, on the other hand, a lot of old projects are dying every single day.
