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Author Topic: How can a new coin break-in and be a big success?  (Read 2677 times)
ITGeniusGuru
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April 21, 2014, 12:36:00 AM
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And so - like so many others - I am thinking of launching my own SHA-256 coin, and so I was doing some research and reading altcoin threads.
I see the field already very crowded. Anyone can now launch a new coin.
I considered coingen.io to get started, but saw that it has bad reviews and limitations.
- Is there a better automated way to create a coin?
- I would like to get your feedback on what constitutes a successful launch of a new coin and what is needed to create demand for it?
- Anyone out there with development/bitcoin experience who'd like to partner with me?

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V8x8d
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April 21, 2014, 12:44:00 AM
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Unless it's going to be innovative don't bother.
lostmojo
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April 21, 2014, 12:57:19 AM
 #3

more coingen shit. what will you do when the coin forks or needs updates? Huh

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April 21, 2014, 01:35:51 AM
 #4

I see a lot of clones claiming "innovation."  What generally constitutes innovation?

Supp'd up apps for smart phones?
More coins than any other (or less)?
Longer times to the halving points (or more)?
A catchy name?

What's the biggest room in the world?  Room for improvement.

But what can be improved on, in respect to altcoins.  What options are there? 

Unless you have a deep understanding of cryptography and how the whole thing works, why do people think they can make a coin that's better than the original, using the originals work?

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April 21, 2014, 01:40:43 AM
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by making all celebs , enterpreneurs , politicians to use that coin Tongue

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April 21, 2014, 01:50:42 AM
 #6

a coin that is actually good for something except trading and gambling would be something people would pay attention to. unfortunately, today's technology makes it impossible to create such a coin.

◯ ◯ ◯ ◯

>>>>>> LAUNCHED: RAPECOIN - YOU CAN'T SAY NO TO THIS COIN <<<<<<

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ITGeniusGuru
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April 21, 2014, 01:55:28 AM
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why do people think they can make a coin that's better than the original, using the originals work?

Because Bitcoin has limitations and disadvantages that hamper its worldwide acceptance as a payment tool:
Bitcoins Are Not Widely Accepted
Wallets Can Be Lost
Bitcoin Valuation Fluctuates
No Buyer Protection
Risk of Unknown Technical Flaws
Built in Deflation
No Physical Form
No Valuation Guarantee

I was a non-believer, until I paid for an item from a Chinese manufacturer with bitcoin online. No bank wire transfer, no exorbitant fees, and immediate transfer of payment. This can be the way all international trade can be done in the future. But only if the buyer can trust the seller will deliver, and not screw him over.

Perhaps, the biggest limitation I see is its limited supply that will end in 2140. What will happen when no more coins are minted and miners lose every incentive to keep mining? Transaction fees will not be enough to pay for expensive ASICs.

Is there room for improvement here?

Is there room for a new BETTER coin than Bitcoin?

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April 21, 2014, 01:57:44 AM
 #8



I'd be happy to make a coin, if only for pump and dump reasons  Cheesy




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April 21, 2014, 02:20:17 AM
 #9

I don't think a coingen coin can be a big success now. You need to add new innovation or find a group that could make the coin useful. If you own a business and could use the coins to purchase goods from that business, that could be one way.

I don't think you can just use an autocode service and put on a meme or unusual name and expect it to be a big success. If you can't code I don't think you should make a coin.

ITGeniusGuru
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April 21, 2014, 02:42:26 AM
 #10

If you can't code I don't think you should make a coin.

Agreed... or get a developer/coder on my team.
That's also why I am not going to use coingen.
I believe a successful coin will need a team effort. Bitcoin itself took 2 years (2009 - 2011) and the work of developers from around the world, to get where it is now.
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April 21, 2014, 02:47:30 AM
 #11

Its got to have a couple things

1. Fair launch
2. Something different, something innovative, something useful
3. Community support
4. Active dev(s)
5. Time

pokerknave
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Giving away aesthetically pleasing coins to anyone


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April 21, 2014, 03:13:19 AM
 #12

And so - like so many others - I am thinking of launching my own SHA-256 coin, and so I was doing some research and reading altcoin threads.
I see the field already very crowded. Anyone can now launch a new coin.
I considered coingen.io to get started, but saw that it has bad reviews and limitations.
- Is there a better automated way to create a coin?
- I would like to get your feedback on what constitutes a successful launch of a new coin and what is needed to create demand for it?
- Anyone out there with development/bitcoin experience who'd like to partner with me?



After much thought and purchasing of bitcoins which is basically a mathematical equation, I spoke to others and thought why not do it as a form of artistic expression since maths can help create art.

For us it is a good enough reason as any....

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activecoin
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April 21, 2014, 05:30:53 AM
 #13

by making all celebs , enterpreneurs , politicians to use that coin Tongue

This is it, with a coder next to you that can take care of the developing department, the community needs to be built around the network, you need to have some type of exposure that can lift you above network failure, if you can get a celeb or politician to use it then you would get alot of other user's that come with them.

Wilburbone
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April 21, 2014, 07:14:11 AM
 #14

Looks to me like all you need is a nice looking logo and a relatively large community of sheeple.
HarryPotterCoin
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April 22, 2014, 06:50:45 AM
 #15

I think there are two ways:

Method 1: create your own algo, a totally new one; and/or adding a totally new function, such as darksend

Method 2: have a real business model to put your coins into real life usage.
ITGeniusGuru
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April 22, 2014, 03:47:19 PM
 #16

with a coder next to you that can take care of the developing department

Turns-out: easier said than done. All potential developers I contacted thru this forum were more interested in discouraging me from creating my coin, than offering advice or some help.

Anyone knows, if the source code for an altcoin is available online? Maybe I can start with that and modify it to meet my needs?
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April 22, 2014, 03:49:44 PM
 #17

with a coder next to you that can take care of the developing department

Turns-out: easier said than done. All potential developers I contacted thru this forum were more interested in discouraging me from creating my coin, than offering advice or some help.
Because your "idea" is downright ridiculous and stupid.

Anyone knows, if the source code for an altcoin is available online? Maybe I can start with that and modify it to meet my needs?
Anyone with a clue wouldn't be asking this.

ITGeniusGuru
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April 22, 2014, 03:51:51 PM
 #18

Method 1: create your own algo, a totally new one; and/or adding a totally new function, such as darksend
Method 2: have a real business model to put your coins into real life usage.

Method 1: I was watching yesterday a youtube video: an interview with the creator of Litecoin (he now works for coinbase). Brilliant guy and I am nowhere near as bright as he is!! Grin
Method 2: I have some - what I think - are some good ideas.
For now, still stumbling on the technical (coding) aspect of it.
crunchynut
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April 22, 2014, 04:06:56 PM
 #19

with a coder next to you that can take care of the developing department

Turns-out: easier said than done. All potential developers I contacted thru this forum were more interested in discouraging me from creating my coin, than offering advice or some help.

Anyone knows, if the source code for an altcoin is available online? Maybe I can start with that and modify it to meet my needs?

i can sell you the rapecoin source code. 2 btc if you promise to keep the copyright notice in case you're releasing your own coin.

◯ ◯ ◯ ◯

>>>>>> LAUNCHED: RAPECOIN - YOU CAN'T SAY NO TO THIS COIN <<<<<<

◯ ◯ ◯ ◯
ITGeniusGuru
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April 22, 2014, 04:49:41 PM
 #20

i can sell you the rapecoin source code. 2 btc if you promise to keep the copyright notice in case you're releasing your own coin.

Sent you PM.
Where does the copyright notice appear? Is it only in the code, or also in "About" in the wallet client? elsewhere?
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