Why the people creates a lot of alt coins?

[LordCoder]

That's one question I don't understand
I see there are thousands of alternative coins and most of them are forgotten or just not being used anymore.

Any logic reason?

[marine4u]

That's one question I don't understand
I see there are thousands of alternative coins and most of them are forgotten or just not being used anymore.

Any logic reason?

Its fun and challenging.

[Gleb Gamow]

That's one question I don't understand
I see there are thousands of alternative coins and most of them are forgotten or just not being used anymore.

Any logic reason?

I believe most are developed while in a pump-and-dump stat-o'-mind. But, that doesn't need to be the case. Soon, new alts will break out outta said mindset and will be able to preform under their own merits. Some will perform better than others based on their fan base or how heavily they're promoted (sometimes both). A lesser know entity backing an alt could easily out-perform a well-known entity backing their coin, again depending on the mindset of their respective dedicated fan base, coupled with marketing. Apologies for stating the same thing twice, but it was worth repeating.

I see alt-coins obscurely named after animals, colors, memes, etc.. pre-mined, mega coins mined per minute or less, unlimited or hundreds of billions market cap (mined, not value), based on some Z-17, et al. algorithms, going the way of the dinosaurs.

Don't get me wrong, with everything currently wrong with the alt coin space we're experiencing, a lot of leg work was already done to glean valuable information from so that future alts would have a better chance of surviving and bettering humanity on some level.

[Brilliantrocket]

Primarily to separate the intellectually deficient from their BTC.

[Taras]

Premining is a significant incentive. Sometimes premined coins make it into the seven figure market cap club, and the original creator may sometimes never have to work again.

[coinsolidation]

"Who benefits?" is a fair question to ask.

With IPO and premine the answer is quite clear.

But, I think it runs deeper, let us consider some alternatives.

Rig rental companies, or those who lease rigs may benefit. Each coin generates multiple rig rentals, and you may notice that the pricing structure for rig leases are normally significantly higher for short term leases.

Exchanges, new alts have significant trading volume, the fee's can amount to more than it costs to create a coin. Especially if you create and pump it yourself.

We could also consider all of the above.

If you own an exchange, are familiar with coin code bases, have multiple rigs and pools under your control, and can get an IPO, premine, or instamine, then your return on investment can be ridiculously high.

It is fair to consider that a new alt, launched with only a gimmick and block chain configuration must have a motive for doing so, especially when there is no clear scam (no ipo or suchlike).

Sometimes it may not be about getting a profit, but more about ensuring a no loss, or at least some ROI on hardware investment.

[Equate]

That's one question I don't understand
I see there are thousands of alternative coins and most of them are forgotten or just not being used anymore.

Any logic reason?

All these coins that pop out on daily basis are just money driven , launch them and get them on exchanges and dump as soon as possible. Next day , make another coin and repeat the cycle.

[Momimaus]

There is just one reason.  Some people invested a lot of money in mining equipment. So when people are not buying the shitcoin they are mining anymore, they need new coins.

mine --> dump --> new coin --> mine --> dump................................

[lynn_402]

Other than for the reasons mentionned above, many coins seem to be developped purely as a thought exercise by a developper, which has a bonus gives the potential of good profits. Especially those who try new algos or technology with their coin.

[tokeweed]

That's one question I don't understand
I see there are thousands of alternative coins and most of them are forgotten or just not being used anymore.

Any logic reason?

profit.