As being new here in the world of crypto I want to ask something. We all knows that the great crypto now a days is bitcoin but my question is if bitcoin is the mother of all coins, do you think what is the reason why many people in the world make thier own coins and now there are many altcoin?
Anyone knows who is the creator of ethereum and what is the purpose of ethereum in the crypto world?
Anyone knows who is the creator of ethereum and what is the purpose of ethereum in the crypto world?
Companies were making their own coins even before bitcoin. They weren't mineable crypto coins but they were still coins. The most common example is your Steam balance. You can't convert your steam balance directly to USD (1:1) but you can do it if you sell your account to some other people. (He'll probably pay less than what you have in your balance)
Paypal balance is the same.
Now every company like these I mentioned have a chance to print their own coins. They can adjust the specs according to their needs. (Mineable? Pegged to USD? Premined?)
Imagine Pepsi Cola prints its own coins and sells its product for 5 Pepsi Coins and nothing else. What would be the price of a 1 Pepsi Coin? *0.2 Pepsi Cola
*More coins isn't something you should be scared of. Bitcoin is the king and any altcoin you see is backed by Bitcoin at this point. Why? Because when bitcoin goes down, they go down. Everybody who hold altcoins/mine altcoins do expect to get more bitcoins in return.