<p>Many other crypto currencies are inspired by bitcoin, but have a goal that differentiates them from bitcoin. For example, litecoin was design to combat the development of ASICs, so that people with regular computer hardware can mine them. Namecoins provide secure key-value pair storage, and devcoins are somehow used to fund open source endeavors. Others just want to piggy back on the success of bitcoin. </p>

<p>The success and sustainability of these other currencies (often called altcoins) depends on whether or not you can convince others that they are valuable. For example, Namecoins are gaining popularity because you can buy .bit domain names with them. </p>

<p>Many altcoins will likely remain worthless forever, but people will assign a value to some, and those may be sustainable. </p>

CC BY-SA 3.0
2014-01-11T05:25:18.243Z
2014-01-11T05:25:18.243Z
Owen Johnson
<p>Also,basically,the creators of the new coins are hoping that they will become popular so that they can sell their coins for a profit.</p>

CC BY-SA 3.0
2014-01-11T20:02:38.063Z
True that they are hoping for their coins to become popular. But what will be the reality? If every coin going to succeed, then everyone start their own. So just wondering how many of them going to survive (5 or 10 or 15?)
ghalways
CC BY-SA 3.0
2014-01-11T07:31:41.800Z
2014-01-11T07:31:41.800Z
Daniel Victor
<p>Many altcoins will likely remain worthless forever, but people will assign a value to some, and those may be sustainable.</p>

CC BY-SA 3.0
2014-01-11T08:51:36.310Z
2014-01-11T08:51:36.310Z
user12067
<p>I wonder why people are creating so many crypto currencies and how many of them may sustain? Can anyone here predict what is going to happen? (Not asking to predict what coins are going to sustain as no one would know answer to that).</p>

<bitcoin-economy>
Why are people creating so many coins and can all of them sustain?
ghalways
# Why are people creating so many coins and can all of them sustain?

(Asked by: username_0 on 2014-01-11)

I wonder why people are creating so many crypto currencies and how many of them may sustain? Can anyone here predict what is going to happen? (Not asking to predict what coins are going to sustain as no one would know answer to that).

**Tags:** bitcoin-economy


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## 3 answers

### Answer by username_1 on 2014-01-11. Score: 2

Many other crypto currencies are inspired by bitcoin, but have a goal that differentiates them from bitcoin. For example, litecoin was design to combat the development of ASICs, so that people with regular computer hardware can mine them. Namecoins provide secure key-value pair storage, and devcoins are somehow used to fund open source endeavors. Others just want to piggy back on the success of bitcoin.

The success and sustainability of these other currencies (often called altcoins) depends on whether or not you can convince others that they are valuable. For example, Namecoins are gaining popularity because you can buy .bit domain names with them.

Many altcoins will likely remain worthless forever, but people will assign a value to some, and those may be sustainable.


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### Answer by username_2 on 2014-01-11. Score: 0

Also,basically,the creators of the new coins are hoping that they will become popular so that they can sell their coins for a profit.

> **Comments:**
> **username_0**: True that they are hoping for their coins to become popular. But what will be the reality? If every coin going to succeed, then everyone start their own. So just wondering how many of them going to survive (5 or 10 or 15?)  

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### Answer by username_3 on 2014-01-11. Score: 0

Many altcoins will likely remain worthless forever, but people will assign a value to some, and those may be sustainable.


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