You Need Thick Skin To Be An Altcoin Developer

So, you plan on creating a new altcoin? Do you think the world is going to embrace your new creation and rush to aid you? It’s possible. In 1% of cases this is exactly what will happen. If you’ve managed to create new technology or have re-packaged the same old idea in a fresh way you might get overwhelming support.

But what about the other coin Devs? You know these guys. They want thier own alternative cryptocurrency. They have copied and pasted their code and created their ANN thread. What can they expect? They should expect a lot of skepticism and a ton of criticism, some of it even totally unfair.

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There’s no way around it anymore. Altcoins are no longer an ‘old boy’s network’ of savvy coin developers. Now the masses have gotten in on the act and they’re creating cryptocurrencies at an astonishing rate. May has seen the rise of the FlashCoin and an acceleration of launches the likes of which has never been witnessed before. This explosion of new altcoins has created a very competitive environment with new coins jockeying for position. Of course these competitors are all placed in the same places, so expect some of them to BASH your new altcoin.

Don’t Fall Into The God-Mode Trap

Don’t Fall Into The God-Mode Trap

There’s no way around this. If you try and moderate your thread, you’ll find the angry people move to other channels and bash you there. They now have additional firepower because they can say you’re a scammer who won’t allow their posts to stand. You need to stand in and answer them, regardless of how annoying it gets. This is the real world online and customer service is expected by EVERYONE, regardless of how small their investment in your cryptocoin may be.

Face facts: you aren’t a God of altcoins just because you’ve released a clone and gave it a name. No one is going to bow down to you. If you’re using a brand new account (this is almost always the case) nobody is exactly sure who you are. They know they may have been scammed by the same ‘Dev‘ in the past. They don’t trust you! Who can blame them? There are many outright ripoffs in Altcoin City. Even more common are the coins that just plain fail due to neglect and incompetence.

When you launch you are saying “trust me, I won’t let you down.” Miners and speculators are spending their time and money to support your launch. If you don’t come through for them they can’t get a positive return. These people are at the very least ‘stakeholders,’ although it really pays to think of them as trusted clients.

Even the skeptical people need some amount of respect. Every time they make an objection about your project, you get a chance to respond. If you can do that in a thoughtful, respectful manner you can win advocates to your side. If you lose your temper and delete their posts, you look like a fool who can’t control his emotions.

Launch Time Is Your Chance To Shine

There’s no better time than during a launch to impress the altcoin loving public. Launches are a fresh start so there’s not much baggage to contend with. If you start off getting the community behind you, your promotion job gets a whole lot easier. If you start conflict with others you can expect some of the support to dry up almost immediately. After all, people have LOTS of choices about which cryptocoins they’re going to support. If you make it easy for them to choose a competitor’s coin over yours, don’t be surprised when you lose out.

If you’re not great at communicating, appoint someone who is! Not everybody is cut out for dealing with the public. You’d be surprised at how rigorous some of the job requirements are for retail sales positions. Surly people are never put in front of customers or stakeholders in the world of business. Why should it be any different for alternative cryptocurrencies?

If you pay attention to pleasing people while ignoring the trolls, you’ll end up winning over the crowd.

Thanks for stopping by and reading. Feel free to sound off below.