Concept
Research
Development
Marketing
Launch


Transcript

00:00    Hi everyone. We are looking at what it takes to make a concept a reality.

Creating a crypto-currency is a big process. It's not just a case of saying "I will make a cryptocurrency and launch it". With thousands of others already in existence, there is a chance that yours will go unnoticed.

We are going to look at the process of bringing your coin to life. This is the way you should work after this course is over. And you are working on your final blockchain.

00:33    The first part of the process is the concept. Without a concept, your coin is dead before it starts. The miners and early masternode holders, are your target market. They demand a "use case" and will often ask you "What makes your coin different to others?". It is an annoyance that most developers have to deal with. Be ready for these questions.

Your masternode rewards could be unique, Such as every block height that has a 7 in it. Could pay out double. Or you give x amount to charity. Whatever it is, try and find a niche.

During the conceptual process, you can work on a name and logo. However, don't focus on this as it can be done much later. People lose so much time focused on the name and images, that the process takes 3 times as long. If this is for your own cryptocurrency, by all means get it right. But if it is for a client. Insist they provide names , imagery etc.

01:38    Research can be done before or after the concept. Sometimes it helps to look at what others are doing. To know what's not been done. Even after you have your idea in mind, a concept can adapt and change.

01:53    It's essential to research other coins that are similar to your idea. Then note down their GitHub repository so you can view their source code. Bitcointalk.org is fantastic for this. Everyday new coins are launched. You can get inspiration and ideas easily.

02:13    Coinmarketcap.com is where you will find the crypto-currencies that are a bit more established. And are listed on exchanges. You can find all the information about them there. And even look at their current value per coin on exchanges. The aim for most developers, is to have their coin listed on coinmarketcap.com. To do this, you will need to be listed on 3 exchanges. These exchanges also need to be listed on coinmarketcap.com. They are often not cheap, so you will need to invest to achieve this.

02:51    Next, and at the heart of the process, is development. This is where you should be focussing your time and energy. There is no point having a great use case. A fantastic name that dazzles. For it then to fall flat on its face a week after launch. It's more common than you think. Spend as much time as you can running test chains and reworking your code. Avoid source code that has produced a chain with errors. Sometime the best chain is the most basic . You can find every coin has a GitHub repository.

When you develop a coin. You have to work in many different environments. Such as Virtual Servers, Ubuntu Virtual Machines, and Windows.  The most common setup for your environment. Is to have 2 monitors running on a Windows PC. Then create a virtual machine within that, to run Ubuntu. Most of your work will be done in Ubuntu. You will create virtual servers for your seeds and masternode. You will require Windows with Ubuntu to cross compile the windows QT.

04:02    Prior to launch, we have to start marketing. The main platforms for marketing your coin are. Facebook.Twitter. And probably the most important, Discord. You will need to create your own Discord server and create a group of miners. Ready to mine your coin. Discord is an amazing platform for this. The miners and potential masternode buyers, will arrive after reading your Announcement on bitcointalk.

04:33    Your ANN or announcement is required on every launch. It is what will bring everyone's attention to your coin. They will follow the link and join your discord channel. There you will engage with them and keep the excitement up during and after launch. Discord is where you will spend your days after the launch. Get a good team of community moderators to help you answer questions so you are not  all alone.

05:00    We are now at the point of launching the coin. We need to make sure we have a few mining pools ready for miners with our coin. An easy way to get mining pools on board, is to pay them in your coin. Offer them the value of 1 block for the 1st 5 mining pools to host your coin. Another option is to create your own mining pool. I will show you how to do that in this program.

Once you have launched, you will need a block explorer. This can be launched just after your coin launches. I will show you how to do this too.

05:38    Then we have exchange listings. There are exchanges that will take your coin for free. But be careful as they are inexperienced and can not be trusted. Look for one that is respectable but affordable. One that shows a history of running for at least a year. A pre-sale of your coin will help you get listed on exchanges. You can sell masternodes to get the bitcoin needed. Be careful when selling your masternodes. You are essentially deciding the value of your coin based on what the node sells for. Don't sell too cheap. This will have a knock on effect. Miners will take the value of 1 coin and decide whether to mine or not. Look at the cost of other new coins.  If a masternode is valued at under 0.3 bitcoin, you will see miners run. Start with 0.5 bitcoin per masternode and reduce later if needed. Getting 2 bitcoin minimum from pre-sales should be your goal. More can be sold on the exchange once listed. When selling, you should also be developing. Or at least letting the community think you are developing something else. Such as an app or something useful.

06:57    So with all that in place, you can launch your coin. It's a lot to take in. And I know it seems a bit daunting now. But once you have been through the process once, it becomes second nature.