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step 1: accumulate a lot of bitcoin step 2: use the accumulated bitcoin to prove your new ICO has a value rooted in an already established coin step 3: offer an
by sova 9y ago
step 1: accumulate a lot of bitcoin
step 2: use the accumulated bitcoin to prove your new ICO has a value rooted in an already established coin
step 3: offer an initial price for the first however-many units of your coin
step 4: get your coin popular enough to be on the exchanges eventually
Bonus points / better chances if your coin does something in a new way, or using the cryptographic puzzle solving step to do something useful like Fold Proteins.
Many ICOs are not at all rooted in BTC.
Something like IOTA is backed by just under 1337 BTC.
Imagine BTC as the gold in fort knox and any new coin you want to make as a currency that needs to be backed in gold, this is my advice.