Absolutely nothing stopping you. Imagine a newcomer hears about both though. The older one will have a larger community, more development, more shops, more nodes, etc. To lure people to yours something will probably have to be different.
A new one will have the benefit of quicker generation for an individual. This is offset by the lower value of them, but there's still something to be said for the psychological rewards of consistent generation. Although maybe it would get boring to quickly generate cheaper coins compared to the thrill I just got randomly getting my second generation in a week, worth about $4 I suppose.
Topic: competing bitcoins - page 3. (Read 20780 times)
Hi all, I'm new here. I was wondering if someone can answer me this question:
What is to stop another consortium of users establishing another bitcoin style cryptocurrency with their own limit of coins (say also 21,000,000) called for example myCoin?
myCoins would presumably be as valuable as bitcoins. And yourCoins, herCoins, hisCoins etc. And no upper limit on the number of such cryptocoins.
apologies if this has been asked and answered before.
What is to stop another consortium of users establishing another bitcoin style cryptocurrency with their own limit of coins (say also 21,000,000) called for example myCoin?
myCoins would presumably be as valuable as bitcoins. And yourCoins, herCoins, hisCoins etc. And no upper limit on the number of such cryptocoins.
apologies if this has been asked and answered before.
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