Post
Topic
Board Altcoin Discussion
Re: Bitcoin Clones
by
UsernameBitcoin
on 24/04/2015, 08:12:54 UTC
I want to ask something.

There are so many bitcoin clones since it is open source. I also saw cryptonote. And nxt. What do they get by creating a clone? Why not focus all the efforts to bitcoin?


Some coins offer additional features, have different technical specifications, different marketing,etc
Some people make money with creating some scam coin, e.g. they pre-mine coins, create some hype, sell their coins quickly.
Others just enjoy creating their own currency.
There are many reasons to create a new coin - legit and shady motivations.

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Also, how much does it cost to create a new coin?


If you do everything on your own, nothing. There are websites offering the creation of your own coin. I think it's just around 0.1 btc.

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Also, if I have, say 20 bitcoins, and buy some clone with a low market cap, now I have a big share, will it drive the price up?

If you buy the coins of an almost dead coin and no one cares, no. Some people will just be happy to get finally rid of their trash.
If there are a few people who think "wow, this is the great rebirth of this wonderful shitcoin, I should buy some more", maybe. However, the price might alraedy go up when start buying.
But then, what do you do with the coins of this dead currency?