Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
As far as bitcoin is concerned,every one is aware that bitcoin core is the original coin while all the other are just forked coins.So there is no chance of getting scammed even if they have the identical name as bitcoin.
But when concerned about altcoins,there are many scam projects which have the same identical name and those coins with the same name gets launched even at same time with slight interval.out of these coins,one would be unique and performing well delivering new features while the other would be just a shitcoin just having the same name.Most people get scammed by this way.So,we should be aware before buying such coins and we should research the web and see reviews about that coin so that scam coin could be traced and avoided.