Bitcoin Forum

Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.

Then why not claim the new coin to be valued 10 on 1?

That's stupid. You can create your own coin and say that its valued 1000times more than bitcoin.
Who will buy that stuff? I guess only the creator of that coin will invest in it. You cannot decide price of a coin yourself. Its the people who decide the price.

Just peg it... Make your own exchange point..

But who will create the buying volume? Who will visit your exchange?  Who will invest money? The coin creator himself wouldn't.

You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard.

Or use a sidechain with a fixed peg.

Either way OP is wrong.

Anyone can claim anything, but that doesn't make it so. Something is worth what a buyer is willing to pay for it. Nothing more. Nothing less.

It all depends on whether you want to buy into or invest on the other altcoins. I think a lot had bad experience before with alts so generally people would be wiser by now. Most of it doesn't last for over a year and eventually the fund will keep pouring back again into bitcoin. The only worry is that bag holders of the altcoins will lose trust in cryptos in general once they got cheated.

That is utter tosh, if that is true, why don't you do it and show us?
You can even keep all of the coins and you have made yourself a few billion.  Unless someone actually calls on you to interchange the token for bitcoin, which you can't, because you don't have them..

Your reasoning would be the same for normal money too, ignore market forces, rates etc, I sa it is worth 1:1, so it is  ???

Don't worry OP. my new MindCoin has a very limited circulation. I just think them up in batches and I have a great deal for you that will assuage your fears about supply.  The exchange rate my mind came up with is 2BTC= 1MC. I will trade you any and all of your worthless, overproduced BTC for my completely hackproof MindCoins! It's your lucky day!!!!111!11!!

Now who should send first?

No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high. The coin creator cannot declare his own price since people wouldn't buy it out because of the fact that it's a new coin and nothing has been proven out of it.

This is ridiculous. You need a big network and volume for a coin to work, so its not a problem.

Nah , It dosen't really matter how much Alternative coin there is out there because they are all cheap copies and Bitcoin is the Original thing . In my opinion they cna do what ever they wants but it will never affects on Bitcoin .

~ Madness

Yeah, 3,600 Bitcoins printed out of thin air mined every day...  No wonder BTC's tanking :'(

Well , thats been happening  since a long time.

^Seems like the keg's dry.  Party's over :(
*you didn't think it was gonna last, did you?

Lol is anyone still taking this troll seriously?  ::)

Ohai srs Monero ^ d00d!

http://s11.postimg.org/3mjw3f5cj/Capture.jpghttp://s24.postimg.org/ctgvy82ad/Untitled_1.gif

Yeah I know. I printed my own monopoly USD notes yesterday, they work just the same as normal USD notes. You can blame me for the latest "whale-dump" on USD.

Hahaha! One does not simply do that. But since you said that you've already done that, can you teach me how to print my own USD notes and strategies on how to dump them?  ;D

You missed a word in it. I have marked it for you.

Very simple. you take a piece of paper and write "$1 million monopoly dollars" on it. Then you go on the internet and create a bunch of shill accounts and start shilling the fuck out of your monopoly dollars. Then you go around to local businesses and continuously nag them to accept monopoly dollars as payment. Because your monopoly USD has the same fundamentals as USD and is interchangeable 1 on 1, you will essentially double the money supply of the real USD, just like the OP proved in this very informative and useful thread.

By the way, this technique works with anything. I made my own "better version" of gold recently and tripled the supply of gold.

This might be the stupidest thing I've read on this forum.... no small feat.

What a stupid thread.

It's not the same coin and the supply doesn't 'magically' add up together. It just doesn't work that way. If people agree that Bitcoin - and only Bitcoin - is worth something, it will be worth something just because of that. Sure, altcoins siphon off a small fraction, but that doesn't change Bitcoins first mover advantage which is most important in this case!

agreed.  but op keeps trying over and over again.

Agreed. There is a limited supply though, and you can't change that.


False.