Nice site OP! Do you plan to include CPU based algo's in the future?
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Why is it a bad thing that anyone can create their own currency to be used for whatever purpose? Each one expands the crypto-economy into a very diverse global network. If anything this decentralization of currency/money/stock (which I just call bitcoin collectively anymore (not the branded Bitcoin), as none of those 3 words accurately describe it) is exactly what the bitcoin protocol set out to accomplish. I am not quite sure why everyone has a problem with that. This is open source at its finest.
Anyone thinking simply using this site and their clone becoming the next Bitcoin is far deluded, to be sure. 100s of altcoins already exist of varying prospects good , non-existent, or terrible.
The existence of CoinYe is one borne of the fad mentality like Dogecoin and others, and in the grand scheme of things will likely go nowhere. But what if CoinYe is someday the exclusive way to buy Kanye West albums, and Doge is the default currency of 4chan and other meme-culture sites. A longshot perhaps, but not off the table either. Each can be it's own unique sub-economy.
However, with a real
purpose behind it, makes great starting material for a Digital Autonomous Company. A clone by itself is quite useless, but can be used as a placeholder coin to estimate the BTC value of a new idea or needed service. Invictus Innovations is using this model (and basically invented it as far as I am aware) by releasing Protoshares as an early stake in Bitshares and other DACs they develop. Protoshares itself is not meant to be anything special or ground-breaking, just a means of market/investor interest and and project funding should the idea of it be potentially worth something. At the time of BitShares release, Protoshares will be exchanged for the real article. As Protoshares are doing fairly well, it means people buying them have faith in their efforts, and that faith may be rewarded backed by a great new service that Bitcoin needs, like BitShares.
http://letstalkbitcoin.com/dac-revisited/#.Us0UrfRDujZNo different than buying early stocks in an innovative new company seeking funding. Also no different is if the devs/company/idea fails to take off, the stocks are worthless just the same. In my eyes cryptocoins are much more than simple replacements for fiat currency. Much more. Each coin when wielded properly can become the basis for something much more than "yet another Altcoin" of unclear purpose beyond existing.
Bitcoin is just the first widely used beta test of blockchain technology, we need to get over that fact and embrace what comes next in the form of a multi-faceted digital economy built of 100s of independent networks that operate with no borders or central institutions. With Open Transactions, Coloredcoins, BitShares, and other decentralized exchange platforms, the possibilities are endless.
