What will happen if we create another bitcoin?

[TzikakioS]

What will happen if we create another bitcoin?

[jeannemadrigal2]

I don't understand, there are already lots of alt coins.  Litecoin is almost the same thing as bitcoin, but with a different algo and faster confirmation time.  Do you mean just a straight up bitcoin clone?  It doesnt matter, there are already too many people invested in bitcoins.  I think that you can look at it, at least for now, that bitcoin is gold, litecoin is silver, and everything else is, idk,, corn or something.

[tonycamp]

the bitcoin II will porb worth like per unit the same but its more like 4 billions decentralized  dollars money

[thebitcoinjedi]

The world will explode, that's what will happen

[TzikakioS]

The only way for a parallel bitcoin to succeed is to have more value than the previous.

In order to have this value investors must believe in it and devs must be very focused and innovative and "sell" this initiative as a bitcoin without flaws.

It might gain some momentum and be competitive because it'd have the same brandname, but I really don't think that could ever outpace the original bitcoin.

Nevertheless, I think it could be a cool experiment.

[coinableS]

I'm not sure I understand the point or purpose behind this?
Like mentioned above, there are already many many many altcoins that have tried to do the same.
There can only be one bitcoin.

[ed_teech]

Brilliant idea !

Oh, 4000 people already came up with it.

[bitcoin1900]

Brilliant idea !

Oh, 4000 people already came up with it.

He meant if someone created another altcoin called bitcoin and made everything the same.

[melisande]

A lot of people have thought of that idea but they forgot that a coin gets better as it grow older and gets wide acceptance. I have heard of bitcoin scrypt but that is no more.

[worldinacoin]

Nothing will happen, it will be just like another alt coin to be pumped and dumped and thats it.

[gogxmagog]

Brilliant idea !

Oh, 4000 people already came up with it.

He meant if someone created another altcoin called bitcoin and made everything the same.

You mean... Go get the client code, build a coin with the wallet template, convince someone to download it and set it up, then sell them some of your alt that you have named BTC? A forgery BTC?
It would be tricky to set up the victims, they would have to be 100% unfamiliar with BTC in general. But I suppose it could be done and someone will probably try it.

[tommorisonwebdesign]

It's been done so many times already. I don't think anything is is going to take over Bitcoin. I am not exactly sure what you mean by another bitcoin, since so many other altcoins exist.

[Borisz]

What will happen if we create another bitcoin?

What you mean what will happen? Creating an altcoin
Bitcoin was the first, that is why it is more mainstream than all the rest. The rest is mainly just people trying to create more fictional money after hearing about Satoshi's initial BTC stash.

[Kakmakr]

"There can only be one!" quote from Highlander ;-> Now that reveals my age, or not.
People are already trying it with Bitcoin XT and all the other Alt Coins based on the Blockchain out there. It's not a new idea.
Even the big financial institutions are getting in on the action, with the development and investment of millions of dollars into their own
copy of the blockchain technology. 

Bitcoin had lots of little babies, called Alt coins. One day they will grow big and they will take over from Big Daddy.

[btc_enigma]

Nothing will happen. You will be the only one using it

[avatar_kiyoshi]

You can't create another bitcoin, because bitcoin is only one, and the first cryptocurrency, you only can create an altcoin.

[tiggytomb]

You can find out the answer by taking a quick look in the altcoin section of the forum, many many Bitcoin variations have been created.

[alva5763]

The problem with any cryptocurrency is to have people believe it has and will continue to have value.

[RodeoX]

Brilliant idea !

Oh, 4000 people already came up with it.

He meant if someone created another altcoin called bitcoin and made everything the same.

You mean... Go get the client code, build a coin with the wallet template, convince someone to download it and set it up, then sell them some of your alt that you have named BTC? A forgery BTC?
It would be tricky to set up the victims, they would have to be 100% unfamiliar with BTC in general. But I suppose it could be done and someone will probably try it.

And it would have to be a grand scheme. It would need it's own blockchain and peers running. It would only work on a victim who knows how to use bitcoin but has never used it before. They would have to see things like a 20MB blockchain and say "Ok, that looks good".

A greater danger might be software that looks like a wallet but carries a standard payload of malware. 

[tokeweed]

What will happen if we create another bitcoin?

Ask Gavin.