Need opinion about starting the exact copy of bitcoin.

[Jijothomas]

I am planning to start a coin with exact copy of bitcoin specification. Please share your opinion.

Regards,

[kc.]

Why would you?

[Jijothomas]

Why would you?

The total price of bitcoin mining hardwares in market will be millions and the bitcoin mining difficulty is going higher and higher. 

[kolesozw]

Why would you?

The total price of bitcoin mining hardwares in market will be millions and the bitcoin mining difficulty is going higher and higher. 

There is some logic in it. But why to you want to run exact copy? Why don't you just develop a SHA-256 based coin to use the hardware, but having some innovation?

[Jijothomas]

Why would you?

The total price of bitcoin mining hardwares in market will be millions and the bitcoin mining difficulty is going higher and higher. 

There is some logic in it. But why to you want to run exact copy? Why don't you just develop a SHA-256 based coin to use the hardware, but having some innovation?

Adding more features will be difficult and people accepted the bitcoin with its existing features.

[ven_bug_trap]

Why would you?

The total price of bitcoin mining hardwares in market will be millions and the bitcoin mining difficulty is going higher and higher. 

There is some logic in it. But why to you want to run exact copy? Why don't you just develop a SHA-256 based coin to use the hardware, but having some innovation?

Presumably because innovating is difficult, and making an exact copy is easy. Not trying to bash OP, but I'm assuming you're doing this for quick monetary gains, right? My question would be why do you think this coin will gain any value at all? IMO there are far better coins than Bitcoin that are getting far less recognition, so I don't see how an exact copy could succeed.

[Jijothomas]

Why would you?

The total price of bitcoin mining hardwares in market will be millions and the bitcoin mining difficulty is going higher and higher. 

There is some logic in it. But why to you want to run exact copy? Why don't you just develop a SHA-256 based coin to use the hardware, but having some innovation?

Presumably because innovating is difficult, and making an exact copy is easy. Not trying to bash OP, but I'm assuming you're doing this for quick monetary gains, right? My question would be why do you think this coin will gain any value at all? IMO there are far better coins than Bitcoin that are getting far less recognition, so I don't see how an exact copy could succeed.

For a normal person buying 1 bitcoin will be difficult.

For a normal person mining bitcoin is difficult.

So he is looking for next option and he can see thousands of coins. In this case if there is coin with exact copy of bitcoin with good supporters defiantly  he will choose it.

[ven_bug_trap]

Why not use Litecoin? I don't know a huge amount about it but from what I've seen, it just seems to be a faster, more secure version of Bitcoin. Someone correct me if I'm wrong but it seems to me that if people are intimidated by Bitcoin's price, they might as well just buy Litecoin, which is also seen as more "beginner-friendly". As for mining difficulty, this new clone would have the same vulnerability to ASICs as Bitcoin, so you'd be better off going with something with ASIC resistance like Monero, which you can mine on a GPU.

[Ayers]

Why would you?

The total price of bitcoin mining hardwares in market will be millions and the bitcoin mining difficulty is going higher and higher. 

There is some logic in it. But why to you want to run exact copy? Why don't you just develop a SHA-256 based coin to use the hardware, but having some innovation?

Adding more features will be difficult and people accepted the bitcoin with its existing features.

i understand your reason behind this project but at least change something like the old difficult retagret because it's not situed for low amount of hashrate, it work for bitcoin because the network is very big there, but as an altcoin it would not work pool hoping would destroy your coin, and maybe do it with a new algo so gpu mining is relevant and not asic only

[talkbitcoin]

...
For a normal person buying 1 bitcoin will be difficult.

For a normal person mining bitcoin is difficult.

So he is looking for next option and he can see thousands of coins. In this case if there is coin with exact copy of bitcoin with good supporters defiantly  he will choose it.

no that is your assumption and it is wrong and unfortunately this is a wrong assumption that is being used in the altcoin market to dump on newbies who continue being a bag holder and even buy more even though prices are going down.

if you create an exact copy of bitcoin nobody will use it. you will only get some temporary pump and dumpers and some attention in the exchanges and have the coin dead in no time.

bitcoin is not good just simply because of the code. it is good because millions are using it. there are lots of nodes, a huge hashrate behind it and all of these are securing the chain. there are lots of years behind it that led to a big adoption by lots of merchants where you can go and securely spend money.

there are many good developers working on bitcoin and the code has been reviewed numerous times.

[Mallyx]

...
For a normal person buying 1 bitcoin will be difficult.

For a normal person mining bitcoin is difficult.

So he is looking for next option and he can see thousands of coins. In this case if there is coin with exact copy of bitcoin with good supporters defiantly  he will choose it.

no that is your assumption and it is wrong and unfortunately this is a wrong assumption that is being used in the altcoin market to dump on newbies who continue being a bag holder and even buy more even though prices are going down.

if you create an exact copy of bitcoin nobody will use it. you will only get some temporary pump and dumpers and some attention in the exchanges and have the coin dead in no time.

bitcoin is not good just simply because of the code. it is good because millions are using it. there are lots of nodes, a huge hashrate behind it and all of these are securing the chain. there are lots of years behind it that led to a big adoption by lots of merchants where you can go and securely spend money.

there are many good developers working on bitcoin and the code has been reviewed numerous times.

For a BTC copy with Segwit, new algo, etc... : https://bitcointalk.org/index.php?topic=1883902.0

[sp_skeptic]

Somebody already did that (in 2011). It's called ixcoin. Market cap ~ $600K. No reason to think your coin would do any better.

All viable altcoins have some variation from Bitcoin that is supposed to make them "better" than Bitcoin in some respect, and some of them are probably actually better conceived than Bitcoin. But Bitcoin has the first mover advantage that is very difficult to overcome. A new coin that copies Bitcoin exactly will appeal to nobody.

[chineseprancing]

Don't try to copy the bitcoin, because if you copy the exact bitcoin you were in jail due to piracy of ideas. Also I believe that you cannot copy the exact bitcoin. However if you copy the exact bitcoin, the question is who entertain the copyright Bitcoin?

[MysticOne]

I am planning to start a coin with exact copy of bitcoin specification. Please share your opinion.

Regards,

   You are not the first one to have this idea and you won't be the last. The others have failed and I am thinking your attempt will probably fail as well. If you were smart you would invest your time creating an alt-coin that improves upon the existing platform. Why would people choose your coin instead of the real btc? What is your objectives on doing so? To give people a chance that missed out? There are many more opportunities out there right now that are much better than an exact duplicate of btc.

[The Sceptical Chymist]

Yeah, I'm thinking about starting an exact copy of Coca-Cola.  Going to have the same ingredients but a different can.  How do you think that's going to work out?  And if you answer that question correctly, apply the answer to the thing you're talking about.

Aren't most of these shitcoins code-clones of bitcoin or litecoin anyway?  I must admit ignorance, as I am not a coder and have never studied computer science.  There are hundreds of them out there with so little innovation that it would seem that they'd have to be very, very similar in their code.

[sotoshihero]

Why copy bitcoin when there are many crypto coins already flooding the market with the same features  like they had been forked from bitcoin. I think  a good idea is you must start a whole new concept of cryptocurrency that will create a unique demand so that people will have an option from bitcoin,eth platform,waves platform nxt etc. You need to brainstorm on this and try to innovate how it will work etc IMHO.

[X-ray]

I am planning to start a coin with exact copy of bitcoin specification. Please share your opinion.

Regards,

Too many the bitcoin copy in this day and all of them go wrong. But my question what is the purpose to make a copy of bitcoin if we already had an original one? It doesn't make sense for me.
I think it's bad to make another shit copy of bitcoin.

[Faiyz]

Why copy bitcoin when there are many crypto coins already flooding the market with the same features  like they had been forked from bitcoin. I think  a good idea is you must start a whole new concept of cryptocurrency that will create a unique demand so that people will have an option from bitcoin,eth platform,waves platform nxt etc. You need to brainstorm on this and try to innovate how it will work etc IMHO.

yeah thats why they are cold alt coins because they are like btc that is being mind. And if you are smart enough on cryptography then you're gonna need some investors and it takes years just to start a project on coins. Investors that can also become your advertisement and it's not like you can do it alone some has teams of expert coders and hackers. And offcourse patience and sacrifices.

[dissident]

NEM, ETH, and XRP are the future. No need to do what's already been done 300 times.   Most early altcoins already did what you suggested.

[Spoetnik]

Why not use Litecoin? I don't know a huge amount about it but from what I've seen, it just seems to be a faster, more secure version of Bitcoin. Someone correct me if I'm wrong but it seems to me that if people are intimidated by Bitcoin's price, they might as well just buy Litecoin, which is also seen as more "beginner-friendly". As for mining difficulty, this new clone would have the same vulnerability to ASICs as Bitcoin, so you'd be better off going with something with ASIC resistance like Monero, which you can mine on a GPU.

If you can GPU mine it.. you can ASIC mine it.
FPGA's or what ever are programmable to do the task i am pretty sure.

LTC was a stop gap.. it was intended to buy some time etc.
Not sure the dev's figured it would be permanently ASIC resistant.

Innovation is not changing the settings of the coin and relaunching either guys.
Innovation would be improving on the block chain concept with a new system.
No one ever has.. they simply side stepped the problem and made ledgers or ICO's.
A massive step in reverse (not an improvment)

If some newb twat wants to make a coin then go hard.
The world doing this for 8+ years before he showed up will have their say.

Rebooting BTC is a dumb idea.