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Author Topic: Just as there many Currencies. Could there be more than one Bitcoin.  (Read 792 times)
Possum
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July 19, 2011, 10:46:11 AM
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Hi

Could I take the open source code and make another Bitcoin. We might call it OurLocalCommunityCoin. In this situation this coin would work for local people and be adapted to the immediate environment. This is in no way to be seen as a challenger to Bitcoin. But a complementing currency that could have a real time link to bitcoin. I believe such a coin would find a stable long term value quickly and be accepted by local people more readily than Bitcoin.

Also I can not think of a better way of spreading the word about Bitcoin.

Your Thoughts Please..
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July 19, 2011, 10:50:07 AM
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Yes, my new currency is called the ChickCoin. Each one is worth 200USD and we are giving out 20,000 free ChickCoins today!

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July 19, 2011, 11:00:47 AM
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Yes, my new currency is called the ChickCoin.

I will try it again. Can I take the Bitcoin code and create a separate coin from Bitcoin. Or would there be a clash of logic. Like "There can Only be One".
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July 19, 2011, 11:05:04 AM
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Yes, my new currency is called the ChickCoin.

I will try it again. Can I take the Bitcoin code and create a separate coin from Bitcoin. Or would there be a clash of logic. Like "There can Only be One".
From a technical point of view, you can do that (see Namecoin for example, or the bitcoin testnet). Whether it makes sense is another story.

My tip jar: 13kwqR7B4WcSAJCYJH1eXQcxG5vVUwKAqY
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July 19, 2011, 12:52:27 PM
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Can I take the Bitcoin code and create a separate coin from Bitcoin. Or would there be a clash of logic
You can take the Bitcoin code and create a separate coin (i.e. a new block chain), but you will need to make some changes including coding a new genesis block. You will also want to change filenames, IRC ports, etc, so that Bitcoin and your coin can coexist on the same computer.
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July 19, 2011, 04:33:40 PM
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Yes, my new currency is called the ChickCoin.

I will try it again. Can I take the Bitcoin code and create a separate coin from Bitcoin. Or would there be a clash of logic. Like "There can Only be One".
It can be done badly or it can be done well, it's up to you. Just remember, fundamentally your currency is not secure until you reach the point where you have enough hashing power than at attacker cannot easily become the majority of your your hashing power.

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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