Microsoftcoin, Googlecoin, Intelcoin, Dellcoin, IBMcoin, etc

[bgmc]

This is something I don't really get. It makes complete sense to me for any one of the major IT companies to develop a coin. With how easy it is to develop (a single person can make the whole thing), it would require extremely limited resources for the company, but would have great potential for producing profit.

What is preventing Google from spending a few thousand dollars to produce Googlecoin? Or Microsoft, they have billions! They could easily produce their Microsoftcoin and market it to the masses. And if a large tech company like Microsoft were to do this, then I'm certain we'd finally have a coin on our hands that would rival bitcoin.

[lajz99]

How do you know they aren't?

[markm]

How are they going to secure their blockchain?

Bitcoin is INSANELY expensive to secure, not only do miners get paid every coin ever minted, but they get transaction fees on top of that too!

That leaves less than nothing for the country or company "issuing" the coin. In effect its not their coin at all, it is issued by random miners all over the world, not by them at all.

That is utterly insane overhead cost for anyone looking to mint a currency.

-MarkM-

[bramvnl]

no not more coins 

[paddox]

Ripple (XRP) raised funds from Google Google Ventures. I know it's fully premined, but it's sort of an alt coin.

[jasemoney]

Why couldn't they have a closed mining experience. Open blockchain to view but they control the nodes and miners.

[eightspaces]

How are they going to secure their blockchain?

Bitcoin is INSANELY expensive to secure, not only do miners get paid every coin ever minted, but they get transaction fees on top of that too!

That leaves less than nothing for the country or company "issuing" the coin. In effect its not their coin at all, it is issued by random miners all over the world, not by them at all.

That is utterly insane overhead cost for anyone looking to mint a currency.

-MarkM-

MarkM, are you a BCX clone?