Anyone can create a cryptocurrency, but can anyone create another Bitcoin?

[hd49728]

Indeed. There are too many scammers or bad people who are trying to deceive others. If they offer a project to create a new Bitcoin, it must be a scam project. Honestly, I'm not interested in the idea of a new Bitcoin because it looks a very bad way imitating Bitcoin. No one will trust the idea because there is no way to imitate it. People must be aware that Bitcoin will remind Bitcoin, there is no Bitcoin with another version.

Scammers can be smart or stupid and the fact about victims is very painful because they lost money to scammers by very traditional and popular scam methods. They only need to spend a little bit time for learning about most common scam methods, then security and privacy guides to change their bad habits for better practice.

If they can do these things well, I believe everyone can do that, they will almost impossible be scammed.

[General] Crypto scams, attacks and malware [BINANCE UNDER ATTACK].
The cryptocurrency scambook.

[Asuspawer09]

That is right. You can create a cryptocurrency if you wanted to but you cannot create another Bitcoin it is just unique and creating another one doesn't mean it is the first one so technically you cannot create another Bitcoin maybe we could just say that we can mine Bitcoin, because that is an actual Bitcoin and it is being created on mining, but not creating another Bitcoin, it is just another cryptocurrency.

I mean there are a lot of cryptocurrency that has much better technology than Bitcoin, more advanced, something lke that but it is still not Bitcoin and it doesn't mean that it is going to be much better than Bitcoin even though on structure like network, fast transactions etc. It is much better but it doesn't mean market price is going to skyrocket and it is going to discredit Bitcoin. Someone could maybe create same thing crypto than has 21million supply as well, name it Bitcoin or something but it is still not going to be Bitcoin. Bitcoin Mainnet is it's own network, and it is different from like ETH network where they have some smart contract to create one.

[Justbillywitt]

I am not even asking anyone to create another Bitcoin, I just want Devs to follow the footpath of Satoshi Nakamoto, that's all I am asking for, because this is what it takes for something to actually works out as intended.

This is unfortunately not what we have in this world today, even youths who are into Blockchain or lets say upcoming Devs all want to get rich, the goal is the money, not what they plan to built.

None of the present day devs can follow the footprints of Satoshi. How many devs can create something valuable like bitcoin, decentralized the network and decide to remain anonymous without the urge of being known? Despite bitcoin getting to different ATH at different stages over the years, Satoshi decided to remain anonymous despite holding a whole lot of bitcoins. Greed and hunt for fame won’t allow the present day devs to follow that path. As far as crypto is concerned, we will never see like bitcoin again.

[Obulis]

From the inception and dominance of Bitcoin till date there has been creation of different cryptocurrency but none ever become Bitcoin per dominance, value, trust and another means of comparison. The analogy of anyone can print paper but that doesn't make it money and that being willing to form or fabrication language doesn't mean you should not or don't need to learn English, explains it all. Just like other areas of life, there's always the highest among the tops and here that is where Bitcoin has found itself for now and the probable future. In the world of physical/paper currency, we have the Kuwaiti Dinar KWD,
Bahraini Dinar BHD
Omani Rial OMR,
Jordanian Dinar JOD,
British Pound GBP
But even on their toping in value, the dominance or say popularity of the US dollars can't be underemphasized, some of the top currency in value might not even be in serious use outside it's country of origin like US dollars. That's what happens when a new cryptocurrency is made, Bitcoin continues it's dominance, while within not more than a year the new crypto next chapter is extinction.

[Lida93]

The problem with the times that we're living in is that, in this crypto space now, people are no long much interested in trust and reputation of project more than they're with focus on making huge returns in quick time. And this has being the mentality which has also encourage the creation of many shit crypto projects that have polluted the space. Bitcoin doesn't just have the potential for giving returns over a long term but with security, real time useful functionality that being proven.

Therefore, its not about creating a cryptocurrency, because if its just about creation then anyone including myself could create one for the sake of it.

[Exitoral]

What I think it's bitcoin strength is his reputation that he has built. The founder of Bitcoin has over 80 billion dollars worth of Bitcoin and he hasn't touched it. That alone may have been another addition of good reputation and trust people have for Bitcoin. People can copy the code and replicate Bitcoin limited supply. Reputation can't just be built like that. It takes years. It's like building a project and connecting directly to people's need.

[Solokan]

It's possible that someone could create an asset like BTC, but if someone created a coin like BTC, it certainly wouldn't be as popular as BTC because people would assume the asset they created was only for their own enrichment. People would still be comfortable investing in BTC. If someone created a coin like BTC, there's a chance the asset they created would be considered similar to an altcoin. But of course, we won't know what will actually happen because I don't recall anything like that happening yet.

BTC's advantages are certainly its scarcity, decentralization, and many other advantages. However, there will always be risks in investing in BTC, which is why only money you can afford to lose is worth using to buy BTC. However, in my opinion, even if someone creates a coin like BTC, BTC still has a bright future and will be difficult to compete with.

[Decimetre]

Personally, I think that the strongest aspect of Saylor's argue is that copying the technology is far easier than copying the history, trust a d network behind it.

My burning question; is Bitcoin's biggest advantage its scarcity, technology or simply the fact that a lot of persons from different continents and races have decided to believe in it?

Have you looked at why we have numbers of altcoins flooded the market and there is no single coin that is worth half of Bitcoin market cap? That's because anyone or group that created a coin did it for their interests. I have not seen a single person from any projects or coins that aren't rich through their coin. This is not what Satoshi started, it was pure on his mission and never for one day has he spend any of his Bitcoin. How many people will do the same today.

I use to think about the strength of bitcoin from the sides of volatility and limited supply but has never thought about the selfless desire to create something sustaining by Satoshi Nakamoto. To decide to remain anonymous until this day even after the successes that bitcoin has recorded is an evidence that he truly only cared about bitcoin success and not his personal gains. A different developer seeing the level of success bitcoin has achieved would have taken to the media to reclaim all the praises for a job well done.

Bitcoin is open source, I tell you if code for code is launched today as Bitcoin forked, it will never replaces Bitcoin because the trust alone can't be reform. If a coin worth trillion market cap is launched today, the first thing the team will do is to sell and secure their investment. In fact, those dormant wallet addresses are one the thing that keeps Bitcoin together, I'm not sure if anyone can do something of such in this time.

I'm yet to see such sacrifice from any of the modern token developers who will be willing to allow a chunk of token unsold over a period of 16 years and counting.

Anyone can continue creating multiple coins, but none will ever be like bitcoin.

[RockBell]

That is right. You can create a cryptocurrency if you wanted to but you cannot create another Bitcoin it is just unique and creating another one doesn't mean it is the first one so technically you cannot create another Bitcoin maybe we could just say that we can mine Bitcoin, because that is an actual Bitcoin and it is being created on mining, but not creating another Bitcoin, it is just another cryptocurrency.

And there is a lot of cryptocurrency out there, but the issue is that, no matter what, they can not be exactly like Bitcoin is called a king for a reason, and that is why, even in the market, Bitcoin is the one driving the whole market. Yeah, the best thing anyone can do when it comes to Bitcoin is to mine, or you should buy, but the idea of creating another Bitcoin to me, is a total waste of time, there are better ways for us to accept the reality that there will be only one Bitcoin.
 

I mean there are a lot of cryptocurrency that has much better technology than Bitcoin, more advanced, something lke that but it is still not Bitcoin and it doesn't mean that it is going to be much better than Bitcoin even though on structure like network, fast transactions etc. It is much better but it doesn't mean market price is going to skyrocket and it is going to discredit Bitcoin. Someone could maybe create same thing crypto than has 21million supply as well, name it Bitcoin or something but it is still not going to be Bitcoin. Bitcoin Mainnet is it's own network, and it is different from like ETH network where they have some smart contract to create one.

no matter the advancement or modifications that must have been done i dont think anything will replace bitcoin from the top one because it all started from bitcoin so what else do you think is going to replace bitcoin, and people already know this and even with the limited supply, people will still go for bitcoin and that is how it is suppose to be and when bull run comes does holding bitcoin smiles due to profit because bull run starts from bitcoin, and one of the most talked about currency is bitcoin so it remain the number one.

[Cookdata]

I use to think about the strength of bitcoin from the sides of volatility and limited supply but has never thought about the selfless desire to create something sustaining by Satoshi Nakamoto. To decide to remain anonymous until this day even after the successes that bitcoin has recorded is an evidence that he truly only cared about bitcoin success and not his personal gains. A different developer seeing the level of success bitcoin has achieved would have taken to the media to reclaim all the praises for a job well done.

If you check the rich list of Bitcoin wallet address, there is not a single address that belongs to any individual that is known. Most of them are private ownership and they are not active. The address that are making noises are the cooperate organizations, companies and institutional investors. If that amount coins that are untouched on that list of address belongs to any public known person, rest assured they would have sold some, they would give useless excuses like Ethereum is doing with foundation reserve. Thank God Bitcoin doesn't have foundation or any allocation to any group.

I'm yet to see such sacrifice from any of the modern token developers who will be willing to allow a chunk of token unsold over a period of 16 years and counting.

Anyone can continue creating multiple coins, but none will ever be like bitcoin.

There are some sacrifices they have done, but there are two side to the things they talk about. When some of yh team launch a coin and say they are going to lock their allocation and even further extend the period to gain some trust. They do have back door during public launch with other wallet with fragments allocation, that's where they get their coins. They sell them even before the public investors do, that's the money they managed until they get their allocations. I can never trust altcoins with teams especially the greedy type.

[Nalain420]

I am not even asking anyone to create another Bitcoin, I just want Devs to follow the footpath of Satoshi Nakamoto, that's all I am asking for, because this is what it takes for something to actually works out as intended.

This is unfortunately not what we have in this world today, even youths who are into Blockchain or lets say upcoming Devs all want to get rich, the goal is the money, not what they plan to built.

None of the present day devs can follow the footprints of Satoshi. How many devs can create something valuable like bitcoin, decentralized the network and decide to remain anonymous without the urge of being known? Despite bitcoin getting to different ATH at different stages over the years, Satoshi decided to remain anonymous despite holding a whole lot of bitcoins. Greed and hunt for fame won’t allow the present day devs to follow that path. As far as crypto is concerned, we will never see like bitcoin again.

Don't give too much importance to anonymity of Satoshi's and compare it with today's dev. Satoshi's contribution is unique like creating a system that could operate without creator dependence that makes this technology valuable not remaining anonymous.  And not everyone has same goal like Satoshi. Someone wants recognition some want to focus on useful technology everyone has different goals. So this doesn't alone determine the quality of work. And i also wouldn't say that we will not see any other valuable  innovation in crypto. Bitcoin has it's own perks history innovation but creating something different doesn't mean it's less off innovation and it's less valuable.

[2stout]

I don't feel anyone will ever create another Bitcoin.  Think of Michael Jordan, there will never be another.  The closest was Kobe Bryant and even though he is considered one of the GOATs, the thing is for his style and game is that we already saw that in Michael Jordan.  As Jordan is a 1 of 1, so is Bitcoin.  Other cryptocurrencies can be created that are 1 of 1's- think Lebron James, Victor Wembanyama, etc. but there will only be 1 Bitcoin aka Michael Jordan.  

[Oshio-man]

I agree with you op, we have seen different cryptocurrencies in the general market but is only one bitcoin that is in the market and it has created a lot of opportunities for those that trust bitcoin and believe in bitcoin to keep loving it for long term holding, even though there will be another cryptocurrency that will display like bitcoin or act like a bitcoin because bitcoin have dropped attention of many users to value bitcoin more than others cryptocurrencies, I know there will be another cryptocurrency that will display after bitcoin have disappear but it will not last like bitcoin.

[alastantiger]

I am not even asking anyone to create another Bitcoin, I just want Devs to follow the footpath of Satoshi Nakamoto, that's all I am asking for, because this is what it takes for something to actually works out as intended.
This is unfortunately not what we have in this world today, even youths who are into Blockchain or lets say upcoming Devs all want to get rich, the goal is the money, not what they plan to built.

There has been many people creating their own cryptocurrency but no body has been able to create another Bitcoin because there can only be one Bitcoin and the rest are going to be called altcoins and also behave like them because they will always be alternative of Bitcoin. Even coins that come out directly from the Bitcoin Blockchain because of a hard fork can not be called Bitcoin or behave like Bitcoin as they will always have little bit of centralization or have other features that does not represent Bitcoin very well. New coins investors are always greedy with having control over their coins they invented and for people to know them but Satoshi Nakamoto did not want any of that and this helpsled Bitcoin a lot.

[AmaGold70]

Michael Saylor made an interesting statement; "saying there's no reason to buy Bitcoin because anyone can create a cryptocurrency is like saying there's no reason to learn English because anyone can invent a language.

Michael Saylor has a point,  I also think there's more to that analogy at second thought than most people may realize.
Creating a cryptocurrency is surely not the same as building something people can trust, use, and he for a long period of time. Anyone with the right and appropriate skill can launch a coin, it doesn't however give it the security, network or enhancing reputation we're seeing from Bitcoin.

Think about it, anyone can print a piece of paper, but that doesn't make it money. Not just anything can be accepted and trusted by people.
One the other hand, obviously Bitcoin's uniqueness doesn't automatically imply that its price is justified at every level. A valuable asset can also be overpriced.

Personally, I think that the strongest aspect of Saylor's argue is that copying the technology is far easier than copying the history, trust a d network behind it.

My burning question; is Bitcoin's biggest advantage its scarcity, technology or simply the fact that a lot of persons from different continents and races have decided to believe in it?

There are so many fake cryptocurrencies in the cryptocurrency market, but not all of them are worth investing in, many of the cryptocurrencies are scam, and can not make any headway. Many of the cryptocurrencies have been dumped because they lack utility, and have no strong community to sustain them. Apart from Bitcoin, many other cryptocurrencies survive by hype, as people talk about them on the social media platforms . No crypto has been successful like Bitcoin, and this makes Bitcoin more superior to other cryptocurrencies.

[osasshem]

Creating another Bitcoin in the crypto currency industry is simply creating another altcoin, because Bitcoin can not be replaced and substituted by any other in this crypto industry. It is like wanting to create a company and you wish to use an already existing public figures recognised globally wanting to use its business name, it is simply something that won't work, same goes to Bitcoin and any other coin/project in the crypto market.

We can say something new and different away from the crypto industry, new idea, new technology, new industry and a new effect to the world from a different angle, recognised worldwide, then will such an idea thrive and have it's mainstream where it will be recognised as number one.

[yixichloro2xx]

Michael Saylor made an interesting statement; "saying there's no reason to buy Bitcoin because anyone can create a cryptocurrency is like saying there's no reason to learn English because anyone can invent a language.

Michael Saylor has a point,  I also think there's more to that analogy at second thought than most people may realize.
Creating a cryptocurrency is surely not the same as building something people can trust, use, and he for a long period of time. Anyone with the right and appropriate skill can launch a coin, it doesn't however give it the security, network or enhancing reputation we're seeing from Bitcoin.

Think about it, anyone can print a piece of paper, but that doesn't make it money. Not just anything can be accepted and trusted by people.
One the other hand, obviously Bitcoin's uniqueness doesn't automatically imply that its price is justified at every level. A valuable asset can also be overpriced.

Personally, I think that the strongest aspect of Saylor's argue is that copying the technology is far easier than copying the history, trust a d network behind it.

My burning question; is Bitcoin's biggest advantage its scarcity, technology or simply the fact that a lot of persons from different continents and races have decided to believe in it?

There are so many fake cryptocurrencies in the cryptocurrency market, but not all of them are worth investing in, many of the cryptocurrencies are scam, and can not make any headway. Many of the cryptocurrencies have been dumped because they lack utility, and have no strong community to sustain them. Apart from Bitcoin, many other cryptocurrencies survive by hype, as people talk about them on the social media platforms . No crypto has been successful like Bitcoin, and this makes Bitcoin more superior to other cryptocurrencies.

True and we don't even hear them again since their hypes have died down. Which made remembered when these Altcoins were booming and have lots of community. But if they don't have any real world use , it will eventually fade into obscurity.  Many of these coins have now become a tool for scamming people.  We have had cases where influencers will create a token then and persuade their followers to buy only for him or her to dump it on them. So people have gotten tired of these coins most especially when it crashes , it doesn't usually recover unlike Bitcoin. There's are still some coins that are a bit okay, like Ethereum, BNB, Sol. People still use them alot especially when transferring crypto like USDT from one exchange to another.