Can anybody start krypto currency? From what I am reading about krypto currency, it seems as if anyone can start their own version of bitcoin type krypto currency. Is that right? It will not have any value like bitcoin does, but its still a krypto currency, right? Why does bitcoin has so much value anyways?
yes can any one start a "crypto" currency It will not have any value like bitcoin does, but its still a crypto currency you need to give some of it for signature campaign in bitcointalk forum etc.. this to advertise your coin which know as "ico" and you hope the community accept it as valid coin. bitcoin have value because it's limited (only 21 million) so its like the gold
Thanks for replying @justinmidlet Who decides the value of bitcoin? There must be some exchange, some people who are deciding the value and making it public for others to see.
I think that the value of any crypto currency is determined from the number of peoples, which use it, and from the number of places, where it is used, as a means of payment. The more it is used, the higher value. Thank you.
@swami2 Thanks for your reply. Lets say there are 3 shops accepting a krypto currency. Shop1 is in Japan Shop2 is in USA Shop3 is again in Japan, but different city. All selling pizza lets say. How will shop1 and shop3 know how much krypto currency to charge for one pizza? Then how will shop2 in USA know how much to charge in their USD equivalent? There must be some exchange in between where all these people can check value of this krypto currency compared to their own official currency...
Every crypto currency has their own value. For example, on the bitcoin web site, you can check how much is one bitcoin in USD. Also, on the web sites where you can exchange (sell) crypto currencies for other crypto currencies, or exchange (sell) them for paper currencies, you can see its values, in many paper currencies.
Here you can see the list of some crypto currency exchange web sites: https://coinmarketcap.com/rankings/exchanges/
Yeah, you can start a cryptocurrency, but to heavily advertise it and the cryptocurrency community should trust and accept it; otherwise, it won't be of any value. Also, Bitcoin is pioneering the cryptocurrency league because it's one of the oldest cryptos, multitude of people use it, this is why it's high in value.