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Can anybody start krypto currency?

Discussion in 'Payment Processing' started by JEET, Jun 26, 2020.

  1. #1
    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?
    SEMrush
     
    JEET, Jun 26, 2020 IP
    SEMrush
  2. justinmidlet

    justinmidlet Member

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    #2
    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
     
    justinmidlet, Jun 27, 2020 IP
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  3. JEET

    JEET Notable Member

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    #3
    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.
     
    JEET, Jun 27, 2020 IP
  4. swami2

    swami2 Well-Known Member

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    #4
    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, Jun 28, 2020 IP
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  5. JEET

    JEET Notable Member

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    #5
    @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...
     
    JEET, Jun 28, 2020 IP
  6. swami2

    swami2 Well-Known Member

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    #6
    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.
     
    swami2, Jun 28, 2020 IP
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  7. swami2

    swami2 Well-Known Member

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    #7
    Here you can see the list of some crypto currency exchange web sites:

    https://coinmarketcap.com/rankings/exchanges/
     
    swami2, Jun 28, 2020 IP
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  8. JEET

    JEET Notable Member

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    #8
    JEET, Jun 28, 2020 IP
  9. swami2

    swami2 Well-Known Member

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    #9
    Ok.

    Bye.
     
    swami2, Jun 28, 2020 IP
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