“Creating a new crypto currencies (based on BTC/LTC codes) seems technically relatively easy. What stop US Government (or EU) from creating its own crypto currency far superior to BTC/LTC? They could create a digital currency far more secure, more user friendly, superior transaction verification times, optionally traceable transactions (if necessary), encouraging more business and vendors to adopt and utilizing the same distribute transaction/mining model with values added centralized monitoring & regulatory support services.
Mining rewards could be further enhanced by government financial backing. With more people mining the new currency, less people would be interested in mining the existing currencies (even with decreasing difficulty), the existing currencies would be vulnerable to be compromised and to force people to move to the new currency.
I would think this would be how they would attack BTC/LTC, instead of creating their own high power ASIC’s for mining BTC/LTC. (51% attack)
My question is what kind of impacts would have to the existing crypto-currencies communities (in term of prices)?
« Last Edit: May 28, 2013, 01:01:34 AM by zollen »