If I wanted to get rich, I would announce the creation of my new cryptocurrency in this space. It is the latest trend.
Everybody is doing it from failing dictatorships in Venezuela to failing camera film companies like Kodak.
Why not a cryptocurrency for an old line print newspaper like Numismatic News?
I would have to come up with a classy name. Nobody can equal Bitcoin. Imagine something that is neither a bit, as in two bits, nor a coin, as in something you can physically hold in your hand, getting such a name. It is sheer marketing genius. It has taken Bitcoin’s aggregate value to over $300 billion and back to $237 billion.
The only way you can access that value is to get someone to pay you cash for your Bitcoins, or a merchant to give you goods in exchange for Bitcoins. Otherwise it stays in its basic nothingness form. Nobody is going to open a tomb in 3,000 years and find Bitcoins.
Other names include such winners as Ethereum. It is $119 billion. Ripple is $83 billion. Bitcoin Coin Cash is $44 billion. Maybe that gives me the opening to call my new currency “Coin Cash Coin.” Three letters “C” in a row sound good, don’t they?
Cardano is over $19 billion. Litecoin is $13 billion. Would you want to bid up the price of something with “Lite” in its name?
The numismatic interpretation is something that is underweight. Perhaps that is why it is worth $13 billion and Bitcoin is worth $237 billion.
There is one on the list called “Stellar.” It is worth $10 billion. I suppose I could name my new cryptpocurrency “Stella,” as in the old $4 gold pieces, and hope enough people confuse it with “Stellar” to allow me to get a billion dollars.
This approach probably worked for Bytecoin, which is worth $1.9 billion.
My billion dollar goal seems reasonable in this light.
But I must avoid putting the word “Dollar” in the name, as in GiveMeYourDollars. The government would accuse me of counterfeiting and hard money people would say anything with “Dollar” in it is doomed to fail.
Radical Reales is too numismatic. The public wouldn’t know a thing about 8 reales silver coins, but cryptocurrency buyers would like the word “Radical.”
Radical Red Rocket would imply my new cryptocurrency would soar, but a mortgage company might be unhappy.
Naming a new cryptocurrency is really complicated, isn’t it? It’s a good thing I am just an editor.
This article was originally printed in Numismatic News Express. >> Subscribe today
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