Every new coin would never have any value. The only thing that keeps cryptocurrencies at a high value is how rare they are. If there were 1,000 BTC in the world as opposed to 30,000,000,000, BTC would be worth a lot more because it's harder to get. If everyone were to create a new coin, no one would invest in the new coins, and relatively unknown coins that currently exist would lose value to a well known coin like BTC, with a strong center and wide outreach.
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