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Coingen allows you to easily create your own Alt Coin

We all farm them but what about creating our own Alternative Coin? The website Coingen allows you to do just this by filling out a simple form.

Coingen is still in beta however many users have reported that the service works great, for 0.1BTC you can create your own alternative virtual currency. The website asks for a name, abbreviation, icon, block rate, initial value per block and maximum coins. Thats all you need in order to create your own alternative coin.

As of now many alt coins already exist among those the most famous are Litecoin, Namecoin, and PPCoin. Many other coins have already been created on the site too among those are YOLOCoin, JesusCoin, NexusCoin, FaggotCoin and many others. The fact that everyone can create alternative coins easily is great but it could also in the future drastically affect the value of the Bitcoin, but i guess only time will tell.