I want to set up my own currency called 'Magic Beans'. You will be able to harvest beans by completing algorithms.
Plenty of people have tried to emulate Bitcoin, but can't. You can copy the source code as many times as you want, but Overstock will be taking Bitcoin, not your Thork-coin crap.
Overstock has just made a very powerful enemy
As a slight aside, I saw a guy just set up a bitcoin vault. He offlines peoples bitcoins for them and offers them insurance.
http://www.bbc.co.uk/news/technology-25680016however I think he has unwittingly developed a multi-billion dollar business and he doesn't realise it yet. Once you look after other people's bitcoins (a currency) you can loan said currency to other people at a fractional reserve ratio of 9:1. Having a complete monopoly on the currency at present would mean he has masses of depositors.
My understanding is that its hard to get hold of a lot of bitcoins for a project or business idea so loaning other people's bitcoins I would expect to be very profitable and help the currency with hoarding issues making it more usable (how the old goldsmiths started banks).
I don't understand why he would charge people to store their bitcoins. surely you do it for free and make a killing on loan interest on the other side.
The only threat to the world's first e-currency bank would be a bank run. You really can't borrow from anywhere else. but I'd assume if panicked investors started selling coins and withdrawing, they'd have to sell to someone else who would deposit.
Something to mull over whilst I wait for my tea to cool I suppose.