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Is it possible for an individual to create their own blockchain from Bitcoin Core?

I think the value of BTC is currently controlled by miners in China and I want to create a blockchain with either a filter on who can mine or a limitation on the amount each individual can mine.

  • "minors" are people that are not yet of age. What you mean are "miners". ;) I've edited your question to include your comment. – Murch Jun 14 '16 at 14:23
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It is indeed possible, with some tweaks in the code to differentiate from the original. Effectively, you'd be starting an altcoin with all the same parameters as bitcoin.

However, if it had everything exactly the same as the original, it would be very vulnerable as some big bitcoin miner could one day wake up and decide to point his hashpower to this new coin and perform a 51% attack.

Note that this new x-coin would be worthless unless you could bring enough people to actually use it and enough miners to secure it. But if it's a copy-cat of bitcoin, why would anybody come?

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  • The purpose will be to have a blockchain with restriction on miners. – smoumou Jun 10 '16 at 15:51
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If you mean downloading The Bitcoin blockchain, as shared by all Bitcoin users: then yes, that's what Bitcoin Core does automatically when you start it: download all the necessary data and reconstruct the blockchain.

If you mean create an altcoin, then the answer is that depends on the skills of the individual. You need to be a very skilled developer to create your own coin and make anything useful out of it. Many have tried before, and pretty much all have failed.

In your case, you're about to create a private blockchain, which defeats the point of having a blockchain in the first place so you might as well grab an (No)SQL database. Also: a coin needs users to have value, you're not going to pursuade any users to join your coin. They might as well stay on PayPal.

Miner are (can be) anonymous in Bitcoin, which is very much a requirement for the whole system to have a chance at working at all.

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  • The asker has clarified their question, perhaps you want to have another look at your answer. – Murch Jun 14 '16 at 14:21

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