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I am new to ethereum, Is it possible to create a coin / token on it that is just a private token? or at least I don;t want to publicly announce its creation but send back and forth coins between 2-3 wallets only?

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If your purpose is to send back and forth coins between several "private" wallets, why not making your own private block chain?

You can find a lot of tutorial on the net on how to. This one (relying on Ethereum) seems to cover the topic wholly: Here's how i built a private blockchain network and you can too

Loïc Gammaitoni
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