Ask HN: What's stopping anyone of you from creating a bitcoin alternative?

The problem is you need to get other people to use it and buy it, that's the tricky bit. You're making a huge assumption with this:

"3. Wait for a while as prices for your currency rises."

You'll need to get it used enough that someone puts it on an exchange, or otherwise convince people to give you money.

To make huge amounts of money, you need to convince either lots of people, or a few really rich people.

It's also potentially illegal.

You can try, but I doubt it will be as easy as you think it is.