If you do that, I'm going to make a client that uses a rotating set of accounts and masquerades as a different client. I am then going to make content available through my client for free, and I'm going to put ads on it so that I can make money. With some small number of accounts, I will serve perhaps x1000 users and you can't do anything about it.
In time, perhaps I will lock the users into my platform. They will talk about how the community on Reddit doesn't understand Reneit and how all the memes come from Reneit. If I win, I'll be Reddit over Digg. If I lose I'll be Imgur.
So go ahead. You'll be Invision to Tapatalk and you will die.