It's configured in your hosts-file. If you delete the localhost entry, your machine would do a DNS Query. If you put "mycomputer" to your hosts-File you would have the same effect as currently "localhost" does.
localhost is just a name your machine maps to 127.0.0.1 in the hosts file, the loopback address. mycomputer isn't mapped to anything so it doesn't resolve.
localhost always points to your own machine via 127.0.0.1 in the hosts file.
mycomputer would need a DNS entry, inorder to access it your 127.0.0.1
Intresting
Computer\HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Explorer\MyComputer\NameSpace and delete all the keys with random numbers & letter
jerking off can be a part of our business model. the only bugburga in zootopia with two gooners actively beating off during business hours. i’ll take out a loan and leave mycomputer as collateral.