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It may be very hard to create such a system, but it is extremely easy to copy it. Bitcoin is a proof-of-concept for a new technology, but that doesn't mean it h
by dpiers 9y ago
It may be very hard to create such a system, but it is extremely easy to copy it. Bitcoin is a proof-of-concept for a new technology, but that doesn't mean it has value. I used to work at BitTorrent, and the extreme popularity of the protocol did not translate into revenue for the company. There is nothing special about the BTC blockchain that makes it any more valuable than any other chain.
- peterisza 9y agoGood point. Maybe just the consensus around it and its history make it more valuable than its copies. However, almost the same applies to gold, as there are other scarce metals that could become an alternative to it. If that happens, those will also be worth more than just their industrial value (which is now the case I believe).