Why should anyone buy the older cryptocurrencies for a pricer higher than the early adopters? Surely cryptocoin software is more than a pump and dump system ri

Why should anyone buy the older cryptocurrencies for a pricer higher than the early adopters? Surely cryptocoin software is more than a pump and dump system right? Hodl until you can pass off to the later bag holders? What happens when the old networks are obsolete? In economics, the Gini coefficient is the standard measure of how inequitable a society is. This is tricky to determine for Bitcoin, as it's not quiet a "society" in the Gini sense, one person may have multiple addresses and many addresses have been used only once or a few times. (The commonly-cited figure of 0.88 is based on one small exchange in 2011.) However, a Citigroup analysis from early 2014 notes: "47 individuals hold about 30 percent, another 900 a further 20 percent, the next 10,000 about 25% and another million about 20%"; and distribution "looks much like the distribution of wealth in North Korea and makes China's and even the US' wealth distribution look like that of a workers' paradise Dorit Ron and Adi Shamir found in a 2012 study that only 22% of then-existing Bitcoins were in circulation at all, there were a total of 75 active users or businesses with any kind of volume, one (unidentified) user owned a quarter of all Bitcoins in existence, and one large owner was trying to hide their pile by moving it around in thousands of smaller transactions. (Shamir is one of the most renowned cryptographers in the world and the "S" in "RSA encryption")" [1] via https://news.ycombinator.com/user?id=davidgerard https://news.ycombinator.com/user?id=davidgerard