4 ms·
Bitcoin has scarcity, but so does Litecoin or Bitcoin Cash What makes Bitcoin special?
by shp0ngle 9y ago
Bitcoin has scarcity, but so does Litecoin or Bitcoin Cash
What makes Bitcoin special?
- kwikiel 9y agoNetwork effect - same thing for Facebook. The more valuable bitcoin is the more secure and more resilient. Thus purely by price appreciation bitcoin is doing hiperbitcoinization - once people realize that fundamental value of fiat currency is a myth, more fiat currencies will collapse
- 0bsidian 9y agoThis is exactly right. If you create a company and copy Facebook's code, the resulting company will not be worth as much as Facebook. Why? Because much of Facebooks' valuation derives from its network. Bitcoin is the same.
- notahacker 9y agoThe problem with being by design a fungible commodity is that your network lock-in isn't anywhere near as strong as Facebook's. Or AOL's...
- chrisco255 9y agoNetwork effects. It's the reserve currency of the entire crypto ecosystem.
- DINKDINK 9y agoRight now (it would be possible to change) Bitcoin is more provably scarce than litecoin or bcash. https://fork.lol/pow/difficulty https://fork.lol/pow/difficulty Bitcoin is 7X scarcer than bcash.