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Can someone explain to me why bitcoin should be priced so high relative to other cryptocurrencies? The conspiracy theorist in me wants to say that the best way
by wallace_f 9y ago
Can someone explain to me why bitcoin should be priced so high relative to other cryptocurrencies?
The conspiracy theorist in me wants to say that the best way to undermine trust in cryptocurrencies is to create market turmoil. This would not just undermine trust in cryptocurrency, but serve to embolden the Fed's 'Price Stability' justification.
- scott_karana 9y agoPopularity, and all that naturally follows.
- QML 9y agoI'd have to argue it's because Bitcoin went net-positive after the BCH fork -- that shows a bit of resilience and probably would inspire false confidence in speculators.
- posedge 9y agoFirst mover advantage. The Bitcoin paper and idea are world famous and while nowadays everyone has read/heard and is talking about Bitcoin, almost no one knows about other cryptocurrencies. Also I suppose the community is much larger and there are more miners.