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Right, but the Bitcoin evangelists have changed their rhetoric in the last few months, claiming that the current price is justified because Bitcoin is a good st
by pault 9y ago
Right, but the Bitcoin evangelists have changed their rhetoric in the last few months, claiming that the current price is justified because Bitcoin is a good store of value, since it's obvious to everyone that the transaction infrastructure is a total dumpster fire at the moment and it's difficult to argue that it's so useful as a currency that $12,000/BTC is reasonable.
- chrisco255 9y agoBitcoin will fail to scale, until it doesn't any more. There is far too much economic incentive to scale BTC as a payments network for the assorted parties not to work it out eventually. Could one of the other cryptos overtake BTC? Only if they can overcome BTC's network effects. Right now, BTC has 9 years of history and a huge first mover advantage.