4 ms·

That's one of the (many) reasons why bitcoin is a better gold.

• paulgb 8y ago
  Replace "new method of prospecting" with "new blockchain" and you have the same problem. It's hard to argue that none of the money that went into ICOs and other coins during the run-up would not have gone into Bitcoin if it were the only possible blockchain.
  • siwatanejo 8y ago
    > Replace "new method of prospecting" with "new blockchain" Note I said bitcoin, not cryptocurrencies. I completely agree with you here, shitcoins will always be shitcoins.
    • AnthonyMouse 8y ago
      But Bitcoin is a cryptocurrency. Every new shitcoin competes for investment and usage and devalues all other cryptocurrencies, including Bitcoin, to the extent that it succeeds. And nothing has dethroned Bitcoin yet, but that isn't a law of nature. One of the others could become dominant. Even if Bitcoin then continued to exist and be used, that would devalue it substantially.