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>Bitcoin has a brand recognition advantage over the others It's a little more than brand recognition: there's also a network effect involved (à la Facebook / W

>Bitcoin has a brand recognition advantage over the others It's a little more than brand recognition: there's also a network effect involved (à la Facebook / WhatsApp) that makes it hard for the other cryptos to compete even though they may have better tech. There's also the hashing power, which - if you leave the tree-hugging arguments aside for a second - secures the network integrity quite effectively and is hard to match by contenders.

wpietri 6y ago
It'll be interesting to see how much network effect is left after a significant brand hit. One of the purposes of exchanges is to cross-connect networks. Quitting Facebook is hard, because you need to get all your friends to move. But if you're just a speculator seeking volatility and liquidity, switching is pretty easy. The hashing power will decline drastically in a crash, as many existing miners will become uneconomical. If that happens, I'll be very interested to see where that mining power goes. Another currency? A 51% attack on the way out the door?