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> Bitcoin is looking more and more entrenched Is it? I get that from the perspective of people holding BTC it must be the network effect that gives it value.
by rootusrootus 6y ago
> Bitcoin is looking more and more entrenched
Is it? I get that from the perspective of people holding BTC it must be the network effect that gives it value. Otherwise what differentiates it from any of the multitudes of other cryptocurrencies that have been created?
It still looks an awful lot like a big casino to me. A popular one, sure, but still a casino. Not a currency.
- vgchh 6y agoI think the differentiation is in the first mover advantage of Bitcoin. Combine that with, difficulty of mining, no central control and proven robustness.
- gher-shyu3i 6y ago> I get that from the perspective of people holding BTC it must be the network effect that gives it value. Same as the Euro, USD, etc. then. > It still looks an awful lot like a big casino to me. Wall St. laughing in the background.
- rootusrootus 6y ago> Same as the Euro, USD, etc. then. LOL. The USD is backed by the IRS. No network effect required.