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...and there are others that would buy BTC if it was the only option but would be happy with ETH given that it exists. With those people buying / minting X inst
by dkarras 5y ago
...and there are others that would buy BTC if it was the only option but would be happy with ETH given that it exists. With those people buying / minting X instead of Y (but would use Y if X didn't exist), the amount of digital coins increased out of thin air just like that! Without any control mechanism from the bitcoin protocol (an unsolved / unsolvable(?) problem).
So the fact that the people like you say exists does not prevent the existence of the people that I am talking about.
And if the secure, easy to use, non-wasteful, programmable and distributed ledger problem is solved once then ALL coins after that become the same. In that environment "people who would buy ETH, but never BTC" will not make any sense.
- graerg 5y agoYou're effectively saying that once someone decides to grow potatoes, apples are no longer scarce, because people might instead grow potatoes and trade them for apples. The secure, easy to use, non-wasteful, distributed calorie problem can only be solved _once_, so ALL potatoes are apples.
- CRConrad 5y agoIf only apples existed and suddenly potatoes were invented, then plant-based carbohydrates just became less scarce. If only British pounds existed and suddenly the Australian dollar was invented, you could suddenly do business in another currency.