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One of the big puzzles for me is why the "original bitcoin" is keeping its value when there are so many innovations and gradual improvements in newer alternativ
by kzrdude 4y ago
One of the big puzzles for me is why the "original bitcoin" is keeping its value when there are so many innovations and gradual improvements in newer alternatives. For example what you mention, or when Zcash launched their perfect anonymity solution etc. I just didn't bet on bitcoin itself surviving.
- latchkey 4y agoEasy. You can trust an infinite amount of money to it. No matter what, 1 btc will always be 1 btc. The relative simplicity is a feature, not a bug. As soon as you add features, you add complexity.
- SilverBirch 4y agoIt's a weird variation on network eitffects. People trust bitcoin because it's pure, well understood and relatively stable. Yes, ETH may be better in some respects, but BTC didn't have to hard fork after the firs DAO. BTC hasn't been screwing up a move to POS for years. BTC has tonnes of drawbacks, but the drawbacks are stable and known. And this confidence in Bitcoin stabilizes bitcoin, beleive in bitcoin because it has critical mass. This may of course all be wrong, something may go wron tomorrow and completely hose the thing. But people generally don't think that.