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How crazy is it to think the first big crypto version of money is the ONE that will rule all? I have some faith but can't some other coin get traction and be wa

• ephbit 3y ago
  > How crazy is it to think the first big crypto version of money is the ONE that will rule all? Is it really that crazy? The network effect for such a technology is quite important, don't you think? Much more so than for social media, I'd guess. Because with the example of Bitcoin, most of its current speculators probably bet on it for two simple reasons: (a) it has the one most important property: scarcity .. which enables it to be store of value (b) it has been and still is the biggest .. which IMO gives it a self-reeinforcing head start The importance of these two, for most people who at all care about cryptocurrencies, is so big I think, that they far outweigh any of the advantages, that other cryptocurrencies might admittedly have. Isn't it a bit like with gravity? Unless someone coordinates many people with billions $ to spontaneously create a significantly larger competitor, Bitcoin will verly likely continue attracting most of the trickles of money that go into the cryptocurrency world.