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According to your theory, all the thousands of shitcoins are valuable. But they're not. There must be further reasons, then, that the price of Bitcoin is so hi
by FabHK 1y ago
According to your theory, all the thousands of shitcoins are valuable. But they're not.
There must be further reasons, then, that the price of Bitcoin is so high. And they're purely sentiment, I'd argue. If that changes, there's little to prevent the price from going down very far very fast. Unlike fiat.
- samdoesnothing 1y agoNo, according to their theory a coin can be valued for its intrinsic properties, not that it will be.
- nwienert 1y agoI mean i mentioned its volatility has gone down. People use stablecoins as well for the same reasons. Shitcoins are different.
- anothernewdude 1y agoIt's brand name value. The same reason there's one basic OS, one internet search, one social network, one VOD site. People can tolerate few names for things and tend towards the default as a safe choice.