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What makes bitcoin special? It's not like we've seen widespread adoption of this particular cryptocurrency. Do litecoin, feathercoin, et al. use the same algori
by bottled_poe 13y ago
What makes bitcoin special? It's not like we've seen widespread adoption of this particular cryptocurrency. Do litecoin, feathercoin, et al. use the same algorithm with different seeds? I dont't understand why bitcoin is gaining so much value. It seems that an identical cryptocurrency could be created with or without the coins already mined. It seems to me that $1000 per bc can only be speculation by the wealthy at this point. It is surely a bubble waiting to implode.
- unethical_ban 13y agoBitcoin is special because it has more users and recognition than litecoin, and it has more users and recognition because it's special. A currency gets its value from the recognition by others of its use for trade. Bitcoin has more of that than the others.
- gagege 13y agoThank you for asking these questions! No one seems to be answering them.