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What is the probability that a future cryptocurrency will possess some property that the majority of users want that bitcoin does not have? The source code is
by AJ007 13y ago
What is the probability that a future cryptocurrency will possess some property that the majority of users want that bitcoin does not have?
The source code is open but the processing power is not so quickly reproducible. I think this is the biggest argument for bitcoin's sustained dominance at the moment.
There could be many cryptocurrencies. Some issued by commercial entities like Amazon, some for use in a specific online game, others perhaps behave like an ETF and are backed by USD or Gold, may be even a cyptocurrency that magically(?) security-ignorant individuals can use. These currencies could all be subject to market exchanges and futures.
Bubbles are fermented in hysteria that if you don't buy now you will never get a chance again. Whenever I start hearing those arguments my interest in speculative investment begins to dissipate. A bubble will not deter me from my optimistic interest in bitcoin because I believe its properties are incredibly productive.
As for bitcoin and ponzi schemes, the withdraw caps and illiquid nature of certain exchanges right now make it very possible to conceal a ponzi scheme.
Here is my challenge: for those really bullish on bitcoin, build things that use it! When all you do is speculate, then you stand on equal ground as everyone else. Do something to get an advantage.