> Since Bitcoin was first, all other competing blockchains merely exist for miners to sell tokens to greater fools. Please explain how this argument does not

> Since Bitcoin was first, all other competing blockchains merely exist for miners to sell tokens to greater fools. Please explain how this argument does not also apply to Bitcoin, 'cos as far as I can tell at present it does. That altcoins are even scammier does not somehow mean Bitcoin is free of the same problems despite being first.