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Why Bitcoin specifically?
The prevailing opinion here is that Bitcoin is the only cryptocurrency worth having and all the other ones are shitcoins. Bitcoin to the moon, all the others to zero. Why? What is it that makes Bitcoin special and unique? Mathematically sound, nope: Anyone can create a mathematically sound distributed ledger. Limited supply, nope: Anyone can create a cryptocurrency with a limited supply. They could limit it to 19 million Arbitrary Units (tm) to have Even More Scarcity (tm). It was first, maybe? First... what? Technically I guess the first truly decentralised, proof-of-work-powered, blockchain-based cryptocurrency? But so what? Does that somehow create a stable equilibrium? If so, please explain why. Hash rate, maybe? Maybe that's a stable equilibrium. If so, please explain why. You tell me! If you could answer such that a five year old could understand it, that'd be amazing. Not necessary, though! submitted by /u/tasuki [link] [comments]
The prevailing opinion here is that Bitcoin is the only cryptocurrency worth having and all the other ones are shitcoins. Bitcoin to the moon, all the others to zero. Why? What is it that makes Bitcoin special and unique?
- Mathematically sound, nope: Anyone can create a mathematically sound distributed ledger.
- Limited supply, nope: Anyone can create a cryptocurrency with a limited supply. They could limit it to 19 million Arbitrary Units (tm) to have Even More Scarcity (tm).
- It was first, maybe? First... what? Technically I guess the first truly decentralised, proof-of-work-powered, blockchain-based cryptocurrency? But so what? Does that somehow create a stable equilibrium? If so, please explain why.
- Hash rate, maybe? Maybe that's a stable equilibrium. If so, please explain why.
- You tell me!
If you could answer such that a five year old could understand it, that'd be amazing. Not necessary, though!
[link] [comments]
