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Why there won't be a proliferation of Bitcoin-like currencies
Transcript of Why there won't be a proliferation of Bitcoin-like currencies
- 4 years of history
- etc. - blah
- No history! A competitor to Bitcoin would not only have to be clearly superior, but also superior enough to make up for its lack of history.
How valuable is Bitcoin's history of reliability, in terms of its suitability as a currency? If it's larger than the space between Bitcoin and ideal, then competition with Bitcoin is currently impossible.
In any case, there have been no significant competitors, and if one should appear, it will only succeed if it is in fact clearly superior. Then the margin for besting the new currency will be even smaller. Therefore there will be no endless proliferation of cryptocurrencies.