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Comment: The btc ecosystem is the same

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The btc ecosystem is the same

The btc ecosystem is the same as every other coin ecosystem: they all exist in the same sphere. They are exchangeable and tradeable. I agree more people know about bitcoin, but so long as you can exchange one for the other, they're all liquid. Barrier to entry into the Coin-o-Verse is high, but once you're in, what's the difference between accepting one and accepting all 252?

As for the free market, once one gets ahead all you have to do is copy-paste its source code, and the supply of that strain grows to infinity. Then one gets ahead amongst that strain. Copy-paste. Copy-paste.

The market cap of all 252 combined coins is still vastly lower than Bitcoin was all by itself at its peak. They are diluting the value of cryptocurrency as more and more capital is diverted to the also-rans. Eventually there will be thousands and tens of thousands of coin types. What will they be worth?

If no coin can last, and no coin can stay on top, and there is huge incentive to create your own, then how does any coin retain value?

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

Also author of Stick it to the Man!