Bitcoin has scarcity, but so does Litecoin or Bitcoin Cash What makes Bitcoin sp...

kwikiel · on Nov 28, 2017

Network effect - same thing for Facebook. The more valuable bitcoin is the more secure and more resilient. Thus purely by price appreciation bitcoin is doing hiperbitcoinization - once people realize that fundamental value of fiat currency is a myth, more fiat currencies will collapse

0bsidian · on Nov 28, 2017

This is exactly right.

If you create a company and copy Facebook's code, the resulting company will not be worth as much as Facebook.

Why? Because much of Facebooks' valuation derives from its network.

Bitcoin is the same.

notahacker · on Nov 28, 2017

The problem with being by design a fungible commodity is that your network lock-in isn't anywhere near as strong as Facebook's. Or AOL's...

DINKDINK · on Nov 29, 2017

Right now (it would be possible to change) Bitcoin is more provably scarce than litecoin or bcash.

https://fork.lol/pow/difficulty

Bitcoin is 7X scarcer than bcash.

chrisco255 · on Nov 28, 2017

Network effects. It's the reserve currency of the entire crypto ecosystem.