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re: People buying these Crypto Currencies

Posted on 6/17/22 at 12:12 pm to
Posted by Grievous Angel
Tuscaloosa, AL
Member since Dec 2008
9721 posts
Posted on 6/17/22 at 12:12 pm to
quote:

In my opinion, only Bitcoin wins


First mover and better brand recognition.

What else does it have? It's the same as the rest. Requires a lot of belief that it has some sort of value, or can reasonably used as currency (its ridiculously slow), and it's not just another "greater fool" operation.

I don't "invest" in what I don't understand. That includes a lot of stocks in companies I don't understand. I didn't invest in Yahoo when they had a market cap greater than General Motors at the turn of the millennium.

Will some of these survive and provide utility? I'm sure they will. But for now, I'm reminded of the "gold rush" and all the snake-oil salesmen that went with it. This feels like that.


Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80823 posts
Posted on 6/17/22 at 12:18 pm to
quote:

or can reasonably used as currency (its ridiculously slow
Have you brushed up on the bitcoin Lightning network? This point is moot if Lightning can continue growing
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