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RE: Bitcoin Forked Up Again : Really? Bitcoin Diamond? What?

in #bitcoin7 years ago (edited)

Don't forget, "bringing value", like in "growing market value", it basically means someone thinks it's worth buying it. If someone is buying it, they are also selling other currency bringing down that value. If people are spending fiat buying the new coin because they believe in the project, the value of crypto as such goes up. If people are trading one coin for the other, the value of crypto as such stays constant, it's a null-sum-game.

There is also the usability-value - but don't forget the importance of the network effect. It has become very difficult to use crypto now, with Bitcoin the network fees are too high and/or the reliability is too low, with other cryptos there is a jungle to choose from. I'm suggesting ETH and BCH for my peers, but they respond that they can pay with LTC or XMR :/

I've been an ethereum supporter for quite a long now, even if it has it's weaknesses - I believe it can be really useful, and it has almost the biggest market cap - I should probably spend time learning to program ether contracts instead of writing comments on steemit and reddit ...

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Great points! I completely agree. I just am a little annoyed when people say "free money." I think it confuses people.

Whenever new technologies emerge, there will be a huge swelling of people and ideas trying to fill that niche. The next step is the thinning. When new investor money starts to dry up, the money will start to flow to the eventual winning projects and there will be many losing projects. We saw this recently with the dotcom bubble, and I think we are experiencing it again right now. May the best currencies win! :)

Fwiw, I'm glad you're writing comments on steemit. :)

Agreed. Tobixen adds considerable value to these discussions.

In terms of "may the best coin win" are you diversifying your positions on various coins/tokens much?

Yeah, I have about 15 different coins.

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