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Thread: Bitcoin v/s Other Cryptocurrency

  1. #1

    Bitcoin v/s Other Cryptocurrency

    So I am starting to re-think my position concerning bitcoin and kick myself for not getting in back in 09. However, the last concern that I have had still remains and I wonder if anyone here could speak to this concern. With all of these other cryptocurrencies sprouting up everywhere, why chose bitcoin over any of them? Why not just jump on every new one that pops up and will the emergence of all these new ones necessarily bring bitcoin down? Thx..



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  3. #2
    Part of what makes a cryptocurrency valuable is the amount of network resources verifying transactions as this increases security. Another part of what makes them valuable is how widespread their use is and who accepts them.

    Bitcoin is the most popular, you can ultimately buy just about anything and has the most network infrastructure verifying transactions.

    That doesn't mean there won't be complimentary cryptocurrencies or that another cryptocurrency won't take out bitcoin some day, but there would have to be a good reason for that.
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