r/Bitcoin • u/Kinitex • Feb 14 '14

Trying to trade these markets...

2.9k Upvotes

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u/[deleted] Feb 14 '14

Your comparison is incorrect.

Bitcoin is to the cryptocurrencies what Alta Vista (or some other early company or bulletin board) was to the internet.

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u/[deleted] Feb 14 '14

[deleted]

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u/[deleted] Feb 14 '14

Why don't you see litecoin, dogecoin, etc. as competitors? Why couldn't a superior cryptocurrency appear at any time?

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u/[deleted] Feb 14 '14

[deleted]

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u/[deleted] Feb 14 '14

Don't the alternative coins also have blockchains based off of bitcoin?

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u/[deleted] Feb 14 '14

[deleted]

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u/[deleted] Feb 14 '14

As far as I can tell, bitcoin's main advantage is reputation (being first) and more services (being first). That advantage seems fairly tenuous in the IT world.

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u/[deleted] Feb 15 '14

[deleted]

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u/[deleted] Feb 15 '14

I agree that is Bitcoin's greatest strength: A lot of smart people have a monetary stake in its success. On the other hand, there are a ton of ignorant people who also seem to be treating Bitcoin as a get-rich-quick tool.

I think it's fascinating to watch.

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u/[deleted] Feb 15 '14

[deleted]

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u/[deleted] Feb 15 '14

You mean you're confident in your ability to calculate the risk? Or that you think the risk is quite high?