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A comment on Bitcoin hits 3-year peak, nears record high on U.S. ETF approval. Parent comment

Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by wmf on Thursday February 23, 2017 @03:43PM (#13717589)
Bitcoin has been "objectively obsolete" for a while (Ethereum, Monero/ZCash etc.) yet its value increases. Maybe people are investing for some other reason such as network effects.
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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by problems on Thursday February 23, 2017 @04:27PM (#13717961)
Yeah, I have to imagine that a lot of the practical use cases would be better on Monero or ZCash where cryptographic anonymity can be had.

Especially in black market type transactions this is hugely beneficial.

That said, a lot of the infrastructure is only on the Bitcoin front still - only a few exchanges offer other cryptocurrencies.

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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by Frogolocalypse on Thursday February 23, 2017 @09:21PM (#13720303)
It's actually pretty easy to get alts. Buy bitcoin, go to a site like poloniex (there are lots of them) and trade your bitcoin for the alt.
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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by problems on Friday February 24, 2017 @01:11AM (#13721470)
Yeah totally, but my point was a lot infrastructure still revolves around Bitcoin, not alts.
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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by mark_edward on Thursday February 23, 2017 @08:36PM (#13720034)
In the case of investing, isn't network effects a euphemism for bubble?
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Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a... by wmf on Thursday February 23, 2017 @09:57PM (#13720520)
Mostly yes, although Bitcoin probably has more exchanges and more liquidity than other cryptocurrencies.
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