Re:Citadel's Ken Griffin Says Bitcoin ‘Bubble’ May End in Tears
by CameronBanga on Monday November 27, 2017 @03:41PM
(#15791096)
I think the biggest benefit though, is name recognition. When people think of crypto, they think Bitcoin. That's the biggest issues Litecoin and Ethereum have now.
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Re:Citadel's Ken Griffin Says Bitcoin ‘Bubble’ May End in Tears
by matwood on Monday November 27, 2017 @03:49PM
(#15791200)
Yeah, most of my crypto is in ETH because I think it has value beyond the hype. BTC has the name recognition and thus has the 'dumb' money buying in like crazy. My thesis though is that long term crypto is useful and will be worth something. How much is hard to quantify right now.
Re:Citadel's Ken Griffin Says Bitcoin ‘Bubble’ May End in Tears
by guardiangod on Monday November 27, 2017 @03:47PM
(#15791178)
Exactly, that's why I mentioned that Bitcoin is coasting on its reputation. IMO a technology cannot survive with name recognition alone. Myspace vs Facebook comes to mind. Everyone knew Myspace, but they made no improvement and at the end, Facebook (via superior features) stole its lunch.
I chose this example because both financial markets and Web 2.0 depends on network of scale to be efficient. At the same time, just because most people use your product today, doesn't mean they will remain to do so tomorrow. Constant improvement is the key, and Bitcoin is actually regressing in its utility.