Quote:
Originally Posted by InfoGuy
While Bitcoin may be capped at 21 million coins, there's currently about 15,000 other coins and likely many more coming in the future, so we can both agree that the world of cryptocurrencies is not finite by any means. It's like the domain industry. There's a finite quantity of quality .com domains, but there are now over a thousand different competing extensions, so essentially an unlimited supply for the alternative non-.com domains.
The value of money comes from people knowing and trusting that someone else will accept the value of that money. Do you think most merchants would accept any of the cryptocurrencies that are not among the top 10?
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90% of all BTC coins are owned by 0.6% of the wallets
98% of all BTC coins are owned by 3% of all wallets...
the same is true for other currencies...they are not decentralized in any way...from mining to ownership, they are controlled by a small few...and this makes them shit for storing value...you are practically gifting your money to the 1%...you put fiat in they take fiat out you are left with an empty bag...but its great for trading
