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4500 physical shops accept bitcoin and many websites as well
hundreds of thousands of users use bitcoin
in other words bitcoin has much more support, and there's the value.
Why is facebook worth billions and myspace worthless? Same reason.
hundreds of thousands of users use bitcoin
in other words bitcoin has much more support, and there's the value.
Why is facebook worth billions and myspace worthless? Same reason.
That proves my point: Myspace used to be worth way more than Facebook, this shows that the "first mover" advantage is not absolute.
IMHO, all these other *coins are a distraction. Bitcoin still isn't widespread enough. Even though there are thousands of merchants who accept Bitcoin, that is still a TINY, TINY percentage of merchants. The far majority of the population would say no to replacing their fiat currency with Bitcoin, at this time. Instead of competing with Bitcoin and taking away any marketshare from Bitcoin, even if it is small marketshare, the resources spent on the other *coins should be spent on Bitcoin, as Bitcoin still needs help to become established.
