However if myspace2 was simply a clone of myspace without any innovative features then it would have died on the vine.
Can something replace Bitcoin because it is superior? Sure however the network effect makes that a high barrier to entry.
Is LTC that "something"? No. Not even close.
You are right LTC is not superior, it doesn't need to be. Is facebook superior than myspace? Probably not, it's different. Coming up with analogies wouldn't help any argument here, cryptocurrencies are just too different from everything else for it to make sense.
I suggest you trash that ebay analogy cuz I can come up with several examples which are just as invalid where the copy exceeded the original.
It just doesn't matter how you compare it cryptocurrencies are something unique.
As for the network effect itself: In case of Bitcoin it is self quenching, in periods. We had one of these periods last year and there could be another one next year. These occur independently of developments in alternate cryptocurrencies but they give them space. Litecoin amoung it's predecessors was thought up during last years period and if it makes it through the coming year it will exhibit growth during the next bitcoin resession.
Now there will be those who will blame LTC for the resession while this just isn't true. Capital flowing of from bitcoin would otherwise flow to the USD and result in a worse impact.
Now you could say there will never be again a bitcoin recession, but that would be like to say there will never be a snowstorm.
