|
May 27, 2013, 11:11:15 PM |
|
Anyone (with the technical skills) could create their own crypto-currency but it needs to be recognized by enough others to be viable. Right now Bitcoin is dominant. Each new BTC owner adds to the value of all the other bitcoins in the community so I would expect it to become a natural "monopoly" displacing all other similar currencies unless something fundamentally better comes along which would require another act of genius by someone. Until then I expect BTC to dominate and crush all other crypto-currencies, not because it is any better, but because it is a bigger and more recognized standard. Remember the very good VHS video standard wone out against Beta and 8mm. It wasn't better, it was simply more established and was still very good. That's how I think Bitcoin will win out.
|