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0 pointscriddell8y ago0 comments

I think it's easier to unseat Bitcoin than Facebook. With a cyrpto currency, it seems like all you would have to do is make mining more profitable on your currency than on Bitcoins.

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2 comments · 2 top-level

ballenf8y ago

It's the same problem as with FB. To get a mass exodus from BTC you need to have a mass exodus in advance in order to get value in the new currency. Everyone uses FB/BTC because everyone uses FB/BTC.

The advice that the usurper needs to be 10x better to win is applicable here, imo. It might even be 100x given the bigger stakes and greater risk aversion of the parties.

hectorlorenzo8y ago

This could easily lead to a race to the bottom. Maybe adoption will be the determining factor? What could determine a successful adoption rate for a cryptocurrency: governments, citizens, corporations? Amazon accepting a specific cryptocurrency and thus making it useful for the general public?

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