Comment by jkhdigital
4 years ago
> even though the number of Bitcoins is limited, the number of cryptocurrencies is not.
There will only ever be a single dominant SHA-2 PoW cryptocurrency, because mining power can be expended on only a single chain. Doesn’t matter how many new genesis blocks are minted, this is a natural monopoly and Bitcoin clearly is the monopolist.
Bitcoin being the "dominant" cryptocurrency doesn't seem to change any of the parent commenters points, right? Those regarding intrinsic vs extrinsic value?