So I’m pretty buse with crypto the last 1.5 month onwards. But there is this thing I do not understand.
Bitcoin does not do anything (unlike ethereum for example).
Someone could literally copy the code and start Bitcoin2. There is a limited amount of bitcoin, but not a limited amount of possible cryptocurrencies, so unless bitcoin actually does something that other crypto cannot do, it seems to me that it only has two things going for it:
1. it is the currently denominated currency of a large part of the crypto ecosystem. Although a lot of trades can also be done with (w)ETH as denominated currency, or basicly any other pair someone puts up on uniswap/sushiswap/pancakeswap/quickswap/whatever, it seems to have secured a consensus position.
2. A good name. Don’t get me wrong, a good name is powerfull and I should know: “gradient descent” which powers a LOT of AI has been invented multiple times over (with fancy names like “stochastic delta rule”) before it had any uptake. A good name makes it possible for people to think about things.
Could someone explain to me what the added value of bitcoin is?
You do not have to convince me of crypto, I hold multiple rank 150+ crypto (by marketcap, on [coinmarketcap.com](https://coinmarketcap.com)) and am looking for more crypto with specific use cases/existing partnerships, but I just do not undestand why people value bitcoin this much over other crypto, except for monkey see monkey do.
Edit: Sorry for not being able to keep up, inbox=explode.
Edit2: Many people are say “*Bitcoin is a good store of value*”, I sort of understand why it would be in comparison to the dollar/fiat, **but why in comparison to other crypto?**
Edit3: Saying it is gold does not make it gold, if you think it does then realise you’re investing in a literal meme. Not saying that’s bad, just saying you should realise. I’ll stay with my alts/shitcoins, as some people call them. I sent myself a remindme botcommand message somewhere in the thread in response to someone mentioning shitcoins so I can laugh at him/her in a year.
Apparently people really get worked up about it being finite/scarce. Maybe me not experiencing this is the main reason I do not understand it.
View Reddit by Laafheid – View Source