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Old 02-11-2014, 07:35 AM   #904
nab911
Scooby Newbie
 
Member#: 119866
Join Date: Jul 2006
Chapter/Region: South East
Location: New York
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Quote:
Originally Posted by RastaMon View Post
I've said this for years, even back when bitcoin was the only cryptocurrency on the block, this has always been my biggest reservation with it. There's simply no end to the amount of parallel currencies. Bitcoin will always be the head honcho though and will continue to benefit from that. I don't see bitcoin going anywhere, but I'm more than willing to bet the dozens of others will fall by the wayside. They might be worth mining because who the hell not, not much a gamble/loss there.
That is the same as comparing me printing a bunch of my own currency using a finite resource. It is still a currency and it's only value is what MANY people accept it for. The reason currencies work is that they have a finite value that is recognized by MANY people.
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