Quote:
Originally Posted by PornMD
Friendster was "first to market" too. Then came MySpace, then Facebook. Now no one knows wtf Friendster is. You think there aren't any other nerds out there that can come up with an algorithm and market it better? Hell, what other business relies on an algorithm? Search engines. Was Google the first search engine? Fuck no.
Bitcoin is expensive right now, whereas Wirecoin and GCoin and CyberCent and whatever else comes tomorrow will start off the same cent or 2 cents each or whatever and the craze will turn to that, then Bitcoin will all of a sudden be nearly worthless.
Bitcoin isn't even the first of its kind technically. Remember Flooz? There were stores that accepted that. Til there weren't.
Collapse simply doesn't happen to normal currencies - maybe 3rd world ones like Zimbabwean dollars, which now are at least useful as toilet paper. When bitcoins are worthless, you can't even wipe your ass with them.
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good points man. your right that flavors change all the time on the web. But not in all cases. nothing has really threatened amazon or ebay's success. I doubt businesses are going to want to deal with dozens or hundreds of ecurrencies, so i would expect a dominant player to emerge if the business model becomes mainstream.