[ExI] Bitcoin

[Eugen Leitl]

On Fri, Apr 05, 2013 at 03:28:46AM -0700, Gordon wrote:

> I'm thinking that if there is an argument for the long term viability of
> BTC as a non-fiat-like currency, it must hinge in part on the idea that it
> will defeat all its digital competitors.  

Bitcoin has the following going for it: it is well designed, and it was the
first, so in terms of network effect it's king. So while there is space
for a few minor competitors, long-term (the only reason there are contenders
now is because designers/early adopters hope to profit from a similiar value
infusion, sooner or later quite a few of them will give up), but unless there 
is a fundamental flaw or deficiency in scope in the Bitcoin design it's hard 
to see how its dominance will be broken.