I Don't Get It. Why are the Bitcoin Copy Alt-coins Pumping

in #bitcoin7 years ago (edited)

I do understand that Bitcoin transactions can be slow and expensive. There is a cost to having 11,000+ full nodes and EXA amounts of hashing powers. The network is large, redundant, and secure. There is a real cost to infrastructure. It has taken 9 years to build.

These new coins/token come out claiming to be faster and cheaper. I'm sure that is true but no one is using the networks.

If or when they are used they too will have to get bigger and more expensive.

There is but one Bitcoin. It is proven, decentralized, and hardened. It is the network any reasonable informed person/company will use. With the use of segwit and lightening speed will increase and costs will decrease.

We don't need 100s or 1000s of Bitcoinish coins and tokens. Many people will get burned and loose lots of money.
It is unfortunate that there is a whole industry embracing the greater fool ideology.

Dunce_sign.gif