Quote:
Originally Posted by Regorium
But now that there's more and more "crypto-currencies" popping up (litecoin, namecoin etc.), it's pretty obvious there really isn't significant value of bitcoins as a currency. Attract some computing power and people with dreams of being the early adopter with 10000 coins when it's worth $0.01, then pump/dump and move on to the next.
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The alternative crypto-currencies are not new. They came out 1-2 years ago and none have managed to catch on and hold significant value like Bitcoin. They were simply alternative currencies started by people who wanted a bigger piece of the pie for themselves or were disgruntled with the architecture of Bitcoin but all are mostly worthless compared to Bitcoin.
I don't think anything that comes out is going to rival Bitcoin barring a major crash/failure of the entire underpinning system.