Two reasons: 1. No inherent value or government-imposed value 2. Infinitely forked. No stopping Bitcoin 2, bitcoin 3, etc etc
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The existence of hundreds of cryptocurrencies says to me they're all doomed. I don't know why they're not zero yet, but look at tulips
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The cost of mining doesn't really mean anything. Digging a hole and filling it back in can be expensive
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"All other crypto currencies" means what, all currencies based on the blockchain concept current and future ?
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Ok, I should say that one could conceivably make a blockchain-based currency backed by govt force or hard assets, and that would be fine.
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Ok I do think national currencies will end up using this technology .. however "hard asset" backing isn't needed... but slightly off topic
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If the Federal Reserve started issuing blockchain notes, I think that would work fine
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On the same page.
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