/biz/ - Business & Finance

>>51620360
>compare litecoin to btc or digibyte to btc, both are far more superior far more efficient but they are worth shit.
They aren't more valuable whatsoever as they don't do anything unique. It's the same problem with the dozens of copy + paste ETH-killer coins that just reduce block times and increase gas limits to infinity and pretend they've solved some problem. Cryptocurrencies fundamentally only have value as social networks and so the holy grail is achieving a Schelling point as the "one true coin" within your sphere, not
>uhh I increased the block size and have a slightly tweaked mining/staking algorithm

This explains why Bitcoin and ETH hold up relatively well against their older clones as their network effect tends to aggregate people interested in those spaces towards a single coin, and (in general) the other coins in that same sphere tend to bleed against it. Monero's strength over the last few years have been in carving out it's own unique sphere of the "privacy coin" space which has manifested in it's rapid takeover of darknet markets away from Bitcoin. This is obviously conjecture, but I believe Monero has now achieved it's own independent gravitational system so to speak so that it's not longer just going to be an orbiter (bleeder) around Bitcoin, but can show relatively independent price movements (insofar as any coin can given macro trends), and this is especially important as Monero has achieved a Schelling point within it's own space as it has a higher market cap than every single other "privacy coin" combined (and infinitely more usage). That isn't any form of price prediction, rather just pointing out that (for better or worse) Monero stands in it's own space now and I don't think it's deterministically locked into bleeding like the vast majority of redundant BTC clones are (for example Monero is getting close to breaking it's 2021 XMR/BTC high despite the fact we're in a bear market, which is unheard of).