Low Information Voter on Nostr: Some are supply-limited and proof-of-work, some are not. Even most of the good ones ...
Some are supply-limited and proof-of-work, some are not.
Even most of the good ones are mostly just "bitcoin clone, but without merchant adoption or field-tested security".
Some have unique features. "Privacy coins" like Monero (XMR) use mathematical techniques to prevent tracking users on the blockchain, which has driven widespread adoption in privacy-conscious online markets.
ETH has on-chain "self-executing contracts", which was revolutionary when it came out, but its supply is controlled by a privately owned corporation, so thats a hard no from me.
Maybe one day an altcoin will dethrone Bitcoin, as bitcoin dethroned HashCash et al, but most probably most altcoins will crash and burn, while the few good ones continue to be used alongside Bitcoin to do things bitcoin does not (like privacy).
Even most of the good ones are mostly just "bitcoin clone, but without merchant adoption or field-tested security".
Some have unique features. "Privacy coins" like Monero (XMR) use mathematical techniques to prevent tracking users on the blockchain, which has driven widespread adoption in privacy-conscious online markets.
ETH has on-chain "self-executing contracts", which was revolutionary when it came out, but its supply is controlled by a privately owned corporation, so thats a hard no from me.
Maybe one day an altcoin will dethrone Bitcoin, as bitcoin dethroned HashCash et al, but most probably most altcoins will crash and burn, while the few good ones continue to be used alongside Bitcoin to do things bitcoin does not (like privacy).