[runeks]

> They're referring to any unique characteristics that give Bitcoin value in competing with other cryptocurrencies, which is mostly true.

The unique characteristic that makes Bitcoin more valuable than all other cryptocurrencies is liquidity. The order book depth for the USD/EUR Bitcoin market is more than an order of magnitude greater than all other cryptocurrencies combined.

The more liquid a monetary unit is, the less friction is involved in using it for exchange, since you pay the spread (which increases with order size) every time you enter and leave the Bitcoin market.

This is the only reason gold is still so valuable: it has immense liquidity/market depth, meaning you can quickly offload it on the market when needed. This is very useful, and the defining property of money.