[tom_mellior]

> Bitcoin may have some utility, but is that utility any different from another cryptocurrency?

Yes. It's easier to find shops that accept Bitcoin than it is to find shops that accept other cryptocurrencies. That's the utility: Being able to use it to buy stuff.

This utility is not because Bitcoin made superior technical choices, it's simply due to first mover advantage and network effects. If every place that accepts Bitcoin today started accepting other cryptocurrencies, Bitcoin would be likely to lose against those with higher transaction capacity and cheaper/more transparent fees.