Hacker News new | ask | show | jobs
by ForHackernews 2562 days ago
The point is that all of these random tokens are functionally identical from the perspective of most users. If you're claiming there's a hard limit on the number of limited edition funko pop action figures produced, you'd better be able to explain what makes them any different than these other identical clones.

It'd be like if counterfeit designer clothes were actually indistinguishable from the "real" ones, and arguably better made in some cases.
3 comments
easymodex 2562 days ago
Yeah but they are not functionally identical as Bitcoin's value comes from it being immutable, decentralized and failure-proof.

Also a better analogy would be that you can make 1000 copies of the Mona Lisa in whatever way you want, they will still be just copies and they will be worthless.

link
ForHackernews 2562 days ago
Bitcoin is just a shitcoin that happens to be popular right now. All the other altcoins make the same "immutable, decentralized and failure-proof" claims.
link
easymodex 2562 days ago
Bitcoin is the only one with a track record to prove it.
link
beaner 2562 days ago
The utility is not just in it's function but since it's money, also in it's purchasing power and it's network.

Your analogy is more like getting the Facebook database and spinning up 100 clones of it, all with 3 billion users. Now "Facebook" has 300 billion users. It could have a trillion or a quintillion right? Or an infinite amount. But what does that even mean if the actual 3 billion people only use the original network? It means Facebook is still Facebook, and forking it, in terms of how it affects the network it its value, is relatively pointless.

You're not making a real point.

link
DINKDINK 2562 days ago
>all of these random tokens are functionally identical from the perspective of most users.

If a clone of Bitcoin is identical to Bitcoin then why does Bitcoin trade 25x the price of a clone? Your argument would cary weight if the protocol and price facets were similar. The market says otherwise.

link
ForHackernews 2562 days ago
"why does Bitcoin trade 25x the price of a clone?"

Because humans are stupid, faddish creatures.

The market can remain irrational longer than you can remain solvent.

link
DINKDINK 2562 days ago
The point was, in fact the bitcoin and bitcoin clones are not "functionally the same thing". If they were, there wouldn't be discrepancies between the two. Clearly the market punished the clone.
link