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by Marazan 4521 days ago
What makes Bitcoin and Litecoin not scam coins?
2 comments

Nothing of essence, of course. I strongly believe Bitcoin is a bubble that will burst this year although I definitely recognize the innovation and awareness of certain problems that it brought. But at least you see some legitimacy and a level of assurance in VCs putting money into Bitcoin startups where Dogecoin and the likes are just honest scams, not even bubbles. What kind of a person would put money into something called BBQCoin or Junkcoin?
There's an argument that the world needs one cryptocurrency but not two. Therefore the first one (Bitcoin) is not a scam, but all others are.
Your second point doesn't necessarily derive from the first.

I can understand standardizing on only one cryptocurrency, but why not one that addresses many of Bitcoins' limitations?

I'm not saying it should be Dogecoin, actually I hope not, but it could be.

I agree that the one cryptocurrency doesn't have to be Bitcoin. What I left unsaid is that so far none of the altcoins provide enough improvement over Bitcoin that it's worth breaking compatibility.