themisescircle.org

Do we even need Bitcoin anymore? Discuss. Recently a blogger called Daniel Krawisz wrote a [controversial article](http://themisescircle.org/blog/2014/03/14/the-coming-demise-of-the-altcoins/) calling on Bitcoiners to focus their efforts in bringing about the destruction of all "altcoins". His argument is essentially that Bitcoin has already won the race, and as such altcoins are merely a hindrance to Bitcoin's long-term objectives. My opinion is that a cryptocurrency landscape inclusive of a variety of coins is better than a single system governed by *one* coin, and that freedom of choice generally rules the day. Luckily, most others seem to share this view, and as such the article generally wasn't very well received. Nonetheless, the article did still make me a little angry for its arrogance in attempting to portray Bitcoin as the greater coin relative to alternatives. And then I started to think, do we even *need* Bitcoin anymore? Isn't it the case that whatever Bitcoin can do, other coins can do much better? Hands up who actually enjoys waiting for the long sluggish confirmation times anymore? I certainly don't. The fact that the majority of other coins use Litecoin as their technological basis rather than Bitcoin surely proves that Bitcoin is an already out of date technology. It seems to me that the only reason Bitcoin exists is because it has the luxury of the highest market cap, which in turn only is the case because of the inertia of the situation. Is it not the case that if Bitcoin did not presently have the highest market cap it would inevitably die a slow death? If a coin brings nothing to the table then what use is it? Bitcoin unquestionably has its place in the history books, but I no longer see the point in it when you can just as easily use faster and better coins. I would like to hear other people's perspectives: Should Daniel Krawisz have his way - should we be actively conspiring to bring about the destruction of altcoins? Or inversely, do

Do we even need Bitcoin anymore? Discuss. Recently a blogger called Daniel Krawisz wrote a [controversial article](http://themisescircle.org/blog/2014/03/14/the-coming-demise-of-the-altcoins/) calling on Bitcoiners to focus their efforts in bringing about the destruction of all "altcoins". His argument is essentially that Bitcoin has already won the race, and as such altcoins are merely a hindrance to Bitcoin's long-term objectives. My opinion is that a cryptocurrency landscape inclusive of a variety of coins is better than a single system governed by *one* coin, and that freedom of choice generally rules the day. Luckily, most others seem to share this view, and as such the article generally wasn't very well received. Nonetheless, the article did still make me a little angry for its arrogance in attempting to portray Bitcoin as the greater coin relative to alternatives. And then I started to think, do we even *need* Bitcoin anymore? Isn't it the case that whatever Bitcoin can do, other coins can do much better? Hands up who actually enjoys waiting for the long sluggish confirmation times anymore? I certainly don't. The fact that the majority of other coins use Litecoin as their technological basis rather than Bitcoin surely proves that Bitcoin is an already out of date technology. It seems to me that the only reason Bitcoin exists is because it has the luxury of the highest market cap, which in turn only is the case because of the inertia of the situation. Is it not the case that if Bitcoin did not presently have the highest market cap it would inevitably die a slow death? If a coin brings nothing to the table then what use is it? Bitcoin unquestionably has its place in the history books, but I no longer see the point in it when you can just as easily use faster and better coins. I would like to hear other people's perspectives: Should Daniel Krawisz have his way - should we be actively conspiring to bring about the destruction of altcoins? Or inversely