Alternative cryptocurrencies like Litecoin and Peercoin offer the same advantages over traditional means of transferring funds electronically. The fact that these currencies trade like pennies compared to Bitcoin indicates that the current BTC price has more to do with the perception that BTC is a store of value than it does with its actual technological merits.
Disagree. BTC's current value relates to the accurate prediction that it was first on the scene, is currently the most widely adopted, and is slated to have hundreds of millions more poured into it, in the future. The mere existence of copycats doesn't mean the first version is automatically the same value as the copycat. That logic doesn't resonate with me at all.
That would be like saying a Led Zeppelin cover band could sell the same number of albums as Led Zeppelin.
This value disparity can only be justified if BTC is essentially preordained to remain the world's dominant cryptocurrency.
That's exactly why its justified. Not sure what predordained has to do with it. What really matters is moreso adoption.
-Burger-