Quote from: lionheart78 on Today at 09:49:42 PM

Quote from: cogsmachine on Today at 02:14:56 PM

Shouldn't all crypto be backed by bitcoin ?
How could a "Bitcoin Standard" emerge? For example, if you could pay for food service etc everywhere with bitcoin, would that be enough to essentially drive bitcoin as a backing standard ?

If we follow your idea then I don't think we need another cryptocurrency. Why do we need extra effort to create another cryptocurrency when Bitcoin can already do its purpose?

I would not be as quick to judge on this. Innovation is good. Its obviously the driving force behind the new generation of money technology, aka "Bitcoin".

One day there might be a better alternative cryptocurrency alternative to Bitcoin and us devoted Bitcoiners will have a hard time accepting that fact.

However that day has not come yet. Every altcoin is nothing but a cheap imitation or a unrequired derivation of Bitcoin and/or the blockchain technology behind it and is therefore unnecessary. But I am sure a few people would disagree with me on that. Especially since we can't really do some things like DeFI or complex smart contracts with Bitcoin.

But you are correct in assuming that Bitcoin is currently fullfilling its purpose of being an alternative to the current corrupt and government controlled monetary system. Everything else is just extra.