>what is preventing all of the other cryptocurrencies from taking off?
Nothing at all. There have been dozens of "competing" digital currencies for several years now. Litecoin came along in early 2011. And it's extraordinarily easy to change Bitcoin to other digital currencies (much easier than USD <> digital currencies).
So obviously being first counts for a lot here. The network effect is strong.
Nothing at all. There have been dozens of "competing" digital currencies for several years now. Litecoin came along in early 2011. And it's extraordinarily easy to change Bitcoin to other digital currencies (much easier than USD <> digital currencies).
So obviously being first counts for a lot here. The network effect is strong.