The environmental impact of bitcoin mining is the major argument against it. I don't think it will be feasible in the long run. The fact there are allegedly mining farms in the Mongolian lake of dystopia Bautou undermines the infeasibility long term.
As pointed out elsewhere here, fiat currency is as equally arbitrary as bitcoin is.
Bitcoin's age and seeming resistance to network manipulation and cracking over a long period of time is really the source of its enduring value.
In my personal opinion/perception, the true devaluation of other cryptocurrencies occurred in the "aaaand its gone" twitter moment. Even if it was a joke/stunt, it really highlighted the superfluous nature of almost all cryptocurrencies besides BTC.
As pointed out elsewhere here, fiat currency is as equally arbitrary as bitcoin is.
Bitcoin's age and seeming resistance to network manipulation and cracking over a long period of time is really the source of its enduring value.
In my personal opinion/perception, the true devaluation of other cryptocurrencies occurred in the "aaaand its gone" twitter moment. Even if it was a joke/stunt, it really highlighted the superfluous nature of almost all cryptocurrencies besides BTC.