I've yet to see anyone explain why Bitcoin should have any greater value than any other coin. The arguments for Bitcoin can be made for any number of the other coins too.
Ultimately fiat currency will retain its value so long as the government requires you to pay taxes.
Cryptocurrencies are simply acting as a inflationary hedge.
Difference when compared to gold is that
Gold has a tangible use therefore it has a real value.Bitcoin cannot be usable as a stable method of payment while it is also being used as a inflationary hedge.
If you are buying today and it happens to be the top the previous top had a sharp 50% drop before it found a bottom.
Gold will not nuke down to $0 but Bitcoin could. However, overtime it's not much different to holding cash. Having a portion of your portfolio in Gold is probably preferable to holding cash right now, unless your risk tolerance for volatility is much higher in which case punt away on Bitcoin.
It is far more logical to me for governments to issue their own crypto currency with a limited supply and permit it to be traded like fiat currency. That - will have long term asset value.
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