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>all of these random tokens are functionally identical from the perspective of most users.

If a clone of Bitcoin is identical to Bitcoin then why does Bitcoin trade 25x the price of a clone? Your argument would cary weight if the protocol and price facets were similar. The market says otherwise.

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"why does Bitcoin trade 25x the price of a clone?"

Because humans are stupid, faddish creatures.

The market can remain irrational longer than you can remain solvent.

The point was, in fact the bitcoin and bitcoin clones are not "functionally the same thing". If they were, there wouldn't be discrepancies between the two. Clearly the market punished the clone.

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