Bitcoin had an immaculate conception, in that the conditions of its launch can never be replicated. That's mainly because no one cared about it then, which — looking back — has been a real boost to its credibility. Why it matters: The distribution of any new form of money is important. The more people who have it and use it, the more people each person who has it can transact with. Money needs a big footprint. When a new cryptocurrency launches, creators put a lot of thought into how to get it into as many hands as possible (and outsiders put a lot of thought into how to game its distribution). Flashback: In July ... (full story)