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Title: Confused here - Will Bitcoin still be #1 cryptocurrency in the Future? Post by: ctu3308 on November 23, 2013, 01:21:41 PM (To preface - My understanding of code/software is somewhat lacking)
I understand that Bitcoin is by far the most accepted, funded, and used cryptocurrency right now. But I don't quite understand why Bitcoin is fundamentally better than some of the alternatives? Don't some of the major alternatives have quicker confirmation times, require less resources to operate, etc.. ? Title: Re: Confused here - Will Bitcoin still be #1 cryptocurrency in the Future? Post by: Hazard on November 23, 2013, 01:30:47 PM First mover advantage
Networking effect Small technical improvements don't matter compared to those. Title: Re: Confused here - Will Bitcoin still be #1 cryptocurrency in the Future? Post by: Praxis on November 23, 2013, 01:42:30 PM It's 1996 Confused here - will AltaVista still be #1 search engine in the future? It's 1998 Confused here - will Napster still be the #1 peer-to-peer file sharing network in the future? It's 2000 Confused here - will MySpace still be the #1 social networking platform in the future? Title: Re: Confused here - Will Bitcoin still be #1 cryptocurrency in the Future? Post by: rellix on November 23, 2013, 01:49:29 PM It's 1996 Confused here - will AltaVista still be #1 search engine in the future? It's 1998 Confused here - will Napster still be the #1 peer-to-peer file sharing network in the future? It's 2000 Confused here - will MySpace still be the #1 social networking platform in the future? Valid point, but these were (and its replacements remain) free services that users can come and go with as they please. Bitcoin and all cryptocurrencies have a buy in value, and now that Bitcoin has gotten so much public hype, do you really think Jimmy who just heard about it on CNBC and bought a few bitcoins is going to jump to WhateverCoin? Jimmy only knows and cares about two things: bitcoin and usd. Title: Re: Confused here - Will Bitcoin still be #1 cryptocurrency in the Future? Post by: MicroGuy on November 23, 2013, 02:05:41 PM https://www.gldtalk.org/devteam/max.png
But I don't quite understand why Bitcoin is fundamentally better than some of the alternatives? Don't some of the major alternatives have quicker confirmation times, require less resources to operate, etc.. ? Exactly. And let us not forget that Bitcoin's original developer abandoned the currency mid-project and vanished into thin air. I would compare Bitcoin to the early search engines of the Internet. Google came later and the altcoins are just getting their feet wet. Bookmark: http://coinmarketcap.com/ |
