bitcoin is just a Brand andreas antonopoulos is delusional

[shangerlaa]

I watched some of this guys you tubes and he compares bitcoin to email. Bitcoin is just 1 brand of a lot of virtual/digital coins out there. Its not the technology its just one brand of the technology. So comparing it to email or the internet is laughable. It would be like one brand of email like yahoo email. Or googe email. He never talks about what moat bitcoin has built around it from the other virtual coins. So my question is what moat does this have around it from a competing coin to take this apart. Its just like myspace got destroyed by face book. Technology is so fast someone could make a coin thats easier and safer to use then bitcoin and if it catches on boom bitcoin is done. he is right crypto currency has a bright future. The technology is great. But bitcoin is just 1 brand of the technology and the guy is just delusional like hes some snake oil sales man for bitcoin. I wonder if he is the one that made it. Hes confusing people with crypto currency and bitcoin. Crypo currency is the email and bitcoin is like google mail of it. So can someone explain how it has such a strong moat around it that other crypto currencies can't de throne it? I do think bitcoin right now has a strong future but again its just one brand of many crypto currencies and many more will be made to compete with it especially greedy billionaires who will try to monopolize the market with a super crypto coin.

[RodeoX]

True there are lots of other crypt-currencies, however I think bitcoin has some advantages that keep it far out in front of the others.

1. First mover advantage. Bitcoin is a revolutionary idea and represents the first system to solve hard problems like double spending and the Byzantine generals problem. Being first has led to bitcoin growing into the largest distributed computing network in history. The other alt-coins are just copies of this idea and very few have anything else to offer.

2. Bitcoin simply better than most alts. Alt-coins tend to be created to serve a few people. They may be focused on more mining revenue or heavily pre-mined or more anonymous. These features may be compelling to some, but generally they hold back broad adoption. And of course many alts are just a joke. Bitcoin is a serious attempt vs. say doge coin, which is based on some guys cute dog.


3. Universality. Eventually we will see many banks and businesses trying to make their own coins. They would love to see customers buy their coin. A coin they control the distribution and valuation of. A coin that can be used at their outlets. In other words, a coupon.  That has no appeal at all to me. Only bitcoin works worldwide and allows me to pay anyone anywhere in a way that is faster, cheaper, and more secure than any other method.

For an alt to succeed at beating bitcoin it is going to have to beat bitcoin at it's own game.

 

[spazzdla]

99% of crypto people believe BTC is #1 thus it is #1...\


HOW do you plan on changning my mind that some altcoin is worth more?

Same reason gold is worth so much more than silver.  

We all believe BTC has a lot of value therefor it does.  How do you change that belief to coin x? 

[shangerlaa]

Bitcoin is not a revolutionary idea. Thats completely wrong and thats what that guy andreas is trying to get people into brained washed into believing. Thats a snake oil sales pitch. Crypto currency is a revolutionary idea. Bitcoin is just 1 brand. Bitcoin is not the same as gold or silver. Gold and silver is its own commodity someone can't make a brand to copy it and compete with it. Bitcoin has that problem that its not a commodity and its 1 crypto currency among new currencies that will be made. Right now it looks great but . Then you got not just crypto currencies competing but other things too. You got paypal. Facebook is going to make its own form of money. You got apple pay. All these things use digital technology to make transactions and their own style of money that people will catch on too not cause its a great way to do transactions because of their eco system and all their users. And they got the brightest minds working for them to make great software thats easy for people to use.

Today i went through the different businesses that accept it and bitcoin does look promising. They got home depot, cvs, target, amazon etc different very big businesses accepting it. I think thats going to be the driver for bitcoin the more big businesses that accept it and not accepting other crypto currencies for payment. I just dont' see that lasting. I look at it more as bitcoin is the first but not the last. But as crypto currencies get more popular especially the newer ones at some point they will just want the transaction so they will take different crypto currencies just like different credit cards. Now when that happens bitcoin loses a ton of value cause then people can buy the cheaper less volatile coins to purchase items with. Thats the weakness I see in bitcoin. If they take bitcoin they might as well take other ones too. Its just 1 brand of coin. Businesses don't really have a reason to take 1 crypto currency when they can cash the other ones for cash as well.

I do own bitcoin as I believe its going in the right direction, but I still think a lot of you are still confused thats its not this revolutionary thing crypto currencies are not bitcoin and bitcoin is still just 1 brand of all the different kind of coins and paypals out their being made. And only more are going to come out. So what is bitcoin doing to make it the supreme coin that will monopolize the market when crypto currency has this huge boom?

[shangerlaa]

99% of crypto people believe BTC is #1 thus it is #1...\


HOW do you plan on changning my mind that some altcoin is worth more?

Same reason gold is worth so much more than silver.  

We all believe BTC has a lot of value therefor it does.  How do you change that belief to coin x?  

It doesn't work that way that you believe bitcoin has value so it does btw. YOu believing in it has nothing to do with it. Its all based on transactions and corporations accepting it as a form of payment. Then it has value. I can see the brain wash snake oil sales man effect taking its control over you. This is andres youtube comments about how great bitcoin is revolutionary idea and a belief. Nope crypto currency is a revolutionary idea and bitcoin is just 1 brand. Just like credit cards visa, mastercard now businesses take all kind of diff credit cards and gift cards. It would be like when visa first came out with a credit card and he compares visa to the internet and its a revolutionary idea. No the credit card is a revolutionary idea and visa is one brand. Its going to be the same way with crypto currency at some point to do a transaction wont they just take a bunch of them? A business has no reason to say we only want bitcoin. You think they care if its tied to a bank or not? They will take the litecoin just as well and cash it in just like bitcoin. It doesnt have the popularity yet but as cryptos get more popular it will. Right now I think bitcoin has a nice moat but as soon as  Isee big corporations taking the other coins I probably will dump it for a cheaper less volatile coin

Gold is worth more then silver is because its a better quality metal that doesn't tarnish. Silver tarnishes so thats a big reason their is a huge difference in price.

[odolvlobo]

SMTP (the email system used by just about everyone) wasn't, and still isn't, the only email system. There are alt-emails, but they have mostly faded away or they remain insignificant. I think it is reasonable to compare Bitcoin to email, even if it is just a brand.

TCP/IP (the network protocol that powers the internet) wasn't, and still isn't, the only network protocol. There are alt-protocols, but they have mostly faded away or they remain insignificant. I think it is reasonable to compare Bitcoin to the Internet, even if it is just a brand.

Bitcoin is the first (workable) cryptocurrency, and it is the biggest cryptocurrency by a very wide margin. However, I don't think anyone would disagree (including Andreas) that it is possible that another currency may replace it someday.

The fact that silver tarnishes has little to do with its value compared to gold. Scarcity is a bigger factor.