Will Bitcoin make the same mistakes as Kodak did?

[Crypington]

I think at point bitcoin should move in another direction.  Bitcoins best use is “store of wealth” or “digital gold” ... it has so many problems with scaling, transaction fees, transaction delays, that I just can’t see it being used a serious currency.  But it will work well, like gold, as a store of value, and has basically the same characteristics.  Gold has a high price, high markup (fees), does make a good currency for real trade, and is better just horded. 

And with the miners getting Rich off fees, and controlling bitcoin’s fake, there is no incentive for them to make it a better currency.

Some other coin needs to learn from bitcoins “mistakes” and develope the “perfect” currency. 

[(Melania)]

Bitcoin is the big money now and the masses are using any coin with affordable fees.
Miners hate to scale because they couldn't profit from scaling.

[Nilda]

Apples and oranges. Kodak, like many other companies to evolve and adapt with the times (Nokia, Polaroid, Blackberry, etc.) are companies with CEOs and employees. Bitcoin is a currency that Kodak right now is using to finance their comeback.

[barneystinson]

You know, it is rumoured that Kodak invented the first digital photo technology, but they swept it under the rug, because they wanted to focus

on their film technology that worked. { Film made them the market leader in photography and they thought that it would be enough to keep

them at the top } Source : http://tech.fortune.cnn.com/2012/01/18/the-kodak-lie/

So what do we have here? Bitcoin think because it was the first to market with this technology, they do not need to adapt to the market needs.

The market wants scaling and it also wants cheap and fast transactions. Is Bitcoin providing what the market wants? If we think, Bitcoin can

stay on top, because we were first to market and we have a established network, then we will go down like Kodak. They also thought they had

the biggest share of the market and a big network of people using their technology... and look what happened to them. Adapt or DIE.  

Same as with all other companies, if they would not be adapting to the fast changing technology they would also get left out. So I think they just need to focus in developing their technology and should not allow other competitors to catch up.

[coinycoiny]

I think at point bitcoin should move in another direction.  Bitcoins best use is “store of wealth” or “digital gold” ... it has so many problems with scaling, transaction fees, transaction delays, that I just can’t see it being used a serious currency.  But it will work well, like gold, as a store of value, and has basically the same characteristics.  Gold has a high price, high markup (fees), does make a good currency for real trade, and is better just horded. 

And with the miners getting Rich off fees, and controlling bitcoin’s fake, there is no incentive for them to make it a better currency.

Some other coin needs to learn from bitcoins “mistakes” and develope the “perfect” currency. 

Bitcoin trying to be a "Store of wealth" is a desperate attempt by bag-holders to try and justify the price.

Its broken, its dying, move on.