bitcoin might be like IBM

[allaboutcrypto]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

[ICO Lancer]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

this is life and economics, competition rules the market, if bitcoin will not be strong enough it will be defeated with competitors. This could happen with everything not only bitcoin.

[allaboutcrypto]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

this is life and economics, competition rules the market, if bitcoin will not be strong enough it will be defeated with competitors. This could happen with everything not only bitcoin.

so my concern is that bitcoin cant stand the pressure from competition and fold

[blockman]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

I'm not worrying at bitcoin at all but this is very possible. Technology are moving fast and upgrades are coming so if something that has been surpassed when it comes to usability and it's no longer that great in terms of it's service then something new will come out and will be used in the future. However, with your comparison to IBM on these days IBM is still well known and used and it's one of the biggest tech company worldwide.

[allaboutcrypto]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

I'm not worrying at bitcoin at all but this is very possible. Technology are moving fast and upgrades are coming so if something that has been surpassed when it comes to usability and it's no longer that great in terms of it's service then something new will come out and will be used in the future. However, with your comparison to IBM on these days IBM is still well known and used and it's one of the biggest tech company worldwide.

but its a shadow of its former self and if you don't believe me go out and buy an IBM system also all of the upgrades haven't really solved anything were still struggling with scaling even at this point and as we grow it's going to get worse

[Hydrogen]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

....

IBM was bought out by a chinese firm and is now rebranded as "Lenovo". Anything with the Lenovo trademark on it is what used to be IBM.

Discussing what led to IBM's downfall would make for an interesting discussion. Unfortunately, I don't think anyone here knows what circumstances led to its demise. Corporate culture appears to be one of the leading failures of american big business. Many executives feel entitled to fly on private jets on the company tab and engage in otherwise wasteful and expensive lifestyles the company covers. Such led to the downfall of General Motors and Chrysler which had to be bailed out.

By contrast, walmart executives fly on regular airlines and sleep in cheap hotel rooms.

There's a claim that union fees are too high which leads to american business failing. What disproves that claim is Ford having the same union issues as Chrysler and GM and still managing to be competitive.

IBM might have failed but Dell and other american based PC manufacturers are still going strong.

I don't think any of the altcoins or forks have what it takes to dethrone bitcoin. There's a lot of hype behind ethereum, bitcoin cash and similar crypto. But not a lot of legitimate facts to support those claims, afaik.

[avikz]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

That's somewhat true! When a company feels complacent about their market position and thinks that they will never be taken down by any competitor, that's when the downfall starts. To survive through the hostile competitive market, the leader of company should always evolve their products and business models. If they feel their products are second to none even after facing huge competition, they will see the downfall doe sure. That's exactly what is happening with bitcoin as well.

We all know that lightening network is the need of the hour. Implementing LN can help survive bitcoin and resolve the scaling issue once and for all. If the things are moving to similar direction like the current situation, bitcoin will be taken over by a worthy contender for sure. It needs up gradation to survive and if it's not done, everything will fall into pieces.

[ICO Lancer]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

this is life and economics, competition rules the market, if bitcoin will not be strong enough it will be defeated with competitors. This could happen with everything not only bitcoin.

so my concern is that bitcoin cant stand the pressure from competition and fold

I do not think that it is concern, i think this is realistic view that everything might happen, this does not mean that we do not believe in the bitcoin success.

[marlonBitCoin]

I also suspect that this could be the case as this crypto market space is changing rapidly and bitcoin could be the IBM of crypto.

[ekateriinae]

I also suspect that this could be the case as this crypto market space is changing rapidly and bitcoin could be the IBM of crypto.

lol..what proof are you might saying like that. bitcoin not even closed like IBM situation. nothing can compare on how bitcoin are growing like now. it has stand alone and has been abandoned by its owner but still managed to live until now.

[TheGodFather]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

I am working at IBM and I think that this is a very weird analogy. I don’t know if we are the previous king and then left in the dust but actually IBM has still been making waves and still a leading. And respected name that is known throughout the world. With bitcoin though, I think that the worrying is balid but I plead patience and more faith into it.

[t1Zona]

Bitcoin is decentralized and governed by the comunity (developers, users, miners, speculators,). It has the ability to evolve (even via hardforks) and has shown a great behaviour during 8 years, without being cracked, so we can say it's pretty safe.
Each day there are new coins, with more and better features, but they still have to show their potential and thay they are safe and backed up by a huge community. Nobody can predict the future but I think we'll have bitcoin for some decades.
And as other partnerts say IBM is still around here, working with top technologies like IA or quantic computers.

[Pasadoble]

whatever will enrich the human experience most is allowed on top, i think it's ok to move to things that do same thing faster or better

[paolo099]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

I am working at IBM and I think that this is a very weird analogy. I don’t know if we are the previous king and then left in the dust but actually IBM has still been making waves and still a leading. And respected name that is known throughout the world. With bitcoin though, I think that the worrying is balid but I plead patience and more faith into it.

I work in IBM too and this analogy is missing the key point: Mainframes!
IBM is the only vendor in the world to produce a product like that, and is not hidden to anyone, that is the chicken with golden eggs of IBM: monopoly on something certain kind of companies (like banks) must have for the bank accounts management.
Lenovo is only the hardware part (servers and clients) sold to a chinese company, the other services are well working and healthy.

[iL_P4driNo]

This how we progress. Every time a better product comes to eliminate the previous one even if it conquered the market for period.

[martin1221]

You are not the one who thinks in this mate, actually it will i think. For me bitcoin is like the internet Explorer in 1995 and look at now,  many has a competitors. I think that bitcoin will go down inthe future and other cryptocurrencies will gain and bloom its name to replace bitcoin. Investors are there to who what is new and good ti them. They not loyal as to one coin

[alyssa85]

IBM was bought out by a chinese firm and is now rebranded as "Lenovo". Anything with the Lenovo trademark on it is what used to be IBM.

Discussing what led to IBM's downfall would make for an interesting discussion. Unfortunately, I don't think anyone here knows what circumstances led to its demise.

IBM was killed by the personal computer and Microsoft's user friendly software for the PC. IBM didn't understand that households and businesses might want to own PCs.

In particular they didn't understand that people wanted user friendly operating systems. They thought computing would be controlled by expert users who would be able to type in commands in various computing languages.

Bill Gates insight was that people wanted to just click an icon and trigger the commands without needing to know the languages.

So OP's analogy is a good one. Bitcoin is still too complicated for users to understand and they struggle with the wallets etc. Whereas coins like Steem are intuitive in that you send and receive from names, just as in email, rather than from huge strings of numbers and letters.

[dado7]

That is a normal thing. You know how the top athletes like to say that that staying on the top is the real challenge. You have to watch your competitors and evolve.
Bitcoin is actually doing it quite well, the community is already working on adopting smart contracts for example. But, yes, if Bitcoin will be slower in evolving then its competitors it will be abandoned (Napster or WinMX anybody, Netscape?) and rightfully so. Abandoned but never forgotten I think. However, Bitcoin has a nice head start, I think that others still have a way to go in at least catching up.

[Nellayar]

am i the only who is worried that bitcoin might be like IBM we have seen it before one product controls a market then a competitor comes in and the previous king is left in the dust

this is life and economics, competition rules the market, if bitcoin will not be strong enough it will be defeated with competitors. This could happen with everything not only bitcoin.

so my concern is that bitcoin cant stand the pressure from competition and fold

Bitcoin can stand, that's why until now bitcoin is the king of all coins and number one in cryptocurrency. Competition is normal in market, there is always rise and fall in economy. Since bitcoin is part of it, we can't assure that everyday bitcoin is always good but somehow, we must trust the way bitcoin built.

[Aminmon]

I think the metaphor is not just a single, because the technology behind the bitcoin: blockchain has received recognition from all countries, so the bitcoin and blockchain is inseparable, i think the only valuable digital currency is the bitcoin.