This is an immutable, self-evident, mathematical truth. Two technologies fulfilling the same purpose usually do not coexist for very long, in historical terms. The old way dies, naturally, as the new grows to take it's place.
Bitcoin is on the right side of the chart. The surviving side. Fiat money is not. That's the big picture, folks.
if this were true then we would all need to escape Bitcoin and fall over to Litecoin as Litecoin is the newer of crypto compared to Bitcoin?Oh but wait we still have newer and more emerging coins with different POW styles X11 X13 what about those, are they not the newer technology in the group? if the old way dies and the new grows to take its place by your theory, what about all the new different POW coins coming out,
The survival of any currency is not its technology, it is not its transaction speeds, it is a few other things, security, user friendliness and most important DEMAND. Bitcoin has absolutely no way to replace Fiat (at this stage) , if it did the banks would be settling ways to end it now. the banks see us as nothing more than a mosquito flying around that can be easily crushed, but much like Mosquitos we do not slap them until we notice them, we usually notice them when they bite us. As of now with no true demand Bitcoin is only flying around the banks, it has not set down and taken a bite out and the banks know that.
Some companies, that are making money out of selling miners and mining with them could also affect price big time if they need cash.
Situations like this are EXACTLY why the banks are not scared of Bitcoin, its own community does not support its future, even the manufactures of the equipment used in securing its transactions dont trust it enough to hold on to it, they dump ity as fast as they get it. there is no real innovation in the coins future, just innovation in its transaction process, which by the way is open source and can be used by any company as a financial transaction process like for example APPLE huh?
