Hey folks! I just wonder, what is with Bitcoin that until now it is still in it's peak and still unbeatable. Has not any one ever invented a new/other currency that matches the value of bitcoin? And if there would be What should it take for a new currency for instance to match the value level of bitcoin? Has anyone here ever thought that a new currency more superior than bitcoin could come out one day and bitcoin value would decrease or fall?
There is an easy explanation why Bitcoin is still at the top
Obviously, Bitcoin is at the top not because of its technical superiority since there is none. Even Litecoin which for so many years had been no more than a Bitcoin copycat is now superior to Bitcoin on purely technical ground. Bitcoin is just good enough to enjoy being the first mover for so long. But it doesn't of course mean that it is set to remain the top currency for good. Its popularity and success basically comes down to two simple things. First, it shows more profitability over long terms in comparison with all other cryptocoins out there. And, second, even when it goes down, it doesn't go down as much as other coins. In a nutshell, if some coin is able to show higher profitability over longer terms, it will eventually replace Bitcoin