Post
Topic
Board Bitcoin Discussion
Re: What do you mean when you say Bitcoin is number 1
by
s100
on 05/05/2018, 18:03:54 UTC
Bitcoin has a significant advantage being the pioneer in the space and capturing first mover advantage. It is also far ahead in recognition to many other digital currencies in all the areas you highlighted. I think it will evolve over time to maintain its position because many people are involved in the community and this is really above everything else what powers it - the number and dedication of the people involved. and in terms of store of value, security, and privacy, Bitcoin do have a good track record, resilient/robust system. Bitcoin as a tool for freedom from globalist control, this is happening at a very small scale. We have seen people belonging to repressed hyperinflated economies turning to Bitcoin. IMO Bitcoin is being treated as a speculative asset by those who don't see Bitcoin's potential value as an alternative to the fiat system. Convenient medium of exchange, this is where Bitcoin is lacking now. If Bitcoin needs to go mainstream then it would need to have more user-friendly applications. Bitcoin can be a store of value/safe haven asset in times of financial crisis, but is Bitcoin going mainstream dependent on such events? No. Bitcoin being a decentralized, permissionless, censorship resistance global system has something to offer to everybody. Speculators who are in for the quick buck see Bitcoin only as a tool to boost their earnings so apart from the money factor there needs to be something for them to use Bitcoin, something that the existing technologies/products aren't offering.