Quote from: yo_mama on August 05, 2019, 12:31:35 AM

About 3 years ago amid the rising number of altcoins and ICOs, some bitcoin maximalists wrote reasons of why those altcoins would ultimately fail, and bitcoin would eventually dominate. Some of these articles can be found on Nakamoto institute website. Very interesting read.

The prediction sounds ridiculous to some people, but now it seems to come true. Bitcoin rising in value, and altcoins slowly bleeding to non-existence.

One thing many people don't realise is: market cap / money flow / coin price aren't necessarily linked to superior technology. Money is a collected hallucination. You can have outdated technology which people want to put the money in, or superior technology which no one cares.

But that is the issue, bitcoin is not only a new technology it is also a form of money, the US dollar has been dominant for almost a century despite its huge flaws and the fact that it became fiat during the 70's, most developers do not understand that no one cares if they can develop a network that is slightly faster than bitcoin, the first mover advantage that bitcoin enjoys will be impossible to overcome unless a fatal flaw is found in the code of bitcoin, something unlikely since the best developers of the world are working on bitcoin and not with the competing alts.