I have thought about this a lot, especially more recently as I question why I'm using Bitcoin. Since cryptocurrency began, there have been so many new and improved versions of the "Bitcoin blockchain", one of the most notable probably being Ethereum.
It's always painful to use Bitcoin in comparison with sometimes up to $5 transaction fees for sending even $10, not to mention the amount of time transactions take. It kind of feels like Bitcoin is a sinking ship in some ways, because of the increasing problems that occur with a blockchain system. However, this doesn't seem to faze many, as the price keeps rising again and hitting new records.
My ultimate question is: "Is Bitcoin so valuable just because it was first?" As technology progresses it's inevitable that new and better ways of doing things will be discovered. But is it really about just being first in today's world? What are your guy's thoughts on this? Do you think there will be a breaking point aka, amount of inconveniences people will put up with before moving on?
That was at least one of the reason why Bitcoin is so valuable. Bitcoin is so versatile and people are looking for ways to earn it. All of the Alternate Coins are going back to Bitcoin because of the Market volume of Bitcoin is too high and that also one of the reason Bitcoins value is too high. Bitcoin is only one of the Crypto that can be turned into cash and most of Alternate Coins does not even have this feature.