Re: The Possibility Of An Altcoin To Overcome Bitcoin Is Very Rare.

Quote from: AsiaHODL on Today at 01:55:52 PM

Quote from: legiteum on Today at 01:24:46 PM

Again, are you sure this is going to be true forever and ever? All everybody is saying here is akin to saying, "Internet Explorer is the most popular web browser and everybody knows about it, and it's everybody's first browers, bla bla bla".

Yes, Bitcoin is the most popular digital currency right now. But it has major technical limitations in performance and cost that leave it wide open to competitors for the long term.

Long term, the lower cost option always wins out. It might take a while, but that's what happens.

If you want to invest in something for the next three months, then sure, invest in Bitcoin. But the only "1000x" opportunities out there will be from digital currencies that change the paradigm to something that will truly scale to handle the entire world's daily transactions, and do so far cheaper than any other existing means.

This is entirely wrong - longer term the best asset, with the best qualities will win in terms of global store of value. Its for this reason gold dominated over an infinite number of other physical items. Same with BTC over alts. Every single alt has given up even trying to be an "alt" to BTC's core function. Eth tried hard, but has now failed as many predicted would be the case, and this failure is of course reflected in its 3 years of decline relative to BTC. Its the cost (or "effort") required to produce BTC which gives it its value. If something can be be generated at the click of a button, its lack of value should be obvious.

Alts, memes, shitcoins, NFTS etc are infinite. BTC is the total opposite.

Gold is probably less than .1% of the world's total wealth store today, even though it used to be almost all of it. You are making my point for me.

And yes, ETH and others have tried and failed--because they share the same basic (failed) architecture as Bitcoin and will thus never scale to mainstream transaction loads. The blockchain architecture was never meant to be a mainstream solution.

Nobody is saying Bitcoin is going to "disappear" in the same way that today, IBM still sells several billion dollars in mainframe computers each year. But in the long run, Bitcoin's market share will diminish because it doesn't scale--and now (finally)--there are other products that do.