What I want to know is what makes it so that Bitcoin can't be beat or duplicated. If there is nothing like it, what is stopping something else from being created that can be just as good or better? If its not about the tech but its use as an alternative storage of value against USD, what if something else like another already established coin or a new one comes in and overtakes BTC? What if a new crypto comes out that improves on BTC and then what?[/B] Using Tesla for example since they had the announcement today. Ford was founded in 1903. In around 1999, its stock was nearly $100, today its not even at $12 and not even top 10 car manufacturer by market cap. Tesla was founded 100 years later in 2003 and today its stock is $860. I'm sure nobody expected things to change, especially Henry Ford when he started his company, and 100 years is quite a long time, but nobody knows what the future brings. May or may not take 100 years for a new and improved BTC competitor to come out but nobody ever knows. If Ford dropped from nearly 100 to 11.50 in 20 years, and Tesla shot up ridiculously this year, shows that nothing is guaranteed and innovation can change everything. Investing is a risk and anything can happen no matter how great the investment seems to be.
No alt is touching BTC because of the network effect and its secure status. There are dozens of forks like Bitcoin Cash, Bitcoin SV, Bitcoin Gold, diamond, etc. All of them claim to be faster, stronger, higher scale, blah blah blah. None of them will ever have the same community, ecosystem, usage, or network effects as the original. When I say ecosystem think about all the players: the miners, programmers, service providers, the investment funds, laws that have been re-written just for bitcoin. The merchants, the exchanges, all of the wallets hardware and software that support it. Coinbase the biggest exchange in the world started because of bitcoin. So for any coin to "overtake" BTC it has to surpass all of that. Not just be a little bit faster or shinier. You would have to convince million plus people in the world that your coin is more secure while BTC has proven it over the past 12 years since its existence and not a single hack.
It's also the most liquid and has the largest volume in the entire market. The market goes as bitcoin goes. It's solidified itself as a pristine scarce completely decentralized digital asset, to the point of the biggest asset management firms in the world calling it "digital gold".
Don't let your disappointment that you didn't get in earlier enough cloud your judgement as far as what BTC represents. There have been thousands of "new crypto that came out" that many claim to improve on BTC. None will ever be BTC
Haha yea I learned my lesson with ALGO and OXT, had bags of those but got impatient and sold not realizing how close we were to this Bull Run.
shyt crazy breh. I probably spent that shyt on food too like a dikkhead.
