The news is all ablaze about Bitcoin, and if you head over to coinmarketcap.com, you can see just how dominant bitcoin is over the rest of the coins. This is really just due to media hype. People have done this with Nike and Coca-cola. When people won't a soft drink, they may say "I want a coke" but really mean something else.
At this point, we have a marketing problem. Not saying that Bitcoin is bad, but Litecoin does it so much better, from the speed to the cost. Litecoin will be the one to go with. Ethereum is literally the one bringing all (many) of the new coins to market. They are the operating system that we need, and they should be much higher in the list. For whatever reason, Ethereum and the others are just not cutting it against Bitcoin, and here's why I think that's the case.
1 - Bitcoin was the first to market, and the one people constantly called "fake" or "that will never happen." So even though people that haven't even paid attention will know the name bitcoin instead of even the term "cryptocurrency." That's how ubiquitous that is.
2 - There is controversy / mystery upon its origins, so people are able to hype it up and make up their own narrative as to how it was created. This hype bubble keeps bitcoin going. Even though transaction times on bitcoin are longer, and they are more expensive, people don't care. They just want to know more. We should have learned this with the original iPhone being so high compared to other smartphones. People don't care about the price if they have the correct marketing / hype.
3 - The coin / token companies always use bitcoin as THE standard. I understand some of them want to pass up bitcoin, but from what I recall as a coach, I don't talk about the other team that we want to beat too much, I talk about the championship or the further goal of improvement. I think the pure mention of bitcoin by these companies / coins keeps bitcoin at the top.
What do you think? Do you agree? I'd like to hear your thoughts below. Like, comment, share!
Nice post ☺ followed and upvote you...hope so you will do same for me 😊
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