Great article! Do you think other spin-offs like Bitcoin Cash may be something to worry that could threaten the dominance of Bitcoin?
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Great article! Do you think other spin-offs like Bitcoin Cash may be something to worry that could threaten the dominance of Bitcoin?
There are probably other coins that are as good, or almost as good (or even better? I'm no expert in the technical details) as Bitcoin. But Bitcoin is legendary - meaning it is the first, it is the most known, and it is by far the most used. It has also gotten proven to work a lot like gold (protection against inflation) And currency is pretty simple. If people decide Bitcoin is worthy, then it is worthy. The only question is how the regulators, states and banks will fight it.
Bitcoin is actually the Mother currency to all crypto's. It was first which came into existence that's why it got so popular within few years. $4400 for a single Bitcoin? Can you believe it? This price is just insane for an Internet currency. People still purchase Bitcoin as the store of Value, as long its value rises people keep purchasing it. That's how it conquered the whole market and will definitely continue to do so.
And the market is still so incredibly small! The entire crypto market is still what? The same mcap as Netflix?
Yes, for now. Who knows what future holds for tomorrow. For something which don't even exist yet, this market cap is more than enough :)