Very well stated.
BTC enjoyed a first mover advantage that it squandered, and the frantic sentiment of if BTC fails it will bring all the cryptosphere with it because of the publicity such an event will have and the numerous people who will jump at the chance to say "we told you it was nothing but tulip fever" won't make any difference, it will only be a vague sentiment of familiarity over Bitcoin, the liquidity behind it won't ever go back to fiat IMO and that demand won't be affected at all by one project failing.
Yeah, I don’t want to hear anymore about “muh tulips” from crypto skeptics... And it’s not like BTC will fail overnight. Heck, the coin itself may never stop being entirely used. People will just slowly move their capital to another coin causing the value to drop over a period of time. That capital will get transferred to other cryptocurrencies, thereby boosting the value of other coins. The slow demise of BTC could help bolster other coins along the way, such as a POS Ethereum, EOS, Steem, and other coins we can only imagine right now.
Posted using Partiko iOS