Bitcoin & alts in the Cryptocurrency Market
bitcoin·@filipdascalu·
0.000 HBDBitcoin & alts in the Cryptocurrency Market
<html> <p>So one thing I see is that there's 2 sides to the crypto market: </p> <p><br> Bitcoin and everything else.<br> When bitcoin goes down, alternatives go up, and vis versa. People re-balance within the market that way<br> bitcoin is down 6% and everything else is up 10%, whereas 1-2 days ago, it was the opposite (but less %).<br> <br> It looks to me like a lot of people believe Bitcoin will overcome all others as a currency given its first mover advantage and that is why there is this dichotomy. They say things like ''all altcoins are going to zero'' but somehow bitcoin is different?<br> <br> I think the cryptocurrency with the best technology will rise up before any becomes a successful currency. <br> <br> Furthermore, it will be the one that is first used for information storage/auditing/computing/smart contract execution that will first succeed as a currency, if any. <br> <br> Bitcoin has demonstrated it is slow at capturing new technology. So slow in fact that there are simultaneous forks coexisting (which cannibalize bitcoin's value through inflation). <br> The newer alts are better at leading the way in technology.<br> <br> I think superior technology will beat the first mover advantage, especially in the cost of executing commerce applications. Inflated processing tokens (ex:ETH) will suffer from higher costs than other currencies in their value proposition to businesses. Thus lower cap, more efficient coins will develop REAL non-monetary actual use demand in serving business functions that are logically best served by block-chain solutions. And it is this foundation that will lead it to becoming a currency.</p> </html>