For more than a decade, Bitcoin is the king of the crypto industry is said to be more precise: BTC is the granddaddy of all crypto currencies, the first Coin, which has brought the whole of the Rest of it.
During the greater part of this decade, the Asset was out of competition. Since the Bull-Run of 2017 some, however, claim that they had created a “better Bitcoin” or a Blockchain that beats all others. I’m not going to name examples, but they are easy to find – just look on Twitter or Reddit to.
According to a prominent Investor, however, it is almost impossible that Bitcoin will be supplanted by another crypto-currency project. And the logic behind this Argument is quite specious.
Will Bitcoin always be the king of the crypto industry?
In the last few years, Bitcoin has its skeptics have been branded in many ways: Bitcoin is the Myspace of crypto is currencies and to discredit a “Blockchain of the first Generation”, so two of the Experiments, the Innovation of the system.
On Twitter, one Person commented that they found it hard to stand behind Bitcoin as an investment and technology, because BTC is the “Netscape Navigator, the crypto-technology” or technology that was the “first is great, but ultimately displaced will be”.
PlanB – a pseudonymous, but well-respected institutional Bitcoin Investor has refuted this remark quickly. He writes:
“If you see Bitcoin as a Protocol (such as tcp/ip, pop/imap, http, etc.) and not as a product or company, it is clear that ‘the next Bitcoin’ is highly unlikely, if not impossible. Network effects are important: you need developers, miners, exchanges, investors/liquidity, etc.“
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With the introduction of the Liquid Network, Lightning Network and other solutions, the Innova try to develop all the applications and functions of any “Bitcoin competitor”. Bitcoin is regarded as the Basis of a digital economy: the backbone of the future system.
In addition, it is, of course, that Bitcoin has the largest network of crypto, with the most active Community and constantly growing use. Its adoption would require a lot of work.
The price development on the crypto market will follow
Dan Morehead, and Joey pitcher from the blockchain-focused Fund, Pantera Capital, are to join the. You write that even in the short term, there is a high probability that Bitcoin amid the ongoing Coronavirus crisis, the majority of the Altcoins exceeds.
In “crypto in this time of crisis: Pantera Blockchain Letter, March 2020,” explains the Investor that BTC “is likely to outdo, for a time, other brands”. He writes that it is one of the crypto projects that have entrenched themselves seriously and not inconsistent external financing need:
“It is a project that is already built, it works, it has a 11-year-old success story. Many of the newer Blockchain and Smart Contract projects are still in development and might be in need of financing, to their complete development.“
You also explain that there are “typically increase in quality,” or an increase in safety, “where is the people’s money in the Mega-Caps, the want to put first Well, the ‘treasure chambers’ of the industry,”. In the case of crypto-assets, Bitcoin is a government bond, since it is much more liquid than the Rest.
In the same Letter, Pantera refers to the emerging monetary and fiscal Trends and predicts that BTC could be overcome within the next 12 months will be all-time high of $ 20,000.