/biz/ - Business & Finance

>>10399801
Hello. Did you get Bitcoin for Xmas? ;D

>>10399801
institutional normies

In the sameway TCP/IP won. What matters is bitcoin, not the protocol.

>>10400043
got a minute to elaborate? alternatives and why it lost etc

>>10400352
Nigger you have google.
Why the fuck would he explain the history of internet and layer protocols to you? In a single post?

>>10399801
>dead cat bounce on dominance, losing it continually for 2 years
>bitcoin wins guys
it wont even reach 50%

>>10400447
>more than 1500 shitcoins available
>marketcap of the top 20 shitcoins combined doesn't even reach marketcap of BTC alone
not winning

>>10400352
Often superior technologies lose out to established "brands".

first mover

>>10399801
Anyone who says that alts are more advanced is deep deep deep inside the dunning krugger effect
They think they know a lot because they learned a little bit, but they know shit.

>>10399801
brand awarenes

>>10399801
>scams
>advanced

>>10399801
>newfags don't know that in bull runs bitcoin kills alts then goes sideways and lets them moon

>>10401039
This.
Learn the fucking pattern, the same thing keeps happening every god damn time.

>>10399801
Bitcoin is never getting the market dominance it once had back sorry OP

>alts
>more advanced

pffffffffffffffffffAHAHAHAHHAHA

>>10401133
but that's because of bagholders, kek

imagine cryptocurrency as a tree
the trunk is bitcoin
the branches are altcoins

as the tree grows branches may become part of the trunk or wither and die

>>10399801
It just means therer are countless boomers buying that "store of value coins" lmao waiting to find out about usefull cryptos

BTC won because you guys are not understanding the source of its value. The protocol is not advanced because it isn't trying to be. Bitcoin's immense value comes from being the default "store of value" in the entire crypto space. If I have $1 million, I won't put it into Bitcoin Gold because I'm not confident that it will be worth even a small fraction of that in 5 or 10 years time. Bitcoin has reached sufficient institutional and cultural recognition such that most people in crypto with serious money ARE confident that in 5-10 years time Bitcoin will be worth AT LEAST what it's worth right now. This confidence begets confidence; once a consensus is reached by the global crypto market that Bitcoin is king, then Bitcoin is king.

This is also why BCH was doomed to fail as soon as that very first flip attempt. It was the greatest challenge to Bitcoin's dominance ever, and it failed. Since that point, BTC has received even more waves of institutional and cultural recognition.

Now this doesn't mean that alternates can't exist, it just means that they have no chance in hell to ever reach BTC. LTC and BCH for sure will have incredibly high values for a long time, but neither of them will ever flip BTC. Their only hope is to fill a niche in the market, but since they're on their own chain and only useful on centralized exchanges, it's not likely.

0xBitcoin is perhaps the only competitor right now that has any sort of claim to long term successful store of value along with Bitcoin; since it is programmable on Ethereum (the largest and most used smart contract platform by far) it actually can achieve that collective confidence in it among investors familiar with the Ethereum ecosystem. But no matter how much people point to its "superior" tech, like I said the tech does not matter one bit since value for currency tokens/coins is derived from confidence that it will keep its value.

>>10399801
It's the only secure crypto. When you're talking about money everything else is insignificant compared to security.

>>10401182
Btree when?

>>10400992
This EXACTLY. And they are monetarily incentivized to shill. Plus, they regret not catching the Bitcoin wave, or they even poo-pooed BTC in the early days.

The idea that alts "are more advanced" is such absolute hogwash.

>>10401170
Deluded

>>10401257
>>10401220
>>10400992
ok but bitcoin is still the slowest coin to send and is just absolutely shit overall. there are legitimately superior coins out there. i give bitcoin 5 years tops to keep its position

>>10399801
>how did bitcoin end up winning?
>i thought alts were more advanced?
Markets aren't rational, especially when they're in a highly speculative pre-adoption stake.

Also, read about network effect.

>>10401358
All of them will eventually meet the same fate, or else they have made alterations that are flawed somewhere else. "Cheap and fast" on a decentralized blockchain is a temporary state of affairs.

Read: https://medium.com/@rusty_lightning/the-three-economic-eras-of-bitcoin-d43bf0cf058a

>>10399801

btc = the most manipulated shitcoin

>>10401358
Again, your metric of transaction speed (or other metrics of programmability, privacy, etc) are absolutely irrelevant in the case of Bitcoin. It's a store of value BECAUSE people decided its a store of value (because they saw others treating as such, so on and so forth). Fees could increase 100x and Bitcoin would still be the store of value. It works and is INCREDIBLY, ASTOUNDINGLY cheap for large sum transactions. You could send 50 million dollars entirely securely for less than a dollar. It is confirmed INCREDIBLY, ASTOUNDINGLY fast, within around 15 minutes. Nobody needs to transfer a million dollars in less than 15 minutes, and nobody who's doing that can claim a dollar is expensive for the transfer (nor can they claim $100 is too outrageous either).

>>10401428
You mean BCH

>>10401220
Its frustrating how people don't understand this. Yes, things have value when they solve a problem. But a bigger problem than transaction times or fees is the problem of financial security. All the nonsense about Bitcoin's obsolete tech goes right out the window since Bitcoin is the most prominent, most liquid, and most accessible crypto.

>>10401039
>>10401122
I got in in early 2017. What's the complete cycle? Bitcoin bull + alts die on ratio -> alts get slingshotted upward after a brief delay -> Bitcoin dies, alts die on ratio -> rinse, repeat?

>>10401399
>>10401535
>>10402397
Quality posts. But shitcoiners will never understand this. They are just salty that they missed out on early bitcoin and delude themselves into thinking that there will be another bitcoin.

>>10399801
don't mistake this pump and dump for winning

>>10402586
essentially.
meaning...
>buy link

Here you go senpai, the savior of bitcoin...

>>10399801
Because lightning network is a game changer

>>10403076
it's a dead end
even Andreas Antonopolodiausae admits that routing doesn't work
https://youtu.be/4KiWkwo48k0?t=365

>>10403613
if that's your take on that video then you have shown me that people can be dumber than I thought.

>>10402397
>All the nonsense about Bitcoin's obsolete tech goes right out the window since Bitcoin is the most prominent, most liquid, and most accessible crypto
true

>>10399801
it's american either / or logics
>IF crypto THEN btc

>>10403840
he says that routing is not a solved problem (meaning today's solution doesn't really work) and that it was intentionally omitted from the lightning whitepaper (meaning the guys that thought up lightning has no clue on how to make it work)

if that's not your take on the video it...well, let's not stoop to your level now :)

>>10401220
>0xbitcoin is perhaps the only competitor right now
ahhhhhhhhhhhahahahahaha
sad shill is sad

>>10399801
Moore's law

the bitcoin atm at The D in vegas has bitcoin priced at 8900 about an hour or so ago

I use bitcoin to actually buy shit and I will purposefully buy it, then buy items and I see no issues what so ever. A lot of the other coins are complete gimmicky scams like XRP, If I wanted a bank to control my money I'd go to a fucking bank, and It has an infinite supply. Ether has great potential and functionality even right now, but it has a face behind it and has more risky ideas that I have researched being thrown around such as casper/pos.

Just the network effect. Bitcoin will lose market dominance as users become aware of its failings

>>10401399
I couldn't take your text seriously against that gif

Sure is summer.

Anyway, because:

1) Anything but PoW is a scam
2) PoW requires electricity
3) Given 2) and given pareto law distributions of economies-of-scale, 80% of resources will always be put in the safest blockchain, which is, and will increasingly continue to be, the Bitcoin blockchain, unless someone has a time machine and releases something else before Bitcoin

The only reason anyone ever shilled an altcoin is due being a retard or being a scammer in order to get BTC off noob's hands.

>>10401220
>0xBitcoin is perhaps the only competitor right now

>>10405913
You are completely correct. There will never be two dominant PoW chains with similar hashpower. It's incredible how economically illiterate altcoiners are.

>>10401257
i bought bitcoin at $200 and held to $4000
i don't hold any anymore and have no plans to buyback.
I was buying BTC at $6200, but only to buy my alts of choice. so I caught a good chunk of the wave.

as a "store of value/perpetual ponzi" bitcoin will perform pretty well, but as a currency it can go no where.

tl;dr: you're wrong