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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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5177117 No.5177117 [Reply] [Original]

>bitcoin has value because it's better and more convenient as money

So what happen when a new and better coin comes around? It eventually goes to zero right? And the process repeat infinitely as tech gets better...

>> No.5177149

>>5177117
Cardano is already here bro

>> No.5177159

>>5177117
It is currently not better and less convenient then money, but this is ok because it's now crypto gold.

>> No.5177162

All of these coins can be updated and developed. We are currently in middle of coin war. Only few coins will eventually be left each one catering to certain niche.

>> No.5177182

>>5177159
Ever tried to send lots of fiat far away?

>> No.5177222

>>5177182
Yeah how do you think I got money onto exchanges in the first place? Costs less than 15 fucking bucks. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html
Get educated on modern day bitcoin and the scaling debate before wasting my time.

>> No.5177233

>>5177162
And it requires miners agreement right? So what if creating a new and better coin become easier than reaching consensus to update the code base? Or if the code base become an inefficient clutter of patch?

>> No.5177243
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5177243

>>5177117
Bancor currency happens

and BTC will always retain some value, due to previous ATHs people will forever be trying to ""buy the dip""

>> No.5177250

>>5177222
Your exchange is not very far. If you have actually ever done wire transfer, you know it takes ages. And if you try to send lots of money, be prepared for lots of paper work and calls.

>> No.5177301

>>5177250
this

>> No.5177304

>>5177117

> Better and more convenient
> Pay $25 to transfer $1

It has already failed at what it set out to do but it "found" its use case as store of value, aka people shilled it as such when it was obvious it wasn't going to be the world currency and miners wanted those juicy fees so no, it's not going to zero either.

Also, yes, better tech will come along for the currency case. I don't think there will be a sole winner as people will have different interests but there might be 3-5 easy to use interchangeable world currencies.

>> No.5177377
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5177377

>>5177117
Better technology does not replace established technology.

>> No.5177515

>>5177117
Yes, but first mover advantage is huge

>> No.5177616
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5177616

>using really specific analogies to describe the growth of btc and crypto in relation to traditional markets and previous innovations
>then in other threads disagreeing with analogies made using the same logic if they are anti-crypto or warn of historical crises repeating

>> No.5177631

>>5177515
Is it though? It's relatively easy to update the APIs and integrations, especially with exchanges, first mover mean months on the Internet not years...