Cryptocurrency is obviously supposed to be high technology, or at least that’s what I’ve always thought, but now looking at Bitcoin I think that do to it’s design, it is not meant to stay at the top in terms of how advanced of a technology it is. But I don’t believe it should stay that way.
Why is it that I keep hearing that the Bitcoin community won’t update/change the blockchain. Yeah they’ve done some work on it, they have smart contracts, but who uses them? Anyone? Yes I know the reason’s for not updating. Main one is that they don’t want to do anything that will change how trustworthy Bitcoin is, by deleting its long history of security. But I don’t think any of these reasons are very good when your probably going to get ended for it, there really can’t be a good enough reason not to upgrade do to the likelihood that other blockchains with their superior tech will crush Bitcoin. I mean another reason might be that they are convinced that it will always be the best due to it moving first or that there isn’t a need for anything faster or with high tech smart contracts. Hard to believe that people actually say this. Or they might say Bitcoin is rare and valuable like gold, but that’s not true, gold has value because it is rare, it can’t be duplicated, or not easily, but Bitcoin at its core is just a code that can be copied and improved on.
Technology is always advancing, being made better, maybe Bitcoin is just was meant to get things started, and not stay at the top in terms of how advanced it is. Otherwise it’s just a collectors coin, which sound ms weird. But not advancing is, based on history of technology, a death sentence for bitcoin.
It is unlikely that Bitcoin will remain at the top forever, some other coin will take its place.
People will use the coins that are required to do what they want on web 3, staking, paying fees, buying nft’s sending money quickly to anyone. The more users the more secure they will make it, the more secure it is, the better technology it is the more valuable it will be. Each of these coins will become a store of value as well, no more need for Bitcoin, why buy Bitcoin, and the coin you use all the time, when you can just hold the coin you use all the time in your wallet. These coin will surpass Bitcoin as a store of value.
People will have that coin’s logo/branding seared into their head and will develop trust for that coin. Will learn more about it since they use it all the time, will grow to love the coin.
I use Etc, Solona, and the hated BSC blockchains, and of course there are many more great blockchains but I don’t really study them. I’m into small cap coins right now, (maybe buy something big when I make a little more $) so I’m not going to try to predict the coins that will be at the top, but I will predict that Bitcoin, unless they change something, will be like all those great companies, blockbuster, (they really could have switched to kiosks, and then to streaming but alas, they where comfy making bank) blackberry, (they could have made a phone that was easy to use, but maybe they lacked insight) and I can’t believe that all those auto makers just sat there and let Tesla steal the lions share of the electric vehicle market, so Ford might be next, at least a few are in danger of going down now. (Bitcoin isn’t a company, but it does have users and branding, trust, so the comparison is valid) one of these above coins could take the place of Bitcoin at the top (although I don’t think it’s bsc, but that’s another topic)
The only thing I use Bitcoin for is to turn my fiat into crypto, because i use cash app, but if cash app started selling Sol or Eth I’d never touch Bitcoin.
Unfortunately Bitcoin is what is is, and will probably not change enough fast enough, not until it’s too late. If I posted this on the Bitcoin sub, it’d be removed in seconds, I know this. Why? Unfortunately people get comfortable with the way things are, it’s in our nature, and if you’ve already made your money as a prominent member of the Bitcoin community, you aren’t probably going to want to change anything since things have been going so swimmingly the last decade. O well, so they probably won’t change, if history is any indicator, and it really is, Bitcoin will not remain at the top. There are very few new technologies that stay there, they are almost always undone by another one that built on what it was.
So I’m not writing this trying to get Bitcoin to change, but so people might look more objectively at Bitcoin, instead of just buying it because they are emotionally attached to it. I love Bitcoin, it has started the best technology the world has ever seen, and can and I believe will give the people of the world their financial freedom.