imo bitcoin is gonna be replace by other coins
Buy 1000 dollars worth of non expensive goods and resell them. Wish I had the money to get back into it.
It won't be. There's nothing needed to replace it. It does what it needs to do perfectly.
There's far too many guys with a LOT of money who are putting part of their wealth into bitcoin.
No one is going to just gamble that and move to some new coin with the promise of returns. The ones with actual money are mostly looking at bitcoin as a good place to store wealth that's inflation proof. Not to make money on it. There's better ways to make money.
Bitcoin has become a widely accepted store of value. It is digital gold.
Other coins will do other things, and other coins will be used for buying/selling small day to day things. Those will not replace bitcoin.
What most people don't understand is that a currency SHOULD have inflation. A currency without inflation isn't as useful.
But a currency isn't a store of value. It's something to trade with.
Bitcoin actually does inflate, but its inflation rate is pre-programmed in and logarithmic.
Nothing is going to replace bitcoin now. Why would it? What are the advantages? If 100 new coins come out, how do we decide which is better? Why even try?
I won't. I'll just buy bitcoin.
And if I won't, then it's safe to assume others like me won't.
There's no point. Bitcoin does the job, and most agree that it does the job fine, so they buy it. We aren't looking for an alternative.
This is what people fail to see.
Bitcoin only goes to zero if crypto goes to zero.
If crypto succeeds, then bitcoin succeeds.
People are REALLY SLOW TO CHANGE. It's taken a decade to get momentum with bitcoin and institutional investors are only now starting to take it seriously. Do you really think some other fancy coin will come along and replace it?
Very few people understand bitcoin, including institutional investors. If a "better" coin comes along, you are assuming everyone will understand it.
People invest in it, because other people invest in it and because other people HAVE BEEN investing in it for years.
That, combined with the fact it has limited supply, it's easy to move around, it's secure and it's decentralized. Job done. Game over.
The title is taken. There are many other titles still up for grabs with other coins. But the digital gold is taken.