3 ms·

First Mover Advantage.

• acdha 9y ago
  This is why we all use AltaVista and Friendster from our PalmOS phones. That line of reasoning is especially risky in finance: right now, very few people are invested in Bitcoin. If it became popular, all of the early users would become very rich. The major players all know this and I find it extremely unlikely that they wouldn't make a serious play to avoid that line of money going to someone else. Say a few major banks, Apple/Google/Square/Venmo, etc. setup a competitor: on day one it'd be accepted by orders of magnitude more vendors and they'd presumably have paid attention to the endemic security, reliability, and performance concerns. How many people have enough of a stake in Bitcoin that they wouldn't jump ship – hundreds, maybe thousands?