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On the technical merits, I think Bitcoin is actually rather behind other blockchains. But, remember that money is a Schelling point. There's a huge first mover
by dcolkitt 6y ago
On the technical merits, I think Bitcoin is actually rather behind other blockchains. But, remember that money is a Schelling point. There's a huge first mover advantage.
Money, in any form, is only valuable because we expect others to continue to value it into the future. The reason that gold is used as a monetary asset, whereas rhodium is not despite being as rare, is because gold arrived earlier in history.
One could also that the Bitcoin community's conservative nature also lends it credence as a long term store of value. Ethereum as a protocol much more amenable to technical innovation. But if you're in the "stay rich" business, instead of the "get rich" business, than that can be a bug not a feature.