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There are so many better coins out there than bitcoin, some even provide better privacy and faster speeds but bitcoin was the first so it keeps limping on under

There are so many better coins out there than bitcoin, some even provide better privacy and faster speeds but bitcoin was the first so it keeps limping on under its first mover advantage. Using over it other coins is like everyone choosing to use the Ford model A over a car made today. Its just silly.

throwaway6977 3y ago
It's actually more like choosing a reliable brand that's been around for years vs. buying a Tesla.
jongjong 3y ago
Kind of like everything else. First mover advantage is everything. I think also, the powers that be have a vested interest in promoting inefficient cryptocurrencies in order to prevent efficient ones from gaining a foothold. Bitcoin does a great job at centralizing attention towards itself. Bitcoin maximalism isn't so much about helping Bitcoin as it is about depriving others of opportunities and staining the reputation of cryptocurrencies.
tracedddd 3y ago
Unfortunately, that doesn’t tell the full story. Features and optimizations often come with costs such as security and complexity. Not to mention many cryptocurrency projects have an embedded self-enrichment scheme for the founders and centralized decision making, making them a theoretical target for governments. Sometimes a simple, well tested solution is better than a complex one with better performance and features. After all, money should be simple and carry low technical risk. That said, I personally think features found in some other projects are worth the costs. But I can definitely see why someone would still choose btc. Especially for a government initiative or treasury.
- tromp 3y ago
  > Sometimes a simple, well tested solution Bitcoin is not that simple. The scripting language alone is a big source of complexity, and the emission could be made both simpler and fairer, leaving no advantage for the founders or early miners. Finally, some privacy improvements can be had with no cost (even a notable improvement) in scalability.
thrawa8387336 3y ago
Guys just because central banks hold gold does not mean you use it in everyday transactions.

throwaway6977 3y ago

It's actually more like choosing a reliable brand that's been around for years vs. buying a Tesla.

jongjong 3y ago

Kind of like everything else. First mover advantage is everything. I think also, the powers that be have a vested interest in promoting inefficient cryptocurrencies in order to prevent efficient ones from gaining a foothold. Bitcoin does a great job at centralizing attention towards itself. Bitcoin maximalism isn't so much about helping Bitcoin as it is about depriving others of opportunities and staining the reputation of cryptocurrencies.

tracedddd 3y ago

Unfortunately, that doesn’t tell the full story. Features and optimizations often come with costs such as security and complexity. Not to mention many cryptocurrency projects have an embedded self-enrichment scheme for the founders and centralized decision making, making them a theoretical target for governments. Sometimes a simple, well tested solution is better than a complex one with better performance and features. After all, money should be simple and carry low technical risk. That said, I personally think features found in some other projects are worth the costs. But I can definitely see why someone would still choose btc. Especially for a government initiative or treasury.

tromp 3y ago
> Sometimes a simple, well tested solution Bitcoin is not that simple. The scripting language alone is a big source of complexity, and the emission could be made both simpler and fairer, leaving no advantage for the founders or early miners. Finally, some privacy improvements can be had with no cost (even a notable improvement) in scalability.

thrawa8387336 3y ago

Guys just because central banks hold gold does not mean you use it in everyday transactions.