[Nursie]

> Sure, first mover advantage counts for something, but come on - how has superior tech not yet left it in the rearview.

To me it demonstrates perfectly that this market is largely speculation based on brand recognition and number-go-up-tech rather than any use of the currency. If it was based on use and capabilities then yes, we would expect BTC to be superseded by its more capable cousins.

But it's not.

[adventured]

I largely agree. It's specifically because Bitcoin is perceived to be a place to hide capital from inflation - and the world is comically flooded with capital right now, chasing anything and everything - while all the central banks are busy vaporizing their garbage fiat. Bitcoin is not a currency. It's bizarre that people keep calling it that, years after it became obvious that it's not. If it were a currency, Bitcoin would collapse rapidly toward zero, because it's wildly impractical as a currency.

The Forbes list of world billionaires features 2755 names. They gained $5 trillion in wealth over the past year. Bitcoin is a trivial toy next to the wealth in the world today. A fun little token play thing, a place to hedge a couple of bucks, it goes in the basket.

[Nursie]

Which seems to me exactly like the sort of thing that will work out great, until it doesn't.

Best of luck.