Is Bitcoin the MySpace Of Crypto?

patrickrooney said:
Is Bitcoin the MySpace Of Crypto?

First to market has its drawbacks...

I’m old enough to remember the Betamax vs. VHS battle for home video dominance. Betamax was in many ways superior but failed to win the market due to early design flaws that held it back...

Then there’s MySpace. I have no idea what they did wrong. It’s still kicking but I haven’t a clue what’s going on there...

Now here’s the kicker. There’s a growing sentiment that Bitcoin may be the next Betamax or MySpace. First to market (yay!) but overcome by its challengers as it is constrained by its early ideals and technology. The crypto space is flooded with coins and protocols that have arguably superior utility. Yes, utility. You’re welcome to convince me of the use case, the utility, of bitcoin. It’s quite easy to list other coins that have clear utility and value. I’ve yet to hear a clear path of usefulness associated with BTC.

https://lnkd.in/e-35wi5
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I've thought exactly the same thing. MySpace died for exactly the reasons you listed, it was built on a software framework that couldn't scale as fast as it's user base and the later movers could scale so when MySpace's limitations limitations where revealed they were quickly leapfrogged as everyone move off en mass. Lots of parallels with Bitcoin, the energy use required to validate every transaction is it's fundamental scaling weakness that will ensure it can never take over a substantial portion of world financial transactions, regardless of it's market cap.
 
I believe bitcoin gains will be lesser and lesser. Not saying it will crash to zero but it won't grow as fast. Certain altcoins will replicate bitcoins growth and maybe even overtake it eventually.
 
https://twitter.com/x/status/1399333084005384193

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patrickrooney said:
Is Bitcoin the MySpace Of Crypto?

First to market has its drawbacks...

I’m old enough to remember the Betamax vs. VHS battle for home video dominance. Betamax was in many ways superior but failed to win the market due to early design flaws that held it back...

Then there’s MySpace. I have no idea what they did wrong. It’s still kicking but I haven’t a clue what’s going on there...

Now here’s the kicker. There’s a growing sentiment that Bitcoin may be the next Betamax or MySpace. First to market (yay!) but overcome by its challengers as it is constrained by its early ideals and technology. The crypto space is flooded with coins and protocols that have arguably superior utility. Yes, utility. You’re welcome to convince me of the use case, the utility, of bitcoin. It’s quite easy to list other coins that have clear utility and value. I’ve yet to hear a clear path of usefulness associated with BTC.

https://lnkd.in/e-35wi5
More...

Scarce blockspace of the largest layer1 network offering immutable, censorship-resistant settlement finality of a distributed ledger. It’s not just the tech, it’s the community that arose around base principles where BTC derives it’s power.

BTC exists and that’s all the utility it needs.
 
Pekelo said:
There is a Bitcoin car at the Indy 500. Dogecoin also sponsored a Nascar in 2017...
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I had no idea lol. But you are right, here he is.
I love this little doggy-face.
Why... I have no idea.:D

n0dl6tp4ufl61.jpg


Edit... you'd think Dodge would have sponsored them ya know. Go figure though. If anybody could fuck up an opportunity, it would be Chrysler. Junk.
 
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