Is "Bitcoin" just a brand?steemCreated with Sketch.

in cryptocurrency •  6 months ago

If you ask anyone, who's not familiar with cryptocurrency most of them will say that they at least heard about Bitcoin, unless of course they spent the last year in the cave or on a desert island or in the desert or on the moon...
Ok, I'm sure you got it.

bitcoin-brand-map.jpg

The feature is coming...

But despite the growing popularity, many still believe that bitcoin is the only crypto currency. It's only a matter of time when the rest of the cryptocurrency is achieved to overall people and the question arises "Will Bitcoin still be leader"?

1*NJs4iL87VU7ZlU3p_hUSvQ.png

In my opinion some coins with their special features, like Ethereum, Stellar, Monero, IOAT and Dash will at least reach Bitcoin's market cap. Of course I do not claim that it is the above listed will success there are more than a thousand young cryptocurrencies, DeepOnion may bypass Monero, maybe other token platform like Neo will bypass Ethereum, maybe will give up on the economy and move into the Stone Age (hmm, all possible options should be considered).

Really #1 or just 1st?

No doubt Bitcoin awesome, but does is that much better than other cryptocurrencies to deserve more 30% market dominance (according to coinmarketcap). I mean if we change names in places and rename any coin to "Bitcoin", won't it reach the highest market cap in a short term?

I've ask that question on bitcointalk (maybe not the best my decision). There were good arguments:

Bitcoin has a longer history, so it's more trustful
I don't think that it will matter in long term. After 50 years no one will care that Bitcoin is 6 years older than Ethereum.

Bitcoin is more decentralized
Yes, Bitcoin doesn't have a dev team or some kind of a single leader, who can easily manipulate the price. But again, that's just only matter of time. Also in other hand on, everything leads to the fact that in the future bitcoin may be centralized in the hands of huge mining farms and mining pools.

But in time I began to feel that I was surrounded by fanatics or maybe guys just needed some activity points, I don't know. Maybe I shouldn't write such things at the forum dedicated to Bitcoin or maybe I'm missing something and I'm totally wrong, maybe I'm crazy and you've just wasted your time reading this post (oh, I'm really sorry if it's so).
Anyway, I hope the community will help me to understand :)

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Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin8681.020$5.77%0.64%
DASHDash634.212$5.61%11.56%
ETHEthereum878.085$8.32%-1.74%
XLMStellar0.398$10.53%3.91%
XMRMonero258.425$5.43%11.4%

Bitcoin is a tough cryptocurrency to evaluate. Knowing all the fundamentals of the cryptocurrency is really challenging. I'm currently studying for an exam where you can be a certified Bitcoin professional once you pass the exam. It's called C4 (https://cryptoconsortium.org/).

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Thanks, will check it out!