Bitcoin is a protocol. It will continuously improve, unlike a traditional tangible asset.

I see many comments on forums and in the media that suggest that bitcoin will have value until/unless some other crypto replaces it. These ideas are fundamentally flawed because they are comparing it to something like a car, which can become obsolete when a better model comes out.

Bitcoin is a protocol, not a physical good. It can be updated and improved over time. This has already occurred--Segwit is an example of an update to improve transactions. The idea that some new crypto will suddenly take over and devalue Bitcoin doesn't really hold weight because any technological improvement can be incorporated into Bitcoin.

Right now, Bitcoin is the cutting edge as far as brand recognition and adoption. Do not mistake the value that this holds. The reason 99% of movies coming out are remakes or reboots is that people tend to buy brands they know and trust.

Cryptocurrencies as a whole could face troubles. All these scamcoins and ICOs is could put a bad taste in the mouths of the uninformed and slow adoption. But the idea that bitcoin will be replaced by some other crypto with slightly better technology is misinformed.

Submitted November 18, 2017 at 09:10PM by MakinGreen http://ift.tt/2zTHXTV