Bitcoin and technological obsolescence

There’s always this fear & fud about something else outstaging BTC and making it collapse.

Nothing is further from truth. Let me elaborate.

1. Network effects and adoption defeats tech obsolescence Ex A. Take Microsoft word and excel. This is still going strong even after 30 years. Many other companies offered similar products for free and there was no loss of moat. Why? Widespread adoption, familiarity, huge numbers of legacy documents make it migrating to something new impossible. For compatibility sake you’re forced to adopt the prevailing ecosystem Ex B. Take Visa and Mastercard networks. Almost no threats for last 40 years. Network effects. Even Apple & Google can’t unseat them

2. Forget market share, focus on mind share. Why is BTC having the largest of market value? Early mover advantage and mind share. It is deeply ingrained in people’s mind that alt coins are for fun and trading and BTC is for wealth creation. It is very hard for something to grab that mindshare. Think Coca Cola. It is in people’s minds and that perpetuates market share. New coins can’t get that oxygen to thrive.

3. Longevity begets more longevity. Success begets more success.