No doubt, it is a massive popularity contest. Nothing wrong with that, i think that in the core of thing its always this way.
Welcome to the only example of a truly free market. Recognition, image, good/bad press is very important and matters.
That's why time is a factor here. If a coin or product directly connected with it, turns out to be revolutionary and useful, it will get successful eventually. I think that next crypto-evolution step will be an emerge of a coin that will beat bitcoin on every fields.
Topic: This market is not about Solutions/Technology that a coin offers (Read 126 times)
The reason that Bitcoin has higher value than most other coins is simply because of the trust, strong network effect and most importantly true decentralization. Yes, Bitcoin can't do what ETH does but Bitcoin is the reason why people even look at ETH. Bitcoin is like the gateway to the crypto world, has the maximum number of alt coins and tokens paired against it. So obviously it's more valuable than any other alt.
All I think of this is 'advertisement' not totally but a big factor, the way a specific coin introduced itself to the masses. Because all the hype that was made by the creators and users really affect the innocent to use their coins too.
Bitcoin was the first ever recognized cryptocurrency and with that that's a big factor to build a fan base, being the first to anything matters even though you wouldn't remain the best in the future, it continues to grow and improve its technology for the betterment though.
Bitcoin was the first ever recognized cryptocurrency and with that that's a big factor to build a fan base, being the first to anything matters even though you wouldn't remain the best in the future, it continues to grow and improve its technology for the betterment though.
Hello guys,
I just wanted to share my opinion about something with you.We can clearly see that the market (price,market cap) isn't based on what the coin offers in terms of technology and solutions,and there is quite alot of examples to this;many coins accomplish their jobs as a cryptocurrency way better than Bitcoin and better than other top coins but still undervalued.
Let me know what you think.
Regards
I just wanted to share my opinion about something with you.We can clearly see that the market (price,market cap) isn't based on what the coin offers in terms of technology and solutions,and there is quite alot of examples to this;many coins accomplish their jobs as a cryptocurrency way better than Bitcoin and better than other top coins but still undervalued.
Let me know what you think.
Regards
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