The Lindy Effect: Why Bitcoin is Here to Stay
Bitcoin gets a lot of hate from many directions.
You get anti-cryptocurrency people who consider Bitcoin to be nothing more than a fad or ponzi. And you get the pro-cryptocurrency people who consider Bitcoin to be a "dinosaur" that will be replaced by something newer and better.
I think both of those people are wrong, and I'll be using the Lindy Effect to explain why.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Bitcoin as a protocol will probably stay around forever, but at this point its value is directly tied to fiat. The bigger challenge is this: how do you value bitcoin without tying it to the existing fiat system?
Unless this paradox is somehow resolved, bitcoin, or any other crypto for that matter, will not supplant the fiat system (the very thing the tech was designed to do).
Hey Louis I totally agree with you! BTC is something worth holding, period.
Bitcoin is the underlying asset and the Alt coins are the derivatives market. You buy derivatives because they offer slightly unique value propositions from Bitcoin and track the price movement better than any non crypto assets. This way, alt coins should only be owned if your portfolio is built on a solid foundation with a substantial allocation to Bitcoin itself. For me its between 40-50% BTC inside my crypto portfolio. Thanks for the share and explaining the Lindy Effect!
At the very least BTC is always gonna be the cult classic of the crypto world, and anyone who is into crypto will want to have some.
Moon is coming soon :)
Bitcoin is the gold and alt coins is less valuable metals. if I can put it that way.
Change is difficult to accept at the start but everyone has to at some point. Bitcoin is the big daddy of crypto and when you're the best you get a lot of haters.
many people are afraid to buy bitcoin when they hear that they have to pay 10 000 dollar for a single coin. thats why they think is a possibly scam
Bit coin is the only crypto going to last long
There are a lot of others as well . Steem is one for example
Not sure that I believe in the Lindy effect per se as if tomorrow there was a digital currency that was better than BTC it would ultimately disrupt and displace BTC. The observation of a Lindy effect is down to the qualities and specification of BTC and the network effect that results . Despite the technical issues surrounding BTC which still need to be resolved IMHO it was carefully conceived and specified as a "utopian" digital currency / store of value . IMHO the same cannot be said of many of the BTC's alt-coins competitors that are technically inferior with respect to BTC & seem to be just vehicles for short term financial gain via speculation.