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RE: Is Bitcoin the Napster of Cryptocurrencies?

in #bitcoin8 years ago

The scaling debate has highlighted that Bitcoin is a bit of dinosaur in the cryptocurrency world.

There is a very real probability of it being Napster'd (or Netscape'd, Myspace'd, etc.) - basically being unable to adapt or innovate fast enough and being replaced by better alternatives.

I still think the idea behind Bitcoin is great, and there are enough smart people working on solutions to make a success of it and turn the unwieldy ship around, but I am really not going to surprised if some other coins eat BTC's (& BCH's) lunch.

For example, just look at how ETH has more real world utility with smart contracts; XMR acts like true digital cash; or new players like IOTA solve things like low cost, fast transactions in completely differently way.

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There is a very real probability of it being Napster'd (or Netscape'd, Myspace'd, etc.)

The billion dollar question is: where will the money flow from it, if it will be Napster'd?

The speculative money will just flow wherever traders believe they can get the most profit. That's what is all about for them. It is amateur investors the ones which have to be very very careful as things happen very very fast in this new fascinating industry.