Is bitcoin dead? There's so many better coins and BTC is outdated and old.

Do you know what’s even older and more outdated than Bitcoin? Western Union.

Western Union was founded in 1851, aka 50 years before the lightbulb became commercially viable. They introduced payments in 1871, allowing people to send money via their extensive telegraph network. Today, the network feels ancient, having arbitrary limits on how much you can send and inconsistent fees.

Every time a new technology comes along, new entrepreneurs would come up with business models to replace this system. Especially when payments on the internet became viable, it seemed like it would spell the end for Western Union’s payment network, considering how much faster and more secure of a system it was.

But Western Union Money Orders remained.

Now Bitcoin and a slew of cryptocurrencies have come around to take payments and move people into the digital era. And it’s a good solution, much better than the way things used to be done. In due time, it will continue to erode away at the global money order market. But just because something is technically outdated and old does not mean that the world will pivot at once to another service.

If people are still still sending >$100 billion of dollars a year via Money Orders despite having more better technology for two decades, why is it inconceivable that people would still use Bitcoin just because it’s old?