Re:Bitcoin Blows Past $9,000
by danenania on Sunday November 26, 2017 @06:29PM
(#15783700)
I think you're underestimating the power of network effects and critical mass. Even when a product (or protocol) has major flaws, it can be an insurmountable obstacle for potential competitors, regardless of how much better they might be otherwise. Bitcoin is going to be extremely difficult to catch on this front unless it has a true meltdown or there's a fundamental shift due to legislation.
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That's fair, but while my 19 year old younger brother has heard of Bitcoin and not Ethereum, the same is not true for developers. I think there is some information asymmetry and a discrepancy in the quality of the users between networks - by quality I mean how likely users are to contribute to new software to make it better, the level of what is essentially corruption/bureaucracy in making changes to the platform, etc.
Facebook and Snap did well because they were "cooler" than their predecessors, and they had different/more uses. I think that's analogous to where I see the future of crypto