Bitcoin or perhaps another crypto money?
Since many users have relatively quickly accustomed themselves to the existence of new and bank-? Independent currencies, the question now arises whether a “boss”, or a leading currency, has arisen here upon which future users can orientate themselves.
It cannot be dismissed that on the tangible market the dollar, euro and also the yen play a leading role. The fact that cryptocurrency, upon its introduction in 2008, intended pursuing an entirely new path is clear, in appearing both more egalitarian and more democratic. Neither nations nor statehoods like the Eurozone and their associated banks were intended to dictate what will be apropos these currencies, instead the users themselves or the network of users were to prevail. There are nevertheless “celebrities” within the ranks of cryptocurrencies, no question about it.
Who was there first and who remains?
In the commercial world, there are always brands that stand behind a product. Throughout the German speaking sphere, almost everyone upon mention of the word “sellotape” will first refer to the leading Tesa brand. From the realm of search engines, the term “googling” has even developed from the market leader. It is clear that people place more trust in particular names than in others. Since cryptocurrencies are still fresh and new, we cannot yet declare that a “special one” stands out above all the rest. Bitcoin (BTC), nevertheless, represents the synonym for many of these new currencies.
A battle for supremacy
Since creators and implementers are surely amongst the fastest and most dynamic of individuals, the successor models to Bitcoin did not take long in arriving. There have been many abbreviations, POP, DOT and other catchy acronyms created. The daily published overview also clearly shows that these currencies compete heavily amongst each other to ‘court the favour’ of users, so to speak. The fact that Bitcoin has risen to “top of the class” should not suggest that it will always remain so. In this fast paced sector in particular, a new shooting star can very easily emerge.
Nationally independent an opportunity
Who knows, perhaps a situation will arise in which various cryptocurrencies can assert themselves on the market. The fact that many of the people interested in this “gimmick” are dabbling with new models and new names could provide for a dynamic which of course also implies some “comings and leavings”. What moves the user to take interest in one currency above another is difficult to fathom. Also clear is that a “currency bashing” of individual providers is taking place and indeed in a targeted manner. The turf continually needs to be divided up anew and that scenario plays itself out not in the absence wounds.
Will a well-known name suffice?
Whether trust, integrity or just the thrill of the exotic leads to new users warming to one cryptocurrency over another is difficult to judge. Old school here is essentially not an issue, so that all new players in the game will enjoy their opportunity.
Whether in the end there will be a handful of sturdy winners or just a single market leader is yet to be revealed. It should also be clear here that ingenious and innovative individuals are jumping on the bandwagon. The story thus far remains exciting for the user.