Bitcoin has Perks over Altcoins in 2020, According to Konrad S. Graf
Through academic essays, Konrad S. Graf tries to make Bitcoin known worldwide. On the 1st of January 2020, Korad, in an interview with Eurasia Review, noted that the future of Bitcoin as a model is highly possible because of its ease of succeeding over other cryptos in various aspects.
Konrad highlighted the following four competitive advantages intrinsic to Bitcoin as below:
Bitcoin Scarcity and Apolitical Value
BTC is scarce and, therefore, ahead of every form of money due to fixed supply. Konrad noted that scarcity is the leading competitive advantage because a new issuance gets restricted. Thus, no one can manipulate the BTC supply and its maximal issuance, which is 21 units. In return, no one can reduce the current Bitcoin’s value held by savers by increasing the digital currency’s supply.
The other competitive advantage is apolitical value transfer, making Bitcoin beneficial for settlements between individuals, as a financial protocol unaffected by fiat snares. According to Ammous, BTC has advantages over fiat currencies because the digital currency functions as a settlement currency without intermediaries. Konrad also pointed out that Bitcoin is neutral; no power block controls it, allowing everyone to participate.
Technical Prowess and Non-entity
As per Konrad, technical prowess is another of BTC’s competitive edge because the digital currency is a market leader for years now. Additionally, its hash rate is doing better than Ethereum or similar market occupants.
The fourth Bitcoin’s competitive advantage is that it is not an entity. Therefore, it does not have weak points targetable by political actors. According to Konrad, Bitcoin will greatly prosper over other altcoins due to its intrinsic competitive advantages.
by Olowoporoku Adeniyi
by Olowoporoku Adeniyi
by Olowoporoku Adeniyi