Konrad S. Graf Mentions Big Competitive Advantages of Bitcoin Over Altcoins in 2020
Konrad S. Graf has been trying to help BTC become more exposed through academic essays. In the second part of his interview with Eurasia Review on January 1, Graf noted that the future of Bitcoin as a model is guaranteed due to the ease of succeeding over other cryptos in various notable aspects.
He mentioned some competitive advantages intrinsic to BTC, as below.
The first competitive advantage is scarcity. Bitcoin is ahead of every form of money and other cryptos majorly because of fixed supply. According to Graf, this is its leading competitive advantage, as new issuance is restricted.
That is, no one can manipulate the supply of Bitcoin and its maximal issuance (21 million units). Nothing can reduce the existing Bitcoin’s value held by savers by increasing the supply.
The second competitive advantage is apolitical value transfer and it makes BTC beneficial for settlements between individuals, as a financial protocol unaffected by fiat snares. Graf mentioned the viewpoint of Saifedean Ammous concerning the merits of Bitcoin over fiat.
Ammous noted in his book that BTC may function as a settlement currency without middlemen. He said that the neutrality of BTC gives it an edge, since it is not controlled by any power block, but gives everyone the opportunity to participate.
According to Graf, the third competitive edge is technical prowess. That is, Bitcoin has been known as a market leader for years. Even from time to time, Cointelegraph and other big crypto news outlets, report that its hash rate is doing better than Ethereum or similar market occupants.
The fourth competitive edge is that it is not an entity; hence, it does not have weak points targetable by political actors. This edge was more obvious last year when Facebook revealed the plan to launch its stablecoin Libra that later faced a worldwide backlash.
The CEO of Facebook was called upon by the United States lawmakers many times, as Facebook was criticized for an attempt to remove government monopolies over Libra.
In Graf’s conclusion concerning BTC, “there is no CEO to summon to Washington for interrogation.”
Featured image courtesy of Konradsgraf.com. Source: Cryptopress.