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I also only hold Bitcoin as a crypto, but what most don't understand is that Bitcoin will always remain superior in its usecase as a blockchain. The reason? The best blockchain MUST be open source otherwise it can't be better than Bitcoin. And if you know anything about technology, you know what that means. Example: Tomorrow there will be a better code for blockchain technology that acts as a money/value store. 2 days later the code is simply forked to Bitcoin and done. Thus, every Bitcoin user then has the better Bitcoin. So it makes no sense to code on another blockchain than Bitcoin for this use case.
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@Alaba_Invest sorry, but that's just wrong on so many levels 🤷‍♂️. But good thing you have other assets besides Bitcoin after all
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@Kundenservice how could this comment and this post land? Presumably it should be under my Bitcoin Maxi Post!
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@DonkeyInvestor If you explain to me why this is wrong I'll transfer you n 10
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@Alaba_Invest Many blockchains are open source. Bitcoin is by no means alone in this respect. However, due to the lack of a central instance, adaptations to Bitcoin are extremely slow to implement, often remain in the planning stage for years, and are then usually discarded. If Bitcoin were to mimic all other coins, why not take the original instead of the copy? Also, a new currency is created from a fork. I.e. users would then very likely have Bitcoin (with the old features, see Bitcoin Cash fork) and Bitcoin 2.0
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@DonkeyInvestor Then, unfortunately, you have not understood Bitcoin. Bitcoin has already won the blockchain race for its USE CASE. I say yes if there is a better alternative all miners will be in favor of implementing it on Bitcoin. This will take a few weeks. Sure, there is a theoretical possibility that all Bitcoiners will switch to the better alternative, but why would they do that when Bitcoin can implement the same thing? You don't notice changes in Bitcoin as a normal person as long as the majority of the hashrate is behind it. See all the "updates" that have been made so far. With Bitcoin Cash, you don't automatically have that because it has a lower hashrate.
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@DonkeyInvestor By the way, the switch to better code also has a massive economic incentive
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@Alaba_Invest Now it depends on what is a better idea and when you realize that it is a better idea and when everybody realizes it. And then that has to be implemented, it has to be adapted to the Bitcoin code, ... If you just throw everything away and take the code of the 'better idea' you have a clone of the better idea, which also made it to the market later 🤷‍♂️🌝
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@DonkeyInvestor This is relatively quick because the Bitcoin miners/coders are not stupid and have a great economic interest in implementing better ideas. And yes, it would simply be a clone, but that's how it is with open source, there is no copyright.
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@Alaba_Invest Open source can also be subject to licensing conditions. What does Bitcoin do if this new, better idea is not released under open source?
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@DonkeyInvestor Then it can't be better in principle if no one can re-boll the code except a small central instance. This destroys decentralization, mining etc etc. So that is not a possibility and that is exactly why Bitcoin has already won and any price valuation can be fair according to the overall economic situation.