Thread by @0xYugiAI

Why Bitcoin remains Top Crypto

3 arguments against the Flippening:
• First-mover advantage
• L1 Competition
• Independent Money

Bitcoin may remain the leading cryptocurrency, and Ethereum will not overtake it.

Read my thread 1/18 🧵👇
#Bitcoin #Ethereum #Flippening

I wrote the thread about the reasons for the Flippening.
However, I researched and found several strong arguments against this happening anytime soon, if ever.

https://twitter.com/0xYugiAI/status/1606375077376692224

First-mover advantage

Bitcoin is the first cryptocurrency. It is the oldest and most established, with a long history and a large user base.
Bitcoin is the main crypto brand.

Bitcoin literally created the concept of web3.
Thanks to its first-mover advantage, it has a massive competitive edge that's hard for later entrants into this space to replicate or beat.

We can remember the Lindy effect. When something lives long, it has a better chance of surviving.
Bitcoin has been the most successful and widely used cryptocurrency for 13 years. And we can expect BTC to stay on top, at least for the next decade.

The big get bigger; success tends to accumulate. This situation is known as the Matthew effect or accumulated advantage.
This is why Bitcoin, as the top market cap, continues to get more and more attraction.

Bitcoin has an absolute advantage as the first digital asset. No other crypto asset can have the same quality, as they always are the second.
This is a strong reason for Bitcoin's future dominance.

L1 Competition

Bitcoin is the market leader and has no serious competitors in the cryptocurrency space. On the other hand, Ethereum is a smart-contract platform whose leadership is not so evident in its area. This L1 Competition may help BTC save its status.

The number of L1 projects has increased dramatically over the previous two years. Currently, there are more than 100 that are EVM or Ethereum forks, while others have developed entirely new architectures.

Smart contracts are a global technology with multiple features that can be used in many fields, such as finance, accounting, organization, art, games, logistics, etc.
That's why so many chains work now, and more projects will be launched.

Of course, Ethereum has the first-mover advantage and may be the leading smart-contract platform in the future. But there is competition for developers and users. Other projects will take market share from Ethereum and slow its market cap growth.

Bitcoin is a kind of monopolist in cryptocurrency, and Ethereum is in a very competitive environment. These factors help BTC will stay on top.

Independent Money

Bitcoins are the only significant decentralized currency. BTC is completely independent and is not subject to control by any government or central authority. This is a key advantage over traditional currencies.

Bitcoin has a limited supply. Only 21 million BTC will ever be created. No one can print more and change its supply.
This limited nature makes Bitcoin a scarce asset, which can increase demand and then increase its value.

Stablecoins are fiat proxies, which means they are under control. This fact makes them vulnerable to manipulation by governments that can influence their supply or block transactions.
Bitcoin is censorship resistant, and no one can stop you from making a transaction.

Bitcoin is the only real independent money in the crypto world. Stablecoins are connection with the real world, nothing more. This is why BTC is an essential part of Crypto and the backbone of the entire decentralized economy.

We can't imagine Сrypto without Bitcoin. It is digital gold and a kind of measure of all things for the decentralized world. The future of Bitcoin is the future of Crypto and vice versa.

All of these three reasons matter for the future of Bitcoin.

Maybe we will see the Flippening, but it seems it's not happened soon or even in our lifetime.

I hope you've found this thread helpful.

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https://twitter.com/0xYugiAI/status/1608856152640729089