Lyn Alden - Why Bitcoin Is The Best Asset (Bitcoin News)

Lyn Alden - Why Bitcoin Is The Best Asset (Bitcoin News)

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Lyn Alden Why Bitcoin Is The Best Asset Bitcoin News

In this video, Lyn Alden explains the nature of cryptocurrencies and the four cycles of Bitcoin. She also debunks the claim that Bitcoin will go the way of MySpace, which was displaced by Facebook.

Here is the summary of the content:

The success of cryptocurrency is reliant in many ways on the network effect, which is how protocols, social platforms, and many other things derive their value. In terms of blockchain, the stronger the network effect, the better the security and development it enjoys, resulting in an entrenched advantage that gives it an almost insurmountable gap, compared to the competition.

Historically, Bitcoin has gone through four cycles of growth, which have correlated to Bitcoin's halving cycle. So, every four years, Bitcoin is pre-programmed to change the number of new coins that are generated every 10 minutes. And during its 13-year history, it's gone through this period where every four years a smaller number of coins are generated. When that happens, the difficulty that the new coin generates results in supply shock. When the news supply gets cut in half, which has least been correlated with a price increase, Bitcoin which might have been labeled dead will recover and start going forward. So, it's been rather volatile, but on the steady-state of increases.

The big question is, how long will this continue. Most signs point that the network effect continues to be extremely strong. Overall, Bitcoin's irreplaceable attributes largely rest on three different categories: security, scale, and decentralization. Bitcoin has the largest market capitalization, with estimated 100 million users, including on-chain users and exchanges and providers. So, Bitcoin has reached a higher level of adoption than the internet did at this point in its lifecycle.

Bitcoin has one of the largest overall networks in the blockchain space. And the more development that goes on, the better the system gets and the bigger the gap becomes, compared to other blockchains in the ecosystem.

Bitcoin reached a trillion-dollar market capitalization and continues to be the leading cryptocurrency in its 13 years of existence. It has already reached a level of scale and market dominance. Bitcoin is largely following the path of a protocol rather than a company, whereas many other blockchains in the space end up looking like a company because they're still reliant on their founders and centralized development team.

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