As the most dominant coin, Bitcoin (BTC) easily succeeds in the battle against other alternative currencies known as altcoins. And if you are wondering what makes Bitcoin better than altcoins, there are many answers. Recently, an academic named Konrad S. Graf summarized them in the second instalment of a two-part interview with Eurasia Review.
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Published on January 1st, the interview shows that Graf highlighted a variety of “competitive advantages” which are inherent to Bitcoin. He has sought to gain exposure for Bitcoin through academic essays which expand beyond the mechanism of action, situating it with the broader economic system.
Bitcoin wins in many aspects over other forms of money – and other cryptocurrencies – mainly because of its fixed supply. This is what makes Bitcoin better than other coins and what gives it its unique advantage in the crypto news.
“Bitcoin’s top competitive advantage… is its ability (to) restrict new issuance, the relative reliability of its methods for controlling unit production,” Graf summed up.
Specifically, the supply of Bitcoin cannot be manipulated nor can its maximum issuance which is 21 million units. This can never change to dilute it and no entity, no matter how powerful they are in terms of computing power, can diminish the value of the existing BTC held by savers by increasing this supply. This is in direct contrast to cryptocurrencies with a mutable supply including Ethereum (ETH) and Ripple (XRP) as well as fiat currencies.
Thanks to the apolitical value transfer, “Bitcoin could find some of its most competitive applications” and could “become not only an in-common non-political money unit but also a direct competitor to SWIFT” as Graf explains.
The technical prowess is another thing in the Bitcoin news which is worth featuring. Against major altcoins, BTC’s technical prowess means that its position as a market leader has been obvious for years.
“BTC currently has 97 exahashes protecting its network to BCH’s 2.5 exahashes, giving BTC a hash rate 39 times higher than that of even its next closest digital-cash competitor,” the analyst noted.
Last but not the least in the reasons and questions on what makes Bitcoin better than other coins is the fact that BTC is not an entity. A final advantage for it is therefore the fact that “there is no CEO to summon to Washington for interrogation,”as Graf explained.
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