The former Gartner board member sees the crypto market splintering along pragmatic lines.
Bitcoin could go the way of Sony’s Betamax videotape and flop compared to its competitors. Glenn Hutchins, a tech investor who sits on boards of the Federal Reserve Bank of New York and the NASDAQ OMX Group as well as being a major tech investor, made the claim in an interview on CNBC on May 9.
Hutchins sees one of Bitcoin’s competitors coming out on top, much as the JVC-led VHS format eventually beat out Betamax in the 1980s. In drawing out the parallel to the videotape format wars, the former Seagate Technology and Gartner board member sees different coins filling specific functions and carving out their niches in that manner.
The reference fits as Betamax had slight technological edges in playback and audio specifications and VHS was both cheaper and had longer recording times. Consumers generally voted with their pockets and Betamax eventually became a niche product for videophiles.
Currently, bitcoin still accounts for over 36% of the world’s cryptocurrency market, as per CMC. Ethereum is placed second at 17% of the market and XRP had a 7% market share. New coins continue to appear on the market and are designed to remedy shortcomings seen in Bitcoin. So far, however, they have not succeeded in replacing it.
Exchanges
Binance : https://www.binance.com/?ref=17219803
Coinfalcon : https://coinfalcon.com/?ref=CFJSBSTKGNCW
Cryptopia : https://www.cryptopia.co.nz/Register?referrer=Ghost_Light
Note : (This is my personal research I am not a financial adviser.According to my Opinion the right time to buy these coins are when they are in a dip.The more news about these coins are coming and market works according to news and FUDS. You can make your own research before buying).
Credits : Cryptovest
Your Donations help us to grow :
#Bitcoin : 3F4Gh3nhttBVzp55rkmu9vx1JTyt96RpSG
#Etherum : 0x14191ae0731E040a00A404eD989577ab9e2725fF
#Tron : 0x712678e82473b2d8b1f2412bbfd6f4eaf5a4ef8e
#Electra : EMMdsEHq7uowGvgwhJ9RFnM7EsPSCmmvZ6
#Cardano :
DdzFFzCqrht25kQNdcdnrUF9KECe5uczoLoaLnuE1Lja9cWhkHW87iUwS1ksphMsUaZ6DxinMeRSAybee71kiLUzmQ6LuUxzkGfAwyFu
ZenCash : znVgj2iGMzy4XRDJrixTA8ivjDwPynGiwaJ
Kindly follow me at : --------
Link : https://steemit.com/@ghostlight
Donot forget to upvote
Thanks for Your Support
Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.
Spam is discouraged by the community, and may result in action from the cheetah bot.
More information and tips on sharing content.
If you believe this comment is in error, please contact us in #disputes on Discord
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit