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As its dominance continues to rise among other altcoins, it will continue to become increasingly unrealistic and undesirable to switch. Metcalfe’s law essentially states that the more users a network has, the more valuable the network is. The law itself was observed by Robert Metcalfe, who was the co-inventor of Ethernet, big wins brasil. The lengths of each data series are nearly the same (about ten years). Both were fairly innovative, though not entirely original (Digicash preceded Bitcoin, MySpace preceded Facebook. Both received widespread publicity about their adoption. The recent wave of corporations purchasing bitcoin has been further proof of its dominance in the market. MicroStrategy ($6B market cap), Square ($98B market cap) and Tesla ($573B market cap) did not buy Ethereum, Litecoin, Dash, Bitcoin Cash. They all bought bitcoin as a result of its first-mover advantage and dominance throughout the cryptocurrency market. Relating to altcoins, Michael Saylor, CEO of MicroStrategy also commented on the idea of bitcoin being overtaken by a competitor: ‘There’s never been an example of a $100 billion dollar monster digital network that was vanquished once it got to that dominant position’ Now, bitcoin is about a $1 trillion dollar ‘monster’ digital network. Bitcoin is the most decentralized. The word ‘decentralized’ is used quite often in the cryptocurrency space. However, bitcoin is the most decentralized cryptocurrency of them all and is actually the most powerful computer network on the planet. A bitcoin node is essentially a computer that has an entire copy downloaded of the blockchain, which updates itself every 10 minutes and keeps a publicly available record of every single transaction that occurs. Bitcoin nodes enforce the consensus rules of the network as well as communicate with each other simultaneously.
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