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Litecoin is better than Bitcoin, no Ethereum is better than Bitcoin, No Bitcoin reigns supreme in the Crypto world. This sounds like something you might read here on Steemit. Sound Familiar? To me, it sounds just like the old Nintendo Vs Sega debate. Both did things differently, but both provided a service. A common mistake in the crypto field is to believe that only 1 cryptocurrency can reign supreme. Maybe just maybe, it is like video games where there are a big 3 followed by smaller cryptocurrencies. Also, just like video game consoles, new ones come on the market with enhanced power and upgrades. The cutting edge is always around the corner. Sometimes new players come into the space (think Xbox), and sometimes old systems improve upon themselves time and time again (think playstation) and sometimes the first to the market remains one of the biggest (think bitcoin, ahem, I mean Nintendo).
Some flawed or weak cryptos will go by the way side just like some video game consoles. -Sega nearly went bankrupt and become an only software company- Some will be under-appreciated but perform very well (think Litecoin and the Sega Dreamcast). Others will be king (PS4 and Bitcoin). What won't stop is the continual improvement of these technologies. Different upgrades will become available (sharing, friends, graphics, ease of use, speed, fun, the ability to be backwards compatible ).
I think this is good news for Crypto. What Crypto does will only improve over time. Video games have become a bigger market (or near) to that of movies and the box office. Perhaps in time Crypto, will become as big or bigger than the Fiat system we all live under. When video games came out (for me it was the original Nintendo, sorry Atari) people were very confused and even thought that they were the devil. Over time, people embraced video games and get entertainment out of them. Some still don't play and that's just fine because it is not their thing. But for people who are into video games and crypto, it is exciting, worthwhile, and useful. I'm not saying I see perfect correlations between the two, but I do see a lot of similarities between both. For example, the media might think it is just a fad, then over time, larger adaption occurs and people will try to be be desperately getting into the space. The great video game crash was supposed to be the death nail, but that was short lived and video games came roaring back and have never stopped improving. How many times has bitcoin been pronounced dead? Too many to count.
The thing about new technology is that it won't be embraced by everybody because of misunderstanding and fear. There is actually a term for this. I believe it is called a luddite. The industrial revolution brought fear and plenty of luddites. Computers brought fear and more luddites. Automobiles the same. The internet is a glaring example. And now Crypto. It is up to the crypto space and promoters to help crypto be adopted by the masses just like the internet has been. If people simply did nothing, perhaps the internet would have just withered away. Now look at it. It is not a guarantee that the crypto space will succeed. It will take hard work and some genius for it to be truly adopted like the internet was. It looks like Crypto with the soft and hard forks will only improve itself over time. Different coding and technologies will come into the space that will only improve upon it, just like the current video game consoles.
I started this article with maybe 2 or 3 good similarities and analogies between crypto and video game consoles. But, the more I wrote the more I realized just how many similarities there are. I think this is good for Crypto because it goes to show that something can start off rather small and misunderstood, but grow to massive size.
Enjoy your day!
