According to Investopedia, the company which is the first one to bring a product to market, gains considerable and at times an insurmountable advantage over all competitors.
There can only be ONE first to market.
There can only be ONE FIrst Automobile
There can only be ONE first plane
In the case of cryptocurrency, there can only be ONE first cryptocurrency, and it is bitcoin.
Bitcoin, the first amongst many
As the first cryptocurrency BItcoin enjoys considerable First Mover Advantage, and so far it's token price and market cap make it the most valuable cryptocurrency.
Furthermore it's focus on security and doing one thing right, being money, has allowed it to evolve into a pretty secure project.
Ethereum, the third cryptocurrency, has many fams and a large development foundation, but it has not caught up to Bitcoin in token price or market cap, despite having no cap on the number of tokens like bitcoin, and having no built in deflationary tokenomics.
Furthermore, as countries adopt bitcoin as legal tender, companies buy and hold bitcoin on their balance sheet and some countries consider holding bitcoin as a strategic asset reserve like gold, it continues to pull away further and further from the cryptocurrency pack, as a lone token called the first cryptocurrency, and all other tokens are called altcoins, meaning not Bitcoin.
Hive
Here on Hive, we enjoy being an innovative blockchin, with many features not possessed by Bitcoin. And we relish our position as a leaderless society or project, with code as law. But with such freedom comes chaos and rule by the stringest individuals and the strongest coalitions.
We have many avenues to success, and we are travelling all of them. We may yet reach our destination.
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bitcoin first mover advantage | Ecency
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