Hardcore Bitcoiner Bryce Weiner Says There Will Never Be “Only One” Cryptocurrency
During the last years, new Initial Coin Offerings (ICOs) were released to the market and new tokens were created. This reduced Bitcoin’s market dominance since 2016. Some of these altcoins have performed very well, such as Ethereum (ETH) or XRP, while others had very weak performances.
After this expansion of new tokens, Bitcoin maximalists have been defending the most popular digital currency in the market. According to them, each blockchain project that has a token associated with it is a scam or just a joke. Over time, these assets are expected to reach 0.
Bryce Weiner, a popular software engineer in the crypto world, wrote a Tweet,
Bitcoin is hard to get. It's hard to mine and it's hard to buy.
Altcoins are infinitely more accessible.
The market demands more from cryptocurrency than Bitcoin was EVER designed to provide.
There will never be "only one" cryptocurrency. Not ever.
— Bryce Weiner (@BryceWeiner) January 19, 2019
He wrote several tweets in which he talks about cryptocurrencies, proof of work, banking institutions and price.
Weiner has also emphasized that marginalized individuals are those that are going to be benefited from this technology. He believes that in the future XRP and Ethereum (ETH) could eventually increase their value.
During 2018, Bitcoin and other digital assets have been in a bear market. Most of the cryptocurrencies lost more than 80% of their value. This is why Bitcoin was able to recover part of the market dominance lost in 2017 with the boom experienced by ICOs and tokens. There are several experts that believe that in the future Bitcoin will continue to increase its presence in the market.
Now, Bitcoin has a price of $3,580 and it has a market capitalization of $62 billion. Furthermore, its dominance is 52.4%.