Why is Bitcoin winning? It comes down to the bitcoin network effect.
This is the exact same force that made Facebook and the Internet dominant.
A telephone network with one person is useless. A network with two people is okay. A network with a billion people is indispensable.
Every new person who buys Bitcoin makes the network stronger, more liquid, and more secure.
Value grows exponentially.
Critics say “another coin could replace Bitcoin.” But they ignore the network effect. You can copy Bitcoin’s code, but you cannot copy its millions of users, miners, and developers.
It’s like trying to start a new internet. Good luck getting everyone to switch.
Because Bitcoin was first and has the largest community, it has gravitational pull. It sucks in value from inferior networks. The bitcoin network effect is a moat that gets wider every single day.