The Myth of the First Mover Advantage.

When the first mover advantage becomes a disadvantage.

Especially among Bitcoin (BTC) followers, the myth of the first mover advantage is widespread. Just because BTC has been the undisputed #1 cryptocurrency since its inception in 2009, that doesn't mean it will stay that way. There are plenty of examples of how quickly market dominance disappears. 

Kodak, Myspace, Yahoo, AOL, and others. What all these former market leaders had in common is that they had inferior technology to that of the newly ascended competition, which was better able to satisfy the needs of users.

The invention of BTC in 2009 marked the beginning of a revolution in the financial industry that continues to this day. A digital peer-to-peer payment system that worked completely without a middleman and was limited to a maximum of 21 million coins was previously unimaginable and promised to be a real alternative to the fraudulent fiat money system. The solution to almost all of the world's problems seemed within reach.     

Many alternative coins, so-called altcoins, have been created since then and have often disappeared as quickly as they appeared. Since its beginning in 2009, BTC has remained the undisputed number one. Its market dominance appears unassailable due to the first mover advantage that any attempt to knock BTC off its throne seems doomed to fail. For Bitcoin maximalists, 14 years of market dominance is the unmistakable sign that BTC is uncatchable.

Branding, market capitalization, network effects and technology are the four factors that characterize market dominance. The first mover advantage is particularly noticeable in the first three factors mentioned. Technology, however, can change quickly, making it the sore spot for any technology-based market dominance. If important user needs can be better met by a new technology than by the market leader, it usually does not take long for market dominance to evaporate.

But what are the needs of cryptocurrency users? In times of ever-expanding surveillance, privacy has become the most important need, even if this has not yet penetrated deeply enough into the consciousness of the masses today. 

We are on the eve of a worldwide introduction of CBDCs and thus complete centralized control of all areas of life. A cryptocurrency should, as the name suggests, be able to be used as a currency in everyday use, including micropayments, and not just as a store of value, as is the case with BTC. 

Unlike the first mover, the late mover always has one of the most important assets to have: the mistakes of the competition. When EPIC Cash entered the market in 2019, the developers were able to look in advance at exactly what the competition was doing wrong and what they were doing right, and design EPIC Cash accordingly. 

EPIC Cash is 100% the DNA of Bitcoin as Satoshi Nakamoto had it in mind, but uses not the outdated 2009 blockchain technology from Bitcoin Core, rather the Mimblewimble protocol, which solves the blockchain trilemma in a unique way, and furthermore has the most important feature of a fungible currency: privacy.  For more detail on the differences between BTC and EPIC, see here.

As mentioned above, BTC only has the sole use case of "store of value" left due to its slow and costly transactions. BTC's highly touted Level 2 Lightning Network for fast and inexpensive transactions cannot deliver what it promises. In truth, it's a complete pipe-burst. 

Desperate attempts are being made to push the proliferation of BTC further. With the possibility of permanently storing NFTs on the BTC blockchain via ordinals, they are banking on the hype of NFTs and thus opening up the BTC blockchain to illegal content. 

EPIC Cash, unlike BTC, is highly scalable, fast and efficient in the base layer. The very lightweight blockchain makes network nodes possible on any home computer and even low-end smartphones. Speed, ability to mine it with basic household and gaming computers, and in addition outstanding privacy are the ingredients that enable mass adoption and exponential decentralization of the EPIC network. The very fact that EPIC Cash is a grassroots movement without an advertising budget is the reason that it's almost unknown.   

With no premine, no venture capital, and no sponsoring corporation, EPIC Cash is solely sustained by an ever-growing global community of freedom-loving volunteers. It fulfills better than any other cryptocurrency the needs demanded of an alternative to the fraudulent fiat money system and the coming CBDCs. EPIC Cash still leads its existence as an undiscovered "shitcoin". However, its proliferation will be more than exponential once EPIC Cash becomes known to the masses. The market will ultimately be dominated not by the first mover, but by the one that best meets the needs. 

The early bird may catch the worm. But it's the second mouse that gets the cheese.

For more information, visit www.epiccash.com