We gathered some quite interesting information from the internet and decided to share it with you. You might have thought about the reasons behind the popularity of Bitcoin, but few probably considered that sooner or later, Bitcoin will be dethroned from the top of the cryptocurrency ranking. Some points may seem funny, but we believe each of them has the right to be considered.

In this article, we analyzed 18 reasons why Bitcoin’s dethronement from the top position in the world of cryptocurrencies is inevitable.

Limited scalability is holding back its development

Even with the transition to the Lightning Network, it will take many years before the network truly scales. For now, every transaction remains an issue.

The security model is questionable

Fees cannot replace inflation, which contradicts the original goals of Bitcoin. This makes the security model unsustainable! There are no realistic plans on how the BTC security budget will be funded in ten years!

No value proposition without security and utility

An unreliable and purely speculative asset cannot serve as a good store of value or money. All you have is one excuse, that “Bitcoin is the best money because it’s the best money.”

The supply is unpredictable

The 21 million Bitcoin limit will have to be raised as a result of utility rejection during block size debates. Increasing inflation will be the only way for Bitcoin to remain secure in the long term.

Weak tokenomics

No burning mechanism and unpredictable supply. Times have changed, and technologies have advanced to the point where Bitcoin’s economy now looks incredibly weak compared to Ethereum.

Bitcoin is no longer competitive

Without a reliable and clear value proposition, it is no longer competitive. Against the backdrop of competitors introducing new solutions, Bitcoin no longer looks as attractive.

Lack of programmability, composability, and compatibility

Bitcoin lags far behind in technological development. In a world where DeFi is gaining popularity, the lack of compatibility and programmability with other blockchains hinders its growth.

Bitcoin lacks DeFi

Due to its technical limitations, Bitcoin cannot participate in decentralized finance, which also hinders its growth.

Lack of privacy

Due to block size limitations, Bitcoin is losing its anonymity, and it also lacks serious technologies that improve transaction privacy.

Inefficiency and waste compared to PoS (Proof-of-Stake)

The efficiency of PoS far surpasses PoW (Proof-of-Work), leading to a superior economy.

Less decentralization compared to PoS

PoS is inherently far more decentralized compared to PoW, as there is no scaling effect. Additionally, PoS does not require warehouses with computing power.

Toxic culture

The shortcomings of the BTC model evoke a deep unconscious sense of insecurity, which fosters an aggressive culture. Toxicity is a direct result of history and anthropological evolution.

Dysfunctional governance

The dominant client implementation, "Bitcoin Core", has achieved effective centralized control over BTC development. The cultural consequence of the block size debate is that competing clients are seen as “Bitcoin enemies.”

Entrenched leadership

Power, on average, always corrupts, and those in power will not go against their own interests. The need to overthrow Bitcoin’s current leadership represents a huge obstacle to positive changes.

The impossibility of solving all these problems

They cannot be solved largely due to dysfunctional governance and toxic culture. BTC’s governance has been destroyed by denying its existence. “The greatest trick the devil ever pulled was convincing the world he didn't exist.”

Self-reinforcing echo chamber due to toxicity and censorship

The block size war was won by the current actors through a massive censorship campaign, which continues to this day. Toxic maximalism encourages closed-mindedness, giving tunnel vision (laser eyes).

Compliant leadership (block size debates)

The leadership responsible for these failures and deviations from the original goals is still in power. From this perspective, BTC remains effectively captured by parties with direct conflicts of interest.

Conflicts of interest (Blockstream & Chaincode Labs)

Most well-known Bitcoin developers receive financial support from commercial companies whose goal is to develop L2 solutions for BTC — this creates an apparent conflict of interest against scaling L1 BTC!

Conclusion

This article contains some theses, some backed by facts, and others that may seem humorous to you. But we believe that sooner or later the moment when Bitcoin falls from the top spot is inevitable.

In this article, we examined 18 interesting theses on why Bitcoin’s dethronement from the top of the cryptocurrency rankings is inevitable.

Let us know in the comments: which of the theses do you agree with, and which do you disagree with? Share your thoughts with our partners.

We hope this article was helpful to you. Wishing everyone successful and profitable investments!