Why Bitcoin will not be replaced in foreseeable future

“as a digital store of value”

We can compare current bitcoin network’s scenario to how Tesla (with its self driving tech) and Google (with its search engine) works and dominates their respective market.

Tesla’s self driving tech is exponentially getting better through snowball effect where people in coming years will prefer tesla’s self driving tech over others because it is better right now and that keeps making tesla’s tech even more better than its rivals with time; thus if another company with same or different tech(e.g. LIDAR) trying to compete will never really catch up to tesla. Same goes with google’s search engine where more people using its search engine only makes it more better than rivals and makes it more difficult to displace with time.

The way decentralised networks work is similar where they need to reach a threshold to be considered reliable & once people believe it is reliable more people start using it; Bitcoin’s network has been constantly growing andhas not been compromised/hacked for 12 straight years since its inception.

Bitcoin network’s hash rate (its network’s strength) is rising constantly as more people join the network and start mining bitcoins which only makes the network more secure to hacks with time; any new cryptocurrency coming to market will not have the network strength in beginning and is more likely to get compromised by a rival network.

Relatively new cryptocurrencies will highly likely be hacked in its initial months/years thus possibly never really catching up to bitcoin in terms of reliability.

Thus displacing Bitcoin, if still possible, is only becoming more difficult with time.