Bitcoin has proven itself secure over 13 years of continual operation, but what happens to its market share as younger smart contract platforms, with greater functionality, continue to prove themselves just as secure as time goes on?
Yes, there have been a lot of DeFi hacks. It's because these smart platforms are inherently more complex with a greater attack surface. But we learn and improve on code with each exploit that occurs. At the end of the day, a token with a max supply of 21 million can be created on any of these newer smart platforms.
In my mind, Bitcoin will always have historic and sentimental value, but will continue to lose market dominance to more advanced smart contract platforms, and the community tokens that are created upon them.
Yes fair point I think - although possibly the sentimentality alone could mean a very high Bicoin price! I mean 21 million - that's not a lot people required to want 1BTC as a status symbol!