BITCOIN……….Guaranteed to outlive its competitors; Why?

If someone asks you what a market is, what would you say? I would answer in this manner; a market can have different definitions for different people.

And as much as we have witnessed how the world has changed, we have seen that we certainly cannot have one definition.

It could be a place where buyers and sellers come in contact with one another for the sole purpose of exchanging goods, and services.

This can have any means of communication. Also, the prices of goods and services sold and purchased are determined by the market forces.

The various types of markets are grouped basically on the type of products sold or purchased. Again, the channel through which the goods can be moved from the producers to the consumers.

Other important factors would be on the basis of prices.

Prices can be influenced in markets such as money market, capital Market, consumer good market, primary product market, factor market, foreign exchange market, labor market, stock exchange market, etc. but it cannot be influenced by a perfect market.

That is because, in a perfect market, the prices of the commodity are the same throughout the market, and information concerning the goods is rightly distributed.

Therefore, the opposite of a perfect market would be an *imperfect one, with the opposite factors as well.

When you really want to understand an imperfect market, consider the word “monopoly” in business. This is the secret to the success of most entrepreneurs today. That is because they are the only ones selling a particular good or giving a particular service.

As such, they have the power to influence the prices of goods and create preferential treatment as well. There is always no substitute and their products are often differentiated.

Understanding monopoly is second nature to you understanding patent laws. This is always businesses done as a result of a conferred law for a particular person or group of persons to protect their new inventions.

Now monopoly is an effective strategy in the market because it encourages standardization, which promotes cheaper production. This leads to efficient and better use of resources alongside greater opportunities to expand operations.

Away with all of these definitions and explanations. If you want to do business today, you do not have to worry about your competitors. Instead, find a way to create values and capture lots of profits from the market. This is certain to blow out all of your competition.

This is what monopoly is about, and this is what the big dogs such as Google, Apple, Tesla, Facebook, etc. are into.

But wait a minute, I am in the crypto space at the moment, and I need to show you an example of monopoly right here, and now. An example that you can truly resonate with is……BITCOIN.

Bitcoin has by far dominated the blockchain and is found to be the king of the industry. It started small and has gradually expanded.

This linear equation is the attribute of monopoly. So far so good, we have seen other smaller coins creeping up, but the king of the jungle has stayed as the king.

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