My basic understanding is that people are starting to think Bitcoin won’t work practically in its current form due to long processing times and high fees - whereas some of these other “alt coins” are much more practical in the real world...
I really haven’t looked into this in detail but it makes sense.
Kind of reminds me of the internet in 90s where the first movers like Yahoo and Altavista etc. had an early advantage but were superseded by Google once their algorithm was developed - I guess it could be the same here.
The beauty is that the price of Bitcoin doesn’t really affect NOV as they should be able to quickly adapt as things develop.
NOV Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
