Li Qiyuan talks about Bitcoin's first-mover advantage at the Shanghai Cryptocurrency Seminar

At 1:30 pm on June 23, 2015, Bobby Lee, CEO of Bitcoin China, attended the Cryptocurrency Shanghai Summit and delivered a keynote speech: "Does Bitcoin have First-Mover Advantage?", in which he elaborated on his views on Bitcoin's first-mover advantage.

Since the advent of Bitcoin, encrypted digital currencies have developed and derived a wide variety of varieties, some focusing on currency exchange, some creating decentralized trading systems, some with unique advantages in fast payment and small rewards, and some focusing on decentralized data exchange between things, etc. A number of derivative coins and secondary tokens with outstanding technical strength, distinctive characteristics, solving real problems, and huge imagination space have emerged. So, will Bitcoin, the originator of digital currency, be overtaken and replaced? In this regard, Li Qiyuan expressed his views in his speech at the conference:

He believes that Bitcoin still has irreplaceable first-mover advantages, which are mainly reflected in eight aspects:

1. Bitcoin is the originator of encrypted digital currency and the first in history. Later, many altcoins and second-hand tokens were developed based on Bitcoin's decentralized blockchain technology. The significance of Bitcoin's "first" is irreplaceable.

2. Bitcoin has been the most widely spread and the most deeply researched so far. Its code, algorithm and security mechanism have undergone countless inspections and tests.

3. The population holding Bitcoin is the largest and most diverse, with Bitcoin enthusiasts distributed all over the world.

4. Bitcoin is the most accepted payment method among cryptocurrencies worldwide, both online and in physical merchants.

5. Bitcoin has huge network computing power, and people consciously and voluntarily protect the Bitcoin network from infringement.

6. Bitcoin has the most determined, experienced and diverse core technical team.

7. A complete and huge ecosystem has been formed around Bitcoin.

8. Bitcoin has made significant progress in government regulation. Once regulatory regulations are improved, Bitcoin will be more widely recognized and used.

Li Qiyuan also participated in the theme discussion that afternoon: "More Than Just Currency: On the Distributed Application of Bitcoin"

The full name of the Shanghai Cryptocurrency Seminar is "2015 Asian Cryptocurrency Digital Assets and Technology Seminar", hosted by the Shanghai International Financial Research Center. More than 400 people attended the conference, and authoritative figures from the global cryptocurrency field brought the latest interpretations on the latest applications, laws and regulations, development trends, security systems, etc. of digital currencies.