Bitcoin is definitely on the ropes these days. The price is well off its highs. Elon Musk has been trashing it. A lot of people are getting ETH-Pilled (we have an episode of "Odd Lots” later this week about the enthusiasm for decentralised finance on the Ethereum blockchain). And now my colleague Tracy Alloway has written about how Bitcoin could be the next AOL or MySpace. The basic gist is that while being the first mover is great, history shows that if something comes along that’s better, then that first-mover advantage can only get you so far.