354 sats \ 2 replies \ @orthwyrm 2 Oct 2023 \ on: The term "shitcoin" makes me sort of embarrased. bitcoin
If I'm talking with non-Bitcoiners, then I'll use the term "altcoin" because I don't want to put them off with strong rhetoric that sounds unassailably dismissive.
If I'm talking with Bitcoiners who already align with my views, I'll use the term "shitcoin" because it's more casual and kinda funny to me.
I also try to separate utility vs. investable asset when it comes to alts. I keep an open mind (I think) and conceed there are some neat things you can do on ETH, XMR and even Tron that you can't do on Bitcoin. But that doesn't make them good forms of money one should hold. The failure to recognise this distinction results in a lot of pointless and circular disputes.
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163 sats \ 0 replies \ @notgeld 2 Oct 2023
Yes. I also prefer using "altcoins". The problem with them is that they were historically clones of the Bitcoin codebase; this is why they are "alts." In 2017, tokens and tokenomics were born and close to the DeFi hype in 2020 the existence of clones-of-the-clones of ERC20 tokens and projects led to "shitcoin" term. It is justified but it is insanely hard to do such deep dive with random person.
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50 sats \ 0 replies \ @Michelson_Morley OP 2 Oct 2023
Very insightful and well explained. Actually had to go to your profile and subscribe, which is a first for me. Looking forward to reading more!
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