Please List all your technical and non technical reasons for why Bitcoin only. This to help newcomers and inexperience people learn.
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0 sats \ 0 replies \ @DarthCoin 4 Aug 2022
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100 sats \ 0 replies \ @kilianbuhn 4 Aug 2022
There is no use case besides hard money that both
- needs decentralization
- Cannot be solved with Tor, torrenting, Bitcoin
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10 sats \ 0 replies \ @DarthCoin 4 Aug 2022
Read:
https://bitcoin.page
https://lightning.how
When you are done with that, you will have the answer.
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0 sats \ 0 replies \ @purpurato 4 Aug 2022
It boils down to proof of work, which is the most complex part to understand about bitcoin.
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0 sats \ 0 replies \ @frostdragon 4 Aug 2022
TL;DR cryptocurrencies can be put in two categories:
Bitcoin / bitcoin wannabes
and
Altcoins
Altcoins have a lot in common with fiat tbh.... ETH, SOL, DOGE, etc are centralized. There's a man behind the curtain. There's an admin key. Whoever is in charge can edit it, add more or less of it, freeze it, etc. In many cases, doing something like that might be detrimental to the currency itself, but perhaps the crypto company gets taken over by the government or a malicious actor. Game over. Supposedly there's a nice comfy security cushion with the fact that transactions can be reversed and you can do lots of cool things like buy NFTs, and perhaps there will be a few altcoins that stand the test of time because of their niche use-cases. But if we're talking about resilience to become a global currency, co-opted coins don't cut it.
That leaves us with TRULY decentralized currency. Bitcoin is digital scarcity. It's immutable information. There's no man behind the curtain, there's no admin key. In that sense, it's like physical gold. You can't co-opt gold. There can really only be one successful currency in this space. A) Bitcoin is the most secure option, B) bitcoin's success is very natural / darwinistic, which will continue to be the case until it takes over (every attempt to be a "better bitcoin" took a lot of money and marketing from powerful actors, and they've all failed), and C) so far the market agrees.
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0 sats \ 0 replies \ @nerd2ninja 4 Aug 2022
Why was Bitcoin created in the first place?
Because the current system is one of complete control by bankers who arbitrarily decide who to issue debt to, and inflate the money supply as to make debt a necessity of life.
US housing prices against gold have been a flat line.
Automation means we're able to produce more and more things. Things are more plentiful, yet it still costs more to buy those things
You could save dollars your whole life, but prices would run away from you so quickly you'd never be able to afford the bigger purchases.
So why not just save using gold?
Because its heavy, difficult to transport, difficult to pay with. That's why it needed counter-parties in the first place.
So why anything else? Why bother with all this unnecessary garbage when, if you think about those other things for 2 seconds you'd realize, its someone trying to make money off of you. Bitcoiners aren't trying to make money off of you. We're just trying to fix the money to have a more just economy.
If you got nothing from that, then just stick with this.
We're Bitcoin only because all the scams of the shitcoin space have given the vision Bitcoiners have a bad name. Remember that when we say bitcoin, it is not an invitation for you to introduce your scam coin.
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