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11 sats \ 4 replies \ @028559d218 11 Oct \ on: BDMD #4 - Bitcoin is like all other digital currencies, nothing new bitcoin_beginners
I love this post.
However in my humble opinion it's a little hard to follow.
For me it's simple... is a token:
- Proof of work and
- without an 'ico' or an unregistered securities offering. and
- is it decentralized!!!
Meeting these criteria, the requirement for anything to have value excludes 99.99% of crypto. It leaves a few proof of work coins and tokens... LTC/BCH/BTC/BSV and maybe XMR.
Between BCH/BSV they are down 95% in hashrate and value relative to bitcoin. They are functionally dead. Ltc makes other compromises to make it 'faster' or cheaper - but it's BS bitcoin is the most decentralized with the best security, finality, long-term value and Layer-2 Lightning.
XMR is interesting... the only other that actually interests me outside of Bitcoin. But I also think it makes too many tradeoffs to be 'private' and 'untraceable' and cannot be global money for billions of people. Privacy on the internet ultimately is sort of a myth anyway.
Thank you Sir Darth
Edit: Note that Ethereum... is neither proof of work (#1) and also had an unregistered securities offering (#2). And then #3 is questionable also.
Which basically means it is worthless and goes to zero :D
Good day!
You are still bargaining... not a true bitcoiner unfortunately.
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I have my own ideas Sir Darth. They've got me this far and I'm sticking to them!
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A bitcoiner should always have:
- integrity
- consistency
- truth
- morality
You can't have these if you still bargain (play with shit) about other shitcoins.
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I've never bought or used anything other than Bitcoin.
And being able to defend why-Bitcoin-only is really important. There will be criticisms from others in the coming years and a lot of volatility - and being principled is important. Having an honest discussion of why bitcoin only is relevant and needs to be honest.
Edit see #718791
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