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0 sats \ 0 replies \ @028559d218 5h \ parent \ on: On relative earliness bitcoin
Let me play the Devil's advocate.
Mr Trump (or his associates more likely) released a Memecoin.
Does this help Bitcoin education? No.
What about the thousands of 'new coins' created daily on Solana. Do they help BTC education? No.
What about the Trump-World-Defi-Liberty people (scammers IMO) by buying Ethereum do they help the Bitcoin educational-mission? No.
What about Mr. Trump's sensitivity to Bitcoin's use as a MoE or to 'pay for things'?
Well he hasn't said anything about that... but to the extent it becomes apparent that Bitcoin competes with the US dollar in some capacity, would he support it then?
Hell no. He wants a moat around the US dollar (threats of tariffs) and industry (with actual tariffs).
What about 'coinmarketcap' and all the coins listed there... 99% or more are not proof of work, meaning they go to zero and are scams. Yet they are still listed. Why? Because of a lack of education as to what makes Bitcoin special (proof of work and decentralization).
I don't think this is a 'bitcoin' problem so much as an educational problem. Many people believe that "making money" in "crypto" is about buying some random unregistered securities on a 'trading' website and then... trading them with other knuckheads while they all go to zero.
And is there any -
- Proof of work involved. Nope
- Or Decentralization? Nope.
And then there are predictable rug pulls and scams associated with many of these tokens and websites because of the lack of 1 and 2. But all of this could have been prevented if people just studied Bitcoin and stayed away from everything else.
I believe there have to be enough scams and melt-downs like FTX for people to finally 'get it' and go Bitcoin-only. Then we'll see Bitcoin's maturation and development when it is the only crypto but right now there's a lack of education and people haven't been burned bad enough.
Hence the coinmarketcap nonsense. And the posts on Reddit.
Red days in 'cryptocurrency' are great days, because the 'alts' go to zero and Bitcoin survives which is all it needs to do.