What makes Bitcoin different from other cryptos?
Mars and Cars
Most people think that BTC is cryptoCURRENCY, which is completely wrong. Currency would be an instrument that money use to flow into the economy and be used for exchanges of goods and services. Tether and USDC are crypto currencies, but not BTC. Many people think bitcoin is just a crypto network, but unlike tens of thousands other cryptos, BTC is very decentralized, with both mining capabilities and hodlers.
Probably the biggest thing that differentiates Bitcoin from the other cryptos is, that BTC is actually an ethical property. Why ethical? There is no board of directors that can control or rewrite its code or print any extra BTCs than the 21mil Satoshi has decided to include. Meaning its no different than a barrel of oil for example, the Mayor of LA cant wave his hand and make a barrel of oil not a barrel of oil, well same is with Bitcoin, its not controlled by any organization or person, just Satoshi Nakamoto who wrote the software 14 years ago released it to the public, giving a gift of digital energy to the society. The President for example can say to his people „I believe you should buy land, house, car and raise animals“, this is ethical , since no one person benefits from such saying. Rather, if he was to say „I believe $MSTR will go up forever you should buy it“, is not only unethical since there is a board of directors, my man Saylor, that controls the security MSTR is, but also the nation will revolt saying, WHY NOT AAPL, WHY NOT TSLA, WHY NOT GOOG, WHY NOT AMZN. Recommending buying security as a public figure can be charged as fraud, since someone can use it for pump n dump. On the other hand, promoting Bitcoin is completely ethical since there is no one person that can print 21 mil more or change the protocol in his favour.
Most other cryptos on the market have had an ICO, meaning there is a team behind it and probably there has been premining, as well as full control over the network, giving the opportunity to take it off and online whenever (Solana frens). Since BTC was released to the public and then started its mining, there was no Innitial coin offerings or air drops, it has just been the Nakamoto consensus and the hash 256 algorithm. Quite simple but not easy, block sizes were debated for a long time, which could have changed BTC economics forever. The block after all stayed the same 1mb size with 2k transactions/10m.
But what if someone makes a copy of Bitcoin and it works better, well we could see that there have been thousands of tries to copy a digital asset network, unfortunately unsuccessful, showing us that the market cap of the entire crypto economy including all of its platforms, currency, art and property. Bitcoin dominating at over 40% atm, meaning of all the digital asset tries, BTC has accumulated the most value, showing its strenght in bull and bear markets, through halvings and increasing hash rates, 83 China bans and much more.
As Saylor explains it, if you had land in Africa you’d sell it for land in Europe, if you had land in Europe you’d sell it for land in the US (debatebly), and if you had in the US you’d sell it for Digital property, removing all of the taxation and maintanance costs, using Moore’s law and having the capability not only to move your property outside of the US, but anywhere on Earth with the speed of light (kinda). Money will flow out of weak property and will go into strong and incorrputable one.
Another huge thing is that currently hundreds of countries on Earth have their own local currency, as well as countries that have adopted the same currency (like the EU, thanks Lagarde). Often USD is used for reserve currency and its need for exchange and loss of value every time money changes its state. What will happen when many nations currencies crash, they will either pegg to the dollar/euro, or like El Salvador, might adopt a BITCOIN STANDARD. Meaning there will not only be dollars or whatever currency in use for payments, but also all shops will accept BTC payments, probably through Lightning Network since its instant and extremely cheap to integrate and use.
Currently the world is suffering the inefficiency of capital expenditure and trade wars everywhere. There are countries that are implementing capital control, meaning that flow of money in and out of the economy is regulated and limited, since the central bank wants to keep its strenght in controlling THE PRICE OF MONEY. Any country that implements capital controls is a big red flag for the citizens. For example, if my country was to implement capital control, I couldnt use my money as an instrument and purchase assets in foreign markets, like the NYSE and buy TSLA, I could probably only buy GOVERNMENT BONDS WHICH ARE GUARANTEED TO LOSE ME MONEY. So capital control is a big no no.
Comments
Bitcoin its not money. They are simply worth that people are willing to pay for them in the market.
And its value are linked to what happens to the "real economy".
Im not sure how economically informed you are, but absolutely everything is valuable because people are willing to pay. If you want to say no, gold has value, it has only to people, which still fits in the belief system, not sure if you can understand
Yes everything fits in the belief system... But not everything is money/currency. And Bitcoin its not, for sure.
This isn't the most open minded thinking, taking in account all world currencies are crashing extremely fast and its obvious that fiat systems don't work in their current environment. There is a better solution, if you are willing to look and learn ☺️
Well... Bitcoin never crashed????
The value of the cryptocurrency market overall has plummeted alongside rising inflation, with bitcoin losing half of its value since January
The actual monetary system is working. To put inflation down interest rates need to be raised.
I dont see why the point that there is no "central Crypto bank" its a great thing.
currently, BTC is more stable than S&P 500
If you want to see BTC as money you cant compare it with the stock market.
BTC doesnt solve any problem. Its just a new kind of asset designed perfectely to be an anti system flag.
"It's tricky because it's supposed to act like a currency, it's taxed like property and some people compare it to a commodity. At the end of the day, it really is its own asset class that doesn't have a pure definition."
- Anjali Jariwala
A zast tu pises na grcko engleskom
Laz do lazi
is it related to our event?
nice
1 € = 4670 satoshi.