What's the reason for the bitcoin love and "crypto" hate. I'm genuinely curious, aren't they all the same, mostly?
Discussion
Most people think it's all the same but bitcoin is fundamentally different than all other cryptos out there. On the sirface it looks the same, a bunch of digital tokens or whatever. But the devil is in the details. Technically bitcoin was the first crypto but the crypto "industry" has given bitcoin a bad rep.
Crypto is full of scams and is basically a money grab by recreating a broken system in the digital world. It's just digital financial larping. Crypto is just a rube goldberg ponzi machine.
Bitcoin reworks digital money and lays the foundation for a better world. It is fundamentally very different. It has many properties of hard money like gold (which other cryptos don't have) with the flexibility of being digital. No founder or team that can rugpull you, has a fixed supply, it is truly decentralized, and it gives you the freedom to be your own bank. No other crypto can say that truthfully.
Nope
You seem new around these parts so I’ll help ya out.
Is Bitcoin “crypto”, arguably “yes”.
Is crypto “Bitcoin”, provably “no”.
It may seem like semantics, and while there are similarities, the main differences are proof of work, the ethos and culture that’s behind Bitcoin (meaning that many of its proponents and thus those on Nostr embody), and the decentralized nature of Bitcoin compared to “crypto”.
While there are some utility tokens which are trying to appear and structure themselves as sufficiently decentralized; there is only one Bitcoin.
The hardcore on here will tell you “study harder”.
They can be a little rough around the edges but it’s for your growth and the community’s protection.
I’m not going to directly tell you that. I will encourage you to read The Bitcoin Standard by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak if you haven’t and take a gander at https://mises.org/
If you are into Podcast there are a lot of them out there. I’d recommend starting with Robert Breedlove’s The What Is Money Show, then expanding to The Bitcoin Standard Podcast and Bitcoin Audible podcast.
I missed saying #thanks for the #zap nostr:npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424
nostr:npub13cnlldwfhwxd6qf34hnwlfya2m2qrd2zfk0alxnrup6d2fasw9wqxwkzpe #thanks for the #zap
Bitcoin is like playing a game with a set of rules everyone agreed to and that don't change during the game.
Crypto is like playing a game but some dude can change the rules whenever they want and the dude is actually a scam artist
Blockchains are complex & inefficient databases.
Most shitcoins would be more secure & probably no less decentralised if they just used SQL databasez.
The only usecase for a decentralised blockchain is for permissionless money. Few focus on the money usecase but all try to monetize their token.
Crypto is a scam.
Bitcoin is pure monetary premium.
Crypto is synonymous with gambling on unregulated penny stocks.
Bitcoin is the new money.
They’re actually opposite in many important ways.
Bitcoin removes human control (and therefore corruption) from money.
Crypto invites everyone to print their own money.
One is hope for a better world, the other is financial nihilism
They are opposites.
Awesome 😎
what are your thoughts so far?