One thing that I’m excited to work on into the new year is a project I’m calling “Altcoin 101.” Before you make assumptions, let me explain.

Something I’ve always tried to stay true to is to not hate what you don’t know. No matter what it is. In that same regard, I am going to be doing deep dives into various shitcoins on an intelectual and fundamental level with the view of them being a solution to a Bitcoin problem and disproving that.

This idea came from an Uber ride where the driver was fairly knowledgeable about Bitcoin (relatively), but thought that there was a scaling issue, and thus came to the conclusion that XRP was the solution. He had never heard of Lightning and was very open to learn about it. I was able to help him understand Lightning to a degree, but was not able to disprove any of his XRP claims. We have created a relationship and I’m going to keep working to move him over.

I want to share this research with you all as I conduct it so it gives you a ground to argue against shitcoins without just saying “they’re not Bitcoin so they’re bad.”

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I hope to dive into some of nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev material with ShitcoinInsider to aid in this.

I was gonna say, you're bringing back Shitcoin Insider podcast. 🤙

Probably not the best conclusion from the Uber driver there. Not sure if that should in anyway affect your compass. 😅

I think this is a very worthwhile endeavor. Know thy enemy. I've had an admittedly crypto past like many of us here and i think its just as important to understand why something doesnt work as it is tonunderstand why it does. My crypto experience has been institutional and was on the research side of small crypto firms. Please let me know if there's any way I can help in this.

Do monero

As you do this, one suggestion, please see if you can analyze altcoins in the context of a specific use case.

I think there are at least 3 different ones in the overall space.

1. Digital gold. A long term store of value, inflation hedge, impossible , or at least very hard, to confiscate. Bitcoin is a clear winner, at least in my view, due to decentralization, network effect, etc.

2. Daily payment rails, like, to buy a coffee. This is where speed and fees matter a lot. Enter lightning, but here we compete with fiat payment rails that work pretty good, to be honest, in my view, at least in the developed world, like paypass, Visa, revolut, cash app, I can do transactions instantly and for free... But no privacy and "they" can block me if they want.

Privacy is another dimension here. Actually also in the digital gold use case, because ideally we don't want dystopian powers to even know we have Bitcoin, right?

3. Smart contracts. Here we enter things like etherum, Solana, etc. and capabilities like DAO, decentralized exchanges, or even these digital receipts for paying for images, however they call them. This is what Bitcoin was probably never even designed or intended to be used for, but still people try.

So, not sure if it helps, but I felt like sharing.

I think that, if we compare Bitcoin with other coins, it will be good to say compare for what, what use case

Good luck with your research.

>"I am going to be doing deep dives into various shitcoins on an intelectual and fundamental level with the view of them being a solution to a Bitcoin problem and disproving that."

So you already have a conclusion and are just seeking for ways to confirm that. You're not open to being wrong.

Doesn't sound very intellectual