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It's crucial to distinguish Bitcoin from other crypto assets.

Bitcoin stands out as the free market's choice for the best form of money—a reliable tool for saving. All other (crypto) assets are fundamentally considered shitcoins for this use case. 🏴‍☠️

Monero and other techs may have their niches, but when it comes to money, they still fall into the shitcoin category. There are many people working on Bitcoin privacy tools, ensuring it has viable level of privacy without needing a separate asset. 🛠️🔒

Constructive debate and education are key. Let’s recognize Bitcoin’s role while being open to other innovations in their specific areas.

hh 1y ago

BTC is a perfect store of value and that's what makes it irreplaceable, but there are other uses it doesn't fulfill, like being a cash currency. Whenever I say that, maxis here go through the roof.

Other cryptos can do what BTC cannot, it's that simple and I don't understand why people lose their marbles about it, like they attach their whole identity and being to BTC doing everything imaginable -- which again, it simply doesn't.

Then, those in the "alt coin" world as well have a wide range of reasons.

Some delude themselves about what "their" token can and will do, especially those saying that "their" token will replace BTC. Obvious nonsense.

Others are in it for the trading to maximize fiat earnings simply because there is a market, so why would you speculate in bonds or stonks, which are as fickle and manipulated as anything else (so is BTC trading), when you can get huge yields with dogeloncumrocketcoin? Among these, one section actually recognizes BTC as their preferred store of value and all they're doing is get more fiat to stack more sats.

There is nothing wrong with that, unless we also criticize those who work for fiat to stack sats, or anybody else who doesn't earn exclusively in BTC, or was able to mine thousands of them back when, and live on BTC forever more.

Me personally, I earn enough fiat working and can direct a sufficient amount to stacking sats so I don't feel the urge to speculate trading anything - no alts, no stonks, no forex, no nothing.

But I will not criticize those who do, just like I will not criticize those who decide to use something other than BTC as cash currency. Even if I don't, if it works for them why would anybody be salty about it?

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Discussion

The Guy That Looked Into It 1y ago

Mostly agree, however there is practically no need for separate shitcoins when we have lighting network that is at the very least native to BTC and tracks its performance. But I agree there is ways to go to make using Bitcoin viable in all kinds of circumstances, including offline.

I personally don't critisize people working for fiat, unless they save their wealth in it (which just by itself fuels govs and central bankers). However when it comes to shitcoin trading (and even some separate stocks and indexes) I see it as a net negative overall. Basically people funnel value away from hard money to useless assets in the hope to dump on someone else and make them hold the bag. No value produced, just transferred from the more clueless people than themselves. And by speculating and putting money in those useless assets they help create an illusion that those assets have some value and in turn help to mislead people who don't know any better. But that just me and I get that some people morals are different from mine.

Otherwise, I couldn't care less about what IOUs and colored coins people are using to transact, as long at they understand what exactly they are doing and that BTC is only sound crypto viable for savings.

hh 1y ago

Right. But your reasoning is basically that "we know better" than people where people should put their money. We don't. We have a strong opinion about it, even a conviction. But what we don't have is the right to demand that people do as we do.

If we're right, it doesn't matter how broke wrong people become and how many hands the money pass. The market is always right and it always self-corrects. So the money will eventually flow to BTC.

We may prefer a faster pace, but that's something we just need to live with.

The Guy That Looked Into It 1y ago

No disagreement there, the market will play itself out eventually 🤝