#Bitcoin tourists think that when the sentiment is bullish is an always ascending line. What they never learn because of lack of reading #proofOfWork is that the ascending process is not smooth is typically chaotic.
Discussion
Video had me until “Ethereum”.
It’s Bitcoin. Not crypto.
Bitcoin will eat crypto first. Then fiat.
"smart contracts”? That’s an app for Bitcoin. RIP Ethereum
“privacy”? That’s a side-chain for Bitcoin. RIP Monero
“Fast and scalable”? Lightning et al solves this… RIP Litecoin
Once the king of “crypto” is indisputably crowned, all other shitcoins die.
And while on a rant - for anyone who bought theSpot Bitcoin ETF - this is simply Wall St. hooligans in nice suits wrapping this technological phenomenon in fish wrap, pressing it in and trying get a good mold of Bitcoin, removing it - but transferring some stink first, and then taping up the fish wrap, stamping an IOU on it, and then selling these to suckers. Don’t worry. The suits have your bitcoin, your fish wrap may or may not be redeemable for fiat some day - at a price determined by the holder of the asset (not you, you get a ticket). But one thing is certain: will never ever see the underlying asset. NYKNYC. And therefore you fail to understand the very thesis of the investment in the first place…but I digress.
Unlike gold, which often does not require physical delivery - which leads directly to hypothecation, Bitcoin ownership is sublimely, thermodynamically and cryptographically secure and transferable over a communications channel.
Bitcoin will become: Global Base Money™
When? Hard to say. Stay humble. Stack.
Any day now. Bitcoin maxis like to constantly tout network effects every chance they get, but pretend it doesn't cuts both ways
No one uses Bitcoin for smart contracts, they use Ethereum
No one uses sidechains(mostly vaporware) like Liquid for privacy on DNMs, they use Monero
No one uses Lightning for cheap and scalable txs, they use Litecoin
until I see DNMs going away from XMR and back to BTC, these maxis who claim bitcoin is private enough or could become private enough can eat shit. convince real people doing real things or it's all talk.