Whenever another crypto emerges that seeks to offer some functionality not offered through Bitcoin, or it seeks to compete with Bitcoin as money, it has already lost by default, and it will trend toward zero against Bitcoin.
Read more here 👇
Here’s our first essay in the Bitcoin Only Series, where we focus on the economic flaws of crypto.
We highlight Bitcoin’s credibly fixed supply and its optimization for money, while altcoins lack credibility due to ever-changing monetary policies. Instead of competing as money, altcoins primarily focus on non-monetary utility, which sacrifice monetary utility by default. We also focus on the circularity of the popular utility of "yield", and explain why it's not actually real and how it's not a substitute for money.
Read the full essay here on Bitcoin Majlis:
https://bitcoinmajlis.org/bitcoin-only-series-1-4-economic-issues-of-crypto/
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