I did not take it personally, I was just clarifying my opinion.
Edit: Since I am not going to pretend like I am an expert, can you tell me what some of the things that makes bitcoin better in your eyes than other cryptos? I know it has the first mover principle and I do think that is important. I honestly haven't followed crypto a whole lot since buying in at 2017 so perhaps I missed out on some key developments.
I am interested in blockchain technology in general and I do not want to come across as someone who dislikes any coins (besides the scams), just I think the idea of "one coin to rule them all" is a bit silly. That doesn't mean people aren't entitled to have their favorites, I just personally like holding multiple coins instead of only one.
I doubt that I would be able to provide you any kind of snapshot ideas why bitcoin is the better investment, and of course, I agree with a lot of what redbeard said in his above posts (and his other bitcoin-related posts).
Over the years, I have made a variety of more long-winded posts
in several of the 443 pages of the Bitcoin thread, that largely show that I have been pretty consistently following and posting bullishly about bitcoin since late 2013, when I first started investing into it.... Of course, through the past 6.5 (nearly 7) years, I have adjusted some of my bitcoin investment strategies and my bitcoin-related ideas.
Over the years, there has been a lot of marketing money that comes out of the various shitcoin camps that are attempting to spin themselves as if they were either some kind of bitcoin peer (equivalent), or as if there is something wrong with bitcoin that they are purportedly improving. In essence, they are frequently employing various kinds of nonsubstantiated talking points to either sell their snake-oil imitations or their largely smoke and mirror vaporware.
Sure, you might buy into the various marketing and/or talking points of a variety of shitcoins or even mainstream media that frequently spouts out similar misleading nonsense, but none of the shitcoins really have anything to offer in terms of solid fundamentals - except for what they might be merely copying in bitcoin and proclaiming to be doing it better, blah blah blah.
Bitcoin's paradigm shifting invention went into place in early 2009, and largely it's first 4-5 years were without any meaningful attempts at competition at all (meaning hardly any shitcoins were around), so bitcoin had sometime to develop without much attention to it and to take root, and the innovations of bitcoin is not really its technology, but instead the solid design of its sound money that of course is facilitated by a kind of technological innovation that has never been accomplished in previous times.
Of course, bitcoin's innovation was not exactly creating any specific technology but combining various existing technologies in such a way that had never been attempted previously, and proof of work and difficulty adjustments every couple of weeks is powerful as fuck when it is combined, and that is why bitcoin surpasses any coin in terms of its hash power, which largely means that miners are decentrally incentivized to work on bitcoin, and any person can run a node too, to verify the whole fucking blockchain -which really means that the users are in charge, and that was tested in 2017 with the attempted take overs that failed and made bitcoins stronger and to show that the users are in charge.. and it cannot be taken over by even powerful groups..
No other coin even comes close to bitcoin's level of decentralization, hashing power and immutability - even though they poo poo bitcoin, but bitcoin is more powerful than gold in terms of its sound moneyness, including but not limited to scarcity, verifiability, portability, divisibility, and the ability to self-custody with little to no costs or abilities for anyone to stop you.. .or seize it (especially if they are not sure whether you have any)..
So, bitcoin is more powerful than gold, but bitcoin only has about 1/50th the market cap value of gold, which shows that bitcoin continues to have a lot of upside potential, and sure you might not believe that bitcoin can gain another 50x, but it likely will absent some kind of major snafu... even well we cannot really know with any kind of accuracy how long it will take for bitcoin's market cap to reach and surpass gold... but another thing to attempt to understand is the power of the various currently credible bitcoin price prediction models that are largely a combination of 1) stock to flow, 2) four year fractal and 3) s-curve exponential adoption based on networking effects and metcalfe principles.
I am not describing those three BTC price prediction models in any kind of detail.. (I am merely naming them), but they are very powerful in themselves and have a decent amount of empirical data and logic to back them up, even if you do not know or understand what they mean or I mean by saying that they are convincing. Many people do not understand what those models mean, either, and that is part of the reason why bitcoin remains in a currently good value proposition with less than 1% world adoption and more and more people coming to understand bitcoin in the coming years and to find out that it is quite likely that the price prediction models are quite accurate regarding the likely ongoing gravitation of value into bitcoin in the coming years.. maybe it takes 10 years, and maybe it takes 50 years, but the value flow is likely inevitable absent some kind of major breakage..
Anyhow, bitcoin is talked down a lot because either others are threatened by it or they are pumping some other bullshit, but there is a lot of power in bitcoin's simplicity and its ability to be verified by anyone willing to run a node (which is pretty inexpensive given the power of it).
Sure, it is nice, Knight.of.Logos, that you may be willing to keep an open mind and attempt to explore what is bitcoin as compared with other cryptos.
Here is a more or less beginner level bitcoin podcast, even though Guy Swan, the podcast narrator, does sometimes speak in terms of more advanced ideas..
Read_425 - If You Only Read One Thing Before Buying Bitcoin… [Sylvain Saurel]
August 4, 2020
[img=200x200]
https://overcast.fm/art/full/811644?6[/img]
Guy Swan's podcast, bitcoin audible, reads a lot of great bitcoin articles, so he has a series of a lot of great articles that he has read over the years, and frequently comments on them, too... I don't always agree with everything that he says, but he generally is a genuine guy with a goal of sharing mostly bitcoin-focused information.. and making sure to bash on the shitcoins, which any real bitcoin-focused guy (or person) needs to do on a regular basis... ...
One last point. Your seemingly distraction by supposed ethereum benefits seems to be distracted by get rich quick ideas, and I am not saying that you might not get lucky,. but you also might get screwed.. because who knows about how much that piece of shit can be pumped.
Guys get distracted into wanting to get rich quick, and really probably there is nothing wrong with that, as long as their plan ends up working out. In my thinking there is a difference between investing and gambling - and my approach is investing which is personally tailored and attempts to account for my cashflow, my various investments, my view of bitcoin (or any other crypto in your case) as compared with other possible investments, my risk tolerance, my timeline, and my time, skills and abilities to plan my strategies, learn from my strategies and tweak my strategies and allocations from time to time, including the extent to which I incorporate trading into that.
There is usually not a quick road to building wealth, even if you have some lucky breaks along the way. In other words, it tends to take a decently long time to really figure out your own situation in accordance with the above factors that I have described above and to build the size of your investment portfolio through years.. and yeah, if you have some good or lucky investments, then you will be able to add more value to your total investment portfolio and earn more money by having had built more money into your investment portfolio.
Edit: I did make a few changes above to flesh out a few of my rambling ideas a bit better, and I also was beginning to think that if we are mostly getting into bitcoin, as a topic, then we may want to move our discussion over to
the bitcoin thread .
I did cross reference this post in the bitcoin thread.
