Pretty much no one in this thread understands the difference between crypto in general and Bitcoin and it’s f*ing sad.

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Seems like an important topic because most of the differences between bitcoin and other coins aren’t completely obvious, confusing many.

Don’t really follow other coins, but I’m assuming nearly all have a public key/private key mechanism to transfer their coins, and a ledger to order the transactions, similar to bitcoin (whoops if I’m wrong about the other non-bitcoin coins).

So the differences are pretty varied and somewhat subtle. Bitcoin had the fairest and most random initial coin distribution. The people who dedicated their time and efforts early on in the project, had no precedent to follow. Bitcoin had no value early on and there was a good chance it never would, so they may have been wasting their time and resources. So the early adopters were pretty much believers, not just people randomly throwing some cash on a token that was born with value, hoping it will pump even more eventually. The early coins went mostly to believers, not to friends and favored investors of the people involved in the crypto coins initial offering. The bitcoin community started as believers in the tech, and believers in holding/hodling bitcoin for the long term, at least much much more than other cryptos who followed.

Then there’s the not so well understood for most people subjects such as first mover advantage and network effect, with its take no prisoners exponential growth. With a 5 year head start to other coins, only the most gigantic f*ck up could ever get bitcoin to lose its domination of all other coins. You just can’t break through something that’s growing exponentially without something that’s orders of magnitude superior coming along to replace it.

There’s the not so subtle aspect that many close to bitcoin believe that if bitcoin goes down, all others will follow due to their centralization. So just by that alone, it is the dominant token and always will be. The decentralization of bitcoins “immaculate conception” can’t be duplicated again, they say.

Then there’s tech details like 10 minute average block times and software that’s not turing complete that seem better suited for a base layer for money, as well as dozens of other tech details I am not so aware of.

It’s a big subject and not so obvious. I would never be quick to mock someone who doesn’t see why bitcoin can, will, and must dominate all the other coins at this point.


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