Are you Bitcoin Maximalists? (WHERE ARE THE ALTCOINS?)
The argument about bitcoin maximalism and everyone’s favorite alt-coin differs. The reason for this website is to help people buy and sell bitcoin around the world…pretty simple…
We do not need to chase the newest alt-coin, ICO or get rich quick opportunity that comes before us. We DO need to know that people can buy and sell bitcoin around the world to store value.
Adoption of Bitcoin
Bitcoin is the only crypto currency that is (and always will be) more valuable than 80% of the alt-coins that exist today.
The people in cryptocurrency trying to “find the next bitcoin” are going to have a very difficult time before realizing that moving every bitcoin hodler, buyer and seller to an alt-coin — is near impossible.
An alt-coin would need:
1. Better security
2. Larger network effect (see Metcalf’s law)
3. A development team. Knowledgeable in cryptography and network security, that builds a “currency,” that the masses will agree to be better than Bitcoin.
4. To solve a problem that one of the OTHER altcoins isn’t already solving (privacy, faster transactions) to work with or without the bitcoin protocol currently.
The only groups large enough to create a valid competitor to bitcoin, would be a government or centralized bank. There are many governments and central banks that are scaling “blockchain” solutions, which will have no effect to bitcoins value as a decentralized currency.
Most Secure Crypto Currency EVER
The fact that bitcoin is valued so highly is partially due to the EXPECTATION that the network and protocol will be attacked constantly. The transferring, storage and security of bitcoins are the fundamentals that continue to make them valuable.
Plus there are the ICO’s that scam people. The more people that realize bitcoin is valuable, although volatile being a new asset class, the more blocks are solved and the more valuable it continues to be.
Altcoins and Blockchain Solutions DO Help Bitcoin
To claim Ethereum, Litecoin and Monero have zero value would be dumb, much like bitcoin was once written off as “nerd money.” These newer and shinier “asset classes” are difficult for people around the world to put an actual dollar value on though. The stock market is “supposedly” the safe and intelligent place to make money easily, so why are so many American’s poor? Can’t we just invest in the stock market and live the dream like the 6% -10% of professional traders that make money?
Much like the stock market, the unregulated crypto currency “market,” is a cesspool. The type of place traders (that can’t earn money on wall street), can figure out ways to scam people with any shitcoin to pay their rent.
The Smart Contract Solution has enough interest to have Ethereum, Ripple and EOS duke it out for “whats the best blockchain” (or whatever the current fight is), we don’t have time to care.
The Privacy Coin Solution has Monero, Dash and Zcash fans around the crypto space, maybe one or all of those coins will be used in 10 years. Maybe Bitcoin Core will implement something to obscure bitcoin transactions… nobody knows.
We just Hodl Bitcoin because thinking too much is hard. If it goes down in price then we might get to buy more on a dip, life is simple that way.
ICO’s Are WAY Overrated – Go Maximalist or Get Rekt
The more ICO’s and ICO marketers that bitcoin hodler’s and the no-coiners support, the longer it will take to focus and support the few crypto currencies of real value. Chasing the dream of a lottery win, with altcoins, is a fool’s errand.
People come to bitcoin when they NEED a decentralized store of value, it never required an ICO or marketing team for people to continue to see value in it.
Even though the value fluctuates wildly, it is still owned by less than 10% of the world population. As adoption increases, the prices people pay to own part of a bitcoin will become more stable.
Adoption will increase when more people actually NEED bitcoin around the world. The lowest value, most corrupt national currencies, will continue to die just like the Zimbabwe dollar and Venezuelan Bolivar.