Why Bitcoin is Different than other Cryptocurrencies
Jimmy Song
38118

Good article. But reading, I think it sounds a bit like dichotomy thinking to be honest. It’s not Black or white — BTC or Altcoin in my opinion. It’s even stupid to call other coins Altcoin in my opinion. It would be like, say, call USD the “true” currency and all other currencies altcurrencies. In addition, I think it is unfair to call them altcoins also to the newcomers of cryptocurrencies.

The truth is, there can exist many hundred currencies — stable currencies with real value. And then some unstable ones, like the Venezuelean bolivar fuerte. It’s like real life; Everyone with a Visa can pay in any currency they want. So why not just load up your card with USD if you’re from, say, France? Well, because you will have to pay fees every time you pay anything in France with USD.

I doubt in the end there will just be one currency to rule them all. I believe there will be many currencies to rule; and some currencies serve other purposes than others. ETH and BTC can live side by side without buying ETH to “Hedge” against BTC in any way. Personally, I don’t buy ETH or Golem to hedge against BTC will go down someday; I buy them because I believe they ALSO will be of a higher value in the future — and stay there along with BTC. There is truely a space for many, not just one.

That’s just my opinion in this crazy cryptocurrency time.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.