Why Bitcoin was, is and will be the King – Terrence Briggs
We all know who started this whole crypto madness back in 2009. I wish I knew this back then because simple PC mining would bring you a fortune. We all regret but past is past. There are new coins emerging every day giving us the opportunity to “repent for our sins” — sort of speak.
But! There’s always a but. Don’t get fooled so easily. While entering early in new cryptocurrency (especially for those with big rigs) may get you some satisfaction, unfortunately, this is only short-term. New coins come and go, printing like at the conveyor belt and mostly leaving dust behind and sense of dirt in our mouths. Why is that so? Primarily because one-out-of-two coins are scams. Once we lose our trust game is over. And that’s why is so hard to invest in that one good project without a doubt. It sounds good on paper, numbers match but still finding an investor is nearly mission impossible. And what will you trade your new coin for? It’s obvious.
Bitcoin no matter what will hold its number one position for a long, long time. The name doesn’t matter, it would be the same if it’s called monkey coin. What matters is it was first, period. It broke the ice; it started this whole charade. And withstood every menace crypto world threw at it. Ask anyone about BTC, they heard something somewhere about it. All other coins may have better technology, better security behind them — it doesn’t matter people.
Bitcoin opened a whole new world when no one believed in virtual currency (some don’t believe even now). Who could predict that one day we will invest our hard-earned money into a mathematical scramble of ones and zeros? And yet we do. And it’s going pretty well.
However, one thing is bothering me greatly. Most majority of bitcoins are in hands of two or three whales who dictate the price as they please. Nobody likes that. Isn’t that the reason we wanted to create a decentralized cryptocurrency? To escape from the same whales in the real world. The banks. It was always about that, and it always is. Creating a perfect system where we wouldn’t depend on whales mercy. Well, despite that it strongly positioned itself at the throne. Maybe, just maybe we aren’t ready to abandon centralized system yet.
Bitcoin may have its difficulties but there will always be a price tag attached to it, and a very high one, too. It’s not perfect either, there are better and more advanced coins out there. We give it value; we decide how much it worths and it is all about hype. Which it has, more than enough. Until (and if) the time comes when the same amount of faith and hype goes to other coins, then we can talk about it. For now (and near future), the number one place strongly holds you all know who.
Published at Fri, 14 Feb 2020 10:03:29 +0000
