TD₿: Bitcoin is the Real Innovation, Not Crypto (a thread) by Lyn Alden
TL;DR To equate "crypto" with "bitcoin" is to misunderstand both.
Hey Bitcoiners,
With Bitcoin having another wild weekend in terms of its price action, many Bitcoin bears are all over social media taking victory laps.
This is baffling to many long-term Bitcoiners, given Bitcoin currently sits at — checks price — $20,800. Bitcoin has now been declared dead in the media 455 times, and yet global adoption still trucks ahead.
Long-time Bitcoin critic Nouriel Roubini was one of these exuberant bears when he recently declared the “crypto bubble” popped…nearly 4 years after he declared it busted for good…and this time with Bitcoin’s price sitting 500% higher. 🤣
Bitcoin bears taking victory laps with the price of Bitcoin multiples higher than the last bear market is certainly a fascinating dynamic to observe.
Another observation is that many of these critics still conflate Bitcoin with the rest of the broader cryptocurrency market.
Looping Bitcoin in with the nonsense of “crypto” is a disservice to Satoshi Nakamoto’s brilliant invention and ignores the many differences between the two when one considers Bitcoin’s history, engineering, use cases, assurances, and more.
In case you missed it, Lyn Alden dropped a fire thread yesterday on this topic that deserves to be shared far and wide (06/19/2022).
By conflating Bitcoin with the rest of the crypto garbage out there, all a person is doing is showing that they misunderstand both.
Bitcoin ≠ Crypto.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“From Proof of Work to the difficulty adjustment, Bitcoin is without a doubt the greatest invention I have ever laid my eyes on. The media may declare it dead, but we are only beginning to see the impact it will have on our future.” - Ryan Clements, Bitcoiner and Founder at The Farm Ventures
Meme of the Day
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