TD₿: Is Bitcoin the Myspace of Crypto? by Yan Pritzker
TL;DR Bitcoin is not the Myspace of crypto because it is not a tech start-up, it is money.
Hey Bitcoiners,
I was on the phone the other day with a very intelligent investor who was just starting to learn about Bitcoin.
He asked me a common question I often hear from people trying to understand Bitcoin for the first time, “Isn’t Bitcoin old tech? Won’t it be passed over by some faster, better cryptocurrency?”
To be fair, if Bitcoin were a tech start-up then this would be a fair assumption to make, however, Bitcoin is not a tech start-up, Bitcoin is money.
To overcome Bitcoin as money, a new digital money would have the daunting task of somehow becoming more decentralized, more secure, more liquid, and more salable than Bitcoin is. Good luck with that.
Swan’s CTO, Yan Pritzker, wrote this blog post to explain all the reasons why Bitcoin is not the “Myspace” of crypto (02/28/20).
Whereas other cryptos compete with one another for who will be the go-to “world computer” or smart contract platform, Bitcoin has virtually no competition as the most liquid and most secure digital money in existence today.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“Bitcoin is not MySpace or any other internet app, it's the Internet protocol. Bitcoin is not Model T car or any other road vehicle, it's the road system. Bitcoin is not the Krugerrand or any other gold coinage type, Bitcoin is the Gold element.” - Giacomo Zucco, Bitcoin entrepreneur, educator, and consultant
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