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RE: The Crypto Great Filtering

in LeoFinance3 months ago

Well, I am not a bitcoin fanboy (said this a million times). Also, I don't see a competition between alts and bitcoin. They all exist in their own space, catering to different people. The market is segmented and so having just one coin wouldn't be ideal. Although I feel some alts will surpass bitcoin in terms of usage. A vast majority of the world's population to not have wealth to store. However, they have time to use, skills they can exhibit, people they want to interact with and other blockchains cater for these needs which, if they go mainstream, can bring a ton of value to billions. So I would still invest in alts, even more than bitcoin (still making it look like a competition).

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Yeah I concede there will always be altcoins and that there should always be altcoins tackling niche ideas, but ALOT of projects I see today don't even need a coin, they could legit do the same thing and just Bitcoin and be no worse or better off.

I personally can't see any alt network being used more than BTC indirectly or directly, what I think is alts are just a playground for ideas, BTC is the funding they work together.

Altcoins to me are just rehypothecated Bitcoin, it's taking a Bitcoin and wrapping a new name around it and putting it on an external database, wether you get the same/lower/higher sat value when you move back is a different story.

ALOT of projects I see today don't even need a coin, they could legit do the same thing and just Bitcoin and be no worse or better off.

Very true and j will attribute this to the fact that crypto is still very much in its infancy and people can get away with this sort of scheme because others aren't so knowledgeable.

I can't see any alt network being used more than BTC indirectly or directly, what I think is alts are just a playground for ideas, BTC is the funding they work together.

This is where I disagree.

Altcoins to me are just rehypothecated Bitcoin, it's taking a Bitcoin and wrapping a new name around it and putting it on an external database, whether you get the same/lower/higher sat value when you move back is a different story

Well, the same way social media platforms grow into different frontiers even though they perform the same activities. People love diversity, this is why I believe alts will continue to thrive

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I don’t compare Bitcoin to Alts, Bitcoin does it’s job and continues to do its job, Alts still need to validate their existence, having watched the market for years I’ve seen many come and go!

I have no issue with diversity I am an advocate for choice. Personally I don't care what Alts people invest in, when they fail all that value comes flooding back into Sats anyway..