Topic: What makes Bitcoin new from Other coins - page 3. (Read 1168 times)

Of course you should vote as long as you can. But between a full democracy and the extreme totalitarian scenario you're painting, which is basically North Korea, there are lots of intermediate states of autocracy. Even in China, known for their quite developed surveillance system, there are at least 20-30 million estimated to hold Bitcoin and most of them are probably unknown to the government. The "US going authoritarian" scenario would be probably similar.

And what's with the 60% of miners not located in the US? In other countries, there would be even less chances for a government to follow that kind of strategy. Even China seemed to have seen no merit in doing something similar in 2021, instead they opted to drive mining out of the country.

Yes, these 4% of the world population think they are the pinnacle of human civilization and the only country that counts, but they will increasingly be less so

I didn't mention an "end of the world" scenario here, the topic I brought up is "increasing authoritarianism". The demand drivers in this case are not only direct threats to be imprisoned or killed and thus a desperate need to hide your money, but also subjective fears that "something bad could happen" when democratic backsliding threatens to intensify. There are several authoritarian countries where Bitcoin is quite popular.

Of course you personally might not have enough confidence in Bitcoin or any cryptocurrency when authoritarianism threatens to increase in your country, and might like to invest in other things, but many people will. I've seen a lot of posts in this vein all over the forum and in other online communities.

Litecoin is at least genuine, as far as I know. And is called "digital silver" 
But, yeah, all of them are not the BTC itself - because it still is the king.

Actually, people don't need the alternative as long as the existing one works fine. At first, Bitcoin was seen as a privacy coin. Then it becomes more popular because of its nature. As the scarcity increases, Bitcoin increases in value. It started from nothing to almost a hundred thousand dollars. Can you imagine the growth? People who have been holding since the beginning turned into millionaires and surely there could be some billionaires as well. I don't think any other alternatives will become this famous. A lot of people tried. A couple of Bitcoin Fork was created including Litecoin, Bitcoin Cash, Bitcoin SV, Bitcoin gold, and many more. How many of them become successful? Bitcoin remained the number one.

Additionally, Bitcoin affects the price of all other crypto, a sign that most of them came from the btc Blockchain. Which is the main use case of the coin. The tech hasn't failed ever since it was launched, it runs on its own. No board of trustees, no CEO, but it's still successful. Bitcoin does the most work in all the cryptocurrencies, that's why every other coin follows its movement.

The last thing you'd want to do if you had to wage war against the US military is use absolutely anything electronic. Even if you were able to hide your holdings of value, you would have to spend the money somewhere, and all of those places would be surveilled. The only way--the only way--to fight against a totalitarian regime in the US or anywhere is to vote--and if you can no longer vote, you're basically screwed.

And if the US military were ever actually threatened by a digital currency, they would simply take it over. For Bitcoin, for instance, this would be a trivial matter of ordering three different public companies to do whatever they wanted. No chance that miners are going to risk imprisonment or death by defying the US government--they will obey the orders and play along. And note that the picture I'm painting here, wherein the US goes into all-out way with Bitcoin, would absolutely mean that Bitcoin plunges in value as all institutional investors, all ETFs, all law-abiding investors, all drop their holdings. And all centralized brokers drop their support for Bitcoin, etc.

So even if the totalitarian apocalypse happened, the absolutely correct investment decision here is wait for Bitcoin to lose 98% of its value when the US cracks down on it, not buy it now at $100k  .


Seriously, this conversation is silly: almost all of Bitcoin's present-day market cap is based on their being a civilization in place that supports a lively financial market for speculative investment instruments. If people want to invest in the end of the world, they should stockpile bullets.

This question requires different answers base on personal understanding of anyone towards Bitcoin, I know quite well that bitcoin is father and mother of others, because the ideas of altcoins was initiated through the development of bitcoin and that is what gives rise to other coins, its obvious that without introduction of bitcoin digital currency will end up as gold people know before, so since satoshi introduction bitcoin that gives the ideas of tokens, altcoins started with tokens whereas bitcoin was established and named bitcoin from initial..secondly bitcoin makes altcoins to increase, ordinarily without bitcoin to increase altcoins will not increase, from my perspective.

Bitcoin becomes a coin that makes other coins created. I feel you understand what I mean this so I can say that Bitcoin is not a new one and there is no altcoin that can equate all the advantages possessed by Bitcoin.
Regarding what makes Bitcoin different from other alternative currencies, in this forum discussion like this has been widely opened and if you try to enter keywords in the Google search section, there will be many articles that you can read.

In the local forums you can find a lot of people worrying perhaps not about the governemnt "imminently turning totalitarian", but about increasing surveillance and decreased liberties. And I've often heard Bitcoin as a solution. Even if the Democracy Index and similar measure for certain regions (parts of EU, for example) still are all-green, the fears are there, for example related to rumours cash could be banned.

This may not be the "average Bitcoin buyer", who very likely is more speculation oriented. But it's one of several demand drivers. And it's one I expect to grow, unfortunately. It seems to be also that relatively wealthy people tend to this use case, as they are far more worried about what to do with their money, i.e. how to invest it even in an adverse situation.

If Trump really goes "full Putin-like" and you want to organize to fight against the regime and needing a fundraising option, then you might re-think your position.

You just described every other digital currency that has ever existed, so this seems to be the very opposite of the word, "unique" .

Bitcoin can stand out because bitcoin is unique and Bitcoin is also an asset that will become scarce in the future. Because the total amount is limited and Bitcoin can only be mined is 21 million bitcoins, while many altcoins are not limited to the number of coins.

In addition, Bitcoin has a wider ecosystem and Bitcoin is supported by decentralized blockchain technology that can track transactions made on the network, this is different from Altcoin. In essence, Bitcoin stands out because Bitcoin is the first coin and has mature fundamentals so that it can survive until now and even for the future.

That's not what I said. I said that the demand for a product that helps you evade government detection is approximately the same as it was when Bitcoin was created for that purpose and uniquely fulfills.

Obviously there is a gigantic market for speculation instruments, of which Bitcoin is one--but here Bitcoin stands along side thousands or even millions of other products that do the exact same thing.


So wrong again because the majority of the people buying bitcoin don't care about any anti-government whatsoever which is why they're still comfortable using exchanges.