Bitcoin is better money, the best money
Bitcoin is better money – actually the best form of money ever. It doesn’t pretend to remake the web or introduce exotic financial instruments or allow your company to run itself, or a new art form. It’s just money. It’s been better money from the beginning because it’s digital, decentralized, and scarce.
Bitcoin actually has a use case that people all over the world are using.
Bitcoin is not a security
The U.S. Supreme Court’s
: “an investment contract exists if there is an “investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.” Nearly every other crypto asset is a security
: it’s a project run by a centralized team, with the goal of making a profit. Token buyers are investors, hoping to earn a reward from the work of that team.
When you buy a crypto token, you’re betting that the team that runs the token will beat 10,000 other projects and make you a profit. Often, they are backed by millions in venture capital, which they use to sell their investment.
Bitcoin is different. There is no one in charge, no “Bitcoin CEO” or marketing team, no venture capital, and no securities token. Bitcoin is truly decentralized, and all decisions are made by a community consensus process.
We can see evidence of centralization the fact that other networks can simply reboot their blockchain
when they have a bug, or the fact that Ethereum’s supply schedule changes
more often than the weather. There will only ever 21 million Bitcoin, and there is no group or charismatic leader in charge who can ever change that.
Bitcoin has no demagogues
Cory Klippsten, the CEO of Swan Bitcoin:
“Why is Bitcoin not a Ponzi scheme? The big difference is that there is no entity or group of people that control Bitcoin who are marketing Bitcoin to be able to dump it. If anything, most Bitcoiners that promote Bitcoin are just buying and holding as much as possible — and people who love it the most are the people who never sell.”
Bitcoin has a fair distribution
* No premine (Satoshi didn’t grant himself any coins)
Satoshi gave a 2 month heads up before launching the network (no sudden release and no mining before release)
* Coins had no value for 1.5 years so they circulated freely (it’s not even possible for an altcoin to replicate this)
* Satoshi never cashed out (unlike every altcoin founder in history and I bet it stays that way for eternity)
By contrast, Ethereum launched with 12 million ETH for the developers, and 60 million ETH for sale as an “initial coin offering” during the presale.
Bitcoin is #1
All other cryptocurrencies only exist because of Bitcoin: Bitcoin enabled an instant global payment network and final settlement for other digital assets. If you own another cryptocurrency, there is a good chance you bought it with Bitcoin.
If you hear about any other project, it’s because of a marketer/promoter, whereas Bitcoin’s growth is organic.
Bitcoin is useful today