Every attempt to “improve” Bitcoin by creating another coin only serves to prove that Bitcoin’s value is as a secure store of value, thereby increasing its price as more people store their value in it.

If you peruse the various subreddits on the subject of crypto you'll see incredible frustration among the various communities behind other coins. Faster transactions, more transactions, larger blocks, faster blocks, turing completeness, confidential transactions – yet the price of bitcoin keeps going up without these.

Why?

Because bitcoin, at this stage in history, isn't about any of those things. Bitcoin is a system that can be used to reliably store value at no cost. Scarcity and security are the keys to value and you don't need any of those other features. And nobody has suggested any way at all to improve on these features of bitcoin.

So bitcoin keeps on winning on value and becomes the fastest growing way to store value. And of course, its value skyrockets as more value is crammed into it.

When the time comes to go from savings to spending, the competitive landscape will be very different. But you can't spend what you haven't earned and saved, and all of today's alternatives to bitcoin will have failed at earning the position of a savings vehicle.

submitted by /u/logical
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Bitcoin

Bitcoin Core is developing measures to protect your money from attacks like B2X, but they will only work if you run Bitcoin Core software (reddit.com)

The whole B2X attack is based on tricking wallets into thinking it is a valid chain. B2X intentionally removed all replay protection; it changed its code so that it would mimic the signals from core nodes and its collaborators intend to pass it off as bitcoin on their services. The core developers are creating countermeasures to ensure that core nodes continue to work on the peer to peer level. If you want to transact after the fork on the bitcoin blockchain run a bitcoin core node. If you…

Bitcoin

Bitcoin @ $1 – ‘Only good for libertarian neckbeards’ Bitcoin @ $10 – ‘Only good for druggies and darknet markets’ Bitcoin @ $100 – ‘The Gov are gonna shut it down’ Bitcoin @ $1000 – ‘Pump and dump on ETF rumours’ Bitcoin @ $5000 – ‘Deflationary currency will never work’

Wrong. Wrong. Wrong. Wrong. Wrong.

The goalposts forever move, honeybadger gives not one fuck.

submitted by /u/Essexal
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Bitcoin