31 sats \ 0 replies \ @Coinosphere 27 May 2023 \ on: What finally got you to be Bitcoin-only? bitcoin
I came to bitcoin just before the first altcoins were created in 2011, stupidly thinking when they arrived that altcoins would be the death of bitcoin because they'd compete and be better since they'd learn from bitcoin's open-sourced mistakes. - Thankfully it became pretty clear pretty quickly that Proof of Work competitors simply couldn't steal bitcoin's miners away from it and I was very relieved and stacked more.
Proof of Stake never scared me in any way; it was always just a (poor) re-creation of fiat, never well decentralized, so I stayed away from all of those coins too. I was a maxi by default, not seeing any competition for years and years.
In early 2017, before the block size war, there was an explosion of many interesting shitcoins attached to a project I wanted to see come to life, like decentralized versions of youtube, cloud storage, browsing, search, metaverse, and IoT. They made me drool over their promised projects, but their crapcoins were so obviously shoehorned in for the developer's personal gain that I was suspicious. So that year I read up on how money actually works and came to understand what makes bitcoin truly special.
I did get a chance to play with a few alts that year, but never stopped being a maximalist for even a second; they were like toys that were easily discarded, never a decent store of value.
Then came the block size war; anything I didn't already know about bitcoin's superior monetary features was learned in spades watching the daily battles and upgrading my node. By the time we were activating UASF I was toxic enough to set the atmosphere on fire. Definitely lost a good chunk of crypto buddies back then.
I've dialed back the toxicity since then, but the resolve remains. You're not exactly dead to me if you choose to hold altcoins, but I'll feel sorry for you and certainly won't trust your judgement on anything financial in nature.