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If it’s not Bitcoin, it’s a shitcoin. While Bitcoin stands as the only true innovation, shitcoins thrive on speculation and deception, making them risky investments.
If it’s not Bitcoin, it’s a shitcoin. It’s as simple as that, don’t let crypto marketing teams fool you. Bitcoin is the only innovation in the space, all the other so-called “virtual assets” are cheap copies of the real deal. Everything that makes them different just makes them worse. Plus, these projects pretend to be decentralized while always having a team behind them.
Creators can copy the main principles and fundamental design, but nobody will be able to replicate the network that Bitcoin created out of nowhere. Thousands of miners distributed worldwide, millions of users, passionate spokespersons who do it for the love of the game, nodes running for the sake of the network. It’s beautiful to see.
On the other hand, shitcoins’ valuations are speculation-based and they bank on the greater fool’s theory. Since the technological, philosophical, and social base needed to understand the innovation is so vast, the potential for scams is unmeasurable. So, chances are shitcoins will always be there in one form or another, waiting to relieve dupes of their money.
I would argue that, while you're correct, monero doesn't fit this description. There is no greater fools rug pull happening... And people actually USE it as cash. Versus bitcoin where people keep in exchanges, hold as investment, speculate, trade, etc etc... Monero is useful. XRP is not. XMR != XRP And I'm curious if the recent push against monero on SN is recent, our I only feel that way since I've just returned from an extended hiatus. Maybe the animosity towards monero was always there. But it's baffling as it doesn't resemble other shitcoins in nature or character, and in some ways, monerauts are more cypher punk than soft, day trading, NGU bitcoin maxis you see on X and nostr.
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The irony... Blink, that is pushing the biggest shitcoin ever existed (USD) in their wallet is talking now about how to avoid shitcoins...
But is a good article for newbies.
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