Showing posts with label cryptocurrency. Show all posts
Showing posts with label cryptocurrency. Show all posts

Bitcoin Not Crypto And Why It's Important To Make That Distinction

 On May 1st 2022 I wrote Not Your Keys Not Your Coin - It's Your Bitcoin so Truly Own It just before the collapse of crypto companies like: Celsius Network, Blockfi, Three Arrows Capital and later FTX where people lost all their bitcoins, I didn't know how bad they were rehypothecating their customers bitcoins, but I simply needed to look at the pass and understand the nature of these crypto scammers, leading me to today writing about "Bitcoin and Not Crypto". 

  Unfortunately, most people who comes to Bitcoin these days often think that Bitcoin is part of the "Crypto universe" that is baseless and constitute of an infinite number of scams without exception. But no, Bitcoin is living in its own economy based on real world energy and value for value payments and savings. It's important to make that distinction between Bitcoin and crypto, the 21Million hard cap decentralized timechain, that doesn't require you to trust any group of technocratic developers, validators, not even the miners that are doing the proof of work. Once you run your own Bitcoin node you couldn't care less about what somebody say or what a group of people say. Bitcoin is a bear asset(a property you can own, hold or move yourself). Which is the opposite of what all the cypto projects out there are, let me explain.

 Bitcoin put an end to the fiat money printing, crypto reintroduced the money printer by creating their own coins(money) out of nothing to scam the owners of those coins by dumping them on the market. What makes Bitcoin deferent is the fact that it requires real world energy, time and proof of work to be released out of circulation and nobody is in control of it nor in a priority advantage than others, but based on ground level competition for anybody with enough energy or computation power. This leads me to also say that Bitcoin is the real signal and everything else are noises., this chart says it all.

  But still, some people including myself at some point thought that I could outperform Bitcoin with a collection of these *shitcoins but no I took a huge lost and wish that I only staked to Bitcoin only instead of letting myself be scammed by those grifters, and I learned my lesson ever since. 

Conclusion, Here you have it, it is up to everybody to do their due diligence on finding out the real truth on these things including Bitcoin. Bitcoin is trustless no trust is required, run your own node just like it is important to hold your own private keys in multiple locations if you can. Crypto are scams that require a team of technocrats to infinitely upgrade and tweak their softwared to change their monetary policy to steal from the holders.

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