I agree with this. I have said it's the only crypto worth participating in because it's the only crypto that originated for idealistic reasons.
In that capacity it is similar to gold, which in the Golden Age (something everybody talked about in Antiquity and I decided to believe, but I've never encountered anybody else believing in) was openly swapped around as little inventions (you can make all kinds of shit with gold, it's a miracle material, lubricant, any precision, single isotope, list goes on endlessly) and gifts, but then some assholes decided to start hoarding it and enslaving people to mine it, charging interest using it, weigh one gold gift against another saying they balance out, use it to pay for wars to amass more gold. And it became something we just hoard underground. In other cultures it's this stuff, like Kechwa (Inca) it was about worshipping the sun and sure enough it basically is the sweat from the sun because it only is created by stars in supernovas. Idealistic in its origin.
Except in satellites, in satellites it's used for all kinds of shit, the foil for reentry (silver and gold, but only the gold resisted reentry), as lubricant, for welding (4:1 gold to tin), for the electronics of course, as a conductor in some cases so wire, heat foil. And medicine, so dentistry a huge amount but also implants, gold-titanium alloys. And injections for rheumatism in a chemical composition. And anything that must not rust, the go-to is gold.
So all the other coins? They're shitcoins. There is only Bitcoin, everyone else just wanted to get rich quick. Satoshi never cashed out, I divine he committed suicide in 2015 embarrassed not by its success but in how much he owned by being the first to mine it. It was the only crypto that didn't get pre-mined, but he didn't get other people on board fast enough to avoid owning tons of it. So Lycurgus, too, he made the laws of Sparta so they would never be slaves in response to the end of the Golden Age and the constant threat of conquest--basically successful--but was embarrassed of benefitting by then becoming king, so he said "don't change the laws til I return" and left, and starved himself to die. And many say he never existed. Just like many say Satoshi never existed.
It's ironic for a comment about Bitcoin to call people assholes for hoarding. Cryptocurrency is all about making a system which works because people act in their self-interest. If they wanted people to use it and not hoard it, they should've made it easier to spend, or harder to hoard, i.e. inflationary.
Hoarding is about intent, different from saving. Acaparar in Spanish. To take up all there is for yourself, so others have nothing and suffer in need. Whereas saving is sacrifice, so someday there can be something to give in an exceptional situation. Or in an exceptional opportunity, as in investment, but this is secondary, because the purpose of this secondary interpretation is subjugated to the primary interpretation, to eg invest to get a good return to at some point rescue an orphaned grandchild.
A fixed block subsidy, i.e. purely linear emission, is disinflationary, rather than inflationary, with the yearly supply inflation after n years at 1/n. That is large enough to deter speculation for several decades at least.
Monero had no pre-mine either, and addresses the bitcoin privacy gaps. Most cryptos are obviously get rich quick schemes, I don't think it means you should immediately discard every other token.
Well that speaks well of Monero, perhaps that is exceptional, apparently not...
I was wrong in discarding them. I would, in addition to apologizing, salvage my claim in the following terms: bitcoin is the gold standard, the first and foremost, just as every metal is unique and gold is gold and nothing else identical. But there can also be silver, and platinum, and rhenium, and ruthenium, and rhodium, and copper, and many others. Bitcoin was the first, and is unique, but is not the last.
The dude in charge looks absolutely ridiculous -- but this is why I'm very interested in Richard Heart and his Hex / Pulse stuff.
If you "game theory" him out, I believe he adds up to being in crypto for idealistic reasons as well, despite the appearance of the methods he's using to get there.
In that capacity it is similar to gold, which in the Golden Age (something everybody talked about in Antiquity and I decided to believe, but I've never encountered anybody else believing in) was openly swapped around as little inventions (you can make all kinds of shit with gold, it's a miracle material, lubricant, any precision, single isotope, list goes on endlessly) and gifts, but then some assholes decided to start hoarding it and enslaving people to mine it, charging interest using it, weigh one gold gift against another saying they balance out, use it to pay for wars to amass more gold. And it became something we just hoard underground. In other cultures it's this stuff, like Kechwa (Inca) it was about worshipping the sun and sure enough it basically is the sweat from the sun because it only is created by stars in supernovas. Idealistic in its origin.
Except in satellites, in satellites it's used for all kinds of shit, the foil for reentry (silver and gold, but only the gold resisted reentry), as lubricant, for welding (4:1 gold to tin), for the electronics of course, as a conductor in some cases so wire, heat foil. And medicine, so dentistry a huge amount but also implants, gold-titanium alloys. And injections for rheumatism in a chemical composition. And anything that must not rust, the go-to is gold.
So all the other coins? They're shitcoins. There is only Bitcoin, everyone else just wanted to get rich quick. Satoshi never cashed out, I divine he committed suicide in 2015 embarrassed not by its success but in how much he owned by being the first to mine it. It was the only crypto that didn't get pre-mined, but he didn't get other people on board fast enough to avoid owning tons of it. So Lycurgus, too, he made the laws of Sparta so they would never be slaves in response to the end of the Golden Age and the constant threat of conquest--basically successful--but was embarrassed of benefitting by then becoming king, so he said "don't change the laws til I return" and left, and starved himself to die. And many say he never existed. Just like many say Satoshi never existed.