Hello SatsMate Crew,
We are seeing the euphoria increasing as prices get higher in Bitcoin and crypto as a whole.
People naturally are drawn into the gains, and many people start to question why can't other coins flip or pass Bitcoin up. In today's podcast, I try to discuss these points and lay out why this isn't as viable.
-It happens every day when new projects come out
-The concept is pure, as with other coins, founders dump bags on retail
-Countless attempts to recreate Bitcoin
-Nobody stops you from creating your own, but who will follow?
-Out of the altcoins that have come, which ones have had good track records?
-Could it happen? Maybe - it's unlikely.
-Network effects are powerful, it's important though for Bitcoiners to continue learning about how to strengthen the base layer
The base layer is so important in Bitcoin, interesting developments over the past couple of years regarding ordinals
Overall nothing is new here! Now many projects will tout how they are AI-focused, how they are looking to change the world and change finance forever. In the end, these projects are often sold as snake oil. Anyone can copy Bitcoin code at any time, the big thing that Bitcoin has is the pure conception and the network effects on a bedrock foundation.
I'd love to hear your thoughts as well! Do you think there is a possibility that Bitcoin could be overtaken?
Best Regards,
SatsMates
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
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