Why Not Just Create another Bitcoin?

Bitcoin code is actually simple and easy to duplicate or fork all together. That's exactly what happened with Bitcoin Cash.

So why not just create another Bitcoin? What makes BTC so special, unique and almost inevitable.

Let's get to it.

No pre-mine

A pre-mine is creating and distributing a portion of a cryptocurrency's coins or tokens before the project officially launches to the public. It's typically done to reward early investors, developers, and the project's founders.

Ethereum introduced its first Ether as a pre-mined reward back in 2014 for supporters who funded the project during its initial coin offering (ICO).

When Ethereum officially launched in 2015, it had a pre-mine of 72 million ETH, which was allocated to the Ethereum Foundation and participants in the presale.

This results in the founders having a monopoly of of the token and direct governance over the project road map.

Bitcoin has no pre-mine making it perfect to be used as money.

A founder who leaves the project early and never sells

Who's the founder of gold, oil or any other commodity?

Right, something that is going to be used as money really shouldn't have a founder.

Satoshi has billions of dollars worth of Bitcoin now and has walked away from the BTC he mined when starting and securing the Bitcoin network and has never sold or moved those coins.

Ethereum?

🙃

Tens of thousands of nodes

All that a node is, is simply a computer that supports the Bitcoin network.

There are nodes located globally around the world

Nodes are critical for maintaining the network's decentralized infrastructure, enabling the transfer and validation of transactions, and ensuring the integrity of the blockchain.

Good luck starting a new Bitcoin that's actually decentralized.

50+ conferences per year & 1000+ Bitcoin podcasts

People come for the "number go up and to the right" and stay for the financial revolution. With Bitcoin there is organic, passionate support.

With BTC you have a community of millions valuing freedom and self sovereignty. The new American dream as far as I'm concerned.

People smarter than you are buying Bitcoin

Michael Saylor went to MIT, was a commissioned Air Force Officer and built Microstrategy into a billion dollar company. He predicted the mobile wave and as a technologist is able to see where the proverbial puck is going.

Robert Breedlove is only 39 years old but served a a c-suite executive as a CFO and has experience working in  corporate finance, international M&A, tax strategy, wealth management and of course Bitcoin.

He runs the very popular show "What is Money" and has stated he holds no stocks or bonds as he's never seen the market so manipulated and really only invests into Bitcoin.

Matthew Kratter helps millions of people understand how BTC is such a technological revolution through his Bitcoin University YouTube channel. He's a self made millionaire and has over 30 years experience with stock trading and has decided that going all in on Bitcoin is the best move..

700 million+ (and growing) tera hashes securing the network

Up and to the right.

Hashrate is the total computational power used to mine and process Bitcoin transactions. Think of it like the muscle power of the Bitcoin network, the higher the hashrate, the more secure and faster the network.

Why more secure exactly?

More hashrate means more miners are working to solve the complex math problems that validate transactions, making it exponentially harder for any one bad actor to hijack the network or double-spend coins.

Thousands of developers building on open protocols

These additional protocols are expanding Bitcoin's capabilities, trying to make it not just a store of value, a bank in the sky that none can touch or debase, but also a platform for more diverse applications.

The Lightning Network: A layer-2 protocol that enables faster and cheaper Bitcoin transactions off the main blockchain.

Taproot and Schnorr Signatures: Upgrades to the Bitcoin protocol for better privacy and efficiency in transactions, particularly for complex ones like those involving multiple signatures.

The Liquid Network: A sidechain for Bitcoin that provides faster, more private transactions and supports tokenized assets. It's like a sidekick to Bitcoin, handling the less glamorous tasks

Properties of money - perfected

I got this from Robert Breedlove who explained several key characteristics that make a good money and thus why Gold was previously adopted organically from the ground up and why Bitcoin is almost inevitable if I dare say.

Anyway, here's the rundown:

• Divisibility: Money should be easily divisible into smaller units without losing value, allowing for precise exchanges. Bitcoin can be divided down to eight decimal places (0.00000001 BTC) and if this is not good enough in the future, the Bitcoin code allows for BTC to be even more divisible. Think of it like a stock split.
• Durability: Money must withstand the test of time without degrading. Bitcoin, being digital, doesn't rust or wear out, offering perfect durability.
• Portability: Good money should be easy to carry, transport, and use. Bitcoin excels here with its digital nature, allowing it to be sent anywhere in the world almost instantly. You don't need to centralize it with a 3rd party and use paper notes like you do with Gold.
• Recognizability: Money should be easily identifiable to prevent counterfeiting. Bitcoin's public ledger, the blockchain, ensures every coin's authenticity can be verified.
• Scarcity: For something to hold value, it must be scarce. Bitcoin has a capped supply at 21 million coins is the invention of true scarcity.
• Hardness: Breedlove often emphasizes this property, which relates to how resistant a form of money is to increases in supply. Bitcoin is considered "hard money" because its supply cannot be easily manipulated, unlike fiat currencies.

Final words

I'll never say you need to be all in on Bitcoin, but having no Bitcoin is a mistake as far as I can see. So get some Bitcoin today.

Gemini 

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