As you do this, one suggestion, please see if you can analyze altcoins in the context of a specific use case.
I think there are at least 3 different ones in the overall space.
1. Digital gold. A long term store of value, inflation hedge, impossible , or at least very hard, to confiscate. Bitcoin is a clear winner, at least in my view, due to decentralization, network effect, etc.
2. Daily payment rails, like, to buy a coffee. This is where speed and fees matter a lot. Enter lightning, but here we compete with fiat payment rails that work pretty good, to be honest, in my view, at least in the developed world, like paypass, Visa, revolut, cash app, I can do transactions instantly and for free... But no privacy and "they" can block me if they want.
Privacy is another dimension here. Actually also in the digital gold use case, because ideally we don't want dystopian powers to even know we have Bitcoin, right?
3. Smart contracts. Here we enter things like etherum, Solana, etc. and capabilities like DAO, decentralized exchanges, or even these digital receipts for paying for images, however they call them. This is what Bitcoin was probably never even designed or intended to be used for, but still people try.
So, not sure if it helps, but I felt like sharing.
I think that, if we compare Bitcoin with other coins, it will be good to say compare for what, what use case
Good luck with your research.
bitcoiner7 nym
npub13q…t55wf
2024-01-02 08:00:05
in reply to nevent1q…uzch
Author Public Key
npub13qmz34g8fpkhpavfsx6wq00u4nhu28w5aa787r05q3f6zkpj9jzqtt55wfPublished at
2024-01-02 08:00:05Event JSON
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"content": "As you do this, one suggestion, please see if you can analyze altcoins in the context of a specific use case.\n\nI think there are at least 3 different ones in the overall space.\n\n1. Digital gold. A long term store of value, inflation hedge, impossible , or at least very hard, to confiscate. Bitcoin is a clear winner, at least in my view, due to decentralization, network effect, etc. \n\n2. Daily payment rails, like, to buy a coffee. This is where speed and fees matter a lot. Enter lightning, but here we compete with fiat payment rails that work pretty good, to be honest, in my view, at least in the developed world, like paypass, Visa, revolut, cash app, I can do transactions instantly and for free... But no privacy and \"they\" can block me if they want. \n\nPrivacy is another dimension here. Actually also in the digital gold use case, because ideally we don't want dystopian powers to even know we have Bitcoin, right?\n\n3. Smart contracts. Here we enter things like etherum, Solana, etc. and capabilities like DAO, decentralized exchanges, or even these digital receipts for paying for images, however they call them. This is what Bitcoin was probably never even designed or intended to be used for, but still people try.\n\nSo, not sure if it helps, but I felt like sharing. \n\nI think that, if we compare Bitcoin with other coins, it will be good to say compare for what, what use case \n\nGood luck with your research. \n\n\n",
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