Bitcoin Vs. Altcoins: Competition Or Complementarity?

Bitcoin and altcoins are not the same. Bitcoin was the first cryptocurrency created, and it is the most popular and used in the world. Altcoins are all cryptocurrencies that follow Bitcoin. Some have things that Bitcoin doesn’t have, like programs that run on their own, applications that don’t depend on anyone, or unique tokens. Some just want to be better than Bitcoin at something, like faster, more secure, or use less energy.

What will happen between Bitcoin and altcoins? Are they good or bad? It depends on your appearance. On the one hand, they are opposites. What is it about Bitcoin fans that they don’t want to share the stage with other cryptocurrencies? Could it be that they feel threatened by the competition or that they have a superiority complex? Whatever it is, the fact is that many of them consider the creation of altcoins a kind of “heresy”, a betrayal of the original spirit of Bitcoin. For them, Bitcoin should be the only and best.

Therefore, these fans often disqualify altcoins in the most derogatory terms possible, with pejorative adjectives such as “shitcoins”, “scamcoins” or “copycoins”. In their defense, altcoins aren’t that dismissive of Bitcoin. There is a certain reverence for Bitcoin because it is the father of all, the pioneer who paved the way for others. However, there is one or another character who trashes Bitcoin to promote their own projects. These characters are usually the creators or leaders of some altcoins, trying to get the attention and money of investors.

What can we learn from this situation? Well, in the world of cryptocurrencies, like any other, there are different opinions, interests and visions. And we must not be carried away by excesses, nor by fanaticism, nor by false promises. The best thing is to be well informed, analyze the advantages and disadvantages of each option, and make reasonable and responsible decisions.

Both sides want to get the attention and money of people who invest and use cryptocurrencies. And because there is not enough money, every time a person chooses a cryptocurrency, they leave another. For example, if you have $10,000 to invest in cryptocurrencies, and you put $6,000 in Bitcoin and $4,000 in altcoins, in theory, you get $4,000 from Bitcoin. So altcoins will eat a piece of the pie that could be everything for Bitcoin.

But, on the other hand, they are allies. Altcoins can not only compete with Bitcoin, but also complement it. By providing more options and variety, altcoins make the world of cryptocurrencies more interesting and lively, and that’s good for the entire sector, including Bitcoin. Additionally, many altcoins are inspired by Bitcoin technology and code, and share information and resources with Bitcoin creators. So, you can say that altcoins are like Bitcoin’s little brothers, competing with it, but also lending to it.

Put yourself in the shoes of fans of bitcoin maximalism. You have a project that wants to replace all the currencies in the world with a scarce currency. Like a gold standard. But there is a difference. In the past, the gold standard was imposed with the help of governments. Citizens have no choice. The State used force to enforce that standard. Now that is not the case.

The bitcoin pattern is a citizen project. It wants to be built voluntarily. But there is a problem. People started using other “metals”. That is, other cryptocurrencies. That will frustrate you. Because the use of other metals reduces the value of money. And it makes your project more difficult. what are you doing? In the past, the solution was to ban other metals. Governments do this. Now you can’t do that. So, the solution is to talk bad about other “metals” on social media. In other words, altcoins.

Doesn’t this contradict you? Isn’t it ironic? You say you defend freedom and decentralization. But you want everyone to use your money. And don’t let anyone try or invent other options. You seem to be afraid of something. That Bitcoin is not as good as you think. Or those altcoins have something that Bitcoin doesn’t offer. Maybe you need to be more flexible and respectful. And let’s face it, the world of cryptocurrencies is diverse and changing. And that there is no one truth. But there are many alternatives and opportunities. And that, in the end, the market chooses which coins are worth it and which are not. And, of course, we shouldn’t take ourselves too seriously. Don’t worry about what others think. Because, at the end of the day, it’s just money. Not religion.

Diversity is an advantage of the free market. Those who want a currency that controls the world don’t like it. But for the profit-seeking investor, diversification offers possibilities. You can choose between different options, take advantage of price changes and diversify your investments. Diversity encourages competition, creativity and innovation.

I prefer the chaos of diversity to the order of imposed dogma. I support plurality and the free market. May utopia be based on experience, convenience and pragmatism. Altcoins are an example of diversification. They are rivals and allies at the same time. It’s like a family that stays together, but sometimes they argue about some things. Like aunties challenging each other to see who can prepare the best dessert.

And you, what do you want? Bitcoin, which is “boring” and “predictable,” or altcoins, which are fun and surprising? Monopoly or competition? Control or freedom? Think carefully, because your decision will change your future. And be careful, the market is diverse, but it is not idle. There are scams and frauds. Not all that glitters is gold, nor is all that rises a good investment.

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