Mike Novogratz: ‘If You Think of Bitcoin as a Finished Product, It Works’

Mike Novogratz: ‘If You Think of Bitcoin as a Finished Product, It Works’

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  1. i’d go even further to say that cryptocurrency, as in the thing that bitcoin invented, is a finished product. all these attempts to develop specialized cryptos for certain use cases are ultimately inferior cryptocurrencies underneath. and everything a shitcoin is doing right now can eventually be implemented in one way or another using a superior cryptocurrency under the hood. and so that’s what will eventually happen.

    it could take a while though because too many people are making good money from the fantasy of a bitcoin-killer. most of the people selling these dreams understand, but people don’t generally understand the dynamics of this new open source frontier, and can’t help but force their preconceptions about how market competition works onto the crypto world. it just seems natural to assume a new amazon or apple will come along and capture the market by enforcing a violent monopoly on their swath of newly claimed *intellectual* so-called *property*, as happens across the entire software industry especially today.

    that’s not to say it’s impossible or even unlikely that another crypto dominates along side or even replaces bitcoin. it’s just not anywhere near the likelihood that people generally assume. and i always have a slight caveat for privacy coins as representing a sort of radical gorilla faction of the crypto space for where censorship resistance and confiscation resistance isn’t enough against certain equally radical governments around the world who might kill or kidnap you for even having used a cryptocurrency.

What do you think?

Sylvain Saurel

Bitcoin Is an Accumulation Game. Start Then Never Stop To Buy. | by Sylvain Saurel | Oct, 2021

JP Morgan CEO Says Bitcoin ($BTC) is "Worthless," Here's Why he is Wrong Again

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