In the ever-evolving landscape of cryptocurrencies, Bitcoin stands as the granddaddy, the pioneer, the trailblazer. But let's get one thing straight, Bitcoin may be the first of its kind, but that doesn't necessarily make it the best. It's like comparing a brand-new Corvette to Henry Ford's first Model A – sure, the Model A has historical significance, but it's no match for the sleek power of a modern sports car. Yet, somewhere out there, you'll find some die-hard fans who insist that the Model A is superior, even from a mechanical perspective.
Bitcoin vs. Cryptocurrency's Poster Boy
To clarify, Bitcoin is the original blockchain technology, and the coin that represents it is called Bitcoin, abbreviated as $BTC. Other cryptocurrencies that use Bitcoin's blockchain technology are known as "forks," and they have their own unique tokens. These tokens are essentially offshoots that utilize the same underlying blockchain technology. In tech lingo, they're also referred to as "Layer 1's" and "Layer 2" solutions, with Layer 1 being the foundational technology and Layer 2 building on top of it. We've even delved into Layer 0's, Layer 3's, and Layer 4's – it's a layered world out there.
Bitcoin: Beyond the Symbol BTC
When people hear "Bitcoin," they often think of that pricey crypto with the symbol BTC. What they might not realize is that Bitcoin is a "1st generation blockchain technology," and there are other cryptos or "forks" that use Bitcoin technology. There's a world beyond BTC, and currently, there are better opportunities for return on investment (ROI) within these Bitcoin forks.
The ROI Reality
Here's the kicker: unless you're playing with substantial sums, Bitcoin isn't going to be your golden ticket. To double your $100 or $1000 of Bitcoin, the current price of one Bitcoin has to double. It's a waiting game, and for the average investor, there are often more lucrative opportunities elsewhere.
The "Digital Gold" Myth
The common narrative equating Bitcoin to "digital gold" only arises because, historically, when the price of physical gold goes up, Bitcoin tends to go in the opposite direction. Those who champion Bitcoin would love to change this dynamic. The truth is, Bitcoin is a very expensive asset with virtually no utility as a currency. Its value is primarily derived from the large institutions, governments, and whales who own and hoard it. When you convert your dollars into Bitcoin, you bid adieu to your dollars.
The "Appreciating Digital Property" Label
Another popular narrative paints Bitcoin as an "appreciating digital property." You're encouraged to buy and HODL (Hold on for dear life) because it's projected to be worth a staggering $1,000,000. While this might sound like a golden opportunity, let's break it down. If you invested $100 in Bitcoin when it was around $42,000, it would need to skyrocket to approximately $417 million per coin for you to reach a million. In simpler terms, a modest investment in Bitcoin won't make you rich anymore.
Bitcoin's Role in the Quantum Financial System
Now, let's give credit where it's due. Bitcoin played a vital role as the trailblazer, and it still holds significance as we transition into the Quantum Financial System. As countries embark on creating centralized digital currencies backed by real-world commodities, Bitcoin will play a role. However, it might not be the best choice for individual investors. Unless you've "wrapped" your Bitcoin in a liquidity pool or staked it in some manner, you're essentially at the mercy of price fluctuations.
Bitcoin Cash: A Practical Alternative
If making money is your primary goal and you're set on investing in Bitcoin, consider "Bitcoin Cash" or $BCH. It's a "fork" designed from the start to function as a currency. At the moment, it's significantly undervalued, presenting the opportunity to achieve what Bitcoin has already done – 10X to 1000X your initial investment over time.
Bitcoin SV: The True Vision
Bitcoin SV is marketed as the original Bitcoin, the purest interpretation of Satoshi Nakamoto's Whitepapers. Some argue that the current version of Bitcoin is a distorted version within a manipulated market, a point that's hard to refute. (For more on Bitcoin SV, check out BitcoinSV.com, where it's marketed as the "Original Bitcoin.")
The Whales and the Game of Capital
Here's a stark reality: 87% of the total circulating supply of Bitcoin is controlled by crypto whales. This is a game that requires substantial capital, and it's one you can't easily play unless you have at least 10 Bitcoins.
2,041 addresses hold between 1,000 & 10,000 Bitcoins, totaling 5.3 million BTC.
13,591 addresses hold between 100 & 1,000 Bitcoins, totaling 3.9 million BTC.
129,849 addresses hold between 10 and 100 Bitcoins, totaling almost 4.2 million BTC.
In conclusion, Bitcoin may have paved the way, but it's not the ultimate destination for wealth accumulation. With alternatives like Bitcoin Cash and Bitcoin SV on the table, it's worth considering where you place your investments. The world of cryptocurrency is vast, and while Bitcoin has made millionaires, the potential for making billionaires and trillionaires lies elsewhere. So, don't let the allure of Bitcoin's name overshadow other lucrative opportunities that are ripe for exploration.
(The above is an excerpt from Anthony Galima's unpublished "cryptocurrency book." If you like the content, show your support and BUY on Amazon: "The Making and Unmaking of the Modern World." That is the ONE BOOK you really must read if you want to position yourself for "Generational Wealth" within this ever-so small window we ALL have before the globe transitions to the Quantum Financial System. The problem is: you do not have access to information that will empower you to make educated decisions. The narratives you are being told and news, to the social media influencers are not telling you what is in your best interest.)