Bitcoin Is A Movement For Financial Freedom. Cryptocurrency Is Not
Bitcoin as a peer-to-peer financial system and its ideology of financial freedom make a stronger case than the claims of other cryptocurrencies.
Cryptocurrency’s rise to mainstream pop-culture phenomenon has certainly transformed the overall blockchain ecosystem for the better; more people than ever before are actively participating and aware of the technology, institutions once rejecting cryptocurrency are investing millions of dollars in it and even “old-money” strongholds such as J.P. Morgan and Goldman Sachs are publishing reports on the performance of various digital assets.
Yet, the mainstream acceptance of blockchain technology has also brought with it some negatives. While the initial growth of the space in 2017 was centered around bitcoin (it was the first time that a lot of individuals, including myself, learned about bitcoin), recent growth has been more centered around alternative platforms. Although bitcoin has certainly appreciated in value over the past two years, it has almost become taken for granted within the broader cryptocurrency community.
Cryptocurrency influencers, and the media at large, seems to be more focused on the next dog-themed coin or the next rollout of ape-based non fungible tokens (NFTs). Cryptocurrency-focused social groups, such as community subreddits, often focus on sub-assets and decentralized applications (DApps) built on other platforms. To them, bitcoin is boring; a great proof of concept for blockchain technology, but nothing more. This is made all the more evident by the tendency for most to compare bitcoin with gold; while it is a plausible, and even sometimes accurate comparison, it paints bitcoin as a simple financial asset, something to hold and forget about.
This is in contrast to platforms such as Ethereum and its subchains, which are seen as innovative marvels much like a “tech” stock on the New York Stock Exchange. Thus, for those of us looking to expand bitcoin’s ideas by educating others about them, the question we often have to answer is: Why Bitcoin?
(Source) Bitcoin is often compared to gold, but it is a little more than that …
There are certainly two camps in the pro-Bitcoin community: those who believe that the best way for Bitcoin to compete with other networks is to expand its smart contract and decentralized finance (DeFi) capabilities, and those that believe that Bitcoin’s purpose is beyond that of other cryptocurrencies. In fact, Guillaume Girard recently wrote
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