Jul. 04, 2021
Bitcoin's fair launch cannot ever be replicated by another cryptocurrency Bitcoin, the most secure and decentralized cryptocurrency, was created (in part) to be a store of value that can be sent/received anywhere/anytime without permission or trust of anyone else. Bitcoin’s narrative matches the real world utility. If you want to get technical, bitcoin is really a scarce tokenized derivative of inflation and corruption that's kept honest and secure by it's own decentralized ledger of value that can't be forged or hacked. To ensure that the launch was considered fair, Satoshi took careful steps to make sure that the world would look back and observe that bitcoin was launched fairly: - No pre-mine (Satoshi didn’t grant himself any coins). - Gave a 2 month heads up before launching the network (no sudden release and no mining before release). - Coins had no value for 1.5 years so they circulated freely (this cannot even be replicated). - Satoshi never cashed out (unlike every other founder in history and I bet it stays that way for eternity). Putting everything else about bitcoin aside, there will never be another cryptocurrency that is launched as fairly as bitcoin, for all of eternity, because bitcoin's fair launch cannot ever be replicated. Now that the genies out of the bottle and bitcoin is here, it's 100% impossible to ever have a cryptocurrency where the coins are circulating in the wild freely for 18 months before having any value. There's no "cryptocurrency" in the Western world, only crypto assets, and Bitcoin is the only one that matters as an asset.Canadian approval of the Ethereum ETF seemed premature, as it's not a fully complete crypto asset. Thus it hasn't proved itself against time. A Bitcoin ETF would take power away from crypto-exchanges that have these scam coins. Bitcoin is the only crypto- asset that can be seriously looked at, at this time. The space needs clear regulation for exchanges, therefore a safe way for investors to invest in Bitcoin would be an ETF. After the recent ban in China, it is coming to the US. Bitcoin is a technology that works as rails for electrical energy. It incentivizes usage of wasted and renewable energy, far from human settlement. The US wastes nearly 6,800TWh in electricity a year, Bitcoin uses around 189TWh a year. Bitcoin is the invention of the 21st century, but it needs a safe way for investors to invest. To ensure competitive and fair market dynamics, more than one ETF should be approved at once.