Seeing through everything, only Bitcoin remains.
Besides Bitcoin, I do not hold any other digital coins. But I also won’t criticize any coins because no coin has ever succeeded by blackening another coin.
I believe Bitcoin only needs to focus on itself and does not need to care about others. But I also do not believe that all other coins are worthless; on the contrary, many have their own value, but Bitcoin simply has more value.
I've sold all my forked coins of Bitcoin. Some people promote a so-called 1:1 holding, which is actually a lack of confidence or a reflection of their values. The value systems of forked coins fundamentally conflict with Bitcoin; a person who has confidence in Bitcoin and aligns their actions with their beliefs cannot hold both at the same time.
However, I also do not oppose anyone holding any coins, even MLM coins.
Bitcoin is the strongest.
For a long-term coin holder, there is actually only one concern: will the coins I hold survive 10-20 years later?
In fact, the answer is already very clear: Bitcoin has the highest chance of survival because it is the most decentralized, has the strongest network, the safest system, and the simplest functions. This does not mean Bitcoin will definitely survive for another 10-20 years, but if Bitcoin cannot survive for another 10-20 years, other coins have even less chance.
Some people promote altcoins, comparing buying altcoins to buying insurance for Bitcoin, which is completely incorrect. If Bitcoin fails, altcoins will only die faster. For altcoins to survive, they must first pray that Bitcoin can survive.
In other words, the reason everyone still has the opportunity to issue various altcoins today is that countries have not yet found a way to eliminate Bitcoin. If they can't take down the leader, it is not worth taking down the smaller players, which is why the smaller players still exist. Once countries find a way to attack Bitcoin, do you think the coins you issue can survive? Issuing private currencies is a sure way to doom.
Since it is a long-term accumulation of coins, you must choose the one with the strongest resilience.
Bitcoin has the largest vision.
Digital coins on the market can be divided into two main categories based on function: one is represented by Bitcoin as currency; the other is represented by Ethereum as applications. In fact, currency is also an application and is the largest application, and there is no other.
These two types of visions have essential differences; the vision for currency far exceeds that of application types.
In previous articles, I have discussed multiple times that Bitcoin's goal is to become the preferred choice for human value storage. Value storage itself is the largest application in the world, a universal need inherent in everyone; when we earn money, we inevitably need to store it in some way, and value storage is an absolute necessity. Regarding the total scale of value storage, we have also analyzed that the current global market value is 134 trillion USD.
How large can the scale of blockchain applications ultimately be? Most blockchain application-type coins are more like stocks. Simply put, the founder needs to do something, requires financing, and hopes everyone will invest. Regardless of whether these projects are worth investing in, even if they surpass Apple and Amazon, it will only be a scale of 1 trillion.
Therefore, in terms of vision, the value storage market is at least 100 times larger than blockchain applications.
Bitcoin will be a winner-takes-all.
Next, let’s analyze the development trends of the two types of digital coins.
In the field of currency, Bitcoin will inevitably be a winner-takes-all. For currency, having only one surviving currency is the lowest overall cost and the most efficient. Currency is a measure, and the more types there are, the more chaotic it becomes; hence, after the unification of the six states by Qin Shi Huang, he aimed to standardize weights and measures.
If I require payment in Bitcoin, and you only accept Litecoin, then we need to exchange it through an exchange during our transaction. This actually reduces efficiency. Therefore, the future of currency must be winner-takes-all.
Due to Bitcoin's significant lead in decentralization and security, it attracts a large number of excellent developers and steadfast value storage users. Other currency-like digital coins have already lost the potential to turn the tables.
However, it is also impossible for Bitcoin to completely eliminate other coins, as many coins have their own value.
On one hand, they can pave the way for Bitcoin. For example, the activation of Bitcoin Segregated Witness was possible thanks to Litecoin activating it first, proving that Segregated Witness is safe, debunking long-term lies from certain malicious individuals.
On the other hand, they can also be used for functional testing. Some high-risk functions can be tested on other coins first. However, if sidechains emerge, this testing task will shift to the sidechains.
Therefore, I predict that in the future, 3-5 types of currency-like digital currencies will survive, but the total of other coins may only be a fraction of Bitcoin. Thus, holding Bitcoin is sufficient because it is difficult to determine which other coins will survive. The position of Litecoin is also precarious.
Application types will flourish in abundance.
Application types are different; they will likely see a flourishing situation. Today you propose a 2.0, tomorrow someone else will come up with a 3.0, and the day after someone will definitely create a 4.0, so rest assured.
The concept of doing 2.0 applications was initially proposed by BTS; may I ask where it is now? Doing applications demands speed, scale, and entertainment, and this requirement for technology is endless.
To make it easier for everyone to understand, I will give a potentially inappropriate analogy. Apple needs to constantly update and innovate to maintain its leading position, but gold only needs to remain stable to still be gold.
The function of currency is actually better with fewer features. We can imagine, if we added a contract signing function to paper money, opened a blank area for you to leave messages and draw, or included a game for your entertainment, would you consider that innovation? Clearly not. You would likely think it is ostentatious and unnecessary. Ultimately, people will choose the 'clean' currency, and Bitcoin is that clean currency.
Since that's the case, can we not play with other coins?
Of course not. Can everyone only invest in gold and not in a company's stocks? If you catch a certain potential original stock, you can also achieve returns in multiples.
Why don't I invest in any other coins?
I am deeply attracted to the vision of Bitcoin; it will be a winner-takes-all, and its resilience is unmatched. Those messy coins do not impress me with their vision, and I will not act against my conscience. I won't buy Chinese medicine stocks just to make money when I clearly don't like traditional Chinese medicine.
Moreover, I have no need to invest in other coins. When holding only Bitcoin can achieve financial freedom, there is no need to waste time fiddling with other coins. The biggest cost of investment is actually the time and effort invested. Moreover, most people end up playing with fewer and fewer Bitcoins, including Li Xiaolai; it is truly time-consuming and labor-intensive with losses, so why bother?
Again, think about it: if the stock you chose skyrockets, what will you do? Many people will choose to cash out and convert to currency. So what is the base currency in the coin circle? Undoubtedly, it is Bitcoin.
Therefore, I don't need to speculate in messy coins to enjoy the benefits. Because whether others lose or gain in speculation, their real money will ultimately flow to Bitcoin. The more money you make, the greater your demand for value storage. The more money you lose, the greater the demand for value storage from the person who profited from you. In any case, I just need to wait.
Why don't I oppose others playing with other coins?
I even do not oppose anyone issuing coins, nor do I oppose anyone playing with MLM coins. Because I am a liberal, I believe that morality is meant to restrain oneself, not to attack others.
Even if you are completely pessimistic about Bitcoin, I support you in staying away from Bitcoin and buying coins you believe in. The core value of Bitcoin not only respects the freedom of personal wealth but also respects the freedom of personal choices. My values completely align with it.
In a completely free world, everyone should be responsible for their actions.
If a girl insists on dating a scumbag, you usually cannot dissuade her. If you push too hard, she might even suspect your intentions. Only after she suffers a loss will she possibly gain wisdom.
Of course, there is also a possibility of another outcome—she develops Stockholm syndrome and falls deeply in love with the scumbag who deceived her.
Regardless of the outcome, all you can do is: wish her happiness!
Moreover, you will eventually understand—granting someone freedom, even if she goes astray and gets hurt, is still the greatest respect you can give her.