$BTC 🗣 Michael Sailor is right: why "release your token" doesn't make Bitcoin less valuable
Many people still use the argument: "Anyone can create a thousand new cryptocurrencies in a couple of minutes, which means that bitcoin has no unique value".
But Michael Sailor gave an iron analogy that puts everything in its place: it's the same as saying that it makes no sense to learn English, because anyone can come up with their own alphabet and new words right now.
Yes, anyone can create a set of sounds or a line of code. But the value of language is in its network effect. It is spoken by billions of people, books are written on it, contracts are concluded and the world economy is built.
It's exactly the same story with Bitcoin:
Network effect and trust: Decades of work, trillions of dollars of capitalization and institutional recognition do not appear with a snap of fingers.
Decentralization and security: No "joke token" or freshly released altcoin has a hash rate and reliability of the Bitcoin network.
Digital gold: While thousands of projects are fighting for short-term hype, Bitcoin plays the role of a basic trust protocol for the entire crypto market.
There will always be noise around the new coins. But the world standard of digital finance remains unchanged.
Many people still use the argument: "Anyone can create a thousand new cryptocurrencies in a couple of minutes, which means that bitcoin has no unique value".
But Michael Sailor gave an iron analogy that puts everything in its place: it's the same as saying that it makes no sense to learn English, because anyone can come up with their own alphabet and new words right now.
Yes, anyone can create a set of sounds or a line of code. But the value of language is in its network effect. It is spoken by billions of people, books are written on it, contracts are concluded and the world economy is built.
It's exactly the same story with Bitcoin:
Network effect and trust: Decades of work, trillions of dollars of capitalization and institutional recognition do not appear with a snap of fingers.
Decentralization and security: No "joke token" or freshly released altcoin has a hash rate and reliability of the Bitcoin network.
Digital gold: While thousands of projects are fighting for short-term hype, Bitcoin plays the role of a basic trust protocol for the entire crypto market.
There will always be noise around the new coins. But the world standard of digital finance remains unchanged.