With Bitcoin constantly in the news because of the astronomical increases in price, more and more people are looking to invest in it. Typically, when someone decides to buy Bitcoin, they sign up for an account at a cryptocurrency exchange. Upon doing so, they are confronted with other cryptocurrency options that the particular exchange offers.
The next thing that becomes apparent to the new investor is that all of the other cryptocurrencies are much cheaper than Bitcoin. This can lead to the decision to buy one of the cheaper alternatives (altcoins). The logic being that they can buy more of it and maybe even get in on the ground floor of the 'next Bitcoin'.
In my opinion, this is a mistake. Remember, as I wrote yesterday, You Can Buy Part of a Bitcoin. Owning part of a Bitcoin is preferable to having a whole altcoin, or multiple altcoins for that matter. Altcoins will come and go, rise and fall, however, Bitcoin is here for the long term.
This is not a situation where Bitcoin could be the 'MySpace' waiting for a 'Facebook' to take over as the market leader. Bitcoin is better compared to the internet itself. It is the technology around which the future of cryptocurrency will be built. Bitcoin is a truly decentralized, limited supply, non-freezable, non-confiscatable store of value, that also enables permissionless transfer of value.
Bitcoin or Litecoin?
Bitcoin or Bitcoin Cash?
Bitcoin or Ethereum?
Bitcoin or Monero?
Bitcoin or Dash?
Bitcoin or ...?
For me, the answer is Bitcoin.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
Like what you've read?
Please consider leaving a tip in Bitcoin or Bitcoin Rhodium using the QR codes above or the addresses below.