Ridiculously good podcast, nothing compares
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“The only thing is that you guys should change for me is stop apologising for your guests stomping on Bitcoin.
There are some valid criticisms, and as a Bitcoiner, I like to hear them.
However instead of apologising you should get a serious but honest Bitcoiner on the Podcast, to discuss the various criticisms on Bitcoin.
Most of the criticisms are shallow and will be shot down on sight, but some are valid and should be talked about.
For example the point that Fred Hickey made about Bitcoin, that Altcoins have diluted Bitcoin is just not correct, I mean they did, but not really, once people understand how this market works, only Bitcoin will be seen as Hard Money, everything else will be ... something else.
Furthermore, in theory, Bitcoin can do all the stuff the other Coins do, it is just that for now, the focus has been on creating the Hardest Money in the history of Humanity.
About the Altcoins, there are few Altcoins in the same Universe as Bitcoin. These are the more serious Proof of Work coins with some decentralisation, which try to be Money, these are Monero, Litecoin and Bitcoin Cash.
Bitcoin Cash is falling apart as we speak, with a second fork splitting their network in 3. Their initial ideology was that Merchant adoption and Medium of Exchange was more important than Store of Value, Decentralisation and Censorship Resistance. While Bitcoin values all Monetary aspects equally, with a focus on decentralisation, because if we don’t focus on that it will become an easy target for adversaries (central banks, governments, corporations...).
Litecoin is basically the lite version of Bitcoin, the only upside there is that they can implement innovations faster than Bitcoin. Most of these innovations come from Bitcoin developers (like Segwit and Lightning). But because Litecoin is much less decentralised they can implement them before Bitcoin.
Still it is not the hard asset Bitcoin is, and most likely never will be, they can never get the number of Nodes, Miners and Quality Devs that Bitcoin has, not even talking about the Network Effect.
Finally there is Monero. Which is an honest project focusing on Privacy, which is very important, however, because of their focus they gave up large parts of auditability, Bitcoin will only have 21 million coins, with Monero we can’t be sure.
Next problem with Monero is centralisation and network effect, they only have a fraction of the users of Bitcoin, therefore if you use Monero, you automatically become a target. Finally Bitcoin is implementing Privacy features as we speak, and does have Privacy features already.
Bitcoin just doesn’t sacrifice the 21 million for Privacy.
So to conclude the list of Proof of Work, Hard Money coins, Bitcoin is the most decentralised, balanced Coin with the largest Network Effect by a very large, unsurmountable margin, compared to the other Proof of Work coins. Hard Money is a winner takes all race, where Bitcoin is for far ahead it is hard to see anything else catching up. It is like saying Silver will be the new Gold ... it just won't happen. Gold and Bitcoin will live next to eachother for a long time, but that is different discussion.
Everything else on CoinMarketCap are not Hard Money focused coins.
Ethereum is more like a corporation, and they are moving towards proof of stake. If they succeed, that would be good, because then it is clear they will never even have the smallest chance of competing with Bitcoin. They may do interesting things, but they behave like a stock on the Nasdaq.
Ripple/ XRP is not even a cryptocurrency it is a completely centralised company with a database, with unlimited supply of coins that they dump on the market on a regular basis. May they ever do something interesting? Perhaps, but iis a Company, not a decentralised Cryptocurrency.
Everything else down the list is hardly worth talking about and their properties and decentralization range between those of Ethereum and XRP. Can some of them be a good trade? Sure,in the short term but if you are a long term investor, not much so, it is a gamble, like in the Dotcom bubble.”Read full review »
Mentakh via Apple Podcasts ·
Belgium ·
12/21/20
More reviews of The Grant Williams Podcast
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“Grant is a fantastic thinker and great interviewer - as someone who works in markets this is one of my favourite podcasts.”
Ziggy Ryder via Apple Podcasts ·
Australia ·
06/26/20
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“Grant is able to draw upon an amazing network that spans decades enabling him get some amazing interviews. I like the debate that often occurs which results is a thorough exploration of issues instead of a shallow one sided perspective.”
Paulieeew via Apple Podcasts ·
United States of America ·
06/22/20
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“Proven time and again the best interviewer on the planet. He should be a clinic for MSM.”
CharlieandElwood via Apple Podcasts ·
Canada ·
07/06/20
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