There is a lot of people getting on the Bitcoin Maximalism train these days.
A few years ago it was NFTs
A few years before that, there was umpteen-millions-zillion new coins, each one going to be bigger and faster than the last.
Today, bitcoin really seems to have set itself apart from the crowd.
Above all those other coins that are supposed to be used as a fiat replacement.
Is bitcoin going to be the only money coin here in the new future?
Right now, if fiat went away, it would be bitcoin and Monero.
But soon, bitcoin may adopt a privacy layer, or a privacy lightning network.
And then, it might be only bitcoin
There are paths were it could be only bitcoin, and there are paths were it will be a handful of coin.
Each one is slightly different, so there is room for them all to exist, but there is also laws of money saying the best one wins out. (and the rest disappear)
My best bet is that a handful of coins will continue to exist.
If they don't have a strong name / excellent recognition by the public, they will disappear into obscurity.
However, when people really start adopting cryptos, bitcoin will be seen as impossible to buy (imagine your house isn't even worth a full bitcoin) and so people go for the other name brands, like litecoin, bitcoin cash, dogecoin...
This is a big possibility, however, an even bigger one is that all these coins are directly interconnected. You can atomically swap any one to any other one. So, what would that do? Which would you buy?
It may not be a choice. Like, no one will trade bitcoin for any fiat. Maybe not even gold.
While the lower coins still have trade-ability because they aren't seen as so valuable.
ETH has lost it... it became too expensive to be used for what it was designed to be, a world wide computer. ERC-20 took it over. NFT cats brought it to its knees. And so, those people needing to use a world wide computer have moved to other platforms like ETC and now Theta.
Could bitcoin replace Ethereum? Maybe.
There definitely could be a world wide computer where the gas was bitcoin.
And it might happen if Ethereum shoots themselves in the foot a few more times.
But really, it looks like Ethereum will stick around, however, several competitors are making gains on their position.
There is a strong case to put all of your crypto holdings into bitcoin.
There is also a counter case to diversify.
If the other cryptos survive, they will go way up in price. Many more times than bitcoin, faster than bitcoin.
However, if you have an entire bitcoin, you will probably be set for life, and your kids' life.
At this point it really is a toss up.
The only real crypto in the good news is bitcoin.
But that is to be expected at the start of a new bear market.
I am not sure i can advise anyone one way or another.
And, for real, you are already in the crypto space way before anyone else.
Just your winnings from the awesome faucet freebitco.in will probably let you retire (on a long enough time scale)
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