I recently shared an anecdote that a friend told me regarding a business 'strategy' that his 15 year old son carried out with his cryptocurrency portfolio, where he basically sold all the Bitcoins that his father gave him on his birthday to acquire Dogecoin, all based on the recommendations of his great Guru, the South African electric car billionaire. My friend told me almost dumbfounded that for a moment he thought of applying the Homer Simpson parenting technique, that is, grabbing his neck with his hands and squeezing it until logic comes out of his head, but then reflexively he told me: 'his punishment will be applied by time'.
My friend is right, experience is non-transferable and there is no worse punishment than being made to look foolish when you claim to be a financial genius from your smart phone. It is true that each generation tries to impose its values, those things we rely on for their positive action on us as individuals or part of a society. My generation was the biggest victim (and responsible) of fiat money attacks but it is also the one that gave the world the two most important inventions for the total liberation of humanity: blockchain technology and Bitcoin (BTC), the father of cryptocurrencies.
However, the new generations seem to forget the importance or rather the real value of BTC beyond its price, as they take possession of the various altcoins that to their young and innocent eyes seem more seductive than the inspiration of Satoshi Nakamoto. Hundreds of projects appear daily, most of them with the support of a community, strong technological companies or simply personalities from the business world; all of them promise to be the best technological option against the main cryptocurrencies, but so far none of them reaches the level of the pioneer.
Interestingly that same guy I was mentioning dared to criticize his father and anyone investing in BTC, the reason for his logic: 'bitcoin is old, it's outdated, it's the facebook of cryptocurrencies'. I don't know, my father always told me never argue with anyone dumber than you, you run the risk of falling to his level and the truth in front of the kid's analysis I just think that his immaturity, lack of experience and addiction to finance apps speak for him. But the problem behind this thinking is that it prevents him from seeing the reality of both cryptos and the economy they represent, inasmuch as to this day there is no project capable of acting as a version of gold and therefore as a valuable asset as powerful as the golden metal.
On the other hand, the fact that BTC collects at least 70% of the market capitalization of cryptocurrencies attests that no altcoin (including Ethereum) has the capacity to outperform the main digital currency. On the other hand none, from Ethereum to the last project on the capitalization list has the power to carry the entire weight of the cryptosphere on its shoulders. We all saw how with the last 50% drop that BTC registered, something really hard in any other economic scheme, it did not disturb at all the tranquility of the connoisseurs of this cryptocurrency, however, all altcoins collapsed and none of this one manifested a behavior that allows us to say that it is really an alternative.
Maybe in the future there will be another new or already existing cryptocurrency that will surpass Bitcoin, when that happens I will gladly join its ranks while I watch how at the same time our beloved BTC falls to zero, but because of its characteristics and especially its specific weight there is no other hero stronger and more perfect than our friend Bitcoin, the cryptocurrency that sustains the free world.