What Makes Bitcoin Different From Crypto

As someone who learned the importance of “Bitcoin-only” from the personal experience of getting rekt, I feel a determination and duty to ward off newcomers from other cryptocurrencies, which I believe to be outright scams at worst (or subtle ways for others to take your bitcoin, at best). In my experience leading meetups and teaching lessons about Bitcoin, I’ve found that many people, if not most, feel that bitcoin is boring or that some other cryptocurrency is better than bitcoin for various reasons.

The reasons are familiar to me. I, too, thought Bitcoin was slow and inefficient. I bought ETH before I even bought bitcoin. It wasn’t until I had spent hours and hours reading books, listening to podcasts, lurking on Twitter and perusing Bitcoin guides that I learned the value of Bitcoin, specifically, and why other cryptocurrencies are unnecessary and are most likely scams. But hundreds upon thousands of hours of studying to the point of obsession is not enough for people who are new to cryptocurrency and are sure [insert coin name] is different.

Oftentimes, I hear newcomers express excitement about some cute opportunity to collect 8-bit art that they think is unique or rare. The contrast between bitcoin and other cryptocurrencies does not hinge on the differences in their utility, but in the ethos of their users. Bitcoiners are here for a peaceful, monetary revolution to create a brand new society in a way that’s never been done before and without any rulers. Most people who are into cryptocurrency are here to mint some monkeys on a blockchain and make a quick buck. The more time one spends in the digital asset space, the easier it is to notice the major differences between the two groups.