Opinion | Bitcoin is enough, why do you need other coins?

After staying in the domestic currency circle for a long time, you will have the illusion that all the items in the currency circle will be issued to the final destination. Even if it is a wallet, market software, media platform, etc. that have nothing to do with the currency, it seems to be going to the currency at the end. This also makes many teams who don't want to send coins laugh and cry. 2 For example, IMtoken, from 17 years to now, is estimated to be asked no less than 100 times. "When are you sending money?"

Although, the person who asks may not understand the practical significance of the wallet application currency such as IMtoken.

However, I think that many people should regard the issue of money as a new financing method. If this is the case, then the logic of the currency can be made no matter what project is. After all, all projects need financing and listing. .

However, when Twitter CEO Jack Dorsey's currency branch Square responded to the question "Why don't you send money", a very classic sentence was answered:

“Bitcoin is the best, why do you want to send coins?”

In fact, the original words are: "The product we are focusing on is Bitcoin. It has been established and operated for more than 10 years, but there is still a lot of work to be done before large-scale adoption." – Steve

But you can understand this. In fact, Jack Dorsey's consistent concept has always been the most supportive bitcoin, but not the other seven seven eight eight.

He has a classic tweet to comment: "Bitcoin is flexible. Bitcoin is principled. Bitcoin is the ideal source of the Internet. This is a great brand."

Of course, bitcoin is the best and the most valuable cryptocurrency, so do we need other coins?

In fact, it is still needed.

Otherwise how to speculate? (laugh

In fact, "there is enough bitcoin, other currencies are cut off." This is widely recognized among the older generation and many loyal fans of Bitcoin. They don't like Ethereum and can't see it. EOS, defying BCH/BSV, not even seeing all the coins generated by IC0, in short, is – "non-family, its heart must be different."

In fact, if you agree with this statement, it is not a bad thing for the white cabbage. Buying only bitcoin, the results will not be bad in the long run, often outperforming most investment products is no problem, and the risk is much smaller than other currencies.

However, this statement is rather limited. Just like gold is so perfect in the past, everyone still needs silver and copper coins. Although the analogy is not necessarily accurate, it is true that there is only one currency in the world. It is impossible to have only one kind of encryption in the Internet age. currency. At present, there are still some unsolvable problems in Bitcoin, such as the fact that transactions cannot be reached in seconds, the handling fees are high, the price fluctuations are large, and it is impossible to be completely anonymous. This requires a better currency in a specific field to solve.

For example, we need a stable currency issued based on the blockchain to satisfy users who need stable currency prices. We need a PoS consensus mechanism to meet the needs of users who need to transfer money, and need anonymous currency to satisfy users who need extreme privacy. The birth of each kind of "serious" cryptocurrency was basically born to solve a certain problem of bitcoin.

Of course, this is not to say most of the IC0 coins that were born to swindle money. In fact, most of the coins currently on the market are born for the money. Just like the Internet bubble that shocked the world at the end of the 20th century, most companies are just speculating on the concept of the Internet, not really solving the market. Demand, and can not revolutionize people's way of life, at that time, most Internet stocks, like most of the current currency, are a tool for a small number of people to make a fortune.

But they have also spawned a bubble that attracted a lot of talent, money and users. Is it a good thing or a bad thing? Just like the people who circled the circle, the CX circle and the various circles and the funds entered the currency circle this year, it really brought back a lot of popularity to Bitcoin and other mainstream currencies. The better market also attracted a lot of attention outside the circle. Is this a good thing?

In fact, there are many things in the currency circle, or there are many things in this world that cannot be generalized. Everyone still has to look at the issue dialectically. It is not good to be black or white.

Author: William Chen