Free tip from BTC News: listen and view as many keynotes and Q & As from Andreas Antonopoulos as possible. He is the author of Mastering Bitcoin and Antonopoulos is seen as a real authority in bitcoin.
In his last speech, he responded to the desire of investors to find the new bitcoin. He has seen enough “shitcoins” with the promise to be the next bitcoin, who cannot make this happen.
The new improved bitcoin
Bitcoin is a special cryptocurrency. The first of its kind and actually still the only one that is truly decentralized and without a company. The coin has many features that people are looking for, which is why bitcoin is by far the most popular cryptocurrency.
This ensures that many people and companies claim to have a new, improved bitcoin, in order to benefit from the success.
And many of these coins have worked out certain properties of bitcoin better than bitcoin itself. Consider better scalability, or more user-friendliness.
Not found suitable
But this is at the expense of other properties and if it deviates too far from bitcoin, the coin is not suitable for the crypto world, says Antonopoulos:
“So how much does the new thing have to differentiate? Well, that is the real challenge, because if it distinguishes itself sufficiently, if it is different enough than bitcoin, then it takes on another niche. ”
Ethereum is a successful example
He finds Ethereum a successful example. Ether is in many ways really different from bitcoin and dominates a niche, Antonopoulos: “The market for smart contracts based on virtual machines is firmly occupied by Ethereum.”
Only if bitcoin or Ethereum itself fails
New, better solutions are being devised and it is expected that this will push Bitcoin or Ethereum off the throne. This will only work if Bitcoin or Ethereum itself completely fails. “Small hacks and bans would make no difference to bitcoin, because the only way the king’s currency could fail is because of a critical vulnerability that nobody could solve.”
Antonopoulos also commented on the entry of JP Morgan and Facebook’s in the world of crypto:
“It’s not enough to say as Facebook or JP Morgan: Hey, we also participate in cryptocurrency. No that is not possible. Not enough.”
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