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Altcoins Cannot Compete With Bitcoin

Bitcoin is a technology, sure it is but is it a revolution in the financial industry or not? This is the question that matters the most, and the answer to the question is that it is all relative to the viewpoints of the observer, just like the theory of relativity explained by Einstein. Financial institutions and people associated with the fiat world don’t believe bitcoin to be a revolution at all; in fact, for them, it is a step to the back. For those who didn’t have access to any bank account or any other financial service for that matter due to the tight rings of the financial prejudice and rankings of the wealth and those who have it, bitcoin indeed is a revolution.

A report published by the bitcoin magazine Bitcoin is an entity that is scarce, and at the same time, it isn’t; no single entity or organization or a global capacity has any influence over Bitcoin. It is free from all these political and influential ties, and this right here is a superpower of cryptocurrency. To be honest, it can be regulated, sure, but it can’t be funnelled down into a specific category or being only approached by the rich or people with influence; the fiat currency might work like that but not Bitcoin. 

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Bitcoin Is Apolitical

You can transfer bitcoin from one person to another or from one location to another for a minimal fee that is put right there for the sake of protecting the integrity of the blockchain that runs the Bitcoin. Altcoins, on the other hand, are nothing like Bitcoin, these bring only a few technological specifics that can be taken as a solution to some of the advanced fiat currency problems, but nothing more than that, it is bitcoin that brings value to the crypto market and these emerge from Bitcoin because these share the same interactive technology on which Bitcoin is built.  Bitcoin is apolitical, while the same can’t be said for other altcoins where every single token has the political or influential support of one or many influencers out there. That is the main reason that Bitcoin has no competition among other cryptocurrencies and is a unique token through and through.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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