Anyone who deals with cryptocurrencies will sooner or later stumble across the term Shitcoins.
But why is Bitcoin actually the measure of all things and why are all other cryptocurrencies actually shit?
What are Shitcoins?
Shitcoins actually refers to altcoins, which are all cryptocurrencies except Bitcoin. There are more than 10,000 different Altcoins by now and more are being added every day. Bitcoin maximalists like to call altcoins shitcoins because only bitcoin is the real thing and altcoins are not needed from the bitcoiners’ point of view.
Why is Bitcoin better?
Bitcoin is the most popular and largest cryptocurrency by market capitalization. Bitcoin was created by Satoshi Nakamoto, which it is still unclear who that is.
There is no company behind Bitcoin, as is the case with other currencies. Bitcoin is the only truly decentralized currency that cannot be manipulated or even hacked due to its size. Shitcoins, on the other hand, are created by companies looking to get rich quickly by issuing coins.
Bitcoin is better than digital gold and the perfect store of value, this cannot be disputed. If you want to protect your capital and think long-term, you will put your money in Bitcoin. All other coins are highly speculative. Bitcoin will still exist in 10, 20, 50 or 100 years. However, this is highly doubtful for Shiba Inu or Dogecoin.
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