MISC Crypto Crew (MCC) Vol: XII: Retirement plans and exit scams

[YungSodomy]

Lol Walton coin a secure future store of wealth.

What a time to be alive.

[juvefan]

Its Chinese bro, it will not make you anything EVER, apart from scam you for money, which it has already done, like 95% of Chinese companies that target the west.

NEO
VEN
WTC
TRON


What do they all have in common? All fkn scams

Tbf most crypto projects if not all are scams, they dont have to be chinese to be scams

[johnnycash123]

Lol Walton coin a secure future store of wealth.

What a time to be alive.

Its actually got state of the art RFID chips connected to the walton chain. Just wait to LV uses it in China to identify fake goods.

[manjay]

Tbf most crypto projects if not all are scams, they dont have to be chinese to be scams

This, wtc is as legit as any crypto project to be fair.

-only chinese project invited to china's great hall earlier in the year to talk blockchain regs.
-first korean blockchain institute standardised by govt education dept (first grads in feb next yr).
-attends china govt regulation session (with matrix ai). No other public chinese blockchains invited as far as i know. But neo china's ethereum LOL
-multiple korea + china govt partnerships
-ddm, biggest retail district in korea adopting wtc chips
-mutiple wtc subsidiaries manufacturing chips and blockchain hardware.

But no, basement dwelling crypto projects that have no physical presence in this world obviously more legit.

[Omnivium]

Is something going on with litecoin? Seems to be pamping a little bit compared to everything else

[Parkerscott]

You say cash is functioning well IN society, but who is it benefiting? It certainly benefits society that we don't need to rely on something as in-efficient as bartering, so the concept of currency makes sense. But is our current system really benefiting YOU, or US? I'd say the inflation and decrease in purchasing power we have seen over the last few decades is an example of why "cash" is not working out so well for us. You are absolutely correct about human nature, and I really don't know if Bitcoin will be any different in the end. But at least I know the risks, I personally feel that this is the devil I DO know. I know that I am placing faith in the social contract of the ecosystem. The 21 million coin cap is the best cope/lie we tell ourselves. It's just code, it can be forked same as ETH was forked. The only thing REALLY providing that "soundness" of money is the social contract we all promise not to break, where we collectively agree that the cap will never be changed. In my view, this is similar to the way we all "value" cash, even though it is just paper, and no longer backed by gold or redeemable for true value. The difference is that I have no social contract with the Fed, they control the interest rate, they control the supply, they can create "quantitative easing" and shove it down our throats. I can't make you view cash the same way I do, and believe me I value my cash, but I have come to see it as a liability. It's why I am aggressively pursuing real estate investment, as a hedge against inflation.

As for the distribution of bitcoin, it's another risk, for sure. There is room for manipulation, there is room for a new "ruling class" to emerge. I am not suggesting it is some silver bullet. But it's something. I think it should best be described as an experiment. You won't find me telling anyone to invest their life savings or even MOST of their savings into Bitcoin, nevermind "crypto".

You might just be chitposting, but you still sound like you don't really understand Bitcoin if you call it "lulz hardness". It's probably no "harder" cryptographically speaking than Ethereum or any other coin. The entire concept of blockchain is the "hardness". It's the humans that get in there and mess it all up. The DAO hack wasn't a hack of Ethereum, it was poorly written code at the application level. The code did exactly what it was written to do. I am not suggesting that Bitcoin itself is any harder than any other blockchain. It's the community that provides the immutability. There is value in that, or at least that's my opinion anyways.




This. The whitepaper was a hypothesis. We get stuck on calling it "peer to peer electronic cash" when in reality its value proposition is "digital sound money resistant to hostile takeover". I couldn't care less about the scaling debates, layer 1-2-3 solutions. The "cash" can be lightning network, side chains, other coins, atomic swaps. Whatever is most use-able, so long as the fundamental social contract is never broken.



Again, I agree with you that there is a fair amount of waste and infighting in this space. You're absolutely right that we need adoption or else this can never succeed. There is alot of room for the "cash" solution to emerge. But how will anyone mainstream ever trust the "next" store of value coin? It's basically the Peter Schiff argument. "The 21mn coin cap is meaningless, you can just keep creating new types of coins". In my opinion, if another coin ever "flips" BTC and becomes the new store of value, then his argument will be proved correct, and all of the electricity and proof of work that we claim "backs" BTC will be wasted. It seems self evident to me that if "crypto" is to succeed, BTC must remain the reserve currency. It's sort of telling to me that you think ETH and BAT "shut down" anything. That's patently false. They simply amplified the entire sector, and allowed billions to flow into the space.

There is no reason adoption and UI has to be 100% on chain BTC based.



I think this further solidifies why we are on different pages. You sound like the point of "crypto" is to make a profit. Those of us who have done more than "know about bitcoin" since 2010, understand that this entire movement is underpinned by the need for sound money. That's it. Venmo does a great job at peer to peer electronic cash. You don't need blockchain to solve that problem. Yes there are a TON of great applications for blockchains the BTC will likely never solve or be a dominant solution. But the fact is, that this whole thing was a result of the 2008 financial crisis, and most of the current market participants are wave riding profit seeking newcomers. Us "Zealots" are okay playing the long game.

Now that said, I do want to credit you for making me step back and really evaluate my opinions. You make some great points about speculation versus usage and its relationship to price. The last bull run was 99% speculation and set some irrational expectations that I need to lower drastically. You are absolutely right that BTC has **** UI and **** adoption/mass appeal. The more I think it over the more I realize the parallels to the 2A issues we have in the US. Good luck explaining to a soy drinking normie why they need to have and know how to use firearms. It's just never going to be an easy to evangelize position. It doesn't matter how right I am, or how dire the consequences, it sounds ridiculous to the average person living a comfortable life. I am really not sure how BTC can overcome that hurdle. I am simply confident that on a long enough time frame, it will. And contrary to you (I assume) I believe that if another coin successfully "flips" BTC as the primary reserve currency/store of value, then the entire experiment is proven wrong, and the crypto space is doomed to fail.

Im not trying to come at you hard, and if i am i apologize, and its not my intention.

We see eye to eye but we dont. We have very different opinions. I havent drank the kool-aid laced with cyanide. Also you dont know anything about me, and i dont know anything about you. Im not this idiot you keep painting me to be. I am well aware of what bitcoin is. I am also very adaptable. I don't know how long you have been in this space, how much you have invested, and how much you are up or down or if you have a mob boss loan shark pointing a gun at your kneecaps right now. Truth of the matter is that it does not matter. If i need to swing back to bitcoin i will. Im not going to sit around for this "long time frame" for a pipe dream. If you want to wait 20-60 years for bitcoin cool, im not. If i really want to i will jump back in around the 19 year mark. Honestly i rather get into politics and cuck every single bitcoin maximalist just to troll even if it takes me to the poor house. Keep drinking that bitcoin kool-aid boyo. It doesnt bother me any, but dont pretend like you know what my life is like or what im going through or what i think about. Im doing pretty well btw, and i thank god everyday for the many blessings.

[Parkerscott]

.. on Friday my passive investment made 1600..isn't that half a Bitcoin??? Ohh it is..I come in here bc you tards think you know something...while you get bent over and over again...watch and see..your cope will be legendary

By the way idiot..$250k and positive returns beats your $5k going down to $1k...yup

Powerskenny you can chit talk me all day long, but when you start attacking everyone else you really break a cord. Dont make me ether you in front of this whole thread. I will give you pictures of me. I will show you my account balances, i will even offer to fly you out here old man, and i would like to see you even try and lay a finger on me. I promise you will break your hand on my head and i wont even need to touch you to wrek you old man. Do you want me to teach you a lesson? Hide behind that keyboard kenny. You are a sad dude, and you dont have the balls to post bank statements or pictures of your greasy forehead. Bet you are eating cheetos with chopsticks so you dont get your corsair pleb race keyboard dirty. Low tier poverty scum. If you post in here again you better have some content or im going to dox you or get a mod in here you *******. I already doxxed welshautist but didnt want to drag him on misc because hes a nice guy.

44 years old. top kek. Im a 25 year old security guard/welder that dropped out of college and i probably have a higher net worth than you and havent worked in a year. You want some humble pie kenny? Quit talking chit to everyone in this thread.

[Trapstar4.4]

hmm lot of optimism going on with this pump. trying to figure out whats going on

[Witrebel]

Im not trying to come at you hard, and if i am i apologize, and its not my intention.

We see eye to eye but we dont. We have very different opinions. I havent drank the kool-aid laced with cyanide. Also you dont know anything about me, and i dont know anything about you. Im not this idiot you keep painting me to be. I am well aware of what bitcoin is. I am also very adaptable. I don't know how long you have been in this space, how much you have invested, and how much you are up or down or if you have a mob boss loan shark pointing a gun at your kneecaps right now. Truth of the matter is that it does not matter. If i need to swing back to bitcoin i will. Im not going to sit around for this "long time frame" for a pipe dream. If you want to wait 20-60 years for bitcoin cool, im not. If i really want to i will jump back in around the 19 year mark. Honestly i rather get into politics and cuck every single bitcoin maximalist just to troll even if it takes me to the poor house. Keep drinking that bitcoin kool-aid boyo. It doesnt bother me any, but dont pretend like you know what my life is like or what im going through or what i think about. Im doing pretty well btw, and i thank god everyday for the many blessings.

If you scroll back a bit, you'll see that I tipped my hat your way and pretty pleasantly asked how you were doing. Good to hear you ended up making out pretty well. I don't know you from a hole in the wall but I do have a bit of knowledge about when you bought into eth, and what type of gains you stood to make. Happy to hear that you locked in some of those profits. I really don't take anything too personally, especially on the MISC lmao. I do take technical conversations pretty seriously, and although I have apparently "drank the koolaide" I also don't want to see people taking financial advice that is not technically sound. I think in a way I view you as one of the misc crypto OG's and associate that with a bit of clout. So when I see you dismissing all criticism as "bitcoin maximimalist professional hit piece" I just want to counter that with the other side of the argument so that folks on here get the full picture. End of the day its a crypto chat on the MISC, I don't know why I really even care. But I'd like to see actual debate about the merits of this stuff, versus just chitposting all day long. I'm sure you remember to good old days of Bitcointalk.org when it wasn't shill.com/referalllinks.org. Anyways, I am just a pretty normal engineer who made modest (4 figure) gains mining and selling LONG before the epic 2017 pump. I think I've made a few pretty solid arguments for so called "BTC Maximalism" and you pretty much deflected. I'll ask you a pointed question as I can get pretty verbose.

Can the concept of a cryptocurrency being a global reserve currency / store of value continue to exist in a world where BTC has been "flipped"? If another coin takes on the mantle as the REAL store of value coin, would this type of a "flippening" validate the concerns of Peter Schiff and others that "21 million coin cap" is just a myth? That you can simply create new coins and protocols to bypass the supply cap? Or do you think that type of event will just be business as usual, "markets don't wait for a perfect solution" type of thing?

[tunafish01]

Powerskenny you can chit talk me all day long, but when you start attacking everyone else you really break a cord. Dont make me ether you in front of this whole thread. I will give you pictures of me. I will show you my account balances, i will even offer to fly you out here old man, and i would like to see you even try and lay a finger on me. I promise you will break your hand on my head and i wont even need to touch you to wrek you old man. Do you want me to teach you a lesson? Hide behind that keyboard kenny. You are a sad dude, and you dont have the balls to post bank statements or pictures of your greasy forehead. Bet you are eating cheetos with chopsticks so you dont get your corsair pleb race keyboard dirty. Low tier poverty scum. If you post in here again you better have some content or im going to dox you or get a mod in here you *******. I already doxxed welshautist but didnt want to drag him on misc because hes a nice guy.

44 years old. top kek. Im a 25 year old security guard/welder that dropped out of college and i probably have a higher net worth than you and havent worked in a year. You want some humble pie kenny? Quit talking chit to everyone in this thread.

Copy paste potential

[sakmsb]

hmm lot of optimism going on with this pump. trying to figure out whats going on

Loving the fake pump on this ATH Mooniversary of BTC.

[sakmsb]

Is something going on with litecoin? Seems to be pamping a little bit compared to everything else

Just an FYI for ya all:

Litecoin halving will happen in August 2019. If you believe in halving will increase the price, may be purchase LTC along wirh others.

[Silencespeaks]

Loving the fake pump on this ATH Mooniversary of BTC.

Oh yeah Dec 17. So does that mean the bear market is officially one year old today then?

[Hamzzza]

Powerskenny you can chit talk me all day long, but when you start attacking everyone else you really break a cord. Dont make me ether you in front of this whole thread. I will give you pictures of me. I will show you my account balances, i will even offer to fly you out here old man, and i would like to see you even try and lay a finger on me. I promise you will break your hand on my head and i wont even need to touch you to wrek you old man. Do you want me to teach you a lesson? Hide behind that keyboard kenny. You are a sad dude, and you dont have the balls to post bank statements or pictures of your greasy forehead. Bet you are eating cheetos with chopsticks so you dont get your corsair pleb race keyboard dirty. Low tier poverty scum. If you post in here again you better have some content or im going to dox you or get a mod in here you *******. I already doxxed welshautist but didnt want to drag him on misc because hes a nice guy.

44 years old. top kek. Im a 25 year old security guard/welder that dropped out of college and i probably have a higher net worth than you and havent worked in a year. You want some humble pie kenny? Quit talking chit to everyone in this thread.

yo aren't you that guy who posted like 3 times last week how he's a changed man and doing God's deeds on earth or whatever?

Geez, y'all need to chill out a bit man

[MrAWatts]

Powerskenny you can chit talk me all day long, but when you start attacking everyone else you really break a cord. Dont make me ether you in front of this whole thread. I will give you pictures of me. I will show you my account balances, i will even offer to fly you out here old man, and i would like to see you even try and lay a finger on me. I promise you will break your hand on my head and i wont even need to touch you to wrek you old man. Do you want me to teach you a lesson? Hide behind that keyboard kenny. You are a sad dude, and you dont have the balls to post bank statements or pictures of your greasy forehead. Bet you are eating cheetos with chopsticks so you dont get your corsair pleb race keyboard dirty. Low tier poverty scum. If you post in here again you better have some content or im going to dox you or get a mod in here you *******. I already doxxed welshautist but didnt want to drag him on misc because hes a nice guy.

44 years old. top kek. Im a 25 year old security guard/welder that dropped out of college and i probably have a higher net worth than you and havent worked in a year. You want some humble pie kenny? Quit talking chit to everyone in this thread.

Don’t you live with all you brothers in your mommies house. LMAO

[Parkerscott]

first and foremost, you're a 25 year old autist ^

just like the other low iqcels that write pages about your nonsensical "arguments"

Copy paste potential

yo aren't you that guy who posted like 3 times last week how he's a changed man and doing God's deeds on earth or whatever?

Geez, y'all need to chill out a bit man

Don’t you live with all you brothers in your mommies house. LMAO

lol yall have no idea what I have going on. Im not about to call you out Alan Watts. Believe me, i know plenty about you, and i know who your friends are.

Anyway im out again. I only came back because i had people bugging me in my pms and rep bar. Its clear yall havent grown up yet. Enjoy the TA or whatever trash scheme yall have going on. Might just go make some alts just to troll everyone. Whats everyone holding or trading nowadays?

See ya later boyos!! I just got a whole lot more free time!!!!!

[jamalfudge]

lol yall have no idea what I have going on. Im not about to call you out Alan Watts. Believe me, i know plenty about you, and i know who your friends are.

Anyway im out again. I only came back because i had people bugging me in my pms and rep bar. Its clear yall havent grown up yet. Enjoy the TA or whatever trash scheme yall have going on. Might just go make some alts just to troll everyone. Whats everyone holding or trading nowadays?

See ya later boyos!! I just got a whole lot more free time!!!!!

See you tomorrow

[iifymbro]

lol yall have no idea what I have going on. Im not about to call you out Alan Watts. Believe me, i know plenty about you, and i know who your friends are.

Anyway im out again. I only came back because i had people bugging me in my pms and rep bar. Its clear yall havent grown up yet. Enjoy the TA or whatever trash scheme yall have going on. Might just go make some alts just to troll everyone. Whats everyone holding or trading nowadays?

See ya later boyos!! I just got a whole lot more free time!!!!!

see ya tomorrow

[Parkerscott]

If you scroll back a bit, you'll see that I tipped my hat your way and pretty pleasantly asked how you were doing. Good to hear you ended up making out pretty well. I don't know you from a hole in the wall but I do have a bit of knowledge about when you bought into eth, and what type of gains you stood to make. Happy to hear that you locked in some of those profits. I really don't take anything too personally, especially on the MISC lmao. I do take technical conversations pretty seriously, and although I have apparently "drank the koolaide" I also don't want to see people taking financial advice that is not technically sound. I think in a way I view you as one of the misc crypto OG's and associate that with a bit of clout. So when I see you dismissing all criticism as "bitcoin maximimalist professional hit piece" I just want to counter that with the other side of the argument so that folks on here get the full picture. End of the day its a crypto chat on the MISC, I don't know why I really even care. But I'd like to see actual debate about the merits of this stuff, versus just chitposting all day long. I'm sure you remember to good old days of Bitcointalk.org when it wasn't shill.com/referalllinks.org. Anyways, I am just a pretty normal engineer who made modest (4 figure) gains mining and selling LONG before the epic 2017 pump. I think I've made a few pretty solid arguments for so called "BTC Maximalism" and you pretty much deflected. I'll ask you a pointed question as I can get pretty verbose.

Can the concept of a cryptocurrency being a global reserve currency / store of value continue to exist in a world where BTC has been "flipped"? If another coin takes on the mantle as the REAL store of value coin, would this type of a "flippening" validate the concerns of Peter Schiff and others that "21 million coin cap" is just a myth? That you can simply create new coins and protocols to bypass the supply cap? Or do you think that type of event will just be business as usual, "markets don't wait for a perfect solution" type of thing?

Hey man sorry about earlier, i know its not an excuse, but i just got back from a snowboard trip and didnt check the computer the entire time, and when i got back i had pms and stuff from other sites that set me off so i was in a pretty bad mood. Anyways to try and answer your questions. I would say yes and no for that question. I do believe something else could flip bitcoin as the "store of value" and the market could still survive. Would something flip it? Possibly? Nothing in life is 100% certain and ive seen plenty of black swans im my life so im not going to say bitcoin is king now and forever. It would be tough for something else to flip it, but im not ruling it out. This technology is still pretty nascent and BTC is still sitting at like a $65b mcap and its reputation isnt doing too hot right now. If something is hard to explain, it just makes adoption that much harder. You probably already know by now how hard it can be to get good friends and even total strangers to do some of the most easiest tasks. If bitcoin could be explained easier or it was easy to use, i think it would have a really good shot.

Some of the greatest minds in the world would use as little words as possible.

Anyways im out, just forgot that i passed by you. Might come back if you have a rebutal or you can prime minister me.

[jamalfudge]

That wasn't very long.

[Trapstar4.4]

lol yall have no idea what I have going on. Im not about to call you out Alan Watts. Believe me, i know plenty about you, and i know who your friends are.

Anyway im out again. I only came back because i had people bugging me in my pms and rep bar. Its clear yall havent grown up yet. Enjoy the TA or whatever trash scheme yall have going on. Might just go make some alts just to troll everyone. Whats everyone holding or trading nowadays?

See ya later boyos!! I just got a whole lot more free time!!!!!

dude if you want to team up we can grab some addresses and go beat some ass

[manjay]

Wow, blockstream has leased some bandwidth on satellites giving devs access to satellite APIs on lightning network. Effectively giving bitcoin bloclchain access around 90% of the world via a usb and software (no ISP routing) + privacy. Pretty mimdblowing what this could be in the future.

https://coinrivet.com/blockstreams-s...mpression=true

[Witrebel]

Hey man sorry about earlier, i know its not an excuse, but i just got back from a snowboard trip and didnt check the computer the entire time, and when i got back i had pms and stuff from other sites that set me off so i was in a pretty bad mood. Anyways to try and answer your questions. I would say yes and no for that question. I do believe something else could flip bitcoin as the "store of value" and the market could still survive. Would something flip it? Possibly? Nothing in life is 100% certain and ive seen plenty of black swans im my life so im not going to say bitcoin is king now and forever. It would be tough for something else to flip it, but im not ruling it out. This technology is still pretty nascent and BTC is still sitting at like a $65b mcap and its reputation isnt doing too hot right now. If something is hard to explain, it just makes adoption that much harder. You probably already know by now how hard it can be to get good friends and even total strangers to do some of the most easiest tasks. If bitcoin could be explained easier or it was easy to use, i think it would have a really good shot.

Some of the greatest minds in the world would use as little words as possible.

Anyways im out, just forgot that i passed by you. Might come back if you have a rebutal or you can prime minister me.

Ironically I was out snowboarding Thursday-Saturday. Anyhow, I agree that the complicated nature of Bitcoin makes it pretty hard to adopt. It's basic value proposition assumes the user has an understanding of monetary supply, global economy, and a high level of computer science proficiency. I want to re-iterate my argument here as it seems like you are hearing "do you think something CAN flip bitcoin as store of value" which we both agree is certainly possible. "The market could still survive" being your answer to the question, but I'm asking why you think that?

The Bitcoin Store Of Value proposition is centered on its deflationary nature, and by extension, the 21mn coin cap. The entire incentive structure of the protocol is designed in large part to ensure that this 21 Million coin cap is never changed, or else all of the various parties will lose. The value in Bitcoin is as much the social contract as it is the energy spent mining/securing the blockchain. How could you ever explain to an institutional investor that "Bithereum 2.0 Coin" is the REAL store of value, nothing is likely to flip THIS digital gold? I think there will always be a market for blockchains, but I am pretty squarely interested Trillion dollar valuations. I don't see how you could ever store Trillions of dollars in a mechanism that has been proven to be a poor store of value over time.

[lowstrife]

So much butthurt, yet not discussion of the 10% pump today.

[gixxer0.6g]

Green on a Monday? Bottoms in boys and silence. Bummer my $3k didn't fill

[Witrebel]

So much butthurt, yet not discussion of the 10% pump today.

I’m hesitant to acknowledge it because if we can’t reclaim 3600 then I think 2XXX is still game on. Hoping I’m wrong but I don’t think the bottom is in

[propreffered7]

The Bitcoin Store Of Value proposition is centered on its deflationary nature, and by extension, the 21mn coin cap. The entire incentive structure of the protocol is designed in large part to ensure that this 21 Million coin cap is never changed, or else all of the various parties will lose. The value in Bitcoin is as much the social contract as it is the energy spent mining/securing the blockchain. How could you ever explain to an institutional investor that "Bithereum 2.0 Coin" is the REAL store of value, nothing is likely to flip THIS digital gold? I think there will always be a market for blockchains, but I am pretty squarely interested Trillion dollar valuations. I don't see how you could ever store Trillions of dollars in a mechanism that has been proven to be a poor store of value over time.

well, first of all, different coins have different tasks/goals. so, i find this aspect rather hard to talk about

but just like email or anything regarding new tech ---> email eventually replacing hand written letters. in its infant stages it met resistance from former system not wanting to change

but if that new system is easier/ more efficient/ cheaper/ whatever. i think its almost inherent that it will eventually replace the old tech. it may take a while, but it probably will eventually happen

not always but a lot of the time

e.g. email being instant connection vs. putting letter in mailbox, going through whatever system it goes through and taking a few days/ a week to get to recipient

[iifymbro]

So much butthurt, yet not discussion of the 10% pump today.

[Witrebel]

well, first of all, different coins have different tasks/goals. so, i find this aspect rather hard to talk about

but just like email or anything regarding new tech ---> email eventually replacing hand written letters. in its infant stages it met resistance from former system not wanting to change

but if that new system is easier/ more efficient/ cheaper/ whatever. i think its almost inherent that it will eventually replace the old tech. it may take a while, but it probably will eventually happen

not always but a lot of the time

e.g. email being instant connection vs. putting letter in mailbox, going through whatever system it goes through and taking a few days/ a week to get to recipient

Yep, completely agree. I think this may be one of the sticking points that make "BTC Maximalists" seem like a bunch of early adopters with their head stuck in the sand (many of them are).

There are so many ways that the future can make use of blockchains. Supply chain, micro payments, data marketplaces, smart contracts, the list can go on forever really. But I am really only focusing on one specific use case. Store of value, Sound Money, etc.

I think your "new tech always, eventually, replaces old tech" is a perfect analogy for why folks say that "Every Fiat Currency has always gone to zero" because there will always be another new and improved global power asserting their will and creating a new currency. What I am getting at, is that pretty much the only redeeming value for Bitcoin, versus any other coin, is that it is an attempt to create digital gold. You can try and create gold, but it will always take more energy/cost than simply buying some gold, or mining for gold. So baring a change in the laws of physics, we can be pretty certain that gold is a deflationary, fixed supply, finite resource. This makes it quite useful as a store of value, not discounting the fact that it is also useful in its own right as a material.

What does Bitcoin bring to the table? It's first? It's the most well known? Sure, these things matter but like you said, something newer/better always comes along. No point in trying to argue that Bitcoin is the most cutting edge protocol, there are much newer more feature rich protocols out there already. The fact of the matter is, the only thing that is truly unique about Bitcoin, what differentiates it from all the newcomers, is the massive pile of work that has already been performed on hashing the blockchain. There are millions of dollars invested in a bunch of math, that as far as we know, is "unhackable". The distribution isn't perfect, but with well over 60% of the supply already in circulation, everyone has a fair shake at buying in right now if they want to. Realistically, the value proposition of Bitcoin is that we all agree there will only ever be 21 Million tokens, divisible down to .00000001, and that if anyone ever tried to alter that fact, there are substantial incentives and market forces at play, that would resist the ability of anyone to alter the "Social Contract".

So my point is this, the only way a cryptocurrency can have value, is if it is valued by humans/AI. It realistically has no utility, at least not on a "trillion dollar" valuation level. So how does a token have value, if you can simply create a newer and better token? I mean alchemists tried for millennia to create gold. If you can create gold (profitably), it no longer has a fixed supply. I see a flippening the same way I would see an Alchemist being successful. It's not that I don't think Bitcoin needs to change, or that there aren't "better" protocols out there, its that the very idea of a trillion dollar cryptocurrency is borderline laughable. If there is a single piece of evidence that suggests the supply is NOT fixed, then you pretty much lose the valuation right there. It can no longer be thought of as gold. For me, a flippening would be that evidence.

[inb4everything]

Dang...thought it would head down to 2700. Also those EOY 10K predictions are looking laughable now.