Can Bitcoin be Copied? Bitcoin vs. Altcoins & The Immaculate Conception of Bitcoin

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Bitcoin has become money over time only as the bitcoin network developed emergent properties that did not exist at inception and which are next to impossible to replicate now that bitcoin exists. - Parker Lewis
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Original Article - Bitcoin Can't Be Copied by Parker Lewis:
nakamotoinstit...
If Balaji Had to Make One Bet in Crypto: BTC vs. ETH vs. Other? - Tim Ferris Show:
• If Balaji Had to Make ...

[@tillmusshoff]

I built a 'Link in Bio' - a Linktree alternative for Bitcoiners. Check it out here: bitcoiner.bio 🧡

[@OliverVelezTrading]

This was truly excellent work. Thank you. 👍🏽

[@mavadd88]

I didnt choose to be a bitcoin maxi, when you finally start to understand it, it is an inevitable conclusion.

[@LennartMogren]

Added to my understanding. Thanks!

[@21Million]

I'm a Maximalist. The REASON Bitcoin cannot be copied (as stated by Unchained Capital FAQ) is because of the Network Effect + Greshams Law + Theirs' Law. Of course there can be other copies of Bitcoin, but the network effect and game theory will drive them down compared to Bitcoin. For this reason we say "all other cryptos" are not a legitimate winner. The REASON we say other cryptos are scams is because they pretend to be what they cannot be: money and this is due to the game theory I stated above.

[@vukaarkelin4556]

Nice one. Understandable for all. Even by being already 5 year in it, those Infos are very valuable. If I may a stupid question! As you say at the end, btc can't be copied. What if, because the code is open source, we start it again from the beginning? New genesis block, new mining start, 1 to 1 the same? We could copie it? Yes/no? Of course this time it would not replicate the same way. Just a thought......

[@offchan]

If you are going to copy bitcoin and not changing anything you failed the most important property: Network effect. You don't have users, miners, and developers. And because money system tends to one, no one is going to switch to use the new bitcoin, because there's no incentive to do it. Well, maybe a few gamblers/speculators might go and buy it but it will fail soon. The only reason people will move to new thing is when it is far superior in many ways, like when people moving from fiat to bitcoin.

[@gdcolwell]

Saving this one to send to altcoiner friends who as why bitcoin only. Thanks Till.

[@Wban23]

This should be an hour long😢

[@Akibar97]

Hey i wanna ask, this is a bit imaginatif but what if somehow alternate universe is real and we got copy of our wallet, can it double??

[@nicolas_821]

Tanks till, great video!🙏⚡️

[@mercury3037]

Epic cash is the coin that will take over bitcoin. Epic cash is designed and built true to satoshis vision. But epic cash is built on newer tech that is faster, smaller, and private.

[@mg-world3418]

Great message. Thanks brother

[@DevinCBeck]

Well said thanks again.

[@PythagorasHyperborea]

Well, why couldn't you just create an exact clone of bitcoin and give more people a chance to obtain it more equitably, in the future when more people know about it???

[@jasonsellers56]

"...It makes Bitcoin the only truly decentralized project, whereas everything else is closer to a tech company. There might be a place for some of them, but they are not Bitcoin competitors, and certainly not suitable for the money usecase." In almost 7 years since I found Bitcoin, I have yet to see a single usecase among the altcoin tech companies that couldn't be done better and immutably on top of Bitcoin. Like Bitcoin, they each require a token to incentivize users to run their protocols and secure their networks, but the quality of their tokens was an afterthought at best. Their developers put the cart before the horse (they ignore path dependency) by prioritizing the application layer above the settlement layer. Only with Bitcoin was unstoppable money created on the settlement layer, which incentivizes its users to secure the network, so any application can be built on top of it.

[@Emrico35]

actually, you can copy bitcoin, it's open source. you can create your own bitcoin network, the problem is you can copy football, nba basketball as well, you can create your own league but who you will play against? who will play in your league with your own rules? :))

[@tillmusshoff]

talked about this in another video. bitcoin ia the schelling point :)

[@Emrico35]

@@tillmusshoff yeah :) nice one

[@koshkosh2745]

While I agree with a lot of arguments for Bitcoin being what it supposedly is(yes, supposedly), you are discounting the ingenuity of humans. It's like saying because Newton and Leibniz, one or the other was the first to come up with the concept calculus and therefore ideas of the other are not true calculus. Never count a human out.

[@theenergeticdomain.2379]

I correct. Sorry.