Bitcoin is a hot topic.

It has created ripples in the economic market and has brought forth a literal forth a literal boom of possibilities thanks to the blockchain technology it utilizes.

After its inception (and first rise in popularity) many altcoins sprung up, copying and modifying the opensource-code it used. All trying to jump on the bandwagon of digital currency.

Many more trying to reinvent the wheel and miserably failing in their attempt to discredit Bitcoin and gain the upperhand in the economy of digital currency.

This story has been going on since the early days of Cryptocurrency. A hidden “war” for market capitalization.

Yet Bitcoin rules prime.

The war has now shifted as Bitcoin is an incontestable among digital coins and tokens. The reasons thereof are manifold.
In a previous discussion titled “The (other) Bitcoin Standard” we discovered the technical reasons why.

When it concerns economic reasons, this can be summed up in an image showing 6 trillion reasons why:

Where most people would think that the real enemy of bitcoin would be another Cryptocurrency, like Ethereum, the truth is a grey area.

Rusty Russell from “Rusty Russell’s Coding Blog” has been hitting nails on the head in his latest blog titled: “57 Varieties of Pyrite: Exchanges Are Now The Enemy of Bitcoin”

In an eloquent and concise way it paints a bleak picture of the current state of trading platforms.

Whereas Bitcoin rules prime (which any self-respecting Cryptotrader, -enthusiast, -miner and investor knows), most gains trading-platforms make are from trades.

As with anything concerning “internet” and “world wide web”, the real money is not with the use of bitcoin for transactions, it is in the holding of Cryptocurrencies and inter-exchanges going on. Preferably on the platforms themselves AND NOT AMONG USERS.

The bleak reality is this, almost all trading platforms now offer Bitcoin in order to draw people in to then sell their own (dedicated) Altcoins.

With this strategy they enable themselves to hold Bitcoin (and reap the rewards) while investors and traders bear the bulk of the expenses by trading and exchanging promoted Altcoins.

For further reading I suggest reading up on Rusty Russell’s latest article to get a good grasp on the current situation.

You may find Rusty Russell’s blog here: “click“.
His Twitter profile here.

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