full image - Repost: Is Bitcoin really worth $50k? (from Reddit.com, Is Bitcoin really worth $50k?)
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It really depends on your values and objectives. If you only care about profit, which is always proportional to volatility, you will value the most volatile asset. I only care about the tech.As the first crypto, Bitcoin is the most basic and least technologically advanced of all. There was a lot of room for improvement when it first came out, and a lot of ideas were proposed, but got rejected. Bitcoin has seen some bug fixes, and a bunch of small optimizations, but the core architecture hasn't changed because the devs won't allow it. They want to keep it original.So developers implemented their ideas in altcoins. A lot of altcoins are trash, pointless memes, scams, and cash grabs, but every legitimate altcoin is inherently superior to Bitcoin. Litecoin, for example, is superior simply because it has a shorter confirmation time, and a memory bound hash function, which is more energy efficient. Anything you can do with Bitcoin you can do better with Litecoin. Today, Monero is the most advanced crypto in the world; superior to Bitcoin by every measure.Crypto markets may appear to contradict everything I'm saying, but actually they prove my point. Markets are dominated by investors who only care about profit, not tech. Their collective desire to pump and take profit is what makes Bitcoin volatile, which makes it attractive, so they're always dog pilling Bitcoin. It's a repeating bubble driven by the Greater Fool Theory.
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