Bitcoin is different from other cryptocurrencies. This is something that you have likely heard Bitcoin enthusiasts say. That there is crypto, and then there is Bitcoin. They are not the same and should be valued differently. Throughout the last two years with everything that has taken place in the crypto market, they have begun to say this even louder. But why is Bitcoin different from crypto? If you are going to survive in this market, this is something you need to know. 

Bitcoin was the original cryptocurrency and is responsible for this whole market existence. Without it, not only would the crypto market look completely different. But there is a high likelihood that it would disappear. The market currently depends on Bitcoin and clings to it like a magnet. It is the only project that moves on its own merit. Everything else either goes up or down in unison with it.

The truth is that Bitcoin is the only asset in this market that gained value naturally, and could be argued that it has any real value. It is the ONLY crypto to launch without having any fiat exchange price. There were no pre-mines, VCs, or coins allotted to developers on the project. Those who mined Bitcoin did so before any exchanges even existed. They did this with no guarantee or expectation of profit. In fact, it would take a few years before it even had value. Bitcoin is the only “crypto” market that developed naturally and still is today. All other projects were given a dollar value before launching. It is completely decentralized without a single force controlling it, and its creator, Satoshi Nakamoto, has long disappeared into the horizon.

With all of the recent news of the US SEC suing crypto exchanges such as Binance and Coinbase. Even going so far as to declare cryptocurrencies such as SOL, ATOM, MATIC, ICP, ADA, and several others as securities. It is all due to them doing the above exactly the opposite of Bitcoin. It is the only asset in this market that is without a doubt not a security.

While the creation of Bitcoin is different from other cryptocurrencies, that isn’t the only thing that sets it apart from most other projects. The fact is that most other projects are simply about the number going up and making as much money as possible. As evidence of this, you only need to look at the airdrop hype that often overtakes the markets. People are gaming the system and performing tasks with the simple hope of receiving a free payday. Many of these recent airdrops are Layer 2 airdrops on ETH that are launching governance tokens. Projects such as Optimism and Arbitrum. The reality is that the layers didn’t need to have tokens to work. Coinbase is creating BASE, built on the Optimism network with no token. When compared to Bitcoin, its layer 2, Lightning, doesn’t have a token.

While not everyone is the same, typically Bitcoiners are more concerned about creating an ecosystem to help reach its final goal. Which is to have Bitcoin overtake gold as the best way to preserve your wealth, and then take on the dollar as the world reserve currency. 

There are a lot of great projects other than Bitcoin in the cryptocurrency market, and I’m a fan of many of them. However, you must always remember that there is Bitcoin, and then there is everything else. In this market, the name of the game is to accumulate as much Bitcoin as you possibly can. Sometimes, investing in altcoins can be a good tool to speed up that process. But, it can also be a risky strategy that decreased your portfolio in terms of Bitcoin.

How about you? What are your thoughts on Bitcoin vs. other cryptocurrencies?

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