Throughout the last several years there have been endless debates about which cryptocurrency projects you should invest in. Bitcoin maxis will argue that Bitcoin is the name of the game and that you should only be investing in that. General fans of crypto will argue that there are a lot of exciting projects out there and you need to keep an open mind. As the years have gone by, there have been examples where both sides were proven right.

For example, following the key beliefs of Bitcoiners could have prevented you from being a victim of all of the crypto insolvencies and frauds during the last year. Helping to keep your portfolio safe. However, people who have kept an open mind throughout the last few years have been able to make large sums of money by investing in Ethereum and other projects. The fact is that we haven’t reached the end of the story yet, and we don’t know which side will be proven correct.

With that said, there is one thing that Bitcoiners often claim about Bitcoin that can’t be said about any other project in the market. They claim that Bitcoin is a finished project. That all development could stop today and it would still be able to fulfill its purpose and main goal. Something that can’t be said about Ethereum or any other blockchain.

Is Bitcoin actually a finished product?

Many people’s first response to this question might be a resounding no, but it actually goes much deeper than that. People want fast and cheap fees, but at the end of the day, that has no bearing on Bitcoin’s success. If Bitcoin's future trajectory would be to simply overtake gold as the best way to preserve your wealth, it doesn’t need cheap fees. Think about the process of actually owning large amounts of gold. There is a lot that goes into it. First, you must buy it, then you must find a place to store it. Most will opt to have someone else store it for them which costs a large annual fee. Then if you ever want to move it, there is another large fee that you need to pay. That isn’t even taking into account the security aspect as well. Any time you move or take your gold anywhere, there is a large chance it could be stolen or seized. 

People today complain about Bitcoin’s transaction fees being a few dollars to move, but in actuality, it is very cheap. People are able to send billions of dollars for only a few dollars. Even in the future when fees rise to hundreds of dollars, this would still be cheap. Then we also need to take into account that you can take your wealth anywhere you want, whenever you want. This is something that people in Ukraine learned the difficult way last year when they had to evacuate at a moment's notice. Taking only what they could carry, and being forced to leave most of their wealth behind.

In this instance, Bitcoin is a finished product. The blockchain is the most secure, decentralized, and trusted. It is the most pristine asset in the cryptocurrency market.

However, people always want more.

Over the last few months, Bitcoin has begun to change rapidly. Thanks to the Taproot protocol upgrade, everything we thought we knew of what is possible on Bitcoin has changed. All of a sudden we now have Bitcoin Ordinals and BRC20 tokens, and likely we will see DeFi and smart contracts in the future. Bitcoin is changing rapidly.

This has left many Bitcoiners hungry for more innovation. Thinking that they don’t have to sacrifice all of those other things. This has led to debates about whether Bitcoin should scale further, and what the blockspace should actually be used for.

The big question is which side do you fall on? Do you prefer to keep Bitcoin steady like a rock, and change very little? Or, do you want to see innovation continue on Bitcoin?

How about you? Do you think Bitcoin is a finished product?

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