Bitcoin was never supposed to make it this far. It is perhaps the greatest underdog story that we have been able to witness during our lifetime. While this may sound hard to believe with its price currently sitting around $30k, and reaching $69k during the last bull cycle. Bitcoin defied all odds and obstacles to reach its current point, and we haven’t even begun to see its full potential.
This is the battle that Bitcoin has faced along its journey and will continue to face in the future.
Perfect Creation
One of the greatest things that sets it apart from all other cryptocurrencies is that it had a perfect creation. When Bitcoin was created, it had absolutely no value; and many people wouldn’t take it even if it was offered for free. There were even Bitcoin faucets that were giving full Bitcoins when claimed.
Bitcoin had to gain real value naturally, it wasn’t assumed like when most cryptocurrencies are created today. There wasn’t an expectation or profit, and it would take years for it to actually gain value. Some have declared it an immaculate creation that could never be replicated to today. It was the original cryptocurrency and is responsible for creating this entire market. This is one of the key areas that sets Bitcoin apart from other cryptocurrencies.
Flawless Morals & Tokenism
In an era where new projects are pre-mined and given out to investors, team members, and so on. Bitcoin has an open for all to mine. Back in the early days, you could successfully mine blocks with a laptop computer. It was truly decentralized, and not made with making a profit or paying back investors.
The main complaint toward Bitcoin was that Satoshi Nakamoto, the creator of Bitcoin, was able to mine millions of early Bitcoin. But, the truth is that Satoshi has never even touched the coins that he mined. After 13 years, most have agreed that Satoshi’s coins are either lost, burnt, or will never be touched. Since Satoshi has long left the project, his shadow is no longer looming over it. This is a problem that other projects that have influential leaders often face. Projects such as Ethereum, Cardano, Polkadot, Solana, and the list goes on.
Surviving the Obstacles and Bans
Bitcoin should have never made it this far. Many people forget that there was a time early in its history when there was a real fear that people would go to prison for simply owning Bitcoin. There were fears that the United States and other powerful governments would ban it.
There were even fears that after the Silk Road and Mt. Gox situations, Bitcoin would only be thought of as something sketchy that can’t be trusted and is only used by criminals. Fast-forward to today where not only have some of the biggest companies in the world put Bitcoin on its balance sheet. But, an actual country has made it legal tender within its borders. No one could have imagined how far Bitcoin would go.
Surviving the Long-Term
Yes, it is true that Bitcoin was the first cryptocurrency and the project that most people initially hear about. But for it to still be the #1 cryptocurrency is an incredible achievement. After all, in most technology sectors, it is the first mover that is the most successful, but future projects that perfect the model.
For example, the iPhone wasn’t the first touch-screen phone. Google wasn’t the first search engine. Internet Explorer or Firefox weren’t the first internet browsers. However, Bitcoin has remained number one and it doesn’t look like that will be ending anytime soon.
The Future
Up until this point Bitcoin has achieved incredible things. With that said, its greatest battle is still ahead. The US government is in a defensive state and has woken up to the threat that Bitcoin presents to not only the US dollar but the US as a whole. They have begun to attack Bitcoin, crypto, and exchanges with full fury. This is likely only the beginning and will only ramp up further in the future.
If Bitcoin can not only survive against government regulations, attacks, FUD, and bans. It will truly have been the greatest underdog story we have ever seen.
How about you? What do you think Bitcoin’s great achievement to date is?
Read Exclusive Articles 1st on
As always, thank you for reading!
