There Are No Gods in Bitcoin
Recently I wrote an article about how Bitcoin has a leader problem. Because it is so decentralized, this means that it takes much longer to upgrade, get anything done, and do everything we can to move toward gaining mainstream adoption. If Bitcoin had a leader, maybe we would be able to agree on Bitcoin’s roadmap. Should it increase blocksize, and focus on scaling on the Layer 1 blockchain? Should it focus on adding smart contract capabilities, NFTs, and even gaming? Other blockchains such as Ethereum have a prominent lead who everyone listens to for their input and shapes the future of their blockchain. Since Satoshi Nakamoto mysteriously left the Bitcoin project, we have been left to figure it out for ourselves.
But that isn’t a bad thing. In fact, today I will be taking the counterpoint and telling you why that makes Bitcoin unique in crypto, and also the strongest form of money.
Bitcoin doesn’t have a leader, and that means there isn’t one person who everyone listens to and determines the future of it. This also means it doesn’t have a single point of weakness. A handful of years ago there was a rumor that Vitalik Buterin had died in a car crash. Before it was verified that he was still alive, there was panic in the market. What would Ethereum do without him? Was the dream finished?
But there is also the aspect that sometimes leaders of projects lose their way. They either change the project drastically to fit their own views, or maybe they even begin to lose interest, and then the project fades away. That is a scenario that we saw play out with EOS.
The truth is that the best thing Satoshi Nakamoto ever did besides creating Bitcoin, was leaving it. This was a make-or-break moment for Bitcoin, and necessary if Bitcoin ever hoped to become truly decentralized. While governments around the world may hate Bitcoin, want to ban it, or even want to destroy it. Because there is no single point of weakness in Bitcoin, there is nothing that they can do.
You probably have heard the famous phrase, “Just try to talk to Bitcoin’s CEO.” You can’t because there isn’t one, and not even a leader. Ethereum has Vitalik Buterin, Cardano has Charles Hoskinson, Polkadot has Gavin Wood, Solana has Antoly and Raj, and the list goes on.
At the end of the day, Bitcoin has always had two main purposes. It is a better form of money, and also extremely decentralized so that it cannot be controlled, attacked, or manipulated. It is well on its way to achieving those goals already. But still has room to grow and improve.
Even though Bitcoin development and upgrades move at a slower pace than many of us would like, when there is a general consensus that approves the next extensive Bitcoin upgrade, it is a truly magical thing. Some would even consider it a monumental achievement to have anything approved.
That is what makes Bitcoin special. It is the ultimate cryptocurrency because it is the hardest form of money, has the best security, is the most decentralized, solves Byzantine Generals' Problem, and also has the history to back it up. It is the original cryptocurrency and is the reason this whole market exists. Up until now, through thick and thin. Through FUD, bear markets, and times when everyone was saying that Bitcoin was finished. It has defied all odds, stood up, and became even stronger. All of these things are what makes Bitcoin so special.
How about you? Why do you think Bitcoin is special
Read Exclusive Articles 1st on
or
As always, thank you for reading!
