Bitcoin, BAT, XTZ, Nano and Why I Care
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Bitcoin, BAT, XTZ, Nano and Why I Care

By Thomas Wolf | Thomas Wolf's Den | 17 Jun 2020

Nothing like an unprecedented time for an interesting time.

I have decided to put most altcoins on the back burner but I wanted to discuss my loyalties with the handful that remain.

Bitcoin should require no explanation but I think it's fair to say it's still a very strong token with a plausibly excellent future.  I have no doubt Bitcoin's days are long from over.

Basic Attention Token (BAT) is power-driven by the Brave browser and has the most social support of any upcoming coin to which I am aware.  I love the concepts of privacy and a paid-to-click non-invasive viewing experience as much as anyone else, as well.

Tezos (XTZ) is also heavily supported, no doubt due to the ability to stake tokens while not on ice; this seems to be the strongest of PoS tokens at this time.  I am staking in Atomic Wallet, Exodus, and Coinbase and moving all three to a Ledger Nano X hardware wallet by mid-September.

I all but abandoned Stellar Lumens (XLM) - I have never had a reason to use Stellar for anything at all.  It's virtually useless to me.   Let me know what you use it for in the comments, if you would.

I'd like to note my support for another token not often mentioned here:  Nano.  It is a Proof of Work token where every wallet has its own blockchain, and it uses 8,000,000 times less power (0.112 Wh vs. 950 KWh) than Bitcoin.

It's basically instant in transaction time and it uses a light PoW load from your system to send each transaction.  It's really a wonderful token and I feel it is overlooked.  I don't keep much invested in it, but I would love to see more support for it, it holds a current value of $1.17 USD.  I believe Nano could absolutely bury other tokens with enough support, but the support is lacking.

Nano faucets are funny because they are sent to your wallet instantly for every claim; no withdrawal minimums.  There are a few on Google as well as TipNano for mobile.

I have mad love for Nano but I still keep most of my money in the other three mentioned in this title.  My reasoning goes back to social support and the likelihood of the tokens survival and ability to grow.  While most only evaluate graphs, I like to feel out the attitudes of people and look at what is actually being used.  If you can't use it for transactions, what good is it?

Given my love for nature, and a mind for something practical - I would love to see something like Nano *eventually* replace Bitcoin as the primary coin.  It's foolish not to do so already; it's just so damn efficient.  Some people even mine Monero and get paid in Nano because it's faster with less fees on payout.  I suppose that buffers their mining carbon footprint a bit, as well.

Litecoin and Ethereum are also note-worthy for this piece, Litecoin is widely accepted and has faster transaction times with lower fees than Bitcoin.  My only problem with Ethereum or ETH based tokens is the gas requirement, such as having to convert my Loopring (LRC) earnings and pay gas in the process.  I wish Publish0x would implement a way to choose which token/s you wish to paid in out of the ones they have available, they do cross-convert.

Would you agree?  What are your favorite altcoins at the moment, or are you a purist and staying completely loyal to Bitcoin?

Let me know what you think in the comments!

-Thomas Wolf

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Thomas Wolf
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Technical Researcher, Writer & Editor. Cryptocurrency & Blockchain Technology Advocate, STEM Student, Self-Taught Techie, PC Gamer, Nature Enthusiast, DIY Specialist, and Market Trader.

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