Post
Topic
Board Bitcoin Discussion
Re: I don’t like the term “crypto”
by
Iranus
on 25/04/2024, 08:05:34 UTC
Hate it or love it, Bitcoin is Crypto. No matter how you want to treat it, it is a cryptocurrency just like we have many others. What I get from people most times is how they think that crypto is a scam and this is always caused by some altcoin, etc. So any thing said about crypto in general or accusations about it still ends up hitting all innocent cryptocurrencies, especially Bitcoin. But it is what it is.

Exactly, that's my thought. Yeah, there are a lot of scams in the crypto space, but scam schemes always existed with fiat too, people still use it, and they don't have the word "money" or "currency". Not calling BTC crypto because there are other coins that are used to do shady stuff is like not calling yourself an American, when you're an American, just because you don't like what some other Americans do. That doesn't define you, just like it doesn't define BTC.

Even if bitcoin were completely separate from cryptocurrencies, but with such high profit potential and volatility, I believe scammers would come up with scams and label bitcoin projects of them. There's no way to avoid those.

The cryptocurrency industry is only in its early stages and is free, so it is inevitable that fraudulent projects will be created unchecked. But I believe that as things develop and regulations are introduced, scam projects will gradually disappear, but besides that, we will pay the price of no longer being free.

People who support OP's ideas are because they are bitcoin maximalists and they hate altcoins, but they will never change the fact that bitcoin is an important part of the crypto industry  Grin Grin.