Altcoins are competition, that's good, I'm not advocating you should buy them.
No, money doesn't need competition. Money thrives the most as a singular, monopolistic participant in the market.
why adopt bitcoin?
Because there is nothing else in the modern era that functions as money, at least since paper gold destroyed real gold.
"
No, money doesn't need competition" BS - people think this guy has insight? we have a Fiat monopoly we need competition, if there is something better than Fiat i want it, I want it to thrive in a free market as proof, if there is something better than Bitcoin I want that too.
It was just a light comment, driven by the fact that Fiat is not actually money. Calm down.
why adopt bitcoin? is light question reflecting the ignorance that we need to destroy competition to make bitcoin succeed. the only problem with fiat is inflation, the majority in the world believe that make it good money.
Bitcoin the Blockchain - not BTC, its the value is resides, BTC is how we manage proof of ownership. it is preserved and regulated because of the incentive structure that is what makes it viable, Bitcoin is the only shot we have an hard money, and the proposed protocol change will Preserve the 21M BTC but allow institutions to extract value from the blockchain by creating assets
outside the incentive structure. this is the same problem with fiat, 1 in a million see the problem of inflation, this proposed change will have the same effect on Bitcoin.
this is where you are continuously wrong.
the incentive structure doesn't get avoided, it merely expands into sub network of shared value