I was wrong about Crypto. Why I changed my mind and became Bitcoin-only:

In February 2021, I started to research "Cryptocurrencies" to find out what was all the buzz. It was a very interesting topic, and the more I researched, the more interesting it became. Bitcoin, Ethereum, Binance, Cardano, Polkadot, plenty of flavors for your ice-cream...

If you read my first posts, you will see someone with a good enough knowledge of the industry; I even got contacted by a crypto-exchange to potentially become a crypto-analyst. Read my posts and you will find good arguments about almost all the "Cryptos" I talked about.

The fact is, before starting to research all of these different tokens, I did not ask the right question... Actually, no one I know asks that question: What is money?

Money is a technology that enables us to transfer value through time and space. Money is not just paper to buy tomatoes from the supermarket. If you want something to enable you to buy tomatoes from the supermarket, you need that thing to have salability across time and space.

X's salability across time determines how easy it is for that thing (X) to be sold back to the market without losing value. The salability across space determines how easy it is to sell X across large distances. Prime Real Estate has good salability across time, but zero salability across space as it is immovable. The dollar has good salability across space as you can use dollars almost anywhere in the world to buy something. You could sell your dollars in exchange for something with almost anyone. However, the dollar has a shit salability across time, it does not hold value across decades, you cannot just sit on your dollars and stay rich.

So why Bitcoin? Why not Ethereum, which many of you say is better? (Just like me before, lol). Let's first start by stating that Bitcoin has excellent salability across time and space, because it is scarce and digital. Scarcity determines how it can move value across time, and digitality (yes it's a real word) determines how it can move value across space. At the surface, we could say that Ethereum also falls in that category, but it doesn't, because we need to consider other factors.

Here's a hard fact for all you crypto-bros: Bitcoin is the only network in the world that cannot be controlled, mutated, hacked, or centralized. This is because it is secured by proof-of-work, which imposes real-life physical costs on any group that tries to attack the network, making it the most secure open-network in the world. Proof-of-work is a winner-take-all industry, where the best network gets to eat the whole cake. There are thousands of different "copies" of bitcoin where people tried to make something better; they all failed... You cannot invent absolute digital scarcity twice.

Since anyone can run a Bitcoin node as it is almost free, it is impossible to shut down the network without either shutting down all connections (even satellite), or killing all humans (not just all bitcoiners, as if you only kill bitcoiners, new bitcoiners will emerge).

But we haven't got to the main point: why isn't Ethereum better, since it has all these cool features and does not consume energy like Bitcoin? Ethereum is centralized, it has a development team, it has Vitalik Buterin at the top of the pyramid, deciding what to do with his shiny toy, changing the parameters every six month... Ethereum was launched for profit, the team started it by selling tokens to insiders in exchange for money (they used bitcoin lol). These insiders (simply people with very big bags of ETH), have control over the network, making Ethereum vulnerable to human corruption.

Again, Bitcoin is incorruptible, Ethereum is. It's the same story for all other cryptos: guy with a brilliant idea, development team, insiders with large bags, marketing scheme to hype up retail investors, insiders get rich, insiders dump their tokens, retail gets rekt. And it gets even worse, Ethereum is now secured by proof-of-stake, which does not link the digital world to the physical world, making the big Ethereum holders extremely powerful as they get to vote on what happens with the network, since 1 ETH = 1 vote. Guess who are the largest Ethereum holders today... Exchanges like Coinbase, Binance, Crypto.com, and staking solutions platforms like Lido.

Question: what happens when the US government puts a gun to the head of these institutions requiring them to force protocol changes on Ethereum? Will Ethereum be safe from government capture by then? It won't... change my mind.

PS: this post was written before OFAC (US gov agency) started censoring Ethereum blocks, so what was said right above turned into reality. Ethereum is slowly but surely getting captured by the state.