Altcoins Not A Threat To Bitcoin
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On this episode of the “Bitcoin Magazine Podcast,” host Christian Keroles sat down with the infamous Bitcoin Twitter personality and troll Udi Wertheimer to discuss why the hardcore Bitcoin faithful should not be so worried about alternative cryptocurrencies, or “altcoins.”
Generally speaking, Bitcoiners are very adversarial towards altcoins and those who support them. It is not unheard of to see Bitcoiners loudly decrying all altcoins as scams and altcoin investors as foolish.
Neither Wertheimer nor Keroles believe that altcoins pose a real challenge to Bitcoin, nor that they can even be helpful for new people who are not quite primed to understand Bitcoin initially. Bitcoin is quite unintuitive to people still operating with a fiat mindset. Wertheimer also challenged Bitcoiners by claiming that they lose credibility when they continue to pretend that some altcoins like doge and ether have not outperformed bitcoin substantially in 2021.
Wertheimer thinks that toxicity was much more necessary back in 2015 to 2017, during the Bitcoin fork wars. He now believes that Bitcoiners can be much more empathetic and successful at converting new Bitcoiners and precoiners to Bitcoin with a less toxic strategy. The current brand of altcoins pose no threat to Bitcoin itself and, if anything, it amplifies Bitcoin’s own brand, reach and total addressable market.
Please listen, share and tell Bitcoin Magazine what you think of this conversations with Udi Wertheimer.