Bitcoin Maximalism Has Won

[marcus_of_augustus]

RootStock can do everything ETH can do ... except uses bitcoins natively.

it technically uses an altcoin that is pegged to BTC---there is a difference.

no layer 2 protocol can ever provide the same security guarantees that bitcoin does. i think that's why interest in them has traditionally been lacking.

Which do you think Institutions will use to do DeFi when they are loaded up with Bitcoin?

institutions want their bitcoins locked up in cold storage at fidelity, coinbase. how does that fit into that scenario?

Rootstock is a merged-mine sidechain, so cryptographically not an altcoin but 1-to-1 swap with bitcoin since it locks coins on bitcoins mainchain. Nice shitcoinery FUD attempt though.

When institutions get enough btc cold stashed away and confident enough with their crypto skills they will definitely be temlted to experiment with some portion for Rootstock DeFi.

[1715293007]

1715293007

[1715293007]

1715293007

[1715293007]

1715293007

[1715293007]

1715293007

[1715293007]

1715293007

[figmentofmyass]

1-to-1 swap with bitcoin

that implies an altcoin. it doesn't matter whether it's pegged. RBTC is a token on a different protocol with much weaker security guarantees. trying to claim that a merge-mined sidechain is "bitcoin" is insane.

it was actually paul sztorc (drivechains) who opened my eyes about this when he remarked that sidechains are altcoins---they are just interoperable with bitcoin too.

since it locks coins on bitcoins mainchain.

that prevents unintended inflation but it doesn't make RSK secure.

still true:

Miners can't steal with 51% attacks alone; they have to also do doublespends, which is very limited.

With merge mined sidechains and drive chains 51% attacks are sufficient to steal funds.

https://twitter.com/peterktodd/status/1090397896858492928

[KTChampions]

I disagree that institutions are not interested in altcoins. There is undoubtedly interest, but it is different from bitcoin. Bitcoin is considered by all market participants as an investment, first of all, and altcoins as a tool. And I can't say that the interest as a tool is bad - bitcoin started with this.

[Wulan_maniez]

The competitive advantage  inherent in Bitcoin easily makes bitcoin more successful than other cryptocurrencies in many key
areas is its ability to limit new publishing. In particular, bitcoin supply cannot be manipulated, nor is there any more issuance.
This  is  in  contrast  to  other  cryptocurrencies  whose  supply  is  subject  to  change,  such  as  Ethereum (ETH)  and   XRP,
as well as all fiat currencies.

[pooya87]

it technically uses an altcoin that is pegged to BTC---there is a difference.

no layer 2 protocol can ever provide the same security guarantees that bitcoin does. i think that's why interest in them has traditionally been lacking.

Whatever it is, it's still pegged to bitcoin, has no premine, is immutable, is not as centralized and is much safer compared to the alternative such as ethereum.
The only reason why the interest in RSK is not as much as ETH is because you can't pump and dump it like you pump and dump ETH so there isn't any profit to be made there, and also the hype of the ETH platform means you can easily create the shittest and most useless token and still dump it on idiots and make money whereas if you do that on RSK nobody would even hear about it let alone anyone buying that shittoken.

[plr]

I disagree that institutions are not interested in altcoins. There is undoubtedly interest, but it is different from bitcoin. Bitcoin is considered by all market participants as an investment, first of all, and altcoins as a tool. And I can't say that the interest as a tool is bad - bitcoin started with this.

They are not going to ignore altcoins institutions are no different to us investors, when they see there are profits to be made investing in altcoins and they see the potential and use case of these altcoins they are going to explore these altcoins and they are likely to invest here, it's hard to ignore altcoins like Ethereum Cardano Binance coin among others.

[RealMalatesta]

it technically uses an altcoin that is pegged to BTC---there is a difference.

no layer 2 protocol can ever provide the same security guarantees that bitcoin does. i think that's why interest in them has traditionally been lacking.

Whatever it is, it's still pegged to bitcoin, has no premine, is immutable, is not as centralized and is much safer compared to the alternative such as ethereum.
The only reason why the interest in RSK is not as much as ETH is because you can't pump and dump it like you pump and dump ETH so there isn't any profit to be made there, and also the hype of the ETH platform means you can easily create the shittest and most useless token and still dump it on idiots and make money whereas if you do that on RSK nobody would even hear about it let alone anyone buying that shittoken.

ETH is still by far the king of all altcoins because it is definitely something profitable to hold when hypes happen, it is the second biggest coin so when bitcoin stops eth starts to grow. Think about it this way, if bitcoin is loved so much and everyone gets it, the moment they start to look for something else? They look at ETH and that is why nothing else can ever pass it.

It doesn't matter if the tech is better, it doesn't matter if there is a better feature or a code, it doesn't matter whatever other coins do better, you think bitcoin is the top coin because it has the best blockchain? Obviously bitcoin is one of the worst coins technically speaking, there are so many coins which are hundred times better than bitcoin, but bitcoin still leads them, because it has a larger community that trusts it, which is why you should focus on ETH being second, not ETH code.

[KTChampions]

I disagree that institutions are not interested in altcoins. There is undoubtedly interest, but it is different from bitcoin. Bitcoin is considered by all market participants as an investment, first of all, and altcoins as a tool. And I can't say that the interest as a tool is bad - bitcoin started with this.

They are not going to ignore altcoins institutions are no different to us investors, when they see there are profits to be made investing in altcoins and they see the potential and use case of these altcoins they are going to explore these altcoins and they are likely to invest here, it's hard to ignore altcoins like Ethereum Cardano Binance coin among others.

Yes, this is partially true, but I think that you will not argue that after all, institutional investors choose bitcoin when they choose to invest in a crypto. When they choose a crypto-related startup or some kind of crypto-based project, then most likely they are talking about altcoins.

[jaberwock]

I disagree that institutions are not interested in altcoins. There is undoubtedly interest, but it is different from bitcoin. Bitcoin is considered by all market participants as an investment, first of all, and altcoins as a tool. And I can't say that the interest as a tool is bad - bitcoin started with this.

They are not going to ignore altcoins institutions are no different to us investors, when they see there are profits to be made investing in altcoins and they see the potential and use case of these altcoins they are going to explore these altcoins and they are likely to invest here, it's hard to ignore altcoins like Ethereum Cardano Binance coin among others.

I think when money can't be made too much from bitcoin, they will definitely start to move to bitcoin as well. And the biggest deal is, the volume and marketcap of many altcoins are very low, obviously they can't get in with 10 billion dollars like they did to bitcoin, however if you buy 1 billion dollars worth of ethereum today, you are going to easily double that in 2 years, and nobody can do 50% return in wall street that easily, not with 1 billion dollars at least, only very few lucky ones, like one in 10 thousand people may do that and there is like 50k workers anyway.

So long story short alts will get attention for sure, the only problem right now is the fact that bitcoin made them huge sums of money, which means they are not going to start looking into alts just yet, they will probably move to alts only after bitcoin stops profiting them.