Unpopular opinion: Bitcoin is worthless. Read why.This idea goes against what BTC whales want you to believe, but it’s my educated conclusion. Let me explain why, and it might change your perspective.
The Origins of Bitcoin
Bitcoin was the first cryptocurrency, created by Satoshi Nakamoto in 2008 as the pioneer of blockchain technology.
Big BTC holders claim it’s “digital gold” with a limited supply. Influential figures and institutions like Michael Saylor, BlackRock, and Fidelity promote this narrative, urging you to adopt their logic and buy in.
It’s true that with such big players and media support, Bitcoin’s value has grown tremendously. But does that mean their claims are valid? Let’s dive deeper.
The Problem with FOMO
Today, a coin like “Fartcoin” can pump 50% and make it into the top 100 cryptos. Why? Because convincing people to buy something often works, even if the product lacks long-term value or sustainability. This phenomenon, driven by FOMO (Fear of Missing Out), does not guarantee intrinsic worth.
Let’s Get Logical
Crypto is inherently complex and difficult for the average person to understand. Many simply follow what “smarter” people or influencers say on social media. Even major institutions like BlackRock and traditional finance (TradFi) players have only been in the Bitcoin game for a few years—they’re newcomers to the space.
Now, ask yourself: If Bitcoin is the first cryptocurrency, does that automatically make it the best?
Do we still drive the first cars ever created?
The Flawed First-Mover Advantage
BTC whales want you to believe that the first is the best and will always remain so. They ignore the concepts of improvement, innovation, and technological advancement. Essentially, they’re asking you to buy the “first car” because they own a lot of them.
In reality, Bitcoin was an experimental product that proved finance could exist without traditional banks. It was revolutionary at the time, but technology has since advanced far beyond Bitcoin. Modern blockchain projects, Layer 1 solutions, NFTs, and smart contracts are faster, more sophisticated, and more innovative.
Bitcoin is the “first car,” but it belongs in a museum. The financial system, however, is still riding it to extract as much money as possible before its limitations become widely apparent.
Bitcoin’s Lack of Utility
The internet became mainstream within five years, revolutionizing communication, entertainment, and commerce. Yet after 18 years, Bitcoin remains largely useless—propped up by those who own it and fueled by speculation rather than utility.
This focus on Bitcoin has stifled innovation, as other promising crypto projects struggle to gain attention due to the media’s obsession with BTC.
Why Bitcoin Is NOT Digital Gold
The comparison between Bitcoin and gold is misleading and fundamentally flawed:
Gold is a physical, tangible asset. It cannot be duplicated, and there are costs associated with mining, refining, and maintaining it. It has intrinsic value due to its beauty, utility, and millennia-long cultural significance.
Bitcoin, on the other hand, is a digital object. By nature, digital assets are infinitely reproducible at no cost (copy function in the computer). While Bitcoin’s cryptographic system creates artificial scarcity, its utility can be replicated and improved by countless other projects.
The Fragility of Bitcoin’s Protection
Bitcoin’s value relies on its blockchain’s cryptographic protections, which prevent duplication and ensure secure transactions. However, no digital protection has ever been immune to hacking. Over time, as technology advances, it’s possible someone could crack Bitcoin’s security, change the blockchain, or access wallets by breaking passphrases.
Do you know any protection that lasted forever? Ask Apple and their DRM, ask Microsoft with their software projections.
If that happens, Bitcoin’s value could plummet to zero. Wall Street knows this, and they are profiting while they can. When a hack or major failure occurs, they’ll exit the market, leaving retail investors to bear the losses.
Conclusion
Bitcoin is not “digital gold,” nor is it a reliable store of value. It was an incredible invention that paved the way for blockchain technology, but its time as a leader is nearing its end. Innovation and technological progress have outpaced Bitcoin, and the idea that it will remain dominant forever is a narrative pushed by those who stand to gain the most from it.
Thanks for reading.
