Written By 1Bitcoin.ca, November 22nd, 2021

One of the most common questions we get is “Hey, what are your thoughts on ABC coin? What about XYZ, they are working on smart contract….Bitcoin is old tech. The blockchain is interesting.” 

At 1Bitcoin.ca, we are focused exclusively on, you guessed it - Bitcoin. In our opinion, after 1000’s of hours of research, we have decided it is imperative for us to focus on Bitcoin only. The free market is a beautiful thing and we will see the evolution of countless industries. Just keep in mind one thing when you compare Bitcoin to any other coin: 

One is a decentralized monetary network protocol that no one controls. It is the first, most secure and most liquid asset that is being adopted by nations and corporations around the world. The money layer of the internet. The other is a centralized entity with a marketing department. A company selling a story or trying to find a use case. 99.9% of the junk coins you see will not survive the decade. There have been 1000’s over the last 12 years. 

Bitcoin can not be recreated in this day and age. One of Bitcoin's biggest assets is it's birth in the dark - not as a big marketing launch created by a tech company. This is an unrepeatable phenomenon as there will never be another asset with that creation environment. The entire premise of digital scarcity means that there is nothing after Bitcoin. The scarcity rests on the fact the bottom number encompasses everything. The alt coins, along with everything else, falls in the top denominator. 

A new foundation is being built on the Bitcoin protocol. A sound monetary network that allows everyone to operate on a fair and open platform. Network effects usually converge on 1 most widely accepted protocol. We don’t use multiple internets, and we won't use multiple forms of money. There is a clear, outright winner. Bitcoin is the settlement layer for all internet transactions. 

Bitcoin is an asset that has accreted at over 100% annually for over 12 years. A revolutionary technology to help bank the unbanked and most importantly, help humanity from being stolen from. Bitcoin is going to bring freedom and change to the world in ways that most can't imagine. 

The ‘crypto industry’ is just an extension of the current financial system. VC’s who have inside knowledge buying coins for pennies on the dollar, and dumping them on unsuspecting investors. Did you know Ethereum had a 70% premine? Most people don't. This industry will be looked back on as the Pets.com era of the Internet bubble. Crypto is the penny stock / casino for speculators while Bitcoin is the blue chip fortune 500 company. 

Choose carefully. There is a difference between gambling/speculating and investing. 

People who are new to Bitcoin suffer from unit bias. They want to buy more of something that is cheaper thinking they will have a better upside. It’s like buying tin because it is cheaper than gold, in the hopes that tin will be worth more per ounce than gold in the future.

Diversification in this ecosystem is a misnomer. Bitcoin is the only worthwhile long term investment as it has already won the contest on being the best store of value.  The global addressable market is over $120,000,000,000,000. The price is merely a reflection of the market cap. Bitcoin currently sits at just over a trillion. As global adoption continues, the price will reflexively increase as well. 

None of what we are saying here is new. There have been thousands of people who have covered, reviewed, and discussed Bitcoin. We have a compilation of our favourite resources here. 

Our goal is to educate the public and help them avoid making common mistakes that most people make when first getting into Bitcoin. You can tell someone a stove is hot a hundred times, but it is the single time they touch the stovetop that teaches them the most. While we understand the need for the free market to play out, we do not comment on any other digital assets. We are here when you want to learn more about Bitcoin specifically.