Did you hear about the subsequent bitcoin? There’s this little-known cryptocurrency that experts are tipping to be bigger than bitcoin. This is your possibility to get in on the belligerent building and join the subsequent good resources origination event. You might have missed bitcoin and ethereum, but you haven’t missed the boat, because the subsequent bitcoin is right here. But quick! You’ll need to get in quick before the masses find out.
X is the New Bitcoin
Depending on what publications you read, and how unfortunate they are for hits, you might have review that any one of the following is set to be the subsequent bitcoin: EOS, Verge, Zcash, and NEO. Today it was Stellar. Next week it will probably be IOTA or Tron or some other shitcoin. In Forbes, Ripple is the subsequent bitcoin every unaccompanied day of the year. The site has a rare mania with the idea that XRP could take bitcoin’s throne, heading the more conspiratorially disposed to troubadour either Forbes could have been a champion of Ripple’s unfounded warchest.
To know because Ripple/EOS/Some Other Altcoin will not be the new bitcoin, it is required to know what the mainstream media means by such statements, aside from the apparent clickbait. When the MSM or James Altucher (remember him?) promises that X will be the subsequent bitcoin, they aren’t referring to their anointed altcoin’s censorship-resistance, decentralization, or flexibility as a store of value and middle of exchange. What they’re referring to is the ability to moon in record time, creation the holders stupidly rich.
Beware the Conflation Fallacy
Even if we disremember the flaws in the odds of another cryptocurrency replicating bitcoin’s characteristics and concentration only on price, the ‘X is the subsequent bitcoin’ evidence is still invalid. That’s because of something famous as the conflation misconception aka comparing apples to oranges. Here are a few examples:
“My sports group kick Rovers 1-0 last time, who kick City 2-0 at the weekend. Therefore, when we play City subsequent week, we should kick them 3-0.”
“Binance launched an sell around an ICO last year and now creates $1 billion a year. If my plan does the same, it’s sure to turn a unicorn.”
“Ripple is trade for underneath $1 today, just as bitcoin once was. Ergo, if sputter adoption keeps growing, it could one day be value as much as bitcoin.”
Regular readers of this site will already be wakeful of this, and are doubtful to tumble for the “next bitcoin” meme. But typical members of the public, who are more trusting and reduction knowledgeable, are easy chase for reporters shilling shitcoins out of ignorance, greed, or a enterprise to fuel FOMO. Cryptocurrency investing is unsure enough but insane publications convincing the exposed to chuck their life assets at electroneum.
Searching for the subsequent bitcoin is like acid for the subsequent wheel. There won’t be and can’t be one because bitcoin was that wheel. There might be cryptocurrencies that are faster, flashier, and more feature-rich than bitcoin. One day there might even be some that are more costly or more widely used than bitcoin. But they are doubtful to reinstate bitcoin, and are even unlikelier to produce the same exponential gains as BTC/BCH. Besides, even if there was a new altcoin with 1000x potential, by the time Forbes or the Express start shilling it, you’ve already missed the boat.
Stop looking for the subsequent bitcoin. There’s no such thing.
Do you think mainstream media are guilty of compelling certain cryptocurrencies as “the subsequent bitcoin”? Let us know in the comments territory below.
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