Oddbean

Got invited to participate in the “#Bitcoin vs #shitcoin💩” debate. Please share your thoughts or talks and articles you find enlightening. Got it figured out, but would love to hear some strong takes on the topic. Also, what are the most interesting / legit points shitcoiners make in defense of their position? Will #zap the best ideas. Repost for a more thorough discussion. https://i.nostr.build/KrJ45h3BvzuzNtzt.jpg

To defend shitcoins is just stupid and not worth a debate. If anybody "diversifies" into 200 shitcoins, he's just lost and either hoping to randomly bet on "the next bitcoin" or he knows they are all shit but thinks to understand the market better than the bigger fool that will buy his bags. It gets more nuanced with proponents of specific shitcoins that are 100% convinced that their shitcoin is better than bitcoin and it's arrogant to dismiss this possibility blindly. It's not arrogant to not look into shitcoins though, as looking into them is not for free neither, so the precise "why" for the different coins to being pointless might differ but with a 99.99% accuracy, "if it's not Bitcoin it's a shitcoin" is a good heuristic.