Jimmy Song: There's Daylight Between Bitcoins (BTC) And Crypto Assets

2018 Was The Year "Bitcoin Separated From The Pack"

Jimmy Song, a leading Bitcoin (BTC) educator, developer, and proponent known for his penchant for hats, recently taken to his well-followed update on the cryptosphere. Song, an often outspoken advocate for BTC maximalism and colloquially-dubbed "s *** coin minimalism", claimed that 2018 was the same Bitcoin separated itself from the pack.

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Bitcoin is a "social innovation and movement," as its inherently a form of money – a leading social convention. Song noted that during 2018, Bitcoin has begun to distinguish itself as a "movement," disconnecting itself from the overarching cryptocurrency brand, which includes ICO tokens, utility coins, digital securities, and alternative natively-spawned cryptocurrencies.

This shift has been made evident by BTC's relatively strong performance in the past 12 months, as the flagship cryptocurrency gained Satoshis on almost every year. Bitcoin's resurgence in the market dominance, as BTC's share rose from all-time lows of 32% in early-January to 52% at current.

Song claimed that there's a good reason for this thematic narrative. Song drew attention to, Initial coin offerings. He noted that these projects have "simply not delivered," adding that the predictions about a number of altcoins. Moreover, as BTC tumbled, altcoins fell even further as dreams of "mooning" become quixotic. This inability to "moon," coupled with the lack of adequate development, made investors disconcerted about these projects. He elaborated:

The centralized teams are discovering that raising money, especially in a bull market, it is a lot easier than building a real product that has a market fit. The ICO token buyers are discovering that tokens do not go up forever and that

On the other hand, in Song's eyes, the Bitcoin protocol continued to outperform and see boatloads of growth at a fundamental level. BTC has established itself as money (and a digital form of gold).

Bitcoin Technicals, BTC Performance Have Seen "Significant Progress"

Bitcoin's technical activity, claiming that the Lightning Network, a second-layer scaling solution that facilitates near-instant, basically free, and scalable transactions, has grown at an exponential rate over the past year, only as " demand for Lightning-based hardware, software, and services continue to grow. "In terms of privacy, protocols from MuSig, Taproot, Graftroot, and others have seen" significant progress " semblance of adoption.

As reported by Ethereum World Previously, the number of subscribers on Bitcoin's go-to subreddit and the number of BTC-friendly ATMs boomed throughout 2018 – a positive sign to say the least. With all this in mind, Song wrote that:

In other words, Bitcoin has been in the position of allowing the market to determine what is desirable instead of some central authority. This is another point in which Bitcoin's advantage as a decentralized system shows itself.

Making After BT BT BT BT BT BT BT BT BT BT BT BT BT BT BT BT BT BT BT Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug once once once once once once once once once Eth Eth Eth Eth Eth Eth Eth only only In terms of the economics, Bitcoin has also been shown to be related to BTC.

He brought this skepticism to an interview on Cheddar, an up and coming business-centric media outlet. Song explained to the outlet that the malinvestments in this industry, many of which are destined to altcoins, leaving only bonafide projects standing.

Above the Clouds Title Image Courtesy by Dominik Schröder on Unsplash