FUD BUSTER - "bitcoin can be copied"

Bitcoin is worthless artificial gold. Stop that. Bitcoin consumes more energy in entire countries. Stop that. It's a way to both hide dirty money and destroy the environment at the same time. Stop that. Bitcoin just seems like a scam.

Stop that. And so I regret the whole business. It's antisocial, stupid. We've got debit cards. It's not like we don't have a payment system. Stop that. Dealing Bitcoin and shut the fuck up about Bitcoin?

You're money hungry opportunists. Stop that. This is the FUD buster line. Please leave your name, your FUD, and your response after the beep.

Hey, Max. It's q and a. The 4 that I'd like to cover is the fact that Bitcoin can be copied. So at the protocol level, this is absolutely true and is something that many, many people have already done. In fact, there are literally hundreds of copies of Bitcoin.

Each usually has a minor tweak to the code that claims to make it faster or cheaper. Almost always, these improvements come with huge trade offs that prevent them from gaining any traction on Bitcoin's massive network effects. These copies often have an unfair launch carried out purely to enrich their founders.

Their design usually makes it very difficult for the average user to participate in the network in a sovereign manner as with bitcoin. This means that these projects quickly become centralized resulting in few parties that have a large influence over any changes, a little bit like the legacy system we have today.

Anyone can clone the open source bitcoin code at any time and launch their own coin. What they cannot clone is the acceptance, name recognition,

security, and development focus that only the bitcoin network enjoys. People have been cloning bitcoin since 2011, and not a single one has come close to matching bitcoin's market cap and network effect. Using football, one of the oldest sports in the world, as an analogy,

consider the infrastructure built around that sport in terms of history, advertising, stadiums, team branding, grassroots focus, TV scheduling, education and training, and all of the indirect jobs that are built around that sport. Now imagine someone were to marginally change the rules and call their new sport, feetball.

How much attention do you think that would attract compared to the current game? Even if the newly proposed feetball were to gain minor initial support for their new and improved rules, the legacy game can simply implement those minor tweaks and continue to dominate. In summary, bitcoin can absolutely be copied,

but its gargantuan network effect cannot. It would take a proposal that is exponentially superior with features impossible to implement on the current Bitcoin network for people to even consider moving their time and attention elsewhere.

Thanks for listening. And if you can think of someone who has thrown this exact thud at you, maybe over the dinner table, maybe when Bitcoin price is down over Christmas, and they throw it in your fucking face, you can send them this file.

If you're listening to this and you can think of some more FUD that needs destroying, email me or write to me on Twitter. You can suggest someone you think would be great for battling the FUD as well. And together, we will beat the bullshit.