Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Which Altcoins Truly Rival Bitcoin? Max Keiser Says BTC Does It All

by Daily Hodl Staff
May 28, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
ADVERTISEMENT

In a new appearance on London Real, broadcaster Max Keiser of the Keiser Report weighs in on the likelihood that the world’s top cryptocurrency has any true rivals – an altcoin that can really challenge BTC by amassing new users, generating use cases, appealing to the mainstream and growing its network at scale for millions and billions of people around the globe.

The avid Bitcoin supporter delivers his short answer: naah, not really.

In a hard-hitting look at the crypto landscape, Keiser dismisses the lot and claims that the industry is filled with useless coins.

“There’s no coin out there that can do what Bitcoin doesn’t do already or will be able to do shortly. What you’re buying with Bitcoin is security.”

The former stock broker argues that major forks such as Bitcoin Cash and Bitcoin SV are not secure. He calls several other altcoins “pure exit scams”.

“They have huge ‘pre-mines’ that the founders are selling or dumping and making a lot of money. A lot of people are losing money, and they have no use case. So like a Ripple or an Ether, even, is an exit scam. It’s to be avoided. Those are the top coins. 

Then you start going down into many, many more beneath that, and it just becomes lunacy.

If you look at the total crypto market as a whole, Bitcoin right now has 85% of the hash power and 65% of the market cap.  That number is just going to keep going higher. So within five years, Bitcoin will have 99% of the hashing power and 99% of the market cap.

And everything else will be completely marginalized. You already see now the volume in trades. I think Bitcoin now has 90% of all the volume… The daily volume in the other 5,000 coins is so minuscule it’s to be completely, almost, non-existent. So they’re completely useless. They have no purpose whatsoever.”

Keiser calls 2014 to 2017 an era of experimentation when a flurry of new coins came out with many projects attempting to compete with Bitcoin.

“It’s similar to the protocol that runs the internet itself or email itself. When these protocols become entrenched, the network effect expands and they become ubiquitous.”

As for fiat currency, Keiser says the US and UK governments are under extreme stress, along with banks and the global economy.

“You want to have an unconfiscatable, uncensorable store of value that only you control that will get you through the next five years.

The greatest achievement for Bitcoin, probably, to sum it up in one sentence, is that it separates money from the state. Before Bitcoin, the idea of non-state money was inconceivable. It was talked about on the fringes by some economists as being possible. But not until Bitcoin emerged do we have the absolute existence of a hard money, gold substitute that is outside of the state.

So if you are not happy with the state, and you want to opt out, you need to become individually sovereign. The best solution, by far, is Bitcoin.”

l

ADVERTISEMENT


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tschub

Submit a Press Release

Crypto Livewire – Press Releases

  • eToro Adds Chainlink and Uniswap Amid Investor Surge for Crypto
    April 19, 2021
  • TeraBlock Secures $2.4 Million to Build a Newbie-Friendly Crypto Exchange Powered by Machine Learning
    April 19, 2021
  • BlockSwap Network Announces Balancer LBP and Uniswap LP Incentive
    April 19, 2021
  • Raze Network Completes Triple IDO and Balancer LBP Event
    April 19, 2021
  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
  • DigitalBits To Become Premier Choice for NFTs After Litemint Partnership
    April 13, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$55,288.00
$55,288.00
2.27%
Ethereum
$2,155.04
$2,155.04
3.11%
Binance Coin
$504.81
$504.81
3.5%
XRP
$1.30
$1.30
6.36%
Polkadot
$33.81
$33.81
7.06%
Cardano
$1.19
$1.19
4.59%

Spotlight

  • Coinbase Listing To Lift Crypto Space to Greater Heights: CoinShares CSO Meltem Demirors
    April 15, 2021
  • Trader Who Predicted Bitcoin Crash Says Epic Bounce to $70,000 Imminent
    April 19, 2021
  • Criminals Are Abandoning Bitcoin, Says Former CIA Director – Here’s Why
    April 16, 2021
  • Bitcoin Charging to $120,000, Says Veteran Trader Tone Vays – Here’s When
    April 13, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×