Did you hear about the next bitcoin? There’s this little-known cryptocurrency that experts are tipping to be bigger than bitcoin. This is your chance to get in on the ground floor and join the next great wealth creation event. You might have missed bitcoin and ethereum, but you haven’t missed the boat, because the next bitcoin is right here. But quick! You’ll need to get in fast before the masses find out.
Also read: Kumamoto Electric Company and OZ Mining Corporation to Start Mining in Southern Japan
X is the New Bitcoin
Depending on what publications you read, and how desperate they are for hits, you might have read that any one of the following is set to be the next 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 next bitcoin every single day of the year. The site has a peculiar obsession with the notion that XRP could take bitcoin’s throne, leading the more conspiratorially minded to muse whether Forbes could have been a benefactor of Ripple’s bottomless warchest.
Forbes and its singular obsession with ripple.
To understand why Ripple/EOS/Some Other Altcoin will not be the new bitcoin, it is necessary to understand what the mainstream media means by such statements, aside from the obvious clickbait. When the MSM or James Altucher (remember him?) promises that X will be the next bitcoin, they aren’t referring to their anointed altcoin’s censorship-resistance, decentralization, or versatility as a store of value and medium of exchange. What they’re referring to is its ability to moon in record time, making its holders stupidly rich.
Beware the Conflation Fallacy
Even if we overlook the flaws in the likelihood
