There's a common critique that man who participate of the legacy system have when it comes to Bitcoin. To them, the idea that forks exist completely undermine the very thought of scarcity. I guess it makes sense, but only if you don't understand liquidity and decentralization.

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Anyone can fork it

This is not really true. I mean, yes anyone "can fork it" but that is just as valid as me saying anyone can run a code. Well, there's a group of people, small by comparison to the rest of crypto users, with enough knowledge to clone repositories and and fork blockchains.

It's true that these developers can fork anything they want, granted if they deemed it worth to do. But, this does not mean that the fork would have any success or that the cost of forking a blockchain would be offset by the success of the forked project.

In other words, it may cost someone too much time and money to setup nodes, communities, pay for listings on exchanges, and such, a lot more than that person or group of people could extract by then selling the tokens to enthused users.

Yes, there's a number of effective scams out there, effective enough to make this a "business model", but to think this is easy to do, it's to be ignorant of the gargantuan task of getting this off the ground.

Trustless Trust

The reason why Bitcoin is trusted, is because yet it hasn't failed. In simple terms, it's the oldest blockchain out there, and as far as I know it's never been hacked. So, to think that trust is something that people just have, simply because the word blockchain or Bitcoin is attached to the product, is to ignore the context of time.

Yes, protocols and code may have created trustless ledgers, and this is the strong points of blockchain technologies, but humans are humans, and by default we tend to skeptic. There's a reason why the majority of people did not pour their money into BTC when it was just a few dollars. Who knew if this whole thing was going to work? Today however, trust is more than established, and I know more than a few people who prefer holding BTC over any other currency, gold or silver for that matter.

What I do find curiously ironic about some of the critics out there is that they are quick to spout these debunked problems, while at the same time being completely myopic to their logical inconsistencies. The Tweet I'm sharing here is from a member of XRP army, and as you might imagine, he is part of the group of people that believe that XRP will one day replace fiat.

I wonder if he's ever thought about it objectively, I wonder if his mind has worked it out at all.

XRP army member:"You see... the Banks are going to use XRP, because it's fast... and then they are going to destroy the USD, because they got the XRP and it's faster..."

Me: "Give up their power willingly? Why would they do that? Banks control the Dollar not XRP"

XRP shill: "They have no choice... the new standard... bla bla bla bla"

On top of that, I wonder if he knows where XLM came from too. But, I guess being ignorant is fun sometimes, more so when you are trying to sound smart on twitter.

MenO