First, I agree that all coins except a very few are all complete bullshit (especially iota and xyo and machine to machine stuff).

Also, I think you’re completely on point with Steem, it’s my favorite investment by far.

BUT, you completely miss why Bitcoin is digital gold, so I am going to focus on that in this comment because saying what I agree with is worthless to you.

Security is not why Bitcoin is digital gold. That’s just one of the reasons. You have to first understand why gold itself (the real gold) has become the defacto currency used everywhere in the world.

Any object that is rare enough, can be a store of value. Salt and rocks were money at one point. But then what happens is that if the value of salt goes up, people just go to the sea and get more salt, increasing the supply, getting the price down. So money found a place in rare metals, because they are hard to mine.

Gold is by far the hardest metal to mine. No matter how much the price of gold increases, inflation never goes above 3%. And this is why it’s a good store of value. All inflation does is take value from people and give it to miners.

Now bitcoin is even better because the inflation will keep going down as time goes on. So it will be preferred as a store of value.

Furthermore, gold is physical, it can be confiscated. This is what governments did when they moved away from the gold standard. They just said you can’t keep gold at home, you have to keep it in the bank, and all of it will be owned by the central bank, and we will give you paper notes. And that was that.

Bitcoin cannot be confiscated. You can hold millions of bitcoin and they fit in a usb.

Third major point: bitcoin code cannot be updated. Now this statement may be weird because you might think: “yeah bitcoin sucks as a technology it’s very limited”. Bitcoin sucks technologically because it doesn’t get updated. It doesn’t get updated because it doesn’t have a team behind it and no one can agree on what updates to get.

If you try to upgrade bitcoin, you end up with a fork. And that is exactly the point. If you hold bitcoin, you know that what you hold is going to stay what you hold. It’s the ultimate store of value. You don’t want to have everything you own in a currency like ethereum that is going proof of stake tomorrow, proof of shit after two years, and that has reversed transactions because vitalik decided that investors should get their money back. Holding everything in government money is even worse because they litteraly don’t know what they are doing with all this debt and this will all come down crashing one day.

So you look for alternatives. Hence bitcoin. It’s the best currency to hold and sleep on if you just want your money to keep its value. Right now its early days so its potentially going to appreciate a lot before stabilizing. But it will always have an edge against any inflationary currency simply because of the way markets work.

(That said I think bitcoin will go down short term, and i believe that steem is more undervalued than bitcoin compared to their respective potential)