Why I’m hedging out of Bitcoin

I’ve been a bitcoin holder since 2013, never held another coin before. But recently I’ve started feeling like the bitcoin community is at risk of losing its dominance. Now while that may seem obvious from the market cap movements, I started feeling like this before the gap closed so much.

I have spent years browsing and commenting in r/bitcoin and while the consensus there has always been that other coins are shit, it’s more important now than ever before to accept that other coins have merits that bitcoin could learn from, integrate or at least accept are good and a possible route.

I feel in general the bitcoin community in that sub is too arrogant. Arrogance leads to lack pressure to improve and in such fast moving technology, that’s a real concern for me. It’s possible that is just in the echo chamber of that sub, and externally the consensus is less one directional.

Anyway, this morning I was temp banned for a year for being a ‘shitcoin spammer’ after someone asked what other good cryptos there are and I said ethereum. After the mod called it a shitcoin I said he was stupid or uninformed if he genuinely believed that. Probably not the best way to go, but I’m sick of the arrogance. We messaged for a bit privately and his arguments were emotional hatred of other coins rather than logical. Not a good sign from a moderator.

I feel like arrogance is risking bitcoin’s dominance too much to not be hedged. Once the momentum has flipped to another coin, it will be very difficult for bitcoin to get it back. I’m not sure the community is flexible enough to adapt to what is needed for it to stay number one. That hurts to say after holding for so long and speaking so highly of it to friends and family.