In Europe, “Bitcoin only” is becoming a growing trend as more and more consumers and businesses strengthen their willingness to see Bitcoin (BTC) as the only digital asset worth holding.
Bitcoin-only exchanges and brokers are the place to collect Satoshi, not “old” on Ether (ETH) or trade “junk” that looks like an “investment investment”.
This was stated by the leaders of exchanges and brokers who only work with Bitcoin, including CoinCorner, FastBitcoins, Relai, Bittr, Pocket Bitcoin and Bitcoin-lyon. Cointelegraph spoke with the CEOs and founders of these European bitcoin brokers to find out why they only trade bitcoin and why you should build a company on this belief.
Separation of money from the state
First, according to FastBitcoin’s CEO Danny Brewster, “Bitcoin is our only hope of disconnecting money from the state; this is the only opportunity we will ever have to achieve such an achievement.” This is a once in a generation – and possibly an opportunity for life – to extract money that prints money from the hands of the state.
Bitcoin takes the belief in money from the hands of the state, and replaces it with mathematics. Source: Bitcoin Visual
Julian Liniger, CEO of Relai in Switzerland, elaborates on this idea, adding that Bitcoin is incomparable: “It is the only resource that is truly decentralized, ie it does not have a leader or management team, so it is really uncensored and can not be censored. confiscated. ”
In fact, “digital scarcity can only be created once – that is, the state of the world where there were no functioning cryptocurrencies in 2008 could never be recreated just because Bitcoin exists today,” said Robin Watermann, CEO of Bitcoin Switzerland. But it was led by Holland Bittr, the Cointelegraph reported.
Brewster explains that for every new digital currency created after Bitcoin, there is an inherent risk of government interference:
“No government will ever allow another network or technology to succeed like Bitcoin if Bitcoin fails.”
Jimmy Chambrad, co-founder of Bitcoin-lyon – the only stock exchange in France where you can buy bitcoin with fiat money – stressed that while it is the key to separating money from the state, bitcoin is “resistance money”. Essentially, “opposing censorship is crucial to individual freedom.”
He explained that France was founded on “freedom” or freedom, and Eugene Delacroix’s famous painting “Liberty Leading the People” was so loved that it appeared on a 100-franc note in an ironic twist.
Speaking of the introduction of Bitcoin, Chambrad added that “Philosophically speaking, Bitcoin allows the citizen to regain economic control and gain freedom.”
The painting “Liberty Leading the People” ironically appears on the former French 100 franc coin (center right). Source: NumisCollection
While the thread of freedom binds the bitcoin belief system, according to Pocket Bitcoin co-founder Mathias Koehler, the deeper implications of separating the power of money creation from government through the use of “money that works the same way and is equally accessible to all” is enormous. “Change the world,” said Danny Scott, CEO of CoinCorner.
“We are here to change the world, we do not take money from players.”
Believe in Bitcoin> Profit from people
Interestingly, the only bitcoin business model shows a concerted effort to avoid selling “junk,” according to Brewster and Waterman, and what Scott calls “taking money from players” to buy altcoins, or “chitcoins.”
Each Bitcoin exchange leader commented exclusively on the altcoin business model, lamenting the simple altcoin exchanges such as Coinbase, Kraken and Gemini generate “short-term profits” by selling “as much shitcoin as possible.”
Waterman went on to explain that the more trades that happen on the app, the higher the trading commissions and the higher the revenue. He understands that “[altcoin sales] make sense from a business standpoint.” By the way, Coinbase derives most of its revenue from trading fees, which Strikes Jack Mullers (another Bitcoin-only professional) has aimed at in the past.
For non-bitcoin brokers, belief in the long-term benefits of accepting bitcoin is far greater than what Scott describes as “short-term loss of income by not adding hundreds of altcoins.”
Brewster agreed and stressed:
“We are also willing to part with the early and fairly simple profits we can make by offering our customers another alternative casino / chi.