I've been subscribed to r/ Bitcoin for a while now. For those who don't know you can't even mention other cryptos in that sub (unless you're writing an essay on why ETH is a comscam). The mentality there is very much: If it isn't Bitcoin it is complete trash and a scam.
There are some good points there but I also think they hate altcoins more so than even r/buttcoin.
Their main point for all alt coins being a scam/ponzi scheme is that BTC was created purely for the technology and none of the creators did it with riches in mind (or so we believe). This is unlike every other coin which are mostly created with the idea that it will go up in value and that they could sell one day. They believe that these coins aren't decentralized like BTC is. ETH was sold to early investors and ETH also had millions of coins pre mined which they sold off 80% to the public. But even with the pre mine ETH has still thrived and performed well and we're at a point where there is so much volume and its been so long that the presale doesn't even matter at this point anymore.
I think they have a valid point with that argument, but they seem to think that makes the coin a scam which is just stupid thinking IMO. But it is interesting knowing that every single coin created since BTC has been made with profit in mind. Its a double edged sword because that thinking drives innovation but at the cost of people being greedy.
My main counterpoint to BTC is that if BTC was released last year and wasn't the first crypto ever it would be been seen as a complete shitcoin from a technological standpoint. Worst transaction speed than most modern coins, bad fees compared to most modern coins and how NFT's as a technology couldn't exist using BTC.
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