WHY KASPA
(from a BITCOINERS perspective):
As a Bitcoiner (former Bitcoin maxi, card recently revoked) I came to the conclusion Kaspa was different than 99.9% of other "shitcoins/cryptos" and deserved to be studied (and smash bought):
LIKE BITCOIN, KASPA is:
- Fair launched/no pre mine
- Open source
- Decentralized/immutable at Layer 1
- Proof of work
- UTXO Model
- Hard capped supply
It stands out because Kaspa:
Took a different approach to other Bitcoin "copies" and started with a different architecture and protocol completely (not like Bitcoin Cash or BSV, etc)
Might solve the trilemma (definitely the closest to doing so on the base layer)
Might actually be closer to Satoshis P2Ps cash system than the current implementation of Bitcoin
Processes 10 blocks per second, with supposedly further growth coming
...
It's my view as a sound money maximalist that when the fiat system inevitably collapses:
Everyone in the future should have cheap, easy access to use a sovereign Layer 1 for Saving AND Payments (questions remain how Bitcoin can do this long term)
...
Other POSITIVES:
The Twitter community makes the Bitcoiners look like boomers from LinkedIn
Less dogmatic, hard core religiosity that Kaspa (as opposed to Bitcoin) has to be everything
The mining hashpower to market cap is enormous, showing it's resilience and miner confidence
....
HONEST concerns (in order)
Network effects. Bitcoin at this point has a clear network effect for cryptocurrency. However, so did the fax machine 35 years ago. Will Bitcoin capture MONETARY network effects from fiat? Remains to be seen...
Known founder. Bitcoin has a clear advantage in having Satoshi anonymous
Pruned nodes. How sure can we be this can equal bitcoins linear blockchin, with each node having a full copy of every block/transaction?
Frequent hard forks. Gives more potential for bad tech/ideas to slip in and take the ethos away from a Nakamoto consensus
Emission schedule. Compared to Bitcoin, Kaspa's already been nearly 95% mined, with the remaining 5% to be mined in the next 10 years
...
So hey, if you ready this and study Kaspa and it's not for you, its all good. We can still be friends.
But if I have to say one thing for the Bitcoin community it's to stop labelling everything a shitcoin UNLESS you can provably disprove the thesis first. You might not agree with it, but should respect there's a lot of thought given to Kaspa, even if it ultimately fails.
Bitcoin has its purpose, it's clear. Kaspa may fill in the gaps.
I don't know what Kaspa will end up being in the future, but there's enough signal to stay around, learn, and perhaps up my exposure.
You do whatever you want, but I've explained my why.