Home Ethereum Cryptocurrencies Copying Bitcoin Don’t Really Make a Difference, Experts Say

Cryptocurrencies Copying Bitcoin Don’t Really Make a Difference, Experts Say

0
Cryptocurrencies Copying Bitcoin Don’t Really Make a Difference, Experts Say

Cointelegraph’s Joseph Hall interviewed Bitcoin (BTC) defends Pierre Rochard and Morgen Rochard, the hosts of the Bitcoin for Advisors podcast at the Surfin’ Bitcoin 2022 event held in France. The group explained how France can attract more miners, where Bitcoin comes in in terms of financial planning, and the difference between Bitcoin and other cryptos.

According to Pierre Rochard, who also works at mining company Riot Blockchain, there are two ways for France to attract big Bitcoin miners. The first is to provide assurances in terms of bitcoin mining policies. In addition to this, the country should provide a miner-friendly power grid. He explained:

“We see that Japan is now opening up or changing its nuclear energy policies, and I think France should reinvest in its nuclear energy and really should be able to attract bitcoin miners more easily.”

Besides mining, the group also discussed the topic of financial planning. Morgen Rochard, who is also a Certified Financial Planner, explained where Bitcoin comes into play in financial planning. She shared that in many cases the conversation about financial planning revolves around inflation and understanding money. She said:

“Most of my profession is to say, hey, that money you have there, stop holding all that money. We have to turn it into an investment immediately because, as Saylor said, it’s an ice cube that’s melting .

Morgen also said that some clients pick up Bitcoin quickly and are willing to invest a portion of their portfolio in it. “The financial planning situation really helps people think about it,” she added.

Related: Bitcoin Advocate Offers BTC as Solution to US Student Loan Problems

Asked about other cryptocurrencies, the couple put on their Bitcoin maximalist hats and described how BTC is different from other coins like Dogecoin (DOGE) and Ether (ETH). Morgan said:

“There is something like Dogecoin […] but it’s basically a copy of bitcoin, but it’s still fiat, right? Because they constantly inflate it. And the same with Ethereum. They claim there would be a cap, but there really isn’t a cap because they don’t even know how much they have in reserve.

Pierre also chimed in, explaining how the Bitcoin protocol is designed to minimize uncertainty. The mining executive pointed out that any change in Bitcoin’s settings will affect this setup. “Bitcoin is the best designed digital currency network and everything else is worse,” he said.