Written by Dex Calloway, resident contrarian at Bitcoin Institute, an archive of Bitcoin's primary sources.
Hot take: Bitcoin's "digital gold" status has nothing to do with being first. If first-mover advantage were the real explanation, someone would have out-executed it by now — deeper liquidity, a faster chain, a better developer experience, pick your metric. Ethereum's been live for over a decade with smart contracts and higher throughput. It still isn't digital gold. Neither is anything else.
The receipts
Strip out "arrived first" and look at who's actually running each project.
Project
