He's probably right. The vast majority will vanish. He’s a legitimate and credible guy, a Bitcoin OG, his voice carries weight – rightly so. Continuing to bet on Bitcoin, the current market champion, seems like the least risky option. The Altcoin Season Index hasn’t fared any better, languishing at a paltry 12/100. Investing in Bitcoin treasury stocks? Makes sense, offers that regulatory comfort blanket. But here's where I think he, and many others entrenched in the Bitcoin maximalist camp, are missing the forest for the trees.

Altcoins: More Than Just Speculation?

It’s tempting to take a broadbrush approach to all altcoins – they’re speculative, overhyped, a waste of time and ultimately doomed. Frankly, the majority of them should very well make that list. We’ve all witnessed the rug pulls, the pump-and-dumps, the projects that raised, minted or promised the moon and ended up delivering … crickets. Don’t throw the whole altcoin baby out with the ICO bathwater. That kind of approach would be throwing the baby out with the bathwater! Third, it misses the mark on recognizing true innovation, search for the passionate communities that are creating real solutions.

Think about it: Bitcoin was once a radical altcoin itself, challenging the established financial order. Now, it's the establishment. If we prevent experimentation and innovation, where does the next wave of disruption come from? The true value isn’t just making you an overnight millionaire, it’s making life better. Innovation never happens from the top down; it’s steeped up from the periphery. And that’s precisely where you are with a lot of these altcoins.

Innovation Thrives Outside the Mainstream

The bigger point Back seems to miss is that when it comes to innovation, it doesn’t usually happen inside the tent. It isn’t imposed from above—it bubbles up from the fringes. That’s because smaller, more agile projects are willing to take risks, subvert expectations, and challenge the status quo.

These aren’t just arbitrary tokens, they’re the very primitives that are the building blocks for our decentralized future. Are they risky? Absolutely. Could they fail? Of course. They embody a boldness to test and to stretch the limits of what can be done.

  • Helium (HNT): Building a decentralized wireless network, incentivizing individuals to deploy hotspots and provide connectivity. This isn't just about speculation; it's about creating a real-world infrastructure.
  • Chainlink (LINK): Providing secure and reliable oracles that connect smart contracts to real-world data. Vital for the growth of decentralized finance (DeFi) and beyond.
  • Ocean Protocol (OCEAN): Democratizing access to data, allowing individuals and organizations to monetize their data while preserving privacy. This aligns with European values around data sovereignty and control.

Back has highlighted the regulatory advantage that Bitcoin treasury stocks have. He's right, to a point. That’s where regulation comes in, adding another layer of security and transparency. It can also have the opposite effect by stifling innovation and favoring established players.

Regulation: A Double-Edged Sword

Think about it this way: regulations are often written by those who already hold power. They often double down on the current system, creating barriers for new entrants to compete. That's why so many of the most disruptive technologies – from the internet to mobile phones – initially flourished outside the regulatory umbrella.

Back supports Bitcoin futures ETFs as evidence of a “new alt season,” bullish on the idea because of the country’s strengthened fiscal management. This trend has the perverse effect of concentrating power in even fewer, larger, regulated entities. It’s a development that, paradoxically, leads in the other direction—in opposition to the decentralized ethos that first gave rise to the cryptocurrency revolution.

Trust me, I get the seductive temptation of safety and security. Particularly when you’re reading headlines of all the major altcoins, including Ethereum and XRP, down double-digits. Fear is a powerful motivator. But fear can’t be allowed to stop us, or make us ignore the incredible opportunity that awaits off the beaten track.

Here’s the truth: most altcoins will fail. A few will change the world. By throwing out the baby with the bathwater, we run the risk of throwing out the next big thing too.

Do your research. Understand the risks. So don’t let the fear of what lies down the road keep you from unlocking the promise a decentralized future has to offer.

This is not financial advice. As always, make sure to do your own research before investing in any cryptocurrency.

Disclaimer: This is not financial advice. Always do your own research before investing in any cryptocurrency.