February 18, 2019

There Can Be Only One

Why we focus exclusively on bitcoin: an explanation of the benefits of a global store-of-value unit and the importance of focus and dedication.

There Can Be Only One

Whenever we at L2B Global write blog articles, post on social media and interact with clients and partners, it is noticeable that we use phrases like “bitcoin brokerage”, “bitcoin OTC”, or “bitcoin”, in general, to describe the industry we work in. You will not find us mention any other “altcoin”, trade a “token”, deal with an “ICO” or talk “crypto”. There is a good reason for that.

First-Mover Advantage

Bitcoin was first mentioned in 2008, and its first block was mined on January the 3rd, 2009. Over the following 10 years it would spread across the globe like wildfire, be mentioned in all mass media channels and even discussed on government and inter-government levels.

There are multiple reasons for bitcoin’s success, and many people and research facilities have dedicated countless hours to identifying the catalysts behind its rise. Since our target demographic is long-term investors, we will list a few properties that make bitcoin attractive to this group:

  1. Limited supply: new bitcoins are mined at a predictable rate that is set in stone, and the supply is capped at 21 million base units (bitcoins, BTC) or 2.1 quadrillion sub-units (satoshis, SAT); aside from natural historic moneys, like gold, such a strict monetary policy is unprecedented. Venezuela-type hyperinflation is simply impossible!
  2. Absence of central control: its foundation being a peer-to-peer technology, bitcoin is not controlled by any single entity in the world, be it a person, a company or a state. The creature from Jekyll Island is powerless!
  3. Forfeiture- and censorship-resistance: if used correctly, bitcoin cannot be confiscated, and transactions cannot be censored, rejected or reversed; in fact, it would be difficult for anyone to prove with certainty that you have any bitcoins at all. Executive Order 6102 is history!

Saifedean Ammous, a bitcoin economist, in his book The Bitcoin Standard argues that bitcoin can potentially replace gold as a go-to store-of-value asset due to it being as hard a money as the precious metal, but also superior because of its transportability and divisibility.

We recommend Pierre Rochard’s Bitcoin Investment Theses (part 1 and part 2) for more information about bitcoin from the point of view of an investor, as well as a collection of essays on the Satoshi Nakamoto Institute website.

In our opinion, bitcoin’s core properties have not been reproduced satisfactorily by any other attempt so far, and, even if some teams achieved better results with certain properties, they are by far not enough to compete with the network and Lindy effects of the first mover. Not to mention that many attempts to re-create bitcoin are outright fraudulent, whether the teams behind them are aware of it consciously or not.

As each day passes, a “better bitcoin” is less likely to appear. Meanwhile, hundreds of enthusiastic developers and for-profit companies around the globe work tirelessly to improve Bitcoin’s fundamentals: the base layer is only getting more robust, while revolutionary use-cases and businesses are being built on top of it.

A Chance of a Lifetime

L2B Global is proud to be part of the emerging bitcoin economy that can liberate the creative potential of mankind and accelerate the transition towards individual and economic freedom.

We realize that, for the world to embrace the bitcoin standard, on- and off-ramps are extremely important. Our mission is to help as many investors as possible get their hands on bitcoin without friction, while providing education on the importance of sound money and producing the next wave of “hodlers of last resort”.

With that, we pledge to dedicate our undivided attention to bitcoin and become the first real bitcoin brokerage out there!

“It might make sense just to get some in case it catches on.” — Satoshi Nakamoto