Cryptocurrencies copying Bitcoin not really making the cut, experts say

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Cointelegraph’s Joseph Hall interviews bitcoin (BTC) advocate Pierre Rochard and Morgan Rochard, host of the Bitcoin for Advisors podcast, at the Surfin’ Bitcoin 2022 event held in France. The group talked about how France could attract more miners, where bitcoin comes in terms of financial planning and the differences between bitcoin and other cryptos.

According to Pierre Rochard, who also works at the mining firm Riot Blockchain, there are two ways for France to attract large-scale bitcoin miners. The first is to provide assurance in terms of policies on bitcoin mining. In addition, the country must provide a power grid that is conducive to miners. he explained:

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“We are seeing Japan now opening or changing policies on nuclear power, and I think France should reinvest in their nuclear power and in fact they should be able to attract bitcoin miners more easily. ”

Apart from mining, the group also talked about financial planning. Morgan Rochard, who is also a certified financial planner, discusses where bitcoin comes in when it comes to financial planning. She shared that in many cases, the conversation in financial planning revolves around understanding inflation and money. He said:

“Most of my profession is about saying, hey, that cash you have, stop having all that cash. We need to move this into an investment immediately because it’s, as Sailor put it, it’s a melting pot. It’s an ice cube.”

Morgan also said that some clients understand bitcoin quickly and are willing to put a portion of their portfolio into it. “The financial planning situation really helps people think about it,” she said.

related: Bitcoin Advocate Issues BTC as Solution to US Student Loan Problems

When asked about other cryptocurrencies, the couple laid out their bitcoin maximalist hat and explained how BTC differs from other coins such as Dogecoin (DOGE) and Ether (ETH). Morgan said:

“Dogecoin is something like […] But it’s basically a copy of bitcoin, but it’s still legal, isn’t it? Because they are constantly increasing it. And the same is the case with Ethereum. They claim there will be a limit, but in reality there is no limit because they don’t even know how much supply they have.

Pierre also explained how the bitcoin protocol is designed to reduce uncertainty. The mining executive highlighted that any change in the parameters of Bitcoin would affect this configuration. “Bitcoin is the best engineered digital monetary network and then everything else is worse,” he said.