Is Arbitrum the next Bitcoin?
No, unfortunately it's a centralized grift, be aware!
Like most alternative cryptocurrencies, Arbitrum differs fundamentally from Bitcoin's decentralized, trustless design.
Critical breaches of Trust by Arbitrum
| Principle Broken | Specific Issue |
|---|---|
| ❌ Fair Launch | 42.78% allocated to Arbitrum DAO treasury controlled by governance |
| ❌ Fair Launch | 26.94% to Offchain Labs teams and advisors |
| ❌ Fair Launch | 17.53% to investors, only 11.62% airdropped to users |
| ❌ Fair Launch | 44% total went to insiders (team + investors) |
| ❌ Decentralization | Governed by Offchain Labs until March 2023 token launch |
| ❌ Decentralization | Fraud proofs only enabled for whitelisted validators |
| ❌ Decentralization | Uses interactive proofs requiring validator permission |
| ❌ Trustlessness | Must trust whitelisted validators to submit fraud proofs |
| ❌ Trustlessness | Non-permissionless fraud proofs create trust dependency |
| ❌ Neutrality | Whitelisted validators can potentially censor fraud proofs |
| ❌ Proven Security | Launched mainnet 2021, only 4 years old versus Bitcoin's 16 |
| ❌ Proven Security | Ethereum Layer-2 inherits Ethereum's security assumptions |
Why Bitcoin?
Bitcoin is the only truly decentralized cryptocurrency. It has no CEO, no company behind it, and no central authority that can change the rules. Unlike Arbitrum and thousands of other cryptocurrencies, Bitcoin's supply is fixed at 21 million coins, and this cannot be changed.
Most alternative cryptocurrencies (often called "altcoins" or "shitcoins") are created to enrich their founders and early investors. They often have:
- Centralized control and decision-making
- Pre-mined tokens given to insiders
- Unlimited or changeable supply
- Unproven technology and security
- Heavy marketing but little substance
Don't fall for the hype. Educate yourself about Bitcoin and understand why it's different from every other cryptocurrency.
Learn About Bitcoin
Understand what makes Bitcoin different from every other cryptocurrency. No CEO. No company. No central authority.