There is a strange myth that persists, that bitcoin is somehow not a great money because it “doesn’t do anything”.
This is a very weird statement on it’s face, kind of like staring at a $50 note and shouting “come on do something useful!” or meeting an Olympic Gold Medal Swimmer and opening up with “I see you can’t code” - it's just not relevant to the matter at hand!
Money isn't valuable because it does something else useful. Money is useful because it is valuable.
The job of money is to have value, have a liquid market for exchange.
A good money would exhibit a few simple propeties:
You should be able to give your money to someone.
It should be hard for someone to steal it from you.
It should have a value.
If you put it under your bed for 5 years it shouldn't be worth less than it was.
If you give it to someone on the other side of the world it shouldn't be worth less than it is if you hand it over in person.
You should be able to check it isn't fake!
Bitcoin is good at each of these as it is scare; and being digital can travel without friction anywhere you need it.
The useful myth unfortunately leads to people attempting to add "new features"
It's like bitcoin but it's wearing a hat!
It's like bitcoin, but its also a computer!
It's like bitcoin but it's wearing trainers so it's faster!
The truth is that each of these features can simply be added (and have) to bitcoin.
I believe this is a fundamental difference between bitcoin and most of the alternative coins.
Bitcoin is content to be a good money, safe in the knowledge that other features can be layered around it.
After all bitcoin is digital and lives on the internet, so it can be used anywhere there is a computer program and do anything the internet already does, just use to pay for things!
The problem with trying to force other functions into the money itself is that it makes the money itself more complex.
In the technology world complexity makes things hard and expensive, which naturally means you lose other properties which would make a good money, life is all about trade offs.
Bitcoin makes the sacrifices it does so that it can remain simple, which in turn allows it to live on the internet with no-one in charge.
This is good as it means, no-one can simply change the rules you play by, in order to get special privileges for themselves.
Where you see complex forms of money, ask yourself if you would prefer to use the money which is fair and equal and follows the rules for everyone. Or the money in which a small group of people get to change the rules to benefit themselves at the expense of everyone else.
If you really want your money to be a computer or wear a hat I would suggest simply using a computer or buying a hat and if you need to pay, use bitcoin.