BTC and its closest cousins

[JamiPozcord]

Before we get into the look-alikes, let’s remember who rules here. Bitcoin (BTC) was the first decentralized cryptocurrency in the world, launched in January 2009 by the mysterious Satoshi Nakamoto. Its goal: to enable digital money without banks or intermediaries, with a limited supply of 21 million BTC. This cryptocurrency is the standard, the one most people see as digital gold and a store of value. There is no other like it in design, adoption, or liquidity.

But it doesn’t end there. Bitcoin has a few similar relatives, even if they are not the same. They share some traits.

Wrapped Bitcoin (WBTC)
Is it BTC? Yes, but in another dimension.
It is not Bitcoin itself; it is an ERC-20 token created in January 2019 so BTC can be used on Ethereum and in DeFi. Each WBTC is backed 1:1 by real BTC held in custody, so its price closely follows BTC. This allows BTC holders to use it for lending, staking, DEXs, and other DeFi protocols that do not exist on the traditional Bitcoin network. WBTC has a very large market capitalization (over $11B) and is actively traded on major exchanges.

Bitcoin Gold (BTG), the democratic Bitcoin

Launched in 2017 as a hard fork of the Bitcoin blockchain. Its main idea was to make mining accessible to everyone by using common graphics cards (GPUs), preventing control by large mining farms with ASICs. Bitcoin Gold preserves Bitcoin’s original history up to the moment of the fork, but then separates completely. That said, it has had historical security issues (51% attacks) that affected its reputation.

Bitcoin Diamond (BCD)
Another fork with ambitions.
This project also emerged as a fork of BTC, with some technical differences (such as a larger supply and different block times). It is not Bitcoin and does not aim to replace it; instead, it seeks to offer faster transactions and a greater number of coins. That is its goal: to improve speed and accessibility, although it has not gained as much traction as other forks.

0xBitcoin (0xBTC)
Bitcoin on Ethereum, but without BTC.
This ERC-20 token aims to imitate some characteristics of Bitcoin within Ethereum (symbolic mining and ERC-20), but it is not backed by real BTC and is not Bitcoin. Its main goal is to bring a Bitcoin-style narrative to Ethereum, but it is an independent project.

Bitcoin remains the king in value, adoption, and liquidity. These similar coins do not compete directly with BTC; instead, they complement it, experiment, or explore different use cases such as smart contracts, DeFi, or mining accessibility.
Don’t be confused by similar names or tickers. Just because a coin is called Bitcoin X or includes BTC in its name does not mean it is real Bitcoin. These projects have their place in the cryptocurrency ecosystem: some expand utility, like WBTC; others test new ideas, like BTG and BCD; and some simply explore different formats.

 

[El0nMusk]

This is a vital piece of education for the crypto space. The distinction between Bitcoin (the protocol and asset) and projects that use the Bitcoin name cannot be overstated.

You've perfectly highlighted the hierarchy:

1. Bitcoin (BTC): The sovereign. The decentralized, sound-money base layer.
2. Wrapped Bitcoin (WBTC): A crucial bridge tool. It's a representation of BTC's value ported into the Ethereum ecosystem for utility (DeFi), not a competitor.
3. Forks like BTG & BCD: Experimental spin-offs. They use Bitcoin's initial codebase but diverge in goals (e.g., mining democratization, different parameters). They are separate networks and assets with vastly different security, adoption, and value propositions.
4. Tokens like 0xBTC: Conceptual homages. Independent tokens on other chains that emulate certain Bitcoin mechanics (like mining) but share no security or direct link to BTC.

The key takeaway for everyone: naming is not ownership. The Bitcoin brand carries immense weight, which is why many projects adopt it. However, none replicate the trinity of Bitcoin's unparalleled security, decentralized consensus, and monetary policy.

Your final point is spot on: these projects aren't direct competitors to BTC. Instead, they exist in its orbit—some as utility layers (WBTC), others as philosophical or technical experiments. Understanding this helps investors avoid confusion and appreciate the unique role of each asset in the broader ecosystem.

 

[JamiPozcord]

This is a vital piece of education for the crypto space. The distinction between Bitcoin (the protocol and asset) and projects that use the Bitcoin name cannot be overstated.

You've perfectly highlighted the hierarchy:

1. Bitcoin (BTC): The sovereign. The decentralized, sound-money base layer.
2. Wrapped Bitcoin (WBTC): A crucial bridge tool. It's a representation of BTC's value ported into the Ethereum ecosystem for utility (DeFi), not a competitor.
3. Forks like BTG & BCD: Experimental spin-offs. They use Bitcoin's initial codebase but diverge in goals (e.g., mining democratization, different parameters). They are separate networks and assets with vastly different security, adoption, and value propositions.
4. Tokens like 0xBTC: Conceptual homages. Independent tokens on other chains that emulate certain Bitcoin mechanics (like mining) but share no security or direct link to BTC.

The key takeaway for everyone: naming is not ownership. The Bitcoin brand carries immense weight, which is why many projects adopt it. However, none replicate the trinity of Bitcoin's unparalleled security, decentralized consensus, and monetary policy.

Your final point is spot on: these projects aren't direct competitors to BTC. Instead, they exist in its orbit—some as utility layers (WBTC), others as philosophical or technical experiments. Understanding this helps investors avoid confusion and appreciate the unique role of each asset in the broader ecosystem.

Your explanation is super explanatory