Last March 2025, the heart of Lugano’s PoW.space buzzed with energy, fueled by critical thinking and unapologetic Bitcoin maximalism. The Accademia S₿AM hosted a full house of cryptocurrency enthusiasts and skeptics for a lively debate inspired by the popular “change my mind” format. The challenge? To debate the bold thesis: Bitcoin is the only digital asset that matters.
Leading the charge was Giacomo Zucco, firmly taking the Bitcoin-only stance. He declared that every cryptocurrency project outside of Bitcoin is either irrelevant or ultimately harmful. “Bitcoin is money, everything else is just noise,” he stated, setting a clear tone for the evening.
On the opposing side, three challengers came prepared. Among them, Wildcarder (Giuliano) shared his journey through DeFi and token economies, while Massimo Morini, with his deep experience in traditional finance and exposure to nearly every blockchain protocol, offered a more nuanced perspective: “Even if Bitcoin is the best monetary invention, not everything needs to be Bitcoin.”
Key Highlights
Intellectual Crossfire
The debate quickly dove into hot topics—from DeFi and smart contracts to governance models and blockchain standardization. While challengers praised Ethereum’s flexibility and the usefulness of tokenization, Zucco stood firm: “If it looks like Bitcoin, behaves like Bitcoin, and is decentralized like Bitcoin—great. But if it has a token, it’s a problem.”
On Permissioned Blockchains
Morini introduced Swissledger, a permissioned blockchain with no token and zero fees, validated by trusted institutions such as Tether, Swisscom, the State Bank, and the Canton of Ticino. The goal? Use blockchain technology for transparency rather than speculation. “It’s not perfect,” he admitted, “but it’s a step toward institutional accountability.”
On Altcoin Performance
Data was laid out plainly: even during the cryptocurrency bull market, only a handful of altcoins outperformed Bitcoin, while most lagged behind. “Why not just leverage Bitcoin instead of gambling with noise?” Giacomo challenged. The room fell silent.
On Governance and Decentralization
The conversation shifted to the nuances of decentralization. It’s not enough for a system to be technically decentralized—governance plays a crucial role. The consensus? Without decentralized governance, decentralization is just a facade.
Final Thoughts: Bitcoin-Only or Bitcoin-First?
The evening wasn’t about converting everyone to Bitcoin maximalism. Instead, it aimed to sharpen ideas and provoke thoughtful discussion. Even critics of the Bitcoin-only approach admitted that Bitcoin remains the most robust, censorship-resistant monetary network in the cryptocurrency space. As Morini wisely noted: “When you’re starting from a legacy system like SWIFT, almost anything is an upgrade.”
Still, the crowd clearly favored signal over noise. Respect for Satoshi Nakamoto’s original design echoed throughout the room. As the applause filled the space, one message stood out loud and clear:
Bitcoin is here to stay. Everything else? Prove it.
Lugano
