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The Ethical Argument for Bitcoin Maximalism: “Over 8 years as a journalist, I’ve written 2000+ articles about cryptocurrency, interviewing advocates for every kind of coin. Today, I support Bitcoin only and believe the crypto market is fundamentally broken.” [Pete Rizzo]

The Ethical Argument for Bitcoin Maximalism: “Over 8 years as a journalist, I’ve written 2000+ articles about cryptocurrency, interviewing advocates for every kind of coin. Today, I support Bitcoin only and believe the crypto market is fundamentally broken.” [Pete Rizzo]



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14 Comments

  1. The more I read and learn the more I become a bitcoin maximalist, why? Because bitcoin is the most decentralized and secure base layer and everything from fast/cheap transactions through the lightning network and dapps etc can be built on layer 2 and 3 solutions, which for the most part potentially makes alt coins redundant

  2. I only own bitcoins. I do not own any other coins.

    Still, I view with great pleasure that governments would currently need to shut down 12,210+ different networks in order to finally get rid of their problem. Therefore, I would appreciate even another 100,000+ extra, different small coins, each on their own network. Let these governments play whack-a-mole!

    Secondly, maybe one of these smaller coins will this time really produce an interesting and successful technology experiment? In that case, the Bitcoin network would benefit from copying and retrofitting their idea. This hasn’t happened yet. I know that 90% of the coins are technologically worthless. That is normal. According to Sturgeon’s law, 90% of everything is worthless. Still, we cannot exclude that something useful may some day happen in the altcoin realm. I look forward to benefiting from their creativity, no matter how remote the chances are that they will truly manage to innovate any time soon.

  3. tldr; Bitcoin and cryptocurrencies offer vastly different guarantees to their users as a result of their differing attitudes toward the market. Bitcoin maximalists believe strongly in alternatives to state monies, yet disagree on what Bitcoin and cryptocurrencies are achieving and how claims to their success should be mediated. Cryptocurrency agnostics believe users should be able to use money however they want and that a known supply is more a feature than a right.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  4. The problem with bitcoin maximalism is when you get to that point you might as well just be centralised so why we even bothering

    You end up putting total control into the core team or you fork (which is harder in a monopolised environment)

    For the best market and the most freedom we need a handful of competitors doing different things

    Bitcoin isn’t done, and it will never be done. We need to see what different directions it can take

  5. If u miss the altcoin train, it’s totally a great reason for you to stay away, altcoin use them as a mean to accumulate more bitcoins, if you see them in any other maximalism approach, first you don’t understand the market cap tokenomics and how much money you need to move the price up comparing a large coin such as bitcoin and other altcoins with low to mid cap. If u have a hundred dollars you think u can make any weakth with Bitcoin alone. Well, good luck!

  6. U will always try to be as subjective and find their reasoning to satisfy your point of view, but you have to rely on data and be objective to find the truth. I don’t date crypto, i use them to accumulate more sats

  7. Bitcoin was supposed to allow us to exit the system by eliminating centralized authorities and putting the power of transaction and access directly into our hands. Instead, if I look at our industry, products are being built to make the rich even richer. Yes, DeFi could be an amazing service for everyone – not relying on banks for loans or savings accounts. But as it stands, DeFi is nowhere near living up to the bold claims that some make for it. At some point, will there be a division in the overall crypto community? Will there be centralized, regulated maxis and then us purists who believe in decentralization? Will government regulation create this necessary division?

What do you think?

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