What is Bitcoin Maximalist

 

What is Bitcoin Maximalist?

 

source:zondacrypto.com 

Have you heard of Bitcoin Maximalist from any of your friend or the internet community? The urbandictionary.com explains as “A low IQ, low energy Bitcoin-loving bigot who thinks that any coin that has not been approved by Bitcoin Maximalist, should be thought of and labelled as a shit-coin”.  In another description about ‘Bitcoin maximalism’ from urbandictionary.com explains “Bitcoin maxis ranges from Bitcoin obsession (“sees no other coin but Bitcoin”) to Bitcoin conservatism (“believes that other coins can exist, but that Bitcoin is superior and should never change”).

The definition from zondacrypto.com explains as follows “Bitcoin maximalism is the belief that Bitcoin is the only cryptocurrency and digital asset that will have – and should have, right now – any meaningful value. Bitcoin is the one true coin. All other options, from Shiba Inu to Dogecoin, from XRP to Ethereum – are not worth anyone’s time or energy”.

Bitcoin maxis have a set of beliefs that underpin the stance of Bitcoin that Bitcoin can be all that need be offered for the safety, security, and success of the consumer. Bitcoin maxis accept all this talk of Bitcoin’s lack of versatility. However, they are firm believers in the ability of bitcoin to adapt, to scale and meet the growing needs of consumers and developers as the Web3 era is ushered in. The issue maxis have is that new coins attract new users to the crypto space, not Bitcoin. Bitcoin is seen as a ‘boomer coin’. It’s old news, boring. Overcoming this via development is key. 

Maxis, though, do warn new and existing users about any and all new coins, even existing ones. Despite being crypto enthusiasts, they are keenly aware of the crypto endeavours and coins available which appear as solid investments and trustworthy additions but are revealed to be scams. They state that with Bitcoin as the one true coin, users won’t have to worry about the authenticity of a coin.

In Investopedia.com, the following is that they have to say about the Bitcoin maximalist. “Bitcoin maximalists believe that Bitcoin, which is the world's most popular cryptocurrency, is the only digital asset that will be needed in the future. Maximalists believe that all other digital currencies are inferior to Bitcoin. The maximalist ideology holds the view that other cryptocurrencies are not in line with the ideals that were established by the pseudonymous Satoshi Nakamoto, who created Bitcoin in 2009”.

“Bitcoin is unlike government-issued currencies, called fiat currencies, which are managed by a centralized authority. Instead, Bitcoin is decentralized and its blockchain is a publicly distributed ledger, meaning the transactions are shared with participants and transparent”.

“However, despite Bitcoin's popularity as a heavily traded digital asset, it has also led to the creation of many other cryptocurrencies. Bitcoin maximalists believe that these other cryptocurrencies—called altcoins—are unnecessary and inferior”.