Bitcoin Forum

Hey guys, I've just posted a video my YouTube channel, CryptoBusy , on whether you should be a Bitcoin Maximalist!

https://www.youtube.com/watch?v=6GhS55uaFCE

Let me know what you think :)

I am interested in hearing your structured thoughts and opinions on the subject matter, thanks 🙂

Bitcoin maximalists are narrow-minded, by definition. ;)

More importantly, Bitcoin maximalism is a fantasy. Being a Bitcoin maximalist makes as much sense as being a gold maximalist. I challenge anyone to name any kind of organization or system or protocol that has only one instance.

Anyway, the video rambles for about 8 minutes before the topic is actually addressed. If you want to skip all that, use this url: https://youtu.be/6GhS55uaFCE?t=488

what does maximalism even mean exactly? does it just mean that bitcoin will remain dominant over altcoins in a market sense? because i believe that's probably correct. or does it have some kind of political/ethical connotation?

I doubt that bitcoin maximalism even exists! In this subject matter, I want you to read the below article which actually talks about why bitcoin maximalists are actually stupid,

https://medium.com/@pedrofebrerojr/why-being-a-bitcoin-maximalist-is-really-fucking-stupid-c8f22b136a9b

Maximalism actually makes no sense because a maximalist tends to ignore everything else which doesn't go along with their own viewpoints. That's literally non sense! It's the world of opportunities and being a maximalist is effectively blocking the opportunities knocking at your door!

I wish. There are a lot of people affiliated with bitcoin that has the "all other coins are scams and only bitcoin matters" mindset. I mean, it's understandable due to the number of scams out there, but calling all projects scams and useless is something else entirely.

that's just because the market is a [dismissive face + tone of voice] bitcoin maximalist [/dismissive face + tone of voice]



that's because you're a [dismissive face + tone of voice] bitcoin maximalist [/dismissive face + tone of voice]



no, 'bitcoin maximalist' is a genuine cast-iron rock-solid scientific term. only [dismissive face + tone of voice] bitcoin maximalists [/dismissive face + tone of voice] think it's psychologically loaded language that's used as a derisory label for those who can justify anything about Bitcoin using any kind of reasoning.


Are you reasoning about Bitcoin? Were your conclusions not totally negative? It's because you're one of those [dismissive face + tone of voice] bitcoin maximalists [/dismissive face + tone of voice]

Bit coin defies all frauds and will always be there

you have to look at the origin of the term and many things will become clear.
this term became popular in 2017 when bitcoin had a soft fork coming up and t here was a lot of fights going on with BCashers wanting to fork off. during that time many altcoins started getting pumped saying they were better and fooling people into investing in them. as bitcoin rise started their dumps began and as they were confronted by bitcoiners stating the uselessness of their altcoins, to answer them they had no way of branding them as "maximalist" to try and undermine their correct statements.

I won't recommend nor suggest anyone to be one, knowing that people who fall under the said category are usually those with limited point of view and are not really open to innovations and new tech. I'd rather check new tech and other alts to see whether they offer new things out of the box than to stick with bitcoin and have my knowledge limited with only bitcoin. Any new knowledge is welcome to me, and even if it one-ups bitcoin in any way, still it's okay because I learn that there are other areas in which bitcoin is not that improved yet.

You should be whatever you wish to be. All the same I find the alt fans who are 100% dismissive of Bitcoin the most tragic. r/cryptocurrency is currently a desperate wasteland where they're still convinced Nano's instant transactions or whatever deserves to 'defeat' Bitcoin.

It's really weird how people fixate on one ickle feature and conveniently choose to be blind to the overpowering stuff that really counts such as network effect and security. And this cycle is where Bitcoin will separate itself further from alts. Big money is not interested in much else.

Certain alts will have their day again no matter what. A lot of people backed the wrong horse that'll never get up again. And talk of use cases is laughable. Hardly anyone's 'using' any alt for anything other than searching for more dollars.

Hi! You have a sweet British accent! But 12 minutes is kind of too long, IMO. And with no background music or other sounds, it's a bit hard not to get distracted and to keep track of what you're saying. And there's too much information, not directly related to the topic of being or not being a Bitcoin Maximalist.
You're right that people are currently centered on Bitcoin, though, and experimenting with altcoins in this situation is a risky thing to do nowadays.
But the conclusion you make is like contradicting everything you said before! I don't know, I think that Bitcoin is the safest bet for now, but there surely are other nice projects. It's just that it's not their time yet.

I Don't think that someone should be a maximalist.
there are different use cases that any cryptocurrency give, and everyone see it from a different perspective. It is the most respected crypto, but there are some better in the industry.

BTW, very well-recorded video!

The word has been thrown around so much that it starts to lose its meaning. If it's just about relation with altcoins, than it totally makes sense, because Bitcoin developers are simply the best, and if Bitcoin doesn't have free instant transactions, compared to some alts, it's because there's a good reason to not do it.

But in some broader sense, like believing that Bitcoin will soon get adopted by everyone and will replace banks, that can be unhealthy because it would most likely lead to a disappointment.