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Author Topic: Bitcoin Maximalism Has Won  (Read 501 times)
hotpassion
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January 02, 2021, 01:38:38 PM
Merited by JimboToronto (2)
 #1

These words are of a guy that I found rather interesting. What do you think about this?

    Let's not be delusional. I know that Bitcoin maxis are commonly ostracized as too toxic, but they have been right about everything.

    Bitcoin's dominance is at its early 2017 levels, and it keeps surging.

    Bitcoin Cash and Bitcoin SV are dead. Craig Wright and Jihan Wu are over.

    DeFi was a fad that lasted even shorter than the ICO craze.

    XRP has always been a scam. Bitcoin maximalists have always been parroting about it, but very few took them seriously until the SEC lawsuit.

    The S2F model, which was laughed off as tin-foil-hat nonsense, has been extremely accurate so far.

    Institutions don't care about altcoins.
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January 02, 2021, 01:46:59 PM
Merited by JimboToronto (2), Evilish (1)
 #2

Let's not be delusional.
In that case, the term "bitcoin maximalist" was created by shitcoiners who kept being criticized about the garbage they created and everyone kept telling them shitcoins can never grow. Since they had no valid arguments against that, they tried bashing those challenging their useless project by using this term.


Quote
Bitcoin's dominance is at its early 2017 levels, and it keeps surging.
Bitcoin dominance has never changed and it has always been nearly 99%.
Over the years people started thinking that market cap ratio is the same as dominance and as an enormous amount of shitcoins were being created from time to time that ratio kept jumping up and down hence this new false "dominance" kept going up and down and each time the shitcoins die or get dumped hard on a large scale the ratio goes back up again.

Quote
Bitcoin Cash and Bitcoin SV are dead. Craig Wright and Jihan Wu are over.
They were never alive to begin with.
Just because bitcoin price is above a certain level now doesn't change that.

Quote
DeFi was a fad that lasted even shorter than the ICO craze.
So did STO before that and same with IEO and we will definitely see new ways of scamming newbies soon.

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January 02, 2021, 02:14:26 PM
 #3

Luckily switched my bcash to btc 5 days ago. Waaaay to late but still greatly in profits already. Still have bsv though. Where can ı sell that into btc?
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January 02, 2021, 02:16:07 PM
 #4

Bitcoin maxis are commonly ostracized as too toxic

All they (we?) were doing was trying to be helpful by steering noobs away from shitcoin scams.

Did you ever notice that  the most "toxic" Bitcoin maximalists are often the most experienced?

Many shitcoiners rationalized their shitcoinery by thinking that they had "missed the boat" with Bitcoin and thought they would somehow get the same returns by getting in on the ground floor with some shitcoin scam.

Others thought that Bitcoin was too expensive because they couldn't afford to buy a whole coin all at once.

It's still not to late to buy Bitcoin and see large gains.
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January 02, 2021, 02:34:29 PM
 #5

Let's not be delusional. I know that Bitcoin maxis are commonly ostracized as too toxic, but they have been right about everything.

Bitcoin's dominance is at its early 2017 levels, and it keeps surging.

Bitcoin Cash and Bitcoin SV are dead. Craig Wright and Jihan Wu are over.

DeFi was a fad that lasted even shorter than the ICO craze.

XRP has always been a scam. Bitcoin maximalists have always been parroting about it, but very few took them seriously until the SEC lawsuit.

The S2F model, which was laughed off as tin-foil-hat nonsense, has been extremely accurate so far.

Institutions don't care about altcoins.

i reckon these will be unpopular opinions in this thread, but i hold them nonetheless:

-altcoiners are clearly near capitulation. (after capitulation usually comes reversal)

-BCH and BSV will pump later this year with the rest of the altcoins.

-institutions do care about altcoins, just not at the same volumes as their bitcoin bets---which is natural, given that they are riskier and lower liquidity. grayscale's ethereum trust is at $2.2B AUM now. that's nothing to sneeze at IMO.

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January 02, 2021, 02:41:00 PM
 #6

Bitcoin maxis are commonly ostracized as too toxic

All they (we?) were doing was trying to be helpful by steering noobs away from shitcoin scams.

Did you ever notice that  the most "toxic" Bitcoin maximalists are often the most experienced?

Many shitcoiners rationalized their shitcoinery by thinking that they had "missed the boat" with Bitcoin and thought they would somehow get the same returns by getting in on the ground floor with some shitcoin scam.

Others thought that Bitcoin was too expensive because they couldn't afford to buy a whole coin all at once.

It's still not to late to buy Bitcoin and see large gains.

Many newbies in my country have been scammed by shitcoiners that they have missed the bitcoin train and now btc price is too expensive and they should invest in early stage coins (shitcoins actually, such as Ilcoins,...) and hoped that these shitcoins will grow like bitcoin after some years...But that never happen. They now feel so sad when seeing BTC is growing while their coins keep going down and down.
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January 02, 2021, 03:15:25 PM
 #7

Luckily switched my bcash to btc 5 days ago. Waaaay to late but still greatly in profits already. Still have bsv though. Where can ı sell that into btc?

I did that just months after getting my forked BCH split from my bitcoins. I held on to a few for some stupid reason and sold them later, after the BCH bubble, but that wasn't a complete loss since I got a few BSV that I also sold right away. The whole narrative by Roger Ver and later CSW did not make sense. Anybody who read a bit about the deals these guys were making and the lifestyles of their "investors" such as that whole Calvin Ayre knew that it was all a well orchestrated cash grab. They weren't trying to improve anything or help the community, they were staging a coup to dethrone bitcoin.

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January 02, 2021, 03:53:37 PM
 #8

There could have been no other outcome, cryptocurrency space is a giant competition and there can be only one winner. People want to have a currency that is accepted everywhere, instead of having 100 wallets with different coins at the same time. Bitcoin established itself as a secure and reliable coin, but alts have nothing to show - they only have cheap transactions because no one uses them, features like smart contracts are irrelevant to regular users, and there's a lot of downsides to alts like even bigger volatility and poor security - we have seen a lot of hacking, bugs and even 51% attacks.





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January 02, 2021, 04:35:32 PM
 #9

-altcoiners are clearly near capitulation. (after capitulation usually comes reversal)

Capitulation? Reversal? Tell that to a penny mining stock shareholder whose shares have become worthless.
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January 02, 2021, 05:03:18 PM
 #10

Many newbies in my country have been scammed by shitcoiners that they have missed the bitcoin train and now btc price is too expensive and they should invest in early stage coins

they were scammed by their own stupidity and this false narrative that have been fed to them that "bitcoin is too expensive".
we can't force people to use their heads.

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January 02, 2021, 10:21:07 PM
 #11

These words are of a guy that I found rather interesting. What do you think about this?

    Let's not be delusional. I know that Bitcoin maxis are commonly ostracized as too toxic, but they have been right about everything.

    Bitcoin's dominance is at its early 2017 levels, and it keeps surging.

    Bitcoin Cash and Bitcoin SV are dead. Craig Wright and Jihan Wu are over.

    DeFi was a fad that lasted even shorter than the ICO craze.

    XRP has always been a scam. Bitcoin maximalists have always been parroting about it, but very few took them seriously until the SEC lawsuit.

    The S2F model, which was laughed off as tin-foil-hat nonsense, has been extremely accurate so far.

    Institutions don't care about altcoins.

Depends what you mean by bitcoin maximalist. I've always taken that to mean people who think Bitcoin will take over all national currencies and will be the one world currency. It became obvious that won't happen a number of years ago. If you take a lesser idea for maximalism, like say Bitcoin will be the dominant "money" crypto and will be globally adopted, yeah it is increasingly likely that will happen.

Bitcoin was always the one coin to rule them all. Altcoins have always been just stuff to trade for profit so it's not surprising Bitcoin's dominance eventually came back after the great ICO upheaval of bitcoin's marketcap.

BCH and BSV have always been shit coins whose only purpose was for them to lie to people and try to trick people into thinking they are the real Bitcoin.

DeFi is definitely not a fad so I don't agree with that at all, not sure how anyone could say DeFi is a fad as it is growing quickly and certainly isn't going away. DeFi will be the killer app for Ethereum and other smart contract platforms for the foreseeable future.

XRP has always indeed been a shit coin and it isn't remotely surprising at all that the SEC is finally going after them. It never made any sense for XRP to be among the largest coins, really all that says is that every coin outside of BTC and ETH is small and expendable.

S2F does indeed look good, though at some point it will break down as there is only so much money in the world, but it should stay fairly accurate for a good while longer.

And yeah of course institutions don't care about altcoins. Altcoins are for trading, institutions are looking for long term value. That is BTC and ETH, though at this point ETH is still proving itself.
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January 02, 2021, 11:12:36 PM
 #12

Yes, institution doesn't care about altcoins, or perhaps they are just smarter that majority of us. Bitcoin being the prime mover, what do you expect, will still remain on top and can weathered all the storm.

BCH and BSV and those big blockers argument are still there, but they can't never won in this battle. Bitcoin maximalist are often criticised because of their obvious one side "delusion", but look at where bitcoin is right now.

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January 02, 2021, 11:42:18 PM
 #13

In that case, the term "bitcoin maximalist" was created by shitcoiners who kept being criticized about the garbage they created and everyone kept telling them shitcoins can never grow. Since they had no valid arguments against that, they tried bashing those challenging their useless project by

Well said! Either you believe in Bitcoin or you don't, there is no minimalism or maximalism.

Luckily switched my bcash to btc 5 days ago. Waaaay to late but still greatly in profits already. Still have bsv though. Where can ı sell that into btc?

Should have done that right after the fork, lol.
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January 02, 2021, 11:50:50 PM
 #14

In that case, the term "bitcoin maximalist" was created by shitcoiners who kept being criticized about the garbage they created and everyone kept telling them shitcoins can never grow. Since they had no valid arguments against that, they tried bashing those challenging their useless project by

Well said! Either you believe in Bitcoin or you don't, there is no minimalism or maximalism.

Luckily switched my bcash to btc 5 days ago. Waaaay to late but still greatly in profits already. Still have bsv though. Where can ı sell that into btc?

Should have done that right after the fork, lol.

Yes that would have been 10x more than now... Unfortunately that time I did not care. I did not want to move my coins from paper wallet to other places just to claim forks.
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January 03, 2021, 12:16:49 AM
 #15

... this thread should be in the Altcoin section ...

why we allow shitcoin threads on Bitcoin Forum is totally beyond me, make your own forum!

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January 03, 2021, 01:15:02 AM
 #16

These words are of a guy that I found rather interesting. What do you think about this?

    Let's not be delusional. I know that Bitcoin maxis are commonly ostracized as too toxic, but they have been right about everything.

    Bitcoin's dominance is at its early 2017 levels, and it keeps surging.

    Bitcoin Cash and Bitcoin SV are dead. Craig Wright and Jihan Wu are over.

    DeFi was a fad that lasted even shorter than the ICO craze.

    XRP has always been a scam. Bitcoin maximalists have always been parroting about it, but very few took them seriously until the SEC lawsuit.

    The S2F model, which was laughed off as tin-foil-hat nonsense, has been extremely accurate so far.

    Institutions don't care about altcoins.

How is bitcoin maximalism toxic if it's just speaking the facts out loud? That part I completely disagree with.

People tend to label common sense with extremism these days. There is good reason why holding BTC and BTC only is the right thing to do. Most other cryptos, if not all, are created for the sole purpose of benefiting the creator via an ICO or the like. They stop development as soon as they secure funding, and there is never an active user base.

BTC is literally the only widely adopted CURRENCY. There may be other blockchain platforms that have adoption, but nowhere near the scale of BTC and they are not primarily mediums of exchange (think ethereum). XRP and others aren't even decentralised.

It's just common sense. Stop calling it toxic when we're simply arguing with a bunch of manipulative conmen pushing their own agenda.

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January 03, 2021, 02:00:54 AM
 #17

... this thread should be in the Altcoin section ...

why we allow shitcoin threads on Bitcoin Forum is totally beyond me, make your own forum!

Did you even read the OP?

It's not about altcoins. It's about the superiority of Bitcoin.

It only mentions shitcoins to point out their failures.
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January 03, 2021, 04:13:25 AM
 #18

I think I am misunderstanding this thread.

I thought "Bitcoin maximalism" was the ideology that "people who use altcoins are enemies of Bitcoin", not any of the things OP is talking about.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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January 03, 2021, 05:31:15 AM
 #19

 Cheesy Cheesy Cheesy

.. I just proved the OPs proposition by demonstration ... idiots.

Fuck off with all your shitcoinery! We don't even need to meta-discuss them.

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January 03, 2021, 04:58:27 PM
 #20

i reckon these will be unpopular opinions in this thread, but i hold them nonetheless:

-altcoiners are clearly near capitulation. (after capitulation usually comes reversal)

-BCH and BSV will pump later this year with the rest of the altcoins.

-institutions do care about altcoins, just not at the same volumes as their bitcoin bets---which is natural, given that they are riskier and lower liquidity. grayscale's ethereum trust is at $2.2B AUM now. that's nothing to sneeze at IMO.

I don't think they are near capitulation, there's still quite a lot of hopium. If you look at the Altcoin board or /r/Cryptocurrency, people still say that they plan to wait for altcoin pump, which in their prediction will happen after Bitcoin slows down.

I can see Ethereum going up, it's the main coin for smart contracts and all the stuff based on smart contracts, but what BCH and BSV have to offer? They are just counterfeit Bitcoin, institutional investors would be dumb to buy them.





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