An article on how to be a Bitcoin maximalist

[franky1]

avoiding debates from the younger crowd posting previously in this topic, that pretend they know whats best.. (they seem more of the cultish group)

i am from the 2012 entrance era of bitcoin.

my definitions of a true maximalist are
supports and wants to protect BITCOIN consensus and protocols of the network, even against the human devs that may want to stifle,redefine bitcoin for their own profitable reasons

uses bitcoin for its store of value and utility.. but does not fear reading, researching, learning about other systems

does not object to other systems/networks. but is not afraid to call out on the ones with flaws people should be risk aware of

...
i myself only use bitcoin. and i mean bitcoin not the other networks that brand steal bitcoin
i do not fear reading code, and playing around on the other networks, for research.. but its not those networks i use as my store of value or utility..

i have not touched other altcoins(for value store/utility) like litecoin for about 8 years,
but i dont fear looking at other altnets and subnets and projects for research purposes and learning opportunities

my personal opinion (yes you must all by now know i have one, (and its my independent opinion, not one passed down to me by the cultish groups))

my opinion is that bitcoin has alot of potential, but that is currently stifled by the cultish loyalisms of a certain core group that had led to power. and their loyal supporters that fight off any idea's that dont follow the DCG roadmap... even the lead maintainer of the core dev group has admitted to the centralisation/cultish behaviours

there is a cultish mindset in the community since about 2015..  that support this stupid central point of failure, which has caused problems for the progress of bitcoin growth (on the bitcoin network,.. not to be confused with the offramping games to subnetworks pretending to also be bitcoin(by the cultish lot of younger people who entered bitcoin much later))


bitcoin could have done alot of ON BITCOIN growth in the last 7 years and had some good utility progress.
bitcoin still has potential for this growth.
i am and will remain a bitcoin maximalist. but i am a realist not a cultist.. and can happily call out the issues and risks and problems, because by being a realist, people can be awake to then work on those problems rather than lull people into cultish sleep of whatever silly games they wish to play pretending they know whats best because they call themselves maximalists too..

those people are the extremists of bitcoin. (much like trump supporters of 2016-202X)

[BlackHatCoiner]

I see. Your point is that cryptocurrency should only do one thing -- be a simple money.

The core of the idea is to be hard money. If some people want to extend the idea, no problem. But if to utilize their implementation, I need to hand over bitcoin, and acquire a currency that doesn't have the same recognition, it's already a big no.

If it were that easy or even that practical, it would have been done years ago.

Or just altering monetary policies is attractive for the developers' pockets.

I thought your point was that a cryptocurrency can't be a money if there is an abundance of them. Is Bitcoin then doomed, or was that not your point?

My point is that cryptocurrencies that give solutions to different problems aren't adopted by most merchants, and therefore users can't gain those benefits, whereas bitcoin is.

[franky1]

I see. Your point is that cryptocurrency should only do one thing -- be a simple money.

The core of the idea is to be hard money. If some people want to extend the idea, no problem. But if to utilize their implementation, I need to hand over bitcoin, and acquire a currency that doesn't have the same recognition, it's already a big no.

you mean like lock bitcoin up into a contract with a middleman. and then use a different balance measure on another network..
bitcoin sat:msat LN  (bitcoin does not understand 11 decimals.. just saying. but thanks for the admission.. )

bitcoins never leaves the bitcoin network. thats the beauty and security of bitcoin.

it seems today you are ready to escape the cultish tribe of your offramp agenda group..
maybe you can start promoting onchain scaling growth and utility growth,

lets see how long your non-cultish posts(only seen in recent hours) lasts before rejoining the defensive hostile narrative of the last few years, of preferring to support the DCG products, rather than support/protect the bitcoin protocol from centralisation of control groups

..
i have no problem with bitcoin being a commodity(raw item used to make other items)
EG bitcoin as (analogy: gold) store of value to make products/technologies backed by it like a bitcoin NFT
as long as people make things risk aware that those subnets are not bitcoin but backed/pegged to bitcoin. and ofcourse those networks are not half made and flawed(bridge/peg easily breakable, etc), like some current bridged/pegged networks

[darewaller]

I have to say as a person who has been involved in crypto one way or another for the past 10 years give or take, I can easily say that the best way to be a maximalist of bitcoin is not to just see the future of bitcoin and how "bright" it is, but to see fiat world and all the other alternatives to crypto and realizing how terrible it is.

As long as you have that, you are not going to really end up with something like that profiting you, all the other options sucks, and you are stuck with bitcoin. Bitcoin could be better of course, there are things I would improve with bitcoin too, but all others are so and that bitcoin looks like the best thing ever.

[fiulpro]

It's way of thinking, of progression thus at the end of the day there is no way to find out how and when the thinking will change, some people need the ' Learning ' they usually make loads of mistake and at the end they do tend to understand the spectrum of cryptocurrencies that are in the Market, shitcoins are undeniably increasing day by day and they are becoming the key to gaining profits for the wallets since they have considerable amount of change in the buying/selling prices and thus at the end of the day, all the wallets are even burdened with shitcoins as well, for a newbie it would be hard to navigate thus this is where platforms like this can help loads. Helping people navigate through the crypto market would be plenty helpful, bitcoins is more or so the major crypto one needs to focus on.

[NotATether]

Here is NotATether's Easy 3-Step Guide For Becoming a Bitcoin Maximalist:

1. Buy bitcoins or earn them (do not use faucets). Do not sell unless necessary.
2. Only buy as little amount of altcoins as is absolutely necessary for you.
3. Support the Bitcoin community during moments of solidarity.

That's it. It's not that hard to become a maximalist. I don't understand why people have to make it so complicated.

[Wind_FURY]

avoiding debates from the younger crowd posting previously in this topic, that pretend they know whats best.. (they seem more of the cultish group)

i am from the 2012 entrance era of bitcoin.

But yet you teach newbies that Bitcoin "split" into two, "Bitcoin Core" and "Bitcoin Cash", and you always suggested that the "real Bitcoin" is the one that maintains "Peer to peer electronic cash" through having cheap onchain fees and bigger blocks.

my definitions of a true maximalist are
supports and wants to protect BITCOIN consensus and protocols of the network, even against the human devs that may want to stifle,redefine bitcoin for their own profitable reasons

That's just an opinion/accusation of yours. I believe the Core developers are the rightful stewards of the network.

uses bitcoin for its store of value and utility.. but does not fear reading, researching, learning about other systems

does not object to other systems/networks. but is not afraid to call out on the ones with flaws people should be risk aware of

OK, then are you open to the fact that there are developers who are learning, researching and developing another system called the Lightning Network?

[savetheFORUM]

It is funny to know that the term "bitcoin maximalist" was first introduced by shitcoiners who couldn't argue against those who were simply pointing out the flaws in the shitcoins they were bag holding. For example if you tell a ETH bag holder that their shitcoin is centralized with a mutable blockchain, they would reply by calling you a "maximalist".

Otherwise any bitcoin, specially those who are interested in the Bitcoin technology (not just profit making) are actually very keen on any other development in alternative cryptocurrencies. It's just that we are too tired of seeing the same copycoins claiming they are "better" just because they did something silly like changed block interval from 10 minutes to 2.5 minutes

I do not think that you need to dislike other coins to be a bitcoin maximalist these days. I love bitcoin and hold most of my investments there and do not have any other investment bigger than bitcoin. And yet I would love other coins to go up, I love ETH too, and even if I do not own a token, I want all of them to go up.

It is good for the market and hence good for me as well as a bitcoin holder if everything goes up including shitcoins, but aside from that I would love to see everyone make money, what harm could it done? I want everyone to profit, that is a good thing. So, you can be a bitcoin maximalist AND be a crypto maximalist at the same time without a trouble.

[bbc.reporter]

Also, for anyone who really read the article, I reckon Pete Rizzo is desperate to convince the readers that the limitations of bitcoin are only short term in this statement.

they believe that these crypto assets and services are profiting off the short-term limitations of Bitcoin,

However in the same article he mentioned a commitment to slow software changes.

3. A Commitment to Slow Software Changes and Enfranchising Users

This appears for me as a request for everyone to be patient for updates that might never arrive. There is nothing wrong with this. Bitcoin should continue being a store of value if the community and the developers want it and leave the other developments, experimentations and scams to other projects.

[amishmanish]

We need to understand nothing happen overnight, Bitcoin took 13 years to establish itself. Once Bitcoin happened a lot of new projects came up. A lot of which were actually scam. We need a legitimate cryptospace with minimum junk. There is a need of self regulations that's why many of old timers stay with Bitcoin and no nonsense blockchains

[yazher]

We need to understand nothing happen overnight, Bitcoin took 13 years to establish itself. Once Bitcoin happened a lot of new projects came up. A lot of which were actually scam. We need a legitimate cryptospace with minimum junk. There is a need of self regulations that's why many of old timers stay with Bitcoin and no nonsense blockchains

Until now the most recommended investment in the crypto space is no other than bitcoins rather than those thousands of coins listed in the coin market. It's just simply because of its past history where when it falls it will recover so at the end of the day, investors don't lose their money, they just need some legit patience to wait and to ignore the critics, or else they will gonna suffer some doubt and uncertainty which will lead them to sell their BTC at a lower price. Old investors don't really care about the situation of the market when it's not looking good, they will just chill and wait for it to recover.

[pooya87]

I do not think that you need to dislike other coins to be a bitcoin maximalist these days. I love bitcoin and hold most of my investments there and do not have any other investment bigger than bitcoin. And yet I would love other coins to go up, I love ETH too, and even if I do not own a token, I want all of them to go up.

It is good for the market and hence good for me as well as a bitcoin holder if everything goes up including shitcoins, but aside from that I would love to see everyone make money, what harm could it done? I want everyone to profit, that is a good thing. So, you can be a bitcoin maximalist AND be a crypto maximalist at the same time without a trouble.

That's the main problem, you see things and value them based on the fiat profit they can give you while I see things and value them based on their utility.

Otherwise if we only care about "how much money we can make" then all projects ever created, even those that everyone considers to be scams, become "good" projects. I have definitely made profit from shitcoins. In fact a couple of years ago I wrote an app to trade on some shitty exchange focusing on pure shitcoins and ended up turning 0.00001 into 0.4 bitcoin. But that doesn't mean I like any of those shitcoins just because I made some money from their pump and dumps or consider them "good". I also never bag hold any of them wishing they to go up.

[worle1bm]

I disagree. They are benefiting from two things:
1. Bitcoin history.
They basically tell newbies about how bitcoin has gone from $0.001 to $70,000.00 and convince them that their shitcoin can do to just because it is worth $0.000000001 today.

Exactly this is the point why these coins are seeing pumps in the market running on fake claims and whales manipulation only but those who sees they missed the btc opportunity can take this as an advantage invest in these shitcoins losing all the money.There are articles over net that this coin can be next btc bull run so you see how they use bitcoin as a advantage to make people fool and then silently exit the market with rug pull so never believe in them blindly.

[Wind_FURY]

Also, for anyone who really read the article, I reckon Pete Rizzo is desperate to convince the readers that the limitations of bitcoin are only short term in this statement.

they believe that these crypto assets and services are profiting off the short-term limitations of Bitcoin,

However in the same article he mentioned a commitment to slow software changes.

3. A Commitment to Slow Software Changes and Enfranchising Users

This appears for me as a request for everyone to be patient for updates that might never arrive. There is nothing wrong with this. Bitcoin should continue being a store of value if the community and the developers want it and leave the other developments, experimentations and scams to other projects.

You're right, there IS NOTHING WRONG with it. If Bitcoin only does one thing, a Store of Value, we truly know that it does that one thing the best. Let Bitcoin be Bitcoin, and let it be the best in what it can do without fault-finding and name-calling. If you want a cryptocurrency with a Turing Complete system, buy Ethereum. If you want a cryptocurrency with big blocks because you believe that it's Peer to Peer cash, buy Bitcoin Cash. Simple.

[LegendaryK]

If Bitcoin only does one thing, a Store of Value,

Store of Values don't drop from $60K to $19K in ~1 year.

Dumpster Fires do drop like that.  
Que the Marsh Mellows.  

FYI:
How to be a Bitcoin maximalist.
Drop your IQ below 100.
Ignore the dying of Proof of Waste security model.
Pretend 4 mining pool operators are decentralized.
Pretend the Government PoW Ban warnings are fud.
Power Rationing is FUD. Energy Price are not increasing.
Pretend a 3rd party offchain system is Bitcoin.
All other coins are shitcoin, even thru they are technically more advanced than BTC.

Whenever confronted with the facts BTC is subpar compared to all other coins in onchain transactions capacity and price,
scream decentralized to the maximum that your lungs allow.

That about sums it up, the very last thing , is utterly ignore all the reality that is apparent to anyone not a  Bitcoin maximalist.  



 

[danadc]

Here is NotATether's Easy 3-Step Guide For Becoming a Bitcoin Maximalist:

1. Buy bitcoins or earn them (do not use faucets). Do not sell unless necessary.
2. Only buy as little amount of altcoins as is absolutely necessary for you.
3. Support the Bitcoin community during moments of solidarity.

That's it. It's not that hard to become a maximalist. I don't understand why people have to make it so complicated.

That is the easiest in all senses, there are people who have money left over from their salary and then do not know what they can spend it on, the best thing is to buy fractions of bitcoin and save them, but it is very difficult for people to take that habit that can make millionaires, I like your steps, they are the easiest, and if so, I think I am a maximilist too, I was in altcoin projects in 2017, then I was inactive, especially to get my career, since I got it and I'm working, I like all this, I know I missed a lot of things in all those years, but I think it's not too late to do something, whoever buys right now can do great things when bitcoin goes up in price a lot.

[Wind_FURY]

Trolls trying to discourage newbies, and people in general to use Bitcoin, and HODL it as a Store of Value. They will say that because it's volatile, therefore it can't be used as a Store of Value. But what's the definition of Store of Value? Isn't it an asset, commodity, or a currency that can hold and maintain its value over long periods of time? Bitcoin not a Store of Value?

ZOOM OUT.

Bitcoin will be around until we die.

[Jeger.Kiting]

Bitcoin maximalism is also a bit of a misnomer, as Bitcoin is not the first project to build a decentralized cryptocurrency. That said, this is the most successful attempt so far, fueling Bitcoin maximalists' beliefs about how Bitcoin will offer everything investors, companies and everyday users need. It is the digital currency of the future capable of monopolizing the future cryptocurrency industry. That might seem impossible on paper and a rather toxic attitude towards cryptocurrencies, although Bitcoin's maximalism is a bit more nuanced.

[franky1]

If Bitcoin only does one thing, a Store of Value,

Store of Values don't drop from $60K to $19K in ~1 year.

the PRICE. is not the value

the PRICE is the premium speculation above value

value is at the bottom
here ill show you
(numbers aren't exact. they're rounded for easy visualisation. dont knitpick)

year  |   value            |    price low   |    price high    
2010      $0.06               $0.07             $0.27
2012      $4.00               $4.30             $15.00
2014      $150.00           $310.00          $920.00
2016      $300.00           $380.00          $960.00
2018      $2500.00         $3200.00        $17500.00
2020      $4500.00         $5100.00        $29000.00
2022      $14000.00       $19000.00      $48000.00

no one on the planet! can buy/acquire bitcoin below value amount in those years
which then protects that amount as a store of value, because no one can/has broke that wall amount. thus gives it a store of value protection due to lack of ability to break that wall

you will not find the "value" on a bitcoin market. it sits below/off the market rate
its a separate statistic

when the PRICE is low. its at/near good value
when the price is high its at a premium

if you want to secure more of your wealth at good store of value
buy the low. buy while cheap.

if you are buying bitcoin at the premium/ATH.. then be prepared to lose some of your wealth when the ATH corrects.. or wait patiently for the SoV to move up to then protect your wealth more (have patience)

VALUE is not the ATH which then crashes..
the ATH does not represent value or a stable price that bitcoin should remain.
ATH are temporary spikes of speculations(bubbles above the bath water)

invest in the times of calm water, not waves of bubbles

each cycle the water level(value) rises. the store of value rises.. but not to the same speed volatility, variability as the waves and bubbles move up and down above the water line

[JayJuanGee]

you will not find the "value" on a bitcoin market. it sits below/off the market rate
its a separate statistic

Overall, I am not really disagreeing with the various points that you are outlining franky, and it is likely true that there is a kind of concrete bitcoin value that does not necessarily match up with BTC price, and we are also less likely to be able to figure out BTC value during high price spikes in either direction.  At the same time, there are a variety of ways to attempt to measure value, so there is likely rarely agreement on actual value, and so frequently the battle over BTC price will be battles in regards to what is the true value so disagreements about whether the current BTC spot price is higher or lower than actual value.

Some people will also recognize that value cannot be accurately assessed or attained, and therefore will assert that the best approximation of value is the spot price.

Pete Rizzo is a decently smart guy, and he even chimes into the forum from time to time, and he even admitted his mistake of siding somewhat heavily with the BIG blockers - and even though frequently he does make a lot of decent moralizing points - including in the articles when he is suggesting that maximalists should have more moral integrity in terms of promoting positive building approaches rather than destructive approaches, we should also recognize that there remains a bit of a tension to be suggesting a kind of standard because ultimately bitcoin is for everyone (including enemies), so there's a bit of unrealism to expect bitcoiners to have standards and morals - because the world is not made of such pure people even if there's nothing really wrong with people having good aspirations (and there is nothing wrong with throwing out some thought exercises in that direction, either) - but each of us still needs to be careful in terms of either communicating and/or practicing good aspirations, since sometimes those good aspirations can also be used as attack vectors.