Bitcoin maximalism: good or bad?

[uneng]

A lot of us are aware of the ideology Bitcoin maximalism. To put it short, a bitcoin maximalist believes that bitcoin is the one and only crypto needed. A bitcoin maximalist believes that bitcoin will be the only crypto to give you significant profit and the one that is the most useful in the real world.

So far, Bitcoin is the only needed cryptocurrency among all. If you pay attention you will see every other cryptos were copied from Bitcoin for speculative purposes, without adding any practical usages or principles behind the altcoins. Ethereum can be considered a major success, but that is mainly due to the speculative usage, anyway, since many other developers use its blockchain to launch their own tokens.

However, there aren't any guarantees it will remain like this forever. It's not a static world, rather it's a world in constant changes in every areas, so it's not different with cryptocurrencies. Maybe at some point a superior currency to Bitcoin will be created, and once it happens, Bitcoin can indeed become obsolet.

Therefore, to be a Bitcoin maximalist means to deny that possibility to be real, what I consider to be denial of reality.

[madnessteat]

^

It is rather naive to believe that Ethereum is merely a speculative asset, as it was on this network that the first smart contracts appeared, enabling the use of decentralized finance technology and non-fungible tokens, which had a very positive impact on the entire crypto industry. In fact, many new networks are implementing improvements in their protocols. All of this will ultimately lead to a kind of “evolution” of technology and may make it possible to create the most perfect network.

[Just Common]

I think it would be better if Bitcoin's other name was risk. Because without taking risks, no one can ever grow. There are two sides to a thing, good and bad. Nothing is 100% good or bad. All things are a mixture of good and bad. Similarly, if Bitcoin is done according to the rules, then something good will happen. And if someone comes without knowing the rules of Bitcoin, then he will face losses. That's why I would say that anyone who wants to come to Bitcoin should first learn about Bitcoin well and have patience.

[sunsilk]

I am going to be biased on this and I want to have Bitcoin only alone in the market if that's allowed to change on an instant. So this whole market in a $3.44 trillion means a lot.

This more than the common market cap that we're seeing in known tech companies that have been pumping with their stocks. And that's why every Bitcoin holder is going to be happy with that.

But there are implications that might happen on this, there is also a huge flow of money in the alts that goes to Bitcoin and that's the reason why  they're also there.

[Brandon855]

Calling maximalism an "ideology" is being kind. For many, it's a full-blown religion, and Saylor is their pope.

Let's be real: Bitcoin's job is to be the boring, stable, digital bedrock. It's the Fort Knox. It moves slow, it's secure as hell, and its main feature is that it doesn't change.

Everything else all the alts is the chaotic R&D lab. It's where DeFi, NFTs, and actual use cases beyond "HODL" are born and tested. Yeah, 99% of it is a dumpster fire casino, but that 1% is where all the innovation you mentioned comes from. A world without alts would be a world without progress. Incredibly boring and way less profitable.

Being a maxi is like saying you only believe in gold bars and think the entire stock market is a scam. You miss all the fun and all the potential tech breakthroughs. Balance is key. Bitcoin is the savings account; a few good alts are the high-risk, high-reward gambles.

[cr1776]

...

If you are a bitcoin maximalist, would you want a world without altcoins?

It is up to each person, certainly people will indeed make money with alt coins, but the question is which has the most utility and most security.  Labels like that are used to belittle people instead of talking about facts.

[Jan_btc]

First you laugh at Bitcoin maximalists
Then you play the shitcoin casino
Then you get burned & lose wealth
Finally you become a Bitcoin maxi yourself (and actually start studying the technology instead of just trying to get rich fast)

Give it time. You'll get burned in one of the many shitcoin ponzi schemes, rug-pulls, scams, "to the moon WEB3 supertechnology whatever"... and then realize Bitcoin is the safest decentralized digital money and everything else trends to zero, when expressed in BTC 

[Richbased]

If you are a bitcoin maximalist, would you want a world without altcoins?

Remember you called it a bitcoin 'maximalist' which is strictly a bitcoin enthusiast, why will i be interested in any other coin when i have been bonded by my love for bitcoin. If you asked; if am a crypto maximalist that would i have only choose bitcoin it would have been a different question but specifying bitcoin simply means no room for any other coin. If you watch how bitcoin started from a 'worthless coin' to a 'worthy coin', you shouldn't have been talking about altcoins anymore. Apart from bitcoin, i do not trust any other coin because since i started my study about bitcoin and other altcoins, i have seen much more convincible moves with bitcoin rather than with altcoins, even if any altcoins outperforms bitcoin which i know it won't be possible but i'll still ride with bitcoin.

The market cap. of cryptocurrency is at $3.38 trillion currently and bitcoin alone has about $2.14 trillion in market cap. which is higher than the market cap. of all the altcoins joined together, what does that implies?

[philipma1957]

Calling maximalism an "ideology" is being kind. For many, it's a full-blown religion, and Saylor is their pope.

Let's be real: Bitcoin's job is to be the boring, stable, digital bedrock. It's the Fort Knox. It moves slow, it's secure as hell, and its main feature is that it doesn't change.

Everything else all the alts is the chaotic R&D lab. It's where DeFi, NFTs, and actual use cases beyond "HODL" are born and tested. Yeah, 99% of it is a dumpster fire casino, but that 1% is where all the innovation you mentioned comes from. A world without alts would be a world without progress. Incredibly boring and way less profitable.

Being a maxi is like saying you only believe in gold bars and think the entire stock market is a scam. You miss all the fun and all the potential tech breakthroughs. Balance is key. Bitcoin is the savings account; a few good alts are the high-risk, high-reward gambles.

this is almost really really really really good.


Doge is the best designed stable pow coin the scrypt algo and the coins that merge mine on it are next to ideally balanced.

just kidding - I would put all maxers to death for disagreeing with what I just wrote. - just kidding

Yeah I know sounds like I advocate a violent act or a set of violent acts  I don’t as I am a confirmed non violent club member.


BTC is designed to be a large store of wealth and you can attempt to twist it into a payment system this will allow large master card style payment layers which will cause longterm degradation to mining of btc.

I wish I was 20 as I see btc and sha256 sliding due to not planning for long term mining reward system.

ie doge never lowers the reward which will attract mining for centuries.

[Y3shot]

Being a maximalist is the highest level of knowledge about Bitcoin and other altcoins. It shows that you're someone who has studied a lot and completed the cycle of understanding, because you realized there's only one serious currency on this planet, and that currency is called Bitcoin. Simple as that.

I agree with you. It takes understanding for one to be a maximalist because this set of people believes that what they know about Bitcoin is true.
So no matter how the price of Bitcoin falls, they are not bothered because they understand what they are doing. No matter how Bitcoin is criticized, they are not bothered. I consider maximalists to have the highest level of understanding of Bitcoin. Maximalists are addicted to Bitcoin and its investment.

[Russlenat]

If you're a lover of bitcoin, then you're....

If you're a knowledgeable lover of bitcoin, then you are aware of the fact there are many things which currently cannot be done with BTC, for example, advanced smart contracts and many of the great features of Chainlink - including effective communication with SQL databases! Who can show a "maximalist" solution with an entire list of currently missing BTC features?

One who is a bitcoin lover should not put an end to adopting altcoins as well as they can also be profitable especially if you chose those potential altcoins. You don’t need to limit yourself actually, that’s why we are given here different opportunities in the crypto market, you just need to decide whether you prioritize bitcoin over altcoins, or just simply make it balanced.

I can say I’m a bitcoin maximalist but I don’t mess up with altcoins either. It’s one way of accepting that altcoins have also their potentials wherein bitcoin cannot do it alone.

[Dogedegen]

If you're a lover of bitcoin, then you're....

If you're a knowledgeable lover of bitcoin, then you are aware of the fact there are many things which currently cannot be done with BTC, for example, advanced smart contracts and many of the great features of Chainlink - including effective communication with SQL databases! Who can show a "maximalist" solution with an entire list of currently missing BTC features?

Does the world need smart contracts? No it does not. So what exactly is Bitcoin missing, risky tradeoffs for features that mislead people about their usefulness? If you are a knowledgeable lover, you would know that Bitcoin does not have these features on purpose. Not because it doesn't know about them, not because it can't have them, but because they are bad for it.

One who is a bitcoin lover should not put an end to adopting altcoins as well as they can also be profitable especially if you chose those potential altcoins.

This is so wrong on many levels. You can't love Bitcoin and chase greed and scam projects. These two are not comparable.

I can say I’m a bitcoin maximalist but I don’t mess up with altcoins either.

You are not.

[ruykeri]

If you're a lover of bitcoin, then you're....

If you're a knowledgeable lover of bitcoin, then you are aware of the fact there are many things which currently cannot be done with BTC, for example, advanced smart contracts and many of the great features of Chainlink - including effective communication with SQL databases! Who can show a "maximalist" solution with an entire list of currently missing BTC features?

One who is a bitcoin lover should not put an end to adopting altcoins as well as they can also be profitable especially if you chose those potential altcoins. You don’t need to limit yourself actually, that’s why we are given here different opportunities in the crypto market, you just need to decide whether you prioritize bitcoin over altcoins, or just simply make it balanced.

I can say I’m a bitcoin maximalist but I don’t mess up with altcoins either. It’s one way of accepting that altcoins have also their potentials wherein bitcoin cannot do it alone.

It shouldn't be the case that a Bitcoin enthusiast would ignore all altcoins other than Bitcoin. However, Bitcoin is the first cryptocurrency, which is why it has become widely accepted as a tested, trusted, and proven digital asset. I myself have always had faith in Bitcoin, because many people have suffered financial losses by investing in many altcoins.

 However, it is also true that if you can choose and invest well in altcoins, there is a chance to make a profit.

[Butterfan]

Bitcoin maximalism makes sense because Bitcoin is the first and most established cryptocurrency. It has the longest blockchain great security and a global reputation that no other crypto has matched so far. The trust it has earned over the years is a huge benefit and it continues to gain adoption from individuals and governments alike However restricting ourselves just to Bitcoin could hinder back innovation. Altcoins have introduced many new concepts and technology that have moved the broader crypto field forward. While Bitcoin should certainly make up the major part of any portfolio given to its stability and track record exploring other well chosen altcoins can bring additional benefits. There is no single ideal way to approach crypto investing because everyone’s interests and risk tolerance differ. Bitcoin and altcoins together create a balanced and dynamic ecosystem which feels like a healthier environment for the future

[summonerrk]

Bitcoin maximalism makes sense because Bitcoin is the first and most established cryptocurrency. It has the longest blockchain great security and a global reputation that no other crypto has matched so far. The trust it has earned over the years is a huge benefit and it continues to gain adoption from individuals and governments alike However restricting ourselves just to Bitcoin could hinder back innovation. Altcoins have introduced many new concepts and technology that have moved the broader crypto field forward. While Bitcoin should certainly make up the major part of any portfolio given to its stability and track record exploring other well chosen altcoins can bring additional benefits. There is no single ideal way to approach crypto investing because everyone’s interests and risk tolerance differ. Bitcoin and altcoins together create a balanced and dynamic ecosystem which feels like a healthier environment for the future

I also like several factors in Bitcoin. This is that Bitcoin has never been hacked, it is reliable as a Swiss watch.

Also, Bitcoin is not centralized, and there is no team of developers who tomorrow will want to give each of their relatives a Lamborghini and then they will simply sell a huge share of their cryptocurrency of the project that they created.

Also, Bitcoin is known. And this is cool, everyone knows it, this is not the situation that was 10 years ago, now everything has changed dramatically and no one is surprised by a news report about digital gold.

[hd49728]

I also like several factors in Bitcoin. This is that Bitcoin has never been hacked, it is reliable as a Swiss watch.

I understand you but let say it more accurately, Bitcoin blockchain has never been attacked 51% and it has never had a block chain rollback like Ethereum.

Also, Bitcoin is not centralized, and there is no team of developers who tomorrow will want to give each of their relatives a Lamborghini and then they will simply sell a huge share of their cryptocurrency of the project that they created.

Bitcoin is decentralized by its protocol and about two decades through its blockchain operations, its network has still maintained its decentralization very well. Furthermore Bitcoin is decentralized in its development and protocol upgrade too. No single founder, developer can change its protocol arbitrarily.

Also, Bitcoin is known. And this is cool, everyone knows it, this is not the situation that was 10 years ago, now everything has changed dramatically and no one is surprised by a news report about digital gold.

Ten years ago, 15 years ago, invested in Bitcoin is like a bet but in 2025, it is no longer a gambling action but it is more likely a smart investment decision.

[madnessteat]

~snip~

I also like several factors in Bitcoin. This is that Bitcoin has never been hacked, it is reliable as a Swiss watch.

Also, Bitcoin is not centralized, and there is no team of developers who tomorrow will want to give each of their relatives a Lamborghini and then they will simply sell a huge share of their cryptocurrency of the project that they created.

Also, Bitcoin is known. And this is cool, everyone knows it, this is not the situation that was 10 years ago, now everything has changed dramatically and no one is surprised by a news report about digital gold.

I don't know if it's possible to compare the sale of Bitcoins from old wallets (2010-2016) with the sale of some of the altcoins by the team that created it. But in my opinion, it's roughly the same thing, since these old wallets are anonymous and could belong to anyone, including Satoshi Nakamoto.

When it comes to the decentralization of the Bitcoin network, this is a rather controversial issue, since according to statistics for 2024, 70% of the network's hash rate was controlled by the top three pools (Foundry USA, Antpool, and F2Pool). I think everyone understands what collusion between them could lead to.

[OcTradism]

I don't know if it's possible to compare the sale of Bitcoins from old wallets (2010-2016) with the sale of some of the altcoins by the team that created it. But in my opinion, it's roughly the same thing, since these old wallets are anonymous and could belong to anyone, including Satoshi Nakamoto.

You can compare like this, you have freedom to do this but such comparison is non sense. Bitcoin was not premixed, it can not be minted arbitrarily and intentionally by founders or developers like altcoins.

I am also surprised to see your time of comparison is too long from 2010 to 2016 especially 2016 when Bitcoin was already well adopted and had many use cases for people globally. Altcoins are low quality and under Bitcoin not only in price but in many aspects. It was created by Satoshi Nakamoto but many years later, it has become a decentralized project and blockchain without existence and developmental contributions from Bitcoin founders.

With shitcoins, they die after their founders left and abandoned projects and communities, it is very big difference.

[MGAMGA]

I don't know if it's possible to compare the sale of Bitcoins from old wallets (2010-2016) with the sale of some of the altcoins by the team that created it. But in my opinion, it's roughly the same thing, since these old wallets are anonymous and could belong to anyone, including Satoshi Nakamoto.

You can compare like this, you have freedom to do this but such comparison is non sense. Bitcoin was not premixed, it can not be minted arbitrarily and intentionally by founders or developers like altcoins.

I am also surprised to see your time of comparison is too long from 2010 to 2016 especially 2016 when Bitcoin was already well adopted and had many use cases for people globally. Altcoins are low quality and under Bitcoin not only in price but in many aspects. It was created by Satoshi Nakamoto but many years later, it has become a decentralized project and blockchain without existence and developmental contributions from Bitcoin founders.

With shitcoins, they die after their founders left and abandoned projects and communities, it is very big difference.

Yes, 2016-2017 was the time Japan corps paying people in bitcoin, literally.

It gained alot of influence at then and everyone started adopting bitcoin more.

and yes, absolutely, shitcoins and memecoins cannot be compared to old btc wallets, even if legacy which have large fees.

[BitGoba]

If someone dedicates a thousand hours to studying Bitcoin, what money is, the history of money and its evolution  from gold to banking and the fiat system  they will inevitably become a Bitcoin maximalist. Only those who don't understand money aren't maximalists. Unfortunately, all other altcoins are pure scams. All the talk about DeFi, NFTs, and blockchain technology is essentially a distraction they cannot be good money like Bitcoin.

Once you've read a few books about money  for example, The Bitcoin Standard or Broken Money  it becomes much clearer why Bitcoin is the most superior form of money ever created in human history.For many people, after reading those books, something just clicks  and they start going deeper down the rabbit hole. That’s how they become Bitcoin maximalists. The same thing happened to me. At some point, you just say to yourself: Oh my God, how did I not see or understand this earlier?