Bitcoin maximalism

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Bitcoin maximalism is defined as a process of investment which use only Bitcoin as one and only cryptocurrency for store of value and it rejects all other altcoins while considering them unimportant.Maximalists trust only on bitcoin as having most decentralized,secure and censorship resistant like qualities.

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Some principles of Bitcoin maximalism

• Bitcoin supremacy is one of the most significant thing because maximalist only believes on Bitcoin as trustworthy while other altcoins are unnecessary.

• Maximalist also consider Bitcoin as a lot of storage of value just like gold instead of a source of exchange.

• Maximalist also tend to reject centralized or controlled cryptocurrency while that's why there first priority is for Bitcoin.

• Maximalist always focus on most secure and scalable features of Bitcoin like immutability and most strong cryptography algorithms used by it.

• Maximalist give priority to Bitcoin because it has capacity in facilitating the transactions without any need of intermediate entity or without any end of government or any interference of institution.

Bitcoin maximalism examples

• While choosing investment strategies maximalist solely consider bitcoin.

• Maximalist always focus in promotion of Bitcoin as legitimate currency while showing their criticism for other alternative coins and for their use cases.

• Maximalist feels more intended to diminish innovation of altcoins while they gives priority to development of bitcoin and to its scalability.

• Maximalist show a lot of their community involvement by getting involved in debates and discussions online so that they may defend the supermacy of Bitcoin and they may diminish the altcoins perspective by others.

• Maximalist also seems to be focused in rejection of altcoins use cases because they argue with alternative coins use cases including privacy and small contracts ,which could be easily addressed by Bitcoin,as these are not significant.

Critics argue with Bitcoin maximalism

• Maximalism is stifling innovation and development in cryptospace when it is rejecting alternative coins.

• Maximalism is a way of ignoring potential benefits and unique features as well as use cases of many other cryptocurrencies.

• Maximalism is also criticized sometime because it restrict collaboration and growth in cryptospace as it create in division in crypto community.

• Maximalism overlooks some of that is that I related with bitcoin like fluctuations in market and regulatory uncertainty or instability.

Bitcoin maximalism is one of the most significant philosophical and investment mechanism which gives priority to BTC supermacy and suppress the altcoins perspective. There is not only people in favour of it but there are also a lot of criticism on it due to different reasons that I have explained.

Have a blessed day