Bitcoin Maximalists are WRONG! - Here&#x27;s Why

dim753 (63) 6 years ago

First i have to say i like the view you have in the back, about this topic i think the idea to see bitcoin as digital gold is great but as payment method i'm not sure of that because you can find better option in the market with low fees, high velocity and that need less resources to mine blocks, for example the technolgy of cardano will be amazing as payment method, even steem works amazing as payment method, Great topic man

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milano1113 (58) 6 years ago

That is a bit extreme to think there is only bitcoin to survive, to be the only option of payments. To me Bitcoin maximalism starts with the assumption that the blockchain market is a zero-sum game. They believe that all other tokens have to fail for Bitcoin to succeed. If that’s the case right now every single blockchain project that has a value is a thread to bitcoin itself in their eyes. You can compare it to EOS vs ETH. In my eyes there is enough space for much more than Bitcoin only or either EOS vs ETH. What about Steem, or many other projects with very bright future. Can you imagine Steem being replaced by bitcoin? Of course, I do believe bitcoin will always be #1 in market value, unles something we don’t know happens. But you just can’t compare bitcoin to other ALTs and ICOs with projects as you pointed out.

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rothberg (58) 6 years ago (edited)

There are diferent kind of people when it comes to cryptocurency believes. There are people believing in alt coins more than in bitcoin and there are bitcoin maximalists. It’s ok to have an opinion, but to go to the point as maximalist, it becomes overrated and can easily turn against them one day. All ALTs would have to be incorporated into bitcoin itself and that’s really hard to believe. I personally like to be diversified, not over diversified, but at some point you have to be opened to diferent ideas and not just one hoping I’m the only one right.

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newageinv (70) 6 years ago

While bitcoin will continue to lead the way for the decentralized concept of blockchains, it cannot simply leverage all of the opportunities available for the technology. While many will fail on trying, the reality is that others will provide true benefits and value to various industries. In addition, the whole concept of a decentralized world of cryptocurrencies is reliant on further projects developing given the need for interoperability which would be another one needed to achieve adoption. So while bitcoin may lead the way in dominance for some time, many projects will flourish as the technology continues to evolve.

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abdulmanan (67) 6 years ago

I like the ending music and Believe me i watched complete video for that music :D
yes, Everything has it's own value, Gold has physical Existence, that is why it's gold and nothing can replace it. Bitcoin can be more valuable than gold but it can't replace Gold.

obest (59) 6 years ago

Bitcoin is solving a global problem which is a global digital store of value just like gold and silver and also decentralizing global monetary control and business transactions. So Bitcoin will last for a very long time, but other crypto currencies that has no values in solving any problem will fade away.

Bitcoin is going to become a global currency of choice and the price of Bitcoin will surge in future as more countries and masses adopt it as a store of value and and a global currency for transacting businesses

empress-eremmy (65) 6 years ago (edited)

I think You're right. Bitcoin will remain the number one crypto for the foreseeable future and while some altcoins will pass the test, many will fail. That said I see no point in playing it too safe with crypto when you can have it all

markkujantunen (74) 6 years ago (edited)

Finland's dominant cryptocurrency broker, Prasos (website: www.bittiraha.fi), has a discussion forum on its website. Many people over there seem to be very much in the Bitcoin maximalist camp. There's Bitcoin and shitcoins. A lot of people pitifully stuck in a 2013 mindset. The company seems very conservative for a cryptocurrency broker. People have been asking whether they are going to extend their business to other cryptocurrencies as well for quite some time (years). Their Coinmotion service will include Litecoin(!) of all coins in the near future. Nothing wrong with Litecoin except for the fact that it's yet another PoW coin that has no hope of scaling sufficiently for real-world adoption without second-tier solutions. If we look purely at technical capabilities and long-term (for a cryptocurrency) track record, STEEM could actually serve really well as decentralized peer-to-peer money for the masses. It has a superior wallet system with human-readable addresses to boot, a two-year history of reliable operation, an existing real community of users, app development going forward at an accelerating pace steadily increasing its use cases, and, above all, scalability through the roof. EOS is barely out of the maternity ward without having been battle tested to any degree. Also, EOS has a dubious 21 block producer model whereas Steem is much more decentralized.

I wasn't around on Steem when it was launched (the magnitude of the loss for me is very hard to overstate), but I've heard it involved some trickery to avoid it being classified as a security. As a result, the reputation of Steem took a big from which it hasn't fully recovered, yet. But, to be honest, I personally consider this a blessing in disguise because the undervaluation of Steem allows me to stack up on it much more easily. STEEM will inevitably moon. No other blockchain project has a community like this, yet.

humzafida (56) 6 years ago

Very Nice Analysis, and I am 100 agree with you, No doubt Crypto is a revolution, but Scam Projects are decrease it's value and It is why bitcoin ETF is continuously been rejected. and There is no chance for it to be approved at 21 sept. But hopping for good, lets see where it takes us.

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amirthavigneshkg (43) 6 years ago

Bitcoin is gold to buy rest of the minerals 😁

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