Bitcoin Maximalism - A Dangerous Path
Bitcoin maximalist's are very vocal about their support of Bitcoin, but is it a failed ideology that hurts Bitcoin more than it helps?
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Most maximalists are OG's who've been around for a few years. While I wouldn't consider myself a maximalist, I do still agree with most of their points and I say this as a software dev running my own software business now for well over 20 years and having studied the bitcoin source code for about 2 years now.
Maybe someday, a new crypto will actually be superior technologically to bitcoin, but today all I see are more centralized alternatives threatening to obscure bitcoin and laying out the red carpet to the ship of state just waiting to take it over.
However, the question remains, how much decentralization is the minimum safe amount? It's possible that some crypto's have sufficiently robust censorship resistance, privacy, etc... But given the epic battle in front of us, is it responsible to adopt anything other than the best?
There's also the idea that one needs to use the right tool for the job. Bitcoin can't do everything at this point, so until it does, it's futile to be a maximalist. As Andreas Antonopoulos has said "the market will give us the truth".
Tried to watch the whole video but personally I think its too long for my preference.
As a Maximalist myself I'd like to add some of my opinion:
yes, Bitcoin practically already ruled them all. For example, if you're cashing out your Steem. The most straightforward and widely available way is to sell them for Bitcoin.
there is little value to "blockchain". It's an inefficient database with unacceptable lag and unsustainable metadata bloat by all consumer standards. Bitcoin had to use the blockchain as a means to an end but the blockchain does not define Bitcoin.
99% of all existing dapps and coins will die out, I say that with 80% certainty. "crypto economy" is a very niche thing that will see a very niche use.
"Bitcoin Maximalism" is just a social manifestation recognizing the project with the greatest consensus and application.
It's not like I won't use or learn about other projects. It's just that I recognize without a doubt that Bitcoin will be the asset to which I store my life's value with.
Hope to get a friendly discussion going!
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