Why am I not a bitcoin maximalist?
73 sats \ 10 comments \ @kakocuro 30 Jan bitcoin
As much as I love bitcoin, I'd be naive to think that there is only one that rules them all. Bitcoin as an idea is excellent, and as with all great ideas, they adapt, evolve and change based on the circumstances. Bitcoin has opened floodgates of innovation all over the place. Yes, many bad eggs take advantage of innocent individuals with scams, ponzi schemes and all the other 95% of shitcoins that are out there. However, there are many projects that have taken the Bitcoin idea into other directions, expended on it, improved it and are honestly trying to make the world decentralized without scrutiny and accessible to all.
I am excited about where bitcoin is headed next. Future is bright.
A the same time, this is also why I cannot be a bitcoin maximalist. I also see potential in other projects which are moving along because of bitcoin and are making lives better for many people.
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21 sats \ 2 replies \ @harrr 30 Jan
taken the Bitcoin idea into other directions, expended on it, improved it
Lol. Bitcoin is king because it does precisely what it does. If people wanted something else they'd use something else. Not walking into silly directions and bolting on silly features is a feature.
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0 sats \ 1 reply \ @kakocuro OP 30 Jan
Correct. Bitcoin is a king and will probably remain a king for the forseeable future.
In terms of usage, that is another story. Majority of people do not use Bitcoin for anything and majority of people that have Bitcoin only have it for speculative investment reasons. So, the usage as in money is very minimal.
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0 sats \ 0 replies \ @harrr 30 Jan
In terms of usage, that is another story
Usage is a non-story. What's the most used token on this planet? The USD. And it is complete garbage.
So, the usage as in money is very minimal.
Store of value is one of the main functions of money, using bitcoin to store value IS using it as money.
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21 sats \ 1 reply \ @quark 30 Jan
It is good to be open minded. But there are mainly two big players, Bitcoin and Ethereum. I can see some projects wanting to kill Ethereum, but no project is brave enough to even think to kill Bitcoin. In the end there will probably always be many cryptocurrencies for different uses, same as there are different fiat currencies. At least for now.
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0 sats \ 0 replies \ @kakocuro OP 30 Jan
Open mind is the key for sure. I am not looking at it in terms of big/small players. There are some protocols which serve a particular niche which would not be here if it wasn't for bitcoin. These protocols will not be as big as bitcoin, but are useful nevertheless.
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21 sats \ 1 reply \ @5centvalentine 30 Jan
IMO, it's a matter of time preference. When you realize that you may not live to see the full potential of bitcoin, you can then understand what bitcoin truly is. It is wrestling the power of preserving wealth back to the people and eliminating central banks/human intervention in monetary value structure. There will be only one measuring stick that is applicable to all humans and is truly decentralized. All other crypto projects "taking the bitcoin idea into other directions, expanding on it, improving it and trying to make the world decentralized" will neither expand on it, improve it, nor be decentralized, as these projects are led by high time preference individuals trying to enshrine their name/leave a legacy. Truth is, they will die and be forgotten, even if their project has any sort of success in the short term. All things they claim to be doing will be possible with/on bitcoin in the long term. I think Parker Lewis' "Bitcoin Obsoletes All Other Money" explains this topic best. Just my 2 sats on becoming altcoin-adverse.
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0 sats \ 0 replies \ @kakocuro OP 30 Jan freebie
Your focus is too narrow. You think of bitcoin as only money and freedom. Bitcoin is many things to many people (money, technology, freedom, investment, status, gamble, etc.), however, it is not suited for every aspect of our lives. In terms of technology, I'd argue that innovation is constant, so to say that other projects will not succeed is just plain wrong. By success, I do not mean, replace bitcoin. I mean to have a thriving purpose.
0 sats \ 0 replies \ @satoshiplanet 30 Jan
https://m.stacker.news/14363
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0 sats \ 0 replies \ @03479d0ee6 30 Jan
Bitcoin is money, and blockchain is good enough for the simple use case of money, for more than that is terrible and ineffective. All other "projects" either are scams or bad ideias thinking it's good to put everything on blockchain, from social media to games. Nostr is a good example that you don't need blockchains or tokens to be decentralized. Most of everything else is just gambling on tokens that are all going to zero against bitcoin, including ethereum the mother of all shipcoins.
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0 sats \ 0 replies \ @SwearyDoctor 30 Jan
I mean, of course in general there is always room for multiplicity and different ideas. I'd argue bitcoin maximalism isn't some intolerant religious madness, it's an understandable result of a quite curious exception: Tech-wise, are other projects good? I'm dure there are some great projects there. The problem is that they're all made by dev teams, financed by VC, with paid programmers and boards and lawyers. Bitcoin isn't king because it has unattainable, inimitable tech. Of course it's not inimitable. Its status, I'd argue, comes solely from something the others don't -want- to attain: its orphan status. Because it has no team, no VC, no company, no institutionalized dev team, it's becme unassailable by the power sztructres that be. They gain control over everything (and the rich parts of the "everything" gets control over them because they have to be incorporated, have a legal form, and as that, they're in the grips of the existing power structures. How's Monero on this? This is an honest question,
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