I am not a bitcoin maximalist, but I think many smart people are.
The reason why I am not a Bitcoin maximalist is because it does not fit with my personal model of what I believe bitcoin is.
The thing is I may be wrong. So I'd like to understand what truth is behind this conviction.
Why Bitcoin Maximalist?
The prominent bitcoin maximalists that I know are folks like Tone Vays as well as many of his partners or friends that often join is podcast such as Willy Woo, Tyler, etc.
Most of these guys don't like ICOs, call them scams and believe bitcoin should reign supreme, things like ETH are a pure scam and useless.
I do believe that these folks see bitcoin as a new form of money with distinct attributes that make it supreme over other existing forms.
These are:
- unconfiscatable asset
- unconfiscatable transactions
- an asset that cannot be inflated (fixed money supply)
I do believe that these are very key features of bitcoin. I agree with those entirely and that was the first thing I understood about bitcoin and immediately made me see a huge potential for it.
However what I do not understand is why bitcoin must be the only one? I do not understand this, I don't quite comprehend the model that would make me think that all but bitcoin itself is bad. In fact, according to my thinking this sort of centralization is bad and goes against the security of bitcoin itself.
There must be a standard
What I also agree with it is that there needs to be a global standard for money and commerce. A global currency and I think that BTC could take that place. This will lead to a natural de facto monopoly of one kind of money and as a result. I do believe that if bitcoin succeeds it will kind of reign supreme in a way the maximalist envision.
I do however believe that such a standard will evolve via different currency in competition with each other and that this open competition is what bitcoin creates in combination with its copies and newly created cryptocurrencies.
Again here a maximalist view does not make sense to me.
So I don't quite get it
Can you explain the mondel of bitcoin that makes someone a bitcoin maximalist to me?