Introduction
- bitcoin maximalism.This article, posted on #bitsocial is about an important concept called
What Is Bitcoin Maximalism?
Bitcoin maximalism is the belief that Bitcoin, is the only digital asset that will be needed in the future.
Maximalists believe that all other digital currencies are inferior to Bitcoin.
The maximalist ideology holds the view that other cryptocurrencies are not in line with the ideals established by the pseudonymous Satoshi Nakamoto, who created Bitcoin in 2009.
Body
- Why does bitcoin maximalism exist in a cryptocurrency world defined by freedom?
Reasons for Bitcoin Maximalism
The maximalists are a vocal group of Bitcoin supporters that back Bitcoin above all other digital currencies.
Source
Here are some of the more popular reasons why maximalists believe Bitcoin will render all other cryptos ineffective.
- Bitcoin's network is the most secure and decentralized
- Bitcoin is the future of money
- Bitcoin drives all other cryptocurrency prices
- Bitcoin is pseudo-anonymous
- Bitcoin is a viable payment method
- Bitcoin acts as a store of value, an investment, and a hedge against the effects of inflation
Source
Why did Bitcoin Maximalism Decline?
- There are many reasons, but perhaps the =biggest was the drop in price from the previous all time high of around 60,000 USD to less then 20,000 USD. When bitcoin shed 66% of it;s value, people began to doubt it was the best cryptocurrency token ever, and the supreme cryptocurrency.
Why is it back?
There are many reasons, but chief amongst them is probably price. Bitcoin rose from 20k to 110k and once again, price being the most important thing people see first. They started to believe bitcoin was the best again.
Bitcoin Maxinalism: is it back with a vengeance?I read an article by @julianhorack at this [link(https://inleo.io/profile/julianhorack/blog) and I invite you to read it.
@julianhorack describes many god reasons for the return of bitcoin maximalism, two of which are:
In 2025, this view is bolstered by Bitcoin's strong performance, which reached a price of $110,000, and a market cap of $2.17 trillion, based on 21 million bitcoin, reflecting its dominance at over 45% of the crypto market.
[link(https://inleo.io/profile/julianhorack/blog)
Institutional adoption, such as $15B in ETF inflows, and regulatory moves like Japan's recognition of Bitcoin as a financial product, seem to support this trend.
[link(https://inleo.io/profile/julianhorack/blog)
- But there are more, so please check out his post!
The End
KEY TAKEAWAYS
Bitcoin maximalists believe that Bitcoin is the only digital asset that will be needed in the future
Bitcoin maximalists believe that all other digital currencies are inferior to Bitcoin.
Bitcoin maximalists argue that Bitcoin's shortcomings can be solved, but the investment in alternative blockchains continues to grow.
Bitcoin's scalability issues have led to the development of other blockchain networks that can handle an increased volume of transactions.
Source
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About Me
- I have been a writer on Hive / Steemit for six years, and my focus is on the financial aspects of cryptocurrency, the blockchain, non-fungible digital tokens, stablecoins, decentralized finance and tokenized assets.
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Posted Using INLEO
The back of forth of the maximalist is funny
So if it rises, it’s the best, if it drops, there’s a question…
What is by virtue of sometime bigger than bitcoin, an alt coin rises above the price of bitcoin, will the maximalists still hold?
Or am dreaming right?
Your spot on...if the price volatility affects your convistion, does your conviction really exist?
Not at all
Or do we call them minimalists when it drops🤣?
i am here in this space for past 9 years, i have seen ups and downs. this is how bitcoin works. it goes up, also it goes down. we just need to focus on the bright side of it.
Even though I belong that bitcoin will be so useful in the world, but I don't think bitcoin will be the only one that will be needed in the future. There will still be more rise of more tokens that will be useful same way as bitcoin. Though bitcoin might open the gate to them all
I really hope the price of bitcoin rises back
Unfortunately with this drop, Bitcoin remains one of those that has held up the most and all my maximalist friends have come back to tell me that they were right. HIVE, as I am writing is just under $0.20. Unfortunately I cannot argue with my maximalist friends, if the story ended here, today they would have been right. !DHEDGE
#hive #posh
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