1/8>Crypto maximalism is so incredibly arrogant. It fails to recognize the complexity of this subject, and it lacks the humility to accept the possibility of being wrong about your convictions.
$BTC, $ETH, and other maximalists, please take a minute to think about this 👇
2/8>Cryptos are part of a brand new asset class incredibly revolutionary and complex; no on in the world has a perfect understanding of it.
3/8>To fully comprehend cryptos you need to:
-Be an expert in computer science involving databases, networking, cryptography, virtualization and programming. Or trust in an expert who can comprehend and attest for the technological soundness.
4/8>-Have an elevated understanding of macro-economics. Or trust in an expert in this subject who can comprehend and attest for economic/monetary soundness.
5/8>-Have a historical understanding of monetary economics, politics and how both relate to crypto.
-Have a vision of how society will be transformed by technology next couple of decades. Also, what are the political/social changes and implications.
6/8>-Have an understanding of how the technical, economic and political properties of cryptos are combined to form a greater whole.
-Have a vision of all the different ways that crypto networks will be used and how much value they will generate in the future as society evolves.
7/8>If you think you have all the knowledge it takes to take a maximalist stance, then you are not only a narcissist, you are also an investor who does not know how to practice risk mitigation.
8/8>Crypto tweeter needs less memes, but more humility.
Less exchanges of insult, but more more learning from each other.
Less idealism, more pragmatism.
Wouldn't it be nice browsing through tweets without having to witness the equivalent of monkeys throwing feces at each other?
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“Bitcoin’s payment system malfunctioning is not the same as the asset losing value.”
The #Bitcoin payment system (the engine) cannot exist without $BTC the asset. There would be no
2/way to provide economic incentives for miners without bitcoin tokens, and miners would have nothing to process unless users have ownership of bitcoins. Conversely, the bitcoin asset cannot exist without the payment system because it is the only way users get to spend
3/their $BTC. A monetary asset that cannot be transacted would be completely worthless.
Bitcoin only exists within the context of its payment system. Therefore, the value of Bitcoin is entirely dependent on the soundness of the payment system because it is what guarantees