Maximalism actually HURTS, not helps, #Bitcoin. 🤯
Inspired by @HodlDee, I said I'd do a thread, here it is. The last point is particularly important!
Let's dive in.
1/8
Inspired by @HodlDee, I said I'd do a thread, here it is. The last point is particularly important!
Let's dive in.
1/8
First, definitions. Maximalism is NOT:
"Bitcoin is the best money and crypto in the world today"
It IS:
"Bitcoin is the ONLY crypto that will EVER matter, everything else is a scam or shitcoin"
2/8
"Bitcoin is the best money and crypto in the world today"
It IS:
"Bitcoin is the ONLY crypto that will EVER matter, everything else is a scam or shitcoin"
2/8
First problem: maximalism doesn't allow Bitcoin to use innovations.
The old-school idea was that Bitcoin would absorb the best parts of "altcoins", which acted as testing grounds.
But if everything's seen as a worthless shitcoin, there's no value or innovation to absorb!
3/8
The old-school idea was that Bitcoin would absorb the best parts of "altcoins", which acted as testing grounds.
But if everything's seen as a worthless shitcoin, there's no value or innovation to absorb!
3/8
Second, Bitcoin can't benefit from the crypto ecosystem.
Every #NFT marketplace, #DeFi platform, #Web3 thing should accept Bitcoin payments or have a bridge.
But maxi hostility towards anything not-BTC means Bitcoin actually gets EXCLUDED from where it would work great! 🤦♂️
4/8
Every #NFT marketplace, #DeFi platform, #Web3 thing should accept Bitcoin payments or have a bridge.
But maxi hostility towards anything not-BTC means Bitcoin actually gets EXCLUDED from where it would work great! 🤦♂️
4/8
Third, maximalism leads to poor design choices. Example: the #LightningNetwork. It has its uses, but forcing it to be the way everyone transacts results in a bad user experience, or centralization.
Lightning has become synonymous with Bitcoin's success, leaving no choice.
5/8
Lightning has become synonymous with Bitcoin's success, leaving no choice.
5/8
Fourth, maxmialism drives people to shitcoins.
If they have bad experiences with other crypto, they go to Bitcoin regardless of maximalism.
But if the experience is good, they won't listen to people that tell them what they love sucks, losing the benefit of using Bitcoin.
6/8
If they have bad experiences with other crypto, they go to Bitcoin regardless of maximalism.
But if the experience is good, they won't listen to people that tell them what they love sucks, losing the benefit of using Bitcoin.
6/8
And finally, maximalism makes Bitcoin fail at things!
In a diverse ecosystem Bitcoin can be the best money in the world. But if everything else sucks, then Bitcoin MUST compete at all these things it wasn't meant to do.
It will fail at these, and shaking belief in Bitcoin!
7/8
In a diverse ecosystem Bitcoin can be the best money in the world. But if everything else sucks, then Bitcoin MUST compete at all these things it wasn't meant to do.
It will fail at these, and shaking belief in Bitcoin!
7/8
If you enjoyed this thread, please go to follow my YouTube/@OdyseeTeam channel:
youtube.com/c/digitalcashn…
odysee.com/@DigitalCashNe…
I'm doing a series on PoW vs. PoS, but after that I'm doing a deep video on the Lightning Network's likely (but underreported) future.
8/8
youtube.com/c/digitalcashn…
odysee.com/@DigitalCashNe…
I'm doing a series on PoW vs. PoS, but after that I'm doing a deep video on the Lightning Network's likely (but underreported) future.
8/8
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