create account

Trying to understand the Bitcoin Maximalist by knircky

View this thread on: hive.blogpeakd.comecency.com
· @knircky · (edited)
$9.07
Trying to understand the Bitcoin Maximalist
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?
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 35 others
properties (23)
authorknircky
permlinktrying-to-understand-the-bitcoin-maximalist
categorybitcoin
json_metadata{"tags":["bitcoin","maximalism"],"app":"steemit/0.1","format":"markdown"}
created2018-11-25 04:22:36
last_update2018-11-25 04:39:21
depth0
children30
last_payout2018-12-02 04:22:36
cashout_time1969-12-31 23:59:59
total_payout_value7.001 HBD
curator_payout_value2.071 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length2,173
author_reputation212,905,587,244,262
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,864,289
net_rshares14,769,247,242,033
author_curate_reward""
vote details (99)
@cloudblade ·
ICO has 95% of the scams. This is my experience. I have participated in no less than 1,000 ICOs, but 80% of the 90% of them cannot be said to be a scam because office had sent you ERC20 tokens, but it after listing price only <1/10.
Therefore, ERC has become the main force of ICO, and it also has the cause and effect of its speculation.
The BTC is therefore unable to become a leader.
BTC at beginning release, because of the lack dispersion ( concentrated at someone ).
now people's acceptance BTC and use BTC, but not more, because he join to late, he think , he use BTC, 
= to lift the car for the those Early person. Therefore, the BTC participants will not be very enthusiastic. On the contrary, ERC participants is better enthusiastic.
properties (22)
authorcloudblade
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181130t090517597z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-30 09:23:12
last_update2018-11-30 09:23:12
depth1
children0
last_payout2018-12-07 09:23:12
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length743
author_reputation26,961,334,885,138
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id76,140,104
net_rshares0
@darthgexe ·
We can be sure of is that the blockchain came to stay, of that there is no doubt. Now if it will be bitcoin or another alt the main currency in the future, I think the maximalists are wrong, the bitcoin is the precursor of the crypts and has fulfilled its function but have come out other projects with considerable improvements, in my opinion currencies like ethereum that allow smart contracts where each company can create tokens backed by the same network have a great future .

I share your thinking, being bitcoin maximalist goes against the same concept of bitcoin.

properties (22)
authordarthgexe
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181126t125256184z
categorybitcoin
json_metadata{"community":"busy","app":"busy/2.5.6","format":"markdown","tags":["bitcoin"],"users":[],"links":[],"image":[]}
created2018-11-26 12:53:00
last_update2018-11-26 12:53:00
depth1
children0
last_payout2018-12-03 12:53:00
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length574
author_reputation53,698,277,893,330
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,932,830
net_rshares0
@difelice5000 ·
# Bright
@knircky Much of what you say is completely true I agree with you in your opinion, meanwhile the Biycoin is one of the best known, when you converse with someone about crypto coins and these are not very familiar, the first thing they mention is the Bitcoin , use it as a reference, so much so, that when the Bitcoin experienta a low in price, all other currencies follow it as a domino effect, then, it is simple to observe how the leader in this type of coins, and how people treat this kind of informs As Anteriromente explains, the Bitcoin will continue to be the first to mention when it comes to Crptomonedas.
I am sure it is not the only crpto viable currency, but it is the one that has kept up to significant values, for longer, and, the facts speak for themselves, there may be many opinions found, but ultimately the bitcoin will continue to maintain its Resistance between certain significant and attractive values, it will remain safe and stable in its cryptography, and its trajectory supports it, I am sure that it prevailed.

https://postcron.com/es/blog/wp-content/uploads/2015/05/Brilliant_1.gif
πŸ‘  ,
properties (23)
authordifelice5000
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181129t111353756z
categorybitcoin
json_metadata{"tags":["bitcoin"],"users":["knircky"],"image":["https://postcron.com/es/blog/wp-content/uploads/2015/05/Brilliant_1.gif"],"app":"steemit/0.1"}
created2018-11-29 10:44:48
last_update2018-11-29 10:44:48
depth1
children0
last_payout2018-12-06 10:44:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,122
author_reputation18,373,246,173,377
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id76,089,395
net_rshares4,888,592,644
author_curate_reward""
vote details (2)
@ernesto-guzman ·
i still hold my btc . i am not expert in crypto but i just believe btc will come back with more power.
properties (22)
authorernesto-guzman
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t110411908z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 11:04:15
last_update2018-11-25 11:04:15
depth1
children0
last_payout2018-12-02 11:04:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length102
author_reputation1,070,939,901,743
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,875,921
net_rshares0
@frdem3dot0 ·
$1.70
I also dont understand the bitcoin maximalists and thinking that we need ONE coins is just stupid. I think that in the future we will have many coins and users will not even know since every coin will be payable via interchain transactions to any other. People will choose which coin to hold according to the features the value the most. 

While bitcoin maximalists are certainly strange, what I see much more are bitcoin minimalists, claiming that bitcoin is not useful anymore. But there I would disagree very much!

Bitcoin is ...
__the most secure coin__. It has PoW which is tested and well understood. It has massive hash power behind it. The code is permanently reviewed by hackers trying to brake it to make profit. Developers are very careful. Blocks are small so that it remains reasonably decentralised. Imagine a coin like 0x suddenly shoot up to the marketcap of bitcoin? Would anyone find a serious bug. I think that is rather likely.
__it is leading innovation__. Currently the smartest people are developing bitcoin. They move slow and are not trying new revolutionary ideas. But there is still a lot of innovation implemented in bitcoin. The big question is what happens to lightning network. 
__it has strong fundamentals and does not try to do everything__. Open decentralised and secure money is a solid product. No need to add more.

What I see is bitcoin making a lot of development in a good direction. It may seem boring because of all the alternatives that make crazy claims and have revolutionary new ideas. But these are not properly tested at large stake and often nothing but empty promises. It is far to early to declare bitcoin dead. I have not seen a real alternative so far. Because just changing blocktimes/sizes is not revolutionary, neither is using PoS which currently should not be used for open money but rather for smart contracts. 

When I see a great new idea, I am happy to look into it, but as of now bitcoin is still the leader because it is just as good but more mature than all of the alternatives. Right now the biggest question is lightning. If it works well and people can use it comfortably, bitcoin will certainly have a very good medium term outlook.
πŸ‘  
properties (23)
authorfrdem3dot0
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181126t091718662z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-26 09:17:18
last_update2018-11-26 09:17:18
depth1
children0
last_payout2018-12-03 09:17:18
cashout_time1969-12-31 23:59:59
total_payout_value1.278 HBD
curator_payout_value0.426 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length2,203
author_reputation5,680,052,681,361
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,924,590
net_rshares2,709,546,497,143
author_curate_reward""
vote details (1)
@guest2888 ·
$0.12
For now bitcoin is a large-scale gamble scheme with elements of religion. When bitcoin or crypto projects somehow will generate cashflow (dividends, sustainable business etc), then yes you can be maximalist. 

P.S. I love the idea and the movement, but I'm a realist.
πŸ‘  
properties (23)
authorguest2888
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181201t124454081z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-12-01 12:44:54
last_update2018-12-01 12:44:54
depth1
children0
last_payout2018-12-08 12:44:54
cashout_time1969-12-31 23:59:59
total_payout_value0.088 HBD
curator_payout_value0.029 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length267
author_reputation25,871,469,569
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id76,195,597
net_rshares192,778,988,160
author_curate_reward""
vote details (1)
@jaybird ·
For me it comes down to utility and what problems the currency is solving. Ie. a useable currency, private transactions or generating compensation for content etc. 

Bitcoin isn’t annonymous for example so that’s 1 reason why other cryptos might be needed and coupd succeed.
properties (22)
authorjaybird
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t080944194z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 08:09:45
last_update2018-11-25 08:09:45
depth1
children0
last_payout2018-12-02 08:09:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length274
author_reputation382,564,786,007,040
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,870,705
net_rshares0
@mawit07 ·
most altcoins paired with btc in trades. Make sense btc would be most valued. There has yet to be another crypto as highly paired trade than btc. To me it seems like altcoins were created to divide btc amount those who were late in amassing btc but are cryptographers and programmers. 
πŸ‘  
properties (23)
authormawit07
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t050048201z
categorybitcoin
json_metadata{"community":"busy","app":"busy/2.5.6","format":"markdown","tags":["bitcoin"],"users":[],"links":[],"image":[]}
created2018-11-25 05:00:51
last_update2018-11-25 05:00:51
depth1
children0
last_payout2018-12-02 05:00:51
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length285
author_reputation802,504,170,108,668
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,865,350
net_rshares14,862,346,878
author_curate_reward""
vote details (1)
@meno ·
$1.70
Some of their arguments make perfect sense and no doubt do not require much mental flexibility to agree with them. However, there are many things being said that boil down to basic tribalism and thus do not warrant much merit in my personal opinion.

As you've pointed out, the power that BTC has, the original, the decentralized ledger is obvious, and unless you are unwilling to accept truth, you have to accept that out of still <b>small percentage</b> of humans who know about cryptocurrencies, 99% if them know only about bitcoin. This might be the very reason why it is and probably will remain the king of crypto. In very much the same way that Coca Cola is not the best Cola, yet it's the king of it's own kingdom.

Tone Vays is in my opinion someone who's ideas have to be taken with a grain of salt. He, like many other maximalists have very ineffective arguments against the tokens they call scams, and sound the <b>"listen to the market"</b> drums while not having one ear available themselves.

Regardless of the <b>original white paper</b> the almost constitutional document that people seem to worship, there is one thing the maximalists do get right.

<h2>Bitcoin is a store of value, the new gold</h2>

It makes some people angry, it makes most people who hold on to the original idea with white knuckles furious. I mean, what happened to digital cash? - The answer to me is obvious, at least at this very moment. 

<b>The market is not ready!</b> - People don't really need Bitcoin to buy their coffee, they got a working debit/credit card for that, and it's more convenient, much more convenient.

So when the maximalists and the alt coiners discuss, they are coming from two different angles, meaning they see the proposition of cryptocurrencies like solutions to two different problems.

<h1>Maximalists</h1>
Know with conviction, that Bitcoin will replace gold, and that those that hold on to Bitcoin will be able to remove themselves from the market manipulations that Gold has been a victim of. In other words, with Bitcoin they win the battle in that front.

You could say that the same psychological profile who was accumulating gold prior to the creation of Bitcoin, is the one hording the intangible tokens right now.

<h1>Alt Coiners</h1>
Are arguing mostly for utility. They don't want gold, they recognize it already exists. On top of that, many alt coiners recognize Bitcoin as a store of value, so their positive sentiments for alt coins is not an invalidation of their appreciation of Bitcoin.

To an altcoiner, a new token can solve other issues. Content economy dynamics, Social Media, Medical Ledgers, and Contracts. 

All this to say... they are disagreeing while at the same time not talking about the same thing at all.
πŸ‘  ,
properties (23)
authormeno
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t044153263z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 04:41:42
last_update2018-11-25 04:41:42
depth1
children3
last_payout2018-12-02 04:41:42
cashout_time1969-12-31 23:59:59
total_payout_value1.274 HBD
curator_payout_value0.424 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length2,759
author_reputation528,484,108,255,142
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,864,812
net_rshares2,694,965,805,671
author_curate_reward""
vote details (2)
@connecteconomy ·
What @meno said! 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
properties (22)
authorconnecteconomy
permlinkconnecteconomy-re-meno-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t164352663z
categorybitcoin
json_metadata{"app":"partiko"}
created2018-11-25 16:43:54
last_update2018-11-25 16:43:54
depth2
children0
last_payout2018-12-02 16:43:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length79
author_reputation177,018,273,436,289
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,890,246
net_rshares0
@knircky ·
K, but what do you think is model or reasoning why someone believes bitcoin is the only viable cryptocurrency
properties (22)
authorknircky
permlinkre-meno-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t171956121z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 17:19:54
last_update2018-11-25 17:19:54
depth2
children1
last_payout2018-12-02 17:19:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length109
author_reputation212,905,587,244,262
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,891,740
net_rshares0
@meno ·
Because they believe that only it can replace gold, and gold can be sold just about anywhere in the world. 

I see their point, but I don't necessarily agree 100% - Currency the word itself has an etymological background that implies flow. (condition of flow). 

Bitcoin has become a store of value, that is accurate, at least against fiat. But the maximalist conflate all these terms, and somehow believe that at some point in time, they will have a change of heart and spend BTC for coffee, as if it's a switch someone will flip inside their minds.

Tone Vays, a super maximalist who is the very definition of what you are talking about, the epitome. He said he's never bought anything with bitcoin, because it's not meant to be used to purchase things. 

In other words, he commited argumentative harakiri and smile all the way through. 

Truth is you can't have it both ways.
properties (22)
authormeno
permlinkre-knircky-re-meno-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t172606768z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 17:26:06
last_update2018-11-25 17:26:06
depth3
children0
last_payout2018-12-02 17:26:06
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length879
author_reputation528,484,108,255,142
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,891,990
net_rshares0
@n1hal ·
I think this happened because bitcoin was first of its kind and it's underlying technology is being bettered which in a way maximalists don't like. The whole thing is bitcoin is becoming weaker in our eyes with altcoin providing better blockchain and faster transactions. Ethereum cannot be called a scam because it ran a proper ICO and is functioning perfect right now because at the start even bitcoin looked like a scam but scam later turned to awesomeness after people started harnessing it's various benefits. I don't think there should be any bitcoin maximalist existing, if he does he isn't seeing the future of crypto but is just trying to blanket poor bitcoin from various powerful altcoin due to technological benefits.
πŸ‘  
properties (23)
authorn1hal
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t064155876z
categorybitcoin
json_metadata{}
created2018-11-25 06:41:54
last_update2018-11-25 06:41:54
depth1
children0
last_payout2018-12-02 06:41:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length729
author_reputation3,022,575,725,729
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries
0.
accountsteem-bounty
weight1,500
max_accepted_payout100,000.000 HBD
percent_hbd10,000
post_id75,868,249
net_rshares0
author_curate_reward""
vote details (1)
@n1hal1 ·
Bitcoin was the first crypto currency created so I think maximalists like only Bitcoin and don't like the way other crypto are proving to be better. In a way I feel they are trying to incubate Bitcoin from defame and competition from other crypto
properties (22)
authorn1hal1
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181130t041117437z
categorybitcoin
json_metadata{}
created2018-11-30 04:11:30
last_update2018-11-30 04:11:30
depth1
children0
last_payout2018-12-07 04:11:30
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length246
author_reputation4,902,470,100
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries
0.
accountsteem-bounty
weight1,500
max_accepted_payout100,000.000 HBD
percent_hbd10,000
post_id76,130,313
net_rshares0
@ranggayusuf ·
@knircky i think step by step you going on become bitcoin maximalist, by keep a good chance in this community
properties (22)
authorranggayusuf
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181127t114854363z
categorybitcoin
json_metadata{}
created2018-11-27 11:48:54
last_update2018-11-27 11:48:54
depth1
children0
last_payout2018-12-04 11:48:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length109
author_reputation97,592,329,117
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries
0.
accountsteem-bounty
weight1,500
max_accepted_payout100,000.000 HBD
percent_hbd10,000
post_id75,984,062
net_rshares0
@steem-bounty ·
$0.66
Buonty added
@knircky has set 5.000 STEEM bounty on this post!
 ![logo_for-light-bg_1000.png](https://steemitimages.com/DQmdYbGNQCwrAsveg9Yv5YeRqCCzjCYhoavinDwYLqPN9mu/logo_for-light-bg_1000.png)   <br>


Bounties are  a new way you can earn rewards irrespective of you Steem Power.  Go [here](https://steemit.com/steem-bounty/@rjoshicool/how-to-use-steem-bounty-one-of-the-most-popular-dapp-on-steem-blockchain) to learn how bounties work.

Earn the bounty by commenting what you think the bounty creator wants to know from you.

[Find more bounties here](https://steem-bounty.com/) and become a bounty hunter.

Happy Rewards Hunting!
πŸ‘  , , , , , , , , , , , , , , , ,
properties (23)
authorsteem-bounty
permlinkre-trying-to-understand-the-bitcoin-maximalist-20181125t042511
categorybitcoin
json_metadata"{"percent_steem_dollars": 0, "permlink": "trying-to-understand-the-bitcoin-maximalist", "allow_curation_rewards": false, "allow_votes": false, "author": "knircky", "max_accepted_payout": "0.000 SBD"}"
created2018-11-25 04:25:12
last_update2018-11-25 04:25:12
depth1
children1
last_payout2018-12-02 04:25:12
cashout_time1969-12-31 23:59:59
total_payout_value0.498 HBD
curator_payout_value0.163 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length622
author_reputation165,407,149,540,022
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,864,355
net_rshares1,051,512,032,645
author_curate_reward""
vote details (17)
@steem-bounty ·
Bounty Payout
Congratulations to the following winner(s) of the bounty!
- @meno has earned 2.213 STEEM. 2.205 STEEM from the creator of the bounty and 0.008 STEEM from the community! 
[Find more bounties here](https://steem-bounty.com/) and become a bounty hunter.
- @frdem3dot0 has earned 2.205 STEEM. 2.205 STEEM from the creator of the bounty! 
[Find more bounties here](https://steem-bounty.com/) and become a bounty hunter.
- @guest2888 has earned 0.082 STEEM. 0.082 STEEM from the community! 
[Find more bounties here](https://steem-bounty.com/) and become a bounty hunter.
πŸ‘  
properties (23)
authorsteem-bounty
permlinkre-re-trying-to-understand-the-bitcoin-maximalist-20181125t042511-20181202t042255
categorybitcoin
json_metadata"{"permlink": "re-trying-to-understand-the-bitcoin-maximalist-20181125t042511", "max_accepted_payout": "0.000 SBD", "allow_curation_rewards": false, "allow_votes": false, "percent_steem_dollars": 0, "author": "steem-bounty"}"
created2018-12-02 04:22:57
last_update2018-12-02 04:22:57
depth2
children0
last_payout2018-12-09 04:22:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length565
author_reputation165,407,149,540,022
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id76,226,689
net_rshares482,517,571
author_curate_reward""
vote details (1)
@themanwithnoname ·
$0.11
I can't help you there. Although I think that Bitcoin has done a lot as the first mover in the space, I don't think it will be the crypto that is ultimately adopted as the primary mainstream crypto currency. The primary reason: it's too slow. Although it's possible to transfer large sums of money inexpensively, it takes too long to complete transactions. It's not feasible to use in everyday transactions for coffee, groceries, misc purchases. 

I think that Bitcoin is the social media equivalent of Myspace. Another challenger will come along and be the Facebook of crypto. Heck, it could be Facebook's crypto. Just kidding. :)
πŸ‘  , ,
properties (23)
authorthemanwithnoname
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t051911165z
categorybitcoin
json_metadata{"community":"busy","app":"busy/2.5.6","format":"markdown","tags":["bitcoin"],"users":[],"links":[],"image":[]}
created2018-11-25 05:19:12
last_update2018-11-25 05:19:12
depth1
children10
last_payout2018-12-02 05:19:12
cashout_time1969-12-31 23:59:59
total_payout_value0.082 HBD
curator_payout_value0.027 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length631
author_reputation27,720,428,062,795
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,865,897
net_rshares175,496,469,963
author_curate_reward""
vote details (3)
@patrickulrich ·
I disagree on it's speed. Bitcoin is extremely fast if you are using it in a way that allows it to be transferred at high speeds. All you have to do is send along the UTXO set that you're wanting to transfer. There's a number of means to do that without relying on just the traditional network.

I view BTC transactions as forms of moving cash. If you want to move cash from person to person you can just transfer paper wallets or preferably OpenDime from person to person. If you want to do networked versions then lightning would be your replacement for credit cards. Finally if you want to wire transfer then you would just do a traditional BTC tx on the network and wait for your funds to be validated.
properties (22)
authorpatrickulrich
permlinkre-themanwithnoname-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t072940629z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 07:29:42
last_update2018-11-25 07:29:42
depth2
children6
last_payout2018-12-02 07:29:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length706
author_reputation92,185,416,218,701
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,869,591
net_rshares0
@themanwithnoname ·
I don't know about all the off-chain solutions for Bitcoin. I was mainly speaking to the 10 minute block time of the network. They won't speed it up, and someone isn't going to wait 10 minutes in line just to check out. That's mainly what I'm saying. You could still use it to hold large sums of money, but I don't think it would make sense for day to day transactions. 

Just my $0.02 worth. Wait, the markets dropped. It's only my $0.01 worth. ;)
properties (22)
authorthemanwithnoname
permlinkre-patrickulrich-re-themanwithnoname-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181126t050321083z
categorybitcoin
json_metadata{"community":"busy","app":"busy/2.5.6","format":"markdown","tags":["bitcoin"],"users":[],"links":[],"image":[]}
created2018-11-26 05:03:21
last_update2018-11-26 05:03:21
depth3
children0
last_payout2018-12-03 05:03:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length448
author_reputation27,720,428,062,795
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,916,204
net_rshares0
@vimukthi ·
Dash/PIVX offers InstantSend which is as good as 6 confirmations and only takes about a second. EOS has 0.5 second block time. UTXO is absolutely not safe in a network where congestion is a regular thing. BTC is dial up internet. It doesn't have a future and it won't matter in the future. If the world has to move on, BTC has to go.
properties (22)
authorvimukthi
permlinkre-patrickulrich-re-themanwithnoname-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t210238067z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit/0.1"}
created2018-11-25 21:03:15
last_update2018-11-25 21:03:15
depth3
children4
last_payout2018-12-02 21:03:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length333
author_reputation502,057,021,261,943
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,900,077
net_rshares0
@vimukthi ·
I've actually written that Bitcoin is like dial up internet an deserves to be in a museum than in use: https://steemit.com/technology/@vimukthi/the-internet-didn-t-change-the-world-and-your-children-will-feel-sorry-for-you-for-having-to-use-bitcoin-analyzing-a-1995
properties (22)
authorvimukthi
permlinkre-themanwithnoname-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t205944362z
categorybitcoin
json_metadata{"tags":["bitcoin"],"links":["https://steemit.com/technology/@vimukthi/the-internet-didn-t-change-the-world-and-your-children-will-feel-sorry-for-you-for-having-to-use-bitcoin-analyzing-a-1995"],"app":"steemit/0.1"}
created2018-11-25 21:00:21
last_update2018-11-25 21:00:21
depth2
children2
last_payout2018-12-02 21:00:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length265
author_reputation502,057,021,261,943
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,899,969
net_rshares0
@themanwithnoname ·
$0.03
I have been really impressed with what I've heard from Hashgraph. The fact they're able to do transactions so quickly is crazy as compared to Bitcoin. While Bitcoin purposely slows down transactions to make sure they are legitimate, Hashgraph passes them at lightspeed. From what I understand there are already a number of banking institutions that are using Hashgraph. I think at this point, that's probably one of our frontrunners in terms of what will actually be used in checkout lines. 
πŸ‘  
properties (23)
authorthemanwithnoname
permlinkre-vimukthi-re-themanwithnoname-re-knircky-trying-to-understand-the-bitcoin-maximalist-20181126t050106291z
categorybitcoin
json_metadata{"community":"busy","app":"busy/2.5.6","format":"markdown","tags":["bitcoin"],"users":[],"links":[],"image":[]}
created2018-11-26 05:01:06
last_update2018-11-26 05:01:06
depth3
children1
last_payout2018-12-03 05:01:06
cashout_time1969-12-31 23:59:59
total_payout_value0.021 HBD
curator_payout_value0.007 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length491
author_reputation27,720,428,062,795
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,916,129
net_rshares47,223,919,953
author_curate_reward""
vote details (1)
@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/knircky__trying-to-understand-the-bitcoin-maximalist.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
properties (22)
authortts
permlinkre-trying-to-understand-the-bitcoin-maximalist-20181125t044112
categorybitcoin
json_metadata""
created2018-11-25 04:41:12
last_update2018-11-25 04:41:12
depth1
children0
last_payout2018-12-02 04:41:12
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length362
author_reputation-4,535,154,553,995
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,864,798
net_rshares0
@vimukthi ·
It's just basic tribalism. They first pick a doctrine/ideology and try to make the facts fit the theory. Bitcoin Maximalist are the banker equivalent of crypto-sphere. What reasons do bankers bring up against cryptocurrency - you can find an equivalent among Bitcoin Maximalists against any crypto that is not named Bitcoin.

There is absolutely __zero__ technical achievements/moat that is exclusive to Bitcoin and most coins including Ethereum can do anything Bitcoin does better with more features.

To me Bitcoin Maximalists and Bankers are basically Republicans and Democrats. They are against each other. But a person with good sensibilities should avoid both of them.

Bitcoin Maximalists stick their heads in the sand when it comes to InstantSend that give roughly 1.3 second confirmations. hey refuse to accept on-chain governance. Any project that is linked to Bitcoin with the exception of Komodo is a failure while many projects on http://www.blocktivity.info are rocking it. The maximalists are also oblivious to the decentralization created by DPoS as opposed to few mining pools. PoW is nowhere as decentralized as DPoS: https://steemit.com/statistics/@vimukthi/forget-51-attacks-coingeek-now-control-67-hash-power-and-they-are-loosing-usd370-000-usd-per-day

### Three Things Makes A Bitcoin Maximalist
- Arrogance/Elitism
- Being oblivious to facts and tech development
- Tribalism

Don't bother with reasons. They will use any logic/excuse/theory to fit their delusional agenda.
properties (22)
authorvimukthi
permlinkre-knircky-trying-to-understand-the-bitcoin-maximalist-20181125t211921242z
categorybitcoin
json_metadata{"tags":["bitcoin"],"links":["http://www.blocktivity.info","https://steemit.com/statistics/@vimukthi/forget-51-attacks-coingeek-now-control-67-hash-power-and-they-are-loosing-usd370-000-usd-per-day"],"app":"steemit/0.1"}
created2018-11-25 21:20:00
last_update2018-11-25 21:20:00
depth1
children0
last_payout2018-12-02 21:20:00
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,496
author_reputation502,057,021,261,943
root_title"Trying to understand the Bitcoin Maximalist"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id75,900,646
net_rshares0