Topic: Bitcoin Maximalism Has Won - page 2. (Read 509 times)

Good.  Shitcoins are for gpu mining ⛏ in order to convert to btc.

I have earned more btc with mining ⛏ Doge,Ltc ,and eth then I have ever earned mining btc.


Investors can stay the fuck away from shit coins. It allows the little guy to get a piece of coin with his gaming rig.

If you have a 2200 usd alien 👽 gaming rig with a 3080 nividia card. it earns 30 cents for each hour it mines. it burns 4 to 8 cents an hour.

So 22 to 26 cents an hour profit. Mine 10 hours a day and make 2.50 so in three years your rig is paid off.

And you can get a new rig. so you get a free alien 👽 gaming pc every three years and sell the old one for 500 usd worth of btc.

Any one that is against that will be on the wrong side of history.

This fact above will always attract the gaming guy/girl to mining a bit with their rig.

Basically being only btc is the exact same as saying gamers cant mine.

reality is gamers can and do mine when they are not using the gaming rig to game.


All btc max should read my signature and believe that over only btc.

And when a Crash Happens again  then New Newbie account will come to Post Against this Thread or something related to this mean   

Same Scenario over again , What i care now is I made a right decision of Converting my XRP Mid of December and have saved my Funds to Bitcoin in which Made another Record for History .

I will going to Have this until it fell down to at least 28k Level ,and will consider to stay in Stable coins.

I hear you Mr Devil's Advocate ;p

But will contenders actually emerge?? BTC, even if viewed as a speculative bet 5 years ago, was still the safe bet when it came to crypto. If you thought crypto was going somewhere, BTC was where you get in. That is something you could only ever say about BTC and to a lesser extent ETH.

ETH is likely to become considered a safer bet as long as DeFi and possibly other use cases continue to grow and it continues to be seen as far and away the dominant smart contract platform, the way BTC has always been viewed as the dominant money crypto.

Now there might be a few other coins in the future that start to become viewed as safe bets to keep growing as long as crypto keeps growing, but right now there are none and there never have been any others. And I would say that if any coins achieve that status they wouldn't really be altcoins anymore. I don't consider ETH an altcoin anymore because it has achieved primary status as THE smart contract platform and I don't think anyone serious questions it is here to stay (unless some other crypto actually becomes an ETH killer but every so called ETH killer so far has failed and the longer ETH remains the champion the less likely it will ever have any real competition). Right now there are two main use cases for crypto and they are exemplified by BTC and ETH, everything else is altcoins and is expendable. Beyond perhaps making tiny speculative plays, institutions won't ever be interested in altcoins that could blip out of existence and nobody would really care.

I agree it's possible in the future for something not BTC and ETH to achieve primary status as a major coin, though I don't know how likely that will be, that is considered safe to invest in long term. But I don't ever see institutions just buying up significant allotments of random altcoins that they hope will moon. Like penny stocks, altcoins are for traders, not for big money to put their wealth into. I can see VC's investing in actual companies pre-IPO that build a business around crypto (Coinbase, Ripple, etc) but I don't see VC's just buying altcoins as an investment.

Devil's advocate: BTC was the speculative play for high risk hedge funds 5 year ago. Now it's much less speculative so larger, more mainstream institutions are entering.

Now ETH is the speculative bet. How about in a few years, or 10? You think it ends there?

It's a lot like the venture capital and penny stock space. Lots of go-nowhere ideas and scams, but contenders always emerge eventually.

Institutions don't care about altcoins. They firstly care about Bitcoin, and secondly as a bit more risky play they care about Ethereum. Everything else are altcoins anyone of them could easily be replaced, even the ones that are serving useful purposes and have momentum and user growth behind them.

Sure there's a small portion of institutions that will put a bit of money in altcoins as a totally speculative play that maybe it'll survive and thrive in the long term, but mostly it's BTC and to a lesser extent ETH. I think once they get used to having a position in BTC more of them will take positions in ETH as well.

Bitcoin is the safe investment for them, because Bitcoin's future has become obvious as a future multi-trillion dollar global reserve source of value. Ethereum is a bit riskier just because blockchain smart contracts haven't yet fully achieved a point at which they will very obviously be a global economic force in the future. But if they do achieve that then Ethereum is almost certain to be the primary platform, and DeFi does seem to be the "killer app" or at least the first lasting big killer app for smart contract ecosystems. Altcoins, on the other hand, are speculative investments in which you hope some of them skyrocket enough to offset your bad bets, so that isn't something most institutions that are looking to grow and preserve value without a lot of risk will be interested in.

Neither retail nor institutions care if a coin is a shitcoin, they all care about the profit that they can make from that shitcoin. Case in point: interest in ethereum!

You shouldn't look at USD price of altcoins, instead check their price against bitcoin...

I don't think so. I believe that we will see the number of altcoins grow for a couple of years but as the market matures more and as more people get dumped on by the shitcoins and lost billions of dollars among them, they eventually stop throwing their money away meaning the number of shitcoins created decreases slowly.
Basically the same thing that happened to ICO tokens. We were initially seeing a couple of tokens created every day but we barely see another new one for weeks.
Eventually the day comes when we only have a handful of altcoins that are actually decent not just some pump and dump schemes like the current top altcoins, and the rest will simply die.

LOL.

First in all sentences you described what is happening now you did not even posted the right one what Bitcoin maximalism means. Bitcoin maximalism means that there can be only one coin and that coin is Bitcoin. Of course not today or this year but in 10-20 years time. That and nothing else is Bitcoin maximalism.

Does the prices show it will win in last 3 months? Not really. Bitcoin had x3, Etehreum had x2.5, Litecoin had x3, Doge had x5. Out of 10000 coins there wil always be one that will price wise outperform.


Oh and, I am 99.999% sure that 20 years form now we will have 1000 times more coins as we have right now

nocoiners say the same thing at the bottom of bitcoin bear markets---same idea.

there's a big difference between an altcoin dropping 80-90% against BTC in a multiple year bear market and "becoming worthless". any bitcoin investor who has lived through a bubble and the bear market that follows should understand that.

maybe "this time is different" but that mindset usually doesn't work out. altcoin greed is inevitable in a bitcoin bubble.


CME is launching ETH futures next month because of institutional interest in hedging spot ETH positions. https://www.cmegroup.com/media-room/press-releases/2020/12/16/cme_group_to_launchetherfuturesonfebruary82021.html

in addition to ETHE data, that tells me there is serious institutional interest in ethereum. an ETH bubble would in turn fuel a general altcoin bubble.

it's retail, not institutions, who will pump and chase shitcoins like BSV of course.

after watching the last couple bubbles, i'm not gonna bother worrying about the fundamentals behind shitcoins. i'm just thinking about how retail greed works in a bubble.

TBH I really hate both Bitcoin Maximalist and Altcoiners as they always believe in their side of the story, if you are seeing words of a one-sided story or with some kind of bias you will always not get the full picture of anything. That's why when newbies believe someone with a one-sided story or prediction they will always end up having a bad decision when it comes to trading as what they based it on is with bias. Its wrong to be one of those person so I think the best way to react in this is not to be one of them but always remain neutral as possible.

I don't think they are near capitulation, there's still quite a lot of hopium. If you look at the Altcoin board or /r/Cryptocurrency, people still say that they plan to wait for altcoin pump, which in their prediction will happen after Bitcoin slows down.

I can see Ethereum going up, it's the main coin for smart contracts and all the stuff based on smart contracts, but what BCH and BSV have to offer? They are just counterfeit Bitcoin, institutional investors would be dumb to buy them.

 

.. I just proved the OPs proposition by demonstration ... idiots.

Fuck off with all your shitcoinery! We don't even need to meta-discuss them.

I think I am misunderstanding this thread.

I thought "Bitcoin maximalism" was the ideology that "people who use altcoins are enemies of Bitcoin", not any of the things OP is talking about.

Did you even read the OP?

It's not about altcoins. It's about the superiority of Bitcoin.

It only mentions shitcoins to point out their failures.

How is bitcoin maximalism toxic if it's just speaking the facts out loud? That part I completely disagree with.

People tend to label common sense with extremism these days. There is good reason why holding BTC and BTC only is the right thing to do. Most other cryptos, if not all, are created for the sole purpose of benefiting the creator via an ICO or the like. They stop development as soon as they secure funding, and there is never an active user base.

BTC is literally the only widely adopted CURRENCY. There may be other blockchain platforms that have adoption, but nowhere near the scale of BTC and they are not primarily mediums of exchange (think ethereum). XRP and others aren't even decentralised.

It's just common sense. Stop calling it toxic when we're simply arguing with a bunch of manipulative conmen pushing their own agenda.

... this thread should be in the Altcoin section ...

why we allow shitcoin threads on Bitcoin Forum is totally beyond me, make your own forum!

Yes that would have been 10x more than now... Unfortunately that time I did not care. I did not want to move my coins from paper wallet to other places just to claim forks.

Well said! Either you believe in Bitcoin or you don't, there is no minimalism or maximalism.


Should have done that right after the fork, lol.

Yes, institution doesn't care about altcoins, or perhaps they are just smarter that majority of us. Bitcoin being the prime mover, what do you expect, will still remain on top and can weathered all the storm.

BCH and BSV and those big blockers argument are still there, but they can't never won in this battle. Bitcoin maximalist are often criticised because of their obvious one side "delusion", but look at where bitcoin is right now.

Depends what you mean by bitcoin maximalist. I've always taken that to mean people who think Bitcoin will take over all national currencies and will be the one world currency. It became obvious that won't happen a number of years ago. If you take a lesser idea for maximalism, like say Bitcoin will be the dominant "money" crypto and will be globally adopted, yeah it is increasingly likely that will happen.

Bitcoin was always the one coin to rule them all. Altcoins have always been just stuff to trade for profit so it's not surprising Bitcoin's dominance eventually came back after the great ICO upheaval of bitcoin's marketcap.

BCH and BSV have always been shit coins whose only purpose was for them to lie to people and try to trick people into thinking they are the real Bitcoin.

DeFi is definitely not a fad so I don't agree with that at all, not sure how anyone could say DeFi is a fad as it is growing quickly and certainly isn't going away. DeFi will be the killer app for Ethereum and other smart contract platforms for the foreseeable future.

XRP has always indeed been a shit coin and it isn't remotely surprising at all that the SEC is finally going after them. It never made any sense for XRP to be among the largest coins, really all that says is that every coin outside of BTC and ETH is small and expendable.

S2F does indeed look good, though at some point it will break down as there is only so much money in the world, but it should stay fairly accurate for a good while longer.

And yeah of course institutions don't care about altcoins. Altcoins are for trading, institutions are looking for long term value. That is BTC and ETH, though at this point ETH is still proving itself.

they were scammed by their own stupidity and this false narrative that have been fed to them that "bitcoin is too expensive".
we can't force people to use their heads.