Topic: Bitcoin maximalists are doing more harm to the crypto space than good ? (Read 622 times)

I agree with Bitmover. Nobody understand this market well as it is still new and there are more unknowns than known facts. In my opinion, BTC is oldest crypto with highest market capitalization and liquidity. This is why my choice is to invest only in BTC.

Perhaps, this people just want to build hype for their investment to grow, not really supporting crypto itself but their personal interest in cryptocurrency. For example, if they just posted on twitter about a hype that was about to happen when in fact, developers clearly know what the upgrade is about then these "maximalist" are creating more stories that they can, just to attract investors that aren't ready. The problem is when normal people just got baited, not knowing allot about crypto then they lost their investment, as an effect, they will have negative impression to cryptocurrencies.

Agreed! This maximalist has declared that every cryptocoin that is not bitcoin is scam and he has made it appear that holding any cryptocoin that is not bitcoin a sin.



However, he is part of a project that issued a token in Ethereum. Did he admit defeat hehehe? It appears that this is an type of welcome that ERC20 is the standard for token issuance in the cryptospace.

It is best to let it all go natural, bitcoin proponents often do not have any knowledge of how to view the source code of a cryptocurrency. They just get bitcoin to market people outrageously and blindly. Over the years people are still suffering from FOMO for believing in unsubstantiated statements and invitations. There are a lot of people who have lost money because of crypto and so they hate crypto in some way.

I believe those are the most important terms here:
OpenMind and Scams.

I am not a bitcoin maximalist. I have, in my portfolio, about 80% bitcoin. There was times with 50% and others with 90% (due to high volatility).

However, when ANYONE asks me for investment advice regarding cryptocurrency, I try to be a bitcoin maximalist (and a lot of people ask me, because bitcoin/crypto is still highly unkown and not well understood even by most " tech guys" )

I don't truly believe in ANY of those project as much as I believe in bitcoin. If I had to scale in confidence/security, I would give bitcoin an 8-9 and the best altcoins (imo) at most a 5 (I don't want to say which ones I believe now, but they are very few).

Some other day I saw a person which a respect a lot, an old guy who loves gold and traditional markets and has an youtube channel . He was chilling EOS and saying that is his biggest cryptocurrency holding.

I don't know if he was scammed or if he is being paid to promto that shitcoin, just like jameson loop did.


Usually, most of those altcoin projects are heavily hyped, very dangerous (they can go 1000% up and 99,5% down within a few weeks).

There are some good projects? Well, there are. And they certainly should be incentived. But there are far too many scams.

The thing is they are specifically investing in : Bitcoins and therefore they prefer bitcoins over any other cryptocurrencies which inturn creates a bad example on behalf of them but at the end of the day everyone is entitled to their opinions.

You can support Bitcoins but that does not give you any right to actually say bad stuff about other cryptocurrencies since most of them are integrated with each other , thus creating an ecosystem that supports bitcoins and their own coins too .

I remember the time I did a post about ERC20 tokens integrating them with Bitcoins being favoured by marketers all over the world , I did get a lot of negative comments . Having an open mind can go multiple ways, if you support Bitcoin's it does not mean you have to say negative stuff about someone's hard work , it takes a lot of time, investment, hard work, initiative to actually bring your token out in the market , we need to respect that.

Maximalists are can be described as a hypocrite that pretend to care about cryptocurrency but in fact they just care at what they invest. They say whatever they say and i dont think they are an expert of the tech at all. I never care to read their tweet as most of them are just rubbish to me.

very nice collection of lots of important tweets. I enjoyed them. can't find any toxicity in those.
If bitcoinMaxis weren't around, bitcoin would now be bitcoincash or bitcoin2x or whatever. the fact that the bitcoins you hold have value and were not compromised by clowns has to do with this as well.

Depends on what you mean by "good"? A lot of altcoins coins that brought profit at the time of entering the market and then fell to zero, and there were also coins that were shitcoins and after a while did to the moon. So everything is relative and there is nothing specifically good or bad.

I think most maximalists are either unknowledgable about the possibilities of other tokens or they are just called such because of an argument with an altcoin enthusiast. BTC is the leader of the gang, so it´s just natural that people focus on the main point of interest. Taht´s also shown in the recent developments of big institutional investors entering crypto space, they chose the supposedly most safest asset, whcih again is BTC. It might change in the future but at this point the whole crypto market is still in its infancy so focussing on the Crypto Blue Chips is just common behaviour

INX's suitability standards wants to make it to appear different to all other ICOs, however, it only strengthened the questionable part of the ICO. To offer the investment to a few chosen people to dump on everyone else later.

Also, if this is a registered security it might be okay to treat this like an IPO. However, be careful, there are also many worthless pump and dump stocks listed on stock exchanges registered with the SEC that are IPO scams.

"Topic: When Bitcoin Maximalists are Promoting/Shilling an Altcoin"


...

If the competition between bitcoin and "all altcoins put together" contributes to the expansion and promotion of a decentralized financial system, let's keep it up!

Someone from the Great said - "everything is harm and everything is good." What is said from the portioning of this or that. Of course, when the word "Bitcoin maximalist" is heard, associations with a certain radical point of view, which always interferes with a balanced understanding of the very phenomenon of Bitcoin. So of course, to a certain extent, the "Bitcoin Maximalist" does harm to the crypto community. But, on the other hand, I believe that the entire cryptocurrency community is based on the "Bitcoin maximalists". In general, if you want to achieve some kind of success, you have to be a maximalist, only the “wings” of a maximalist behind your back will help you to reach great heights.

For every bitcoin maximalist there was already a scam shitcoin or ICO. And more schemes will rise.
Blaming only the maximalists means ignoring half of the reality.
I don't say altcoins are bad, but how many are actually good?

I wouldn't call myself a bitcoin maximalist but I would say most of the newbies entering into crypto space should experience themselves why almost every altcoin is a no brainer shitcoin which is of no use other than trading or getting rich quick/losing everything over a nightmare? Today majority of the scams are taking place in Ethereum since it is always really easier to create a token out of thin air, create an ICO and run away with investor's money. This is what happened in 2017-2018 era and many of the newbies including myself have been scammed by thousands of dollars.

Like as you said, some of the altcoins which was created in 2017 had the potential and indeed had a real use case but they were not able to tolerate the major sell off and dumping of Ethereum in 2018. The same goes with DeFi now, do they really have any good usage and real world scenarios apart from pumping and dumping and thereby receiving profits or losses?

When a currency suffers 51% attack, the purpose of being decentralized and trustworthy is broken here and this happens with most of the altcoins prevailing out there in exchanges. I don't really want to point out the coin which I had invested back in 2018 but the coin collaborated with IBM and launched their coin through hyperledger fabric tech but sadly the developers sold out everything during the 2018 sell off and ran away with investor's money. Luckily saved a few hundred dollars from the scam and invested in a top 20 coin at $10 per coin back in 2018 and now they are trading at $0.2 (that's honestly a great return of investment).

The same goes with Ethereum and every other coin in crypto space except Bitcoin. Bitcoin is having a real use case and it is proving each and every year that it can break the previous records set by it.

Nonsense. Bitcoin is the only coin, and Satoshi they maker.

There is no such thing as "crypto space", there is Bitcoin, and there are altcoins. Bitcoin works, altcoins, no so much.

Maximalism? Sounds like someone just want to talk about altcoins, and there is a forum area for altcoins.

There is no problem to talk about Bitcoin which is the whole point of this place. You should be thankful you can discuss the altcoins in its respective area.

What harm are you even talking about? The altcoins have benefited from the open source nature of Bitcoin. Everyone is free to believe or not in them, but don't expect you can sneak them in the wrong area just because you like them.

And the people who do not believe in altcoins, should not be forced to listen about them either. That doesn't make them "Maximalists", there is just Bitcoin, and that is that.

you do realize that bitcoin was widely hailed as a pump and dump in 2011 and 2013, right? and that the 2017 bubble on the charts is more of the same? people still call it tulip mania.

years ago, before defi, before IEOs, before ICOs, bitcoin security investments (havelock, asicminers, etc) were all the rage. hell, before that so were bitcoin doublers and ridiculous things like that. and still here we are, with bitcoin getting mainstream recognition from hedge fund managers and publicly traded companies holding their cash reserves in BTC, trading above $10k...... i see no damage done!

like it or not, many bitcoin investors are straight up gamblers looking to get rich quick, and they are gonna keep pouring their coins into high risk investments. that includes both legitimate and illegitimate projects, and everything in between. *shrug*

i love bitcoin, but it certainly shouldn't have a monopoly on innovation in the crypto space. when an investor gets burned (in altcoins or penny stocks or anything else) they learn a lesson and are wiser for it. the smart ones will learn that bitcoin is a much safer investment, and life goes on.

Seems you haven't researched properly then. Altcoins are doing more harm to the ecosystem them bitcoin is. The rate at which worthless shitcoins are getting pumping thereby soiling the reputation of the industry when they get dumped on newcomers making it look like, this is just a pump and dump industry. The altcoin maximalists are to be blamed for what the industry is turning into, all the bitcoin maximalists are affect is preventing the new comers from falling victims.

I always wished my portfolio was filled with just bitcoin from day one, I would have prevented most losses I have recorded still date. Now I'm so attached to alts that I find it difficult not holding any even when I know they can't be relied on.

Not everyone that’s holding Bitcoin that is a maximalists. Like in the past few years I only invested in Bitcoin, but that doesn’t mean I was only interested in bitcoin,. I saw other cryptocurrencies (altcoins) and I was also interested in them, but I just didn’t want to rush things until I made my choice and as time goes on I also started investing in altcoins, like Ethereum.

So, let’s not be in a hurry to call people maximalists because they are holding Bitcoin, unless they made it clear that they are dying on it lol. Some people first need to understand a project before investing. There are so many altcoins in the market, and majority are a waste of time, so it’s good to choose carefully.