Topic: Say no to maximalism - page 2. (Read 2496 times)

It's not their fault, yeah, but when you are a maximalist, you can miss out other opportunities that could have earned you thousands or millionaire of dollars. There are lots of scams with the altcoin market but there are also some opportunities with a few tokens, but if you are not ready to risk it, better you only accumulate Bitcoin.

I don't blame anyone for chosen to be a bitcoin maximalist as it's a fault not theirs, for the coin has earned it and if there develops any other altcoins that could match up to that position as bitcoin has, then we won't be having this discussion. Investors are mostly interested to put their money on assets with considerable measure of security, less risk and not some potential pump and dump coin's. And most importantly, for the drama's many investors has experienced with many of these altcoins they had trust on but which later became a disappointment you then don't really expect to see a growing maximalists community forming around any altcoin.

And who are the scammers that you are referring to? Not all altcoins are scams, because the majority of those coins are major scams, but that does not mean that we can refer to them all as total scams.
 
We should still create room and study other rising projects and existing ones that provide reliable service.
 
It shouldn't just be all about bitcoin; bitcoin is superior, no doubt, but we should always check out others if everyone has been a maximalist on existing payment options that existed before Bitcon who could have discovered the features of bitcoin.

Very well said, I fully support your thoughts and whatever you said about maximalism and Bitcoin maximalists is true. Being part of Bitcoin community, I'm also someone who wholeheartedly support Bitcoin and anything related to it, but I wouldn't consider myself as Bitcoin maximalist because I'm also into other well-known crypto currencies and I do use those more often sometimes when Bitcoin fees get higher.

I've been part of Bitcoin community since 2016 and I'll always say that there's no other cryptocurrency like Bitcoin, but that's my pure love for Bitcoin as it helped me to become financially stable but it doesn't mean that other cryptocurrencies are less good as compare to Bitcoin. When it comes to privacy then there's no match for Monero, and when it comes to speed then LiteCoin does quite good in that department.

Love for one thing is a good but that doesn't means that one should consider it superior than others. I know Bitcoin is on top and it will always be on top but surely there are many cryptocurrencies other than Bitcoin that most of us use on daily, weekly or at least monthly basis and some of those really solve our issues. As a trader I often use USDT as that's a stable coin and that's much better to secure your profits then Bitcoin as it can get some dips.

Being a maximalist prevents someone from understanding good qualities of other things and that's why I believe one should try to avoid being a maximalist at any cost.

It's not every project that is a scam tho, some project are still legit and even if they will experience any challenge that can cause them to fail just like Luna did, before that will happen, you have already taken your profit. Although, you can stay a maximalist if you can not bear the risk that is attached to investing in other projects.

I grow up and learn that Bitcoin has always been the best, some of the people that project that idea most of them has left the forum and hasn't returned and during the course of those idea digestion, I do feel a bit out of their league but of course, don't want to be off person I do follow up their ideas but later I think there is no best in life, there's always be something that will replace the existing ones whether we accept it or not bit that doesn't mean the previous is not the good.

Bitcoin might not have a replacement now but development can come from anyone. The idea of decentralization isn't even that string again, just do the maths and check the wallet address that are holding millions of Bitcoin, they are centralized wallet and institutional investors, the retailers which are the people have one or less than one in their wallet address. We can't continue with 10 min transaction, who knows what the world will say tomorrow.

The crazy part is we can all choose with one suites us best, I know a woman who purchased two plots of land and guess what? After a few years of buying the land she found out that it belonged to the government, she didn't believe and build a home on the land, now the government have given them quick notice to evacuate.

Before you talk about legality, I am from a country where you can't win its government even if you are right, I have seen powerful men who got cheated and robbed of their lands even a giant pastor who knows the right way of securing lands, when the government says no you have no choice,I said all these to proof that some businesses and investment are better in other countries but not all countries, e.g mine.

I keep saying that I feel at home finding Bitcoin and crypto investment, stock is just a plus but my end game is that I want to be rich somehow without anyone knowing how much I am worth, they won't see any visible investments but money will keep coming, I love this more than anything, I feel more safer and protected as a crypto investor more than anything.

In terms of security/reliability, Litecoin is inferior to Bitcoin. But I get the point. You must take advantage of low fees for your own benefit. There are times when Bitcoin becomes heavily-congested, resulting in higher than average network fees (Ordinals craze, halving event, etc). That's where altcoins like Litecoin and Dogecoin come in. I'm surprised how undervalued LTC is, especially when it was touted as "Silver to Bitcoin's Gold" in the early days. It's often overlooked by mainstream traders and investors alike.

Despite the benefits of Litecoin, that won't stop some people from becoming a Bitcoin maximalist. You are free to choose your own cryptocurrency for day-to-day payments. Some people prefer to use only Bitcoin because of its unmatched security/reliability/decentralization, while others prefer BTC and a combination of alts out of convenience. Crypto land has gone far since BTC's inception, so I'd expect it to grow further in the future. This means altcoins will be relevant whenever you like it or not. Only time will tell us which ones will fail, and which ones will survive the tide.

If you’re taking away from Bitcoin something that gives it the most quality, how do you expect it to perform then?

That aside.
How many altcoins out there can you be confident about?
One of the core aspects that brings more value to Bitcoin is the complete absence of Satoshi Nakamoto in the picture, leaving everything to a consensus rule. You don’t find this a lot in altcoins.

Bitcoin is that coin that didn’t go through any coin offering to gain popularity and attract value to itself most of all these other coins did and have a switch button somewhere that could be restart. Vitalik already did once with ETH.

Have you ever wondered what cases price hike on blockchains…

It’s largely congestions but, these arises not just by the loads of transactions that are been done on it although, in a way that’s it but, you would understand that projects gets built on other blockchains and when it turns out that, the blockchain isn’t serving well enough, then its unto the next.
We’ve seen that with ETH, Solana and what’s trending at the time for memecoins is Tron.

We wouldn’t be switching for every slight change and that’s where Bitcoin wins.

There is no doubt for now that bitcoin can't still be replaced by those altcoins. Let's take the full decentralised nature of bitcoin aside. In what way do you think those alternative currencies won't be able to compete and replace Bitcoin usage? 
 
No discrimination; it's just a matter of time. If there is always a price hike on the transaction fee of Bitcoin, there will definitely be a competent competitor that will take away that throne from Bitcoin. The world is revolving, and we are all open to embracing new technologies as long as they will serve the purpose we need them for.

Embrace being a maximalist and keep the scammers at bay.

And this is absolutely the right decision. I believe that extremes in views are always bad, you need to have flexible thinking and the ability to reconsider your established views.

In the vector of discussing Bitcoin, I want to say that I agree with this judgment of yours. Bitcoin is good because it was not hacked, but Ordinals made it impractical, and we all saved ourselves through other cryptocurrencies - altcoins. Therefore, you can't have one opinion and think that only it is correct. You need to be able to understand other people, this is important.

That’s some theory, Charles Darwin wouldn’t like the sound of that very much although, it could be imagined differently. Where the fittest at this point doesn’t necessarily means strength but, the ability to adjust and fit in with the humans that now shares habitats with these animals. Man has been the invader and you really get to wonder where does man really fits in nature.
Well, we are talking about Bitcoin here and as such, let’s go back to it.

Fees has been the basic reason behind every alternative option to Bitcoin. Make no mistake, these alternatives can’t and wouldn’t replace Bitcoin. They just serve there purpose for a time and then, Bitcoin continues its dominance.

Absolutely correct. Nowadays, it's easier to see someone who will propose to pay you for service with LTC compared to BTC. The LTC usage case is just increasing on a daily basis, and I think most people started moving over and getting familiar with the currency (LTC) during the last ATH on Bitcoin transaction fee. 
 
Why the price of LTC still falls against Bitcoin could also be as a result of Bitcoin occupying the highest trading volume in the market; there is still a higher belief in the market, which is like "an injury to Bitcoin is an injury to all." 

I was watching a video where Nel deGrasse Tyson was talking about the evolution and it was quite interesting. He said that it's not the strongest that survives, it's the ones that adapt. His example were dogs. Dogs, that used to be strong and aggressive, didn't survive because humans would kill them at each bite, so, over time, weaker and softer dogs survived and we finally domesticated them, this is really interesting.

Yes, they'll trade, earn money and I'll work to make bread for them, to deliver their parcels, to bring them coffee, of course. The fact that many people think like that only means that they have no idea how world works and really think that if they have money, then everything come out of nowhere without any work.
Basically, AFAIK, some people still think that it's governments' duty to give them a huge amount of money every day while they'll sit at home and do nothing.

wrong on all three cases
bitcoin maximalists are not the ones that are not open to innovation. as long as the innovation improves bitcoin for bitcoiners and not some silly new feature that involves offramping people off the network
bitcoin maximalists actually do want bitcoin scaling and proposals that make bitcoin better and the most preferred coin.. however they also do not want a "only currency in the world", they just dont want the centralists to invade bitcoin code control, and then only do alterations that cause people to have headaches when using bitcoin and end up having to(by force) be offramped to other networks which the centralists profit from by duping people into moving to

people are free to choose their preferred currency but those that choose bitcoin should then not be forced to leave bitcoin for another network,

if i like a lamborghini and can afford a lamborghini, i should be allowed to have a lamborghini.. i should not be told that the climate activists have got jobs at the lambo factory and restricted the engine to only perform at speeds of a bicycle whilst adding weight so that the toll bridge charges are high, because they prefer lambo drivers to get out their car and buy a electric scooter or ride a bicycle. if you want to ride a bicycle and electric scooter, go do so, just dont ruin life for others that actually like a good drive

Because you have to sell your BTCs, to get them. And if you mine ALTs, then you are probably going to sell them to other users, and get some BTCs instead. And because a lot of altcoins are started from scratch, then, at the beginning, their supply is quite low, so the first miners have a huge incentive to sell everything they mine, because it is very likely, that the price of their ALTs will be lower in the future, as more coins will be mined.

If that would be the end goal, then altcoins wouldn't create any new coins from scratch. Instead, they would accept coins from existing chains, and by validating a signature, will grant each user exactly the same amount, to experiment with.

Also, altcoins struggle with "rolling out into the main Bitcoin blockchain", so their features stay on ALT-only, and are often not ported into BTC.

If some altcoin is centralized, then you can have 1:1 peg with that, just by creating 1-of-2 multisig, where one key belongs to some centralized entity, and another key is owned by the user. And then, the creator can use its own key, to execute any kind of contract, on top of existing BTC network. Also, in that case, it would be auditable, because you would know, how many coins were moved by users, and how many of them were sweeped by the altcoin creator.

This is not always the case. I don't think that BTC will rule the world forever. But I think, that we have too many coins, and too many separate monetary bases. And that causes a lot of problems, because you are forced to trade between those coins, to use them in any meaningful way.

I have nothing against separate chains. You can always create a new chain, with a new history, and call it an altcoin. But why that history should use completely new coins, instead of wrapping existing ones? If you sign existing coins instead, then at least you can move your transactions to the original chain, in the future. Or batch them, and move a batched version.

No, because:
1. If you have the same coins, but separate chains, then your usage of a coin on an alternative chain, is not affecting the main chain.
2. By having an alternative history, you can batch it, and push a batched version into the main chain. Which also allows removing unnecessary data, and that kind of feature is not possible, if there is no "upper layer".
3. You don't have to push all your data to the main chain. In case of "cloud storage use cases", all you need, is just saying: "here is my signature, you can download my data from this alternative chain, and watch my coin movements on the main chain". Then, adding any data to the coin, costs you zero additional mainchain bytes, and it is all about tweaking your signature, to commit to that data.
4. If everyone agrees, then there is no need to execute any complex contract on-chain, and you can stick with just public keys and signatures. Scripts should be used only, where there is some kind of disagreement, some party goes offline, and so on.

Only as long, as coins are converted back into BTCs. But if more and more coins will stay in other networks, then BTC will get weaker, because of that.

In my opinion, you don't need to prove anything to anyone, we need to define what our purpose is and just focus on that. Because I think the results will speak for themselves instead of spending a lot of time arguing without being able to come to a final conclusion.

I just know that I entered this market to make money, to help my family improve their lives, not to argue and prove that I am right. If we argue and win but don't make as much profit as the other person, did we really win? In business and investing, the one who makes the most profit wins.
You are right, bitcoin is the best but it is not the only investment in this market. Many altcoins have great potential so it would be a waste if we ignore them just because of our stubbornness and conservatism.

Exactly. Why not take advantage of other coins to make money? You can try experimental features on new coins before they're rolled out into the main Bitcoin blockchain. I get that 99% of altcoins are centralized. But that doesn't mean you should avoid them. Bitcoin maximalists aren't open to healthy competition or true innovation within the crypto/Blockchain industry (no offense). They think BTC will solve all of the world's problems. But that's not truly the case.

If BTC was the only cryptocurrency in the world, it would've been "overloaded" already. That's where altcoins come in. They help lower the burden on the main Bitcoin blockchain. The more there are, the greater the network effect will be. Set yourself forward 10 years, and everything will be the same as it is right now. Except that Bitcoin will be bigger and stronger than ever. Just buy, "hodl", and forget about the rest.

My question is why now? This is a point that I have been trying to proof for ages, but I wonder why this topic is getting attention right now.

Anyways, right from day 1 I am never a fan of Bitcoin maxis because everything else seem wrong in their eyes, I remember in 2020 how many Bitcoin maxis are talking shit about Shiba inu and Axie infinite, but in 2021 these projects created new millionaires, I bet they hated that this happened, I am water I don't have enemies in this space, I am open to every possibility.

I like Bitcoin as much as I like other coins, hate like you want but I am still going to look elsewhere, because I am an opportunist, I have make more gains from alternative coins than Bitcoin because it is harder to buy and make higher ROI from Bitcoin but way easier to make 20x from other alternative coins, why should I hate?

Bitcoin is the best, I accept the fact, but it is not the last opportunity to make gains in this space, I will cut ties with anyone if they show signs of Bitcoin maxis they are toxic for my health.