What is Bitcoin Maximalism?

This video breaks down what is meant by the term BitCoin maximalism and why crypto's biggest advocates are likely way over exposed. The theory of BitCoin as an inflation hedge, or otherwise inflation proof asset have yet to play out in practice and so far the price has gyrated wildly in accordance with the general sentient of the crypto and equity markets.

Outline
Libertarianism 0:00 - 0:30
Governments 0:30 - 0:52
Value of Bitcoin 0:52 - 1:02
Scarcity 1:02 - 1:26
Inflation Proof 1:26 - 2:39
Problem of Thrift 2:39 - 3:50
Digital Gold 3:50 - 4:25
Volatility 4:25 - 5:10
Flight to Quality 5:10 - 5:35


What Is a Bitcoin Maximalism?
Bitcoin maximalists believe that Bitcoin, which is the world's most popular cryptocurrency, is the only digital asset that will be needed in the future. Maximalists believe that all other digital currencies are inferior to Bitcoin. The maximalist ideology holds the view that other cryptocurrencies are not in line with the ideals that were established by the pseudonymous Satoshi Nakamoto, who created Bitcoin in 2009.

Bitcoin is unlike government-issued currencies, called fiat currencies, which are managed by a centralized authority. Instead, Bitcoin is decentralized and its blockchain is a publicly distributed ledger, meaning the transactions are shared with participants and transparent.

However, despite Bitcoin's popularity as a heavily traded digital asset, it has also led to the creation of many other cryptocurrencies. Bitcoin maximalists believe that these other cryptocurrencies—called altcoins—are unnecessary and inferior.

#bitcoin #crypto #cryptocurrency

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