This is an editorial opinion piece by Niko Jilch, a financial journalist based in Vienna, Austria who runs the Fixthemoney Substack and a German podcast called “Was Bitcoin bringt.”
OK. Looks like we’ve decided to spend some “decoding” time debating who is the coolest kid on the block: Bitcoin Maximalists or altcoiners.
This isn’t a new debate but the recent defection of “rising star” Nic Carter and several others from the “malicious maxis” camp has restarted it. Then there’s this thread by Bitcoin core developer Matt Corallo.
Now I’m happy to start here. It’s clear that Matt knows what he’s talking about Bitcoin. He knows how, how, way more than I do when it comes to the technical side of things. Compared to him I am nobody.
But I still call myself a Bitcoin Maximalist.
And I disagree that they are a “dead breed.” In fact, if at all, our camp is growing.
Everyone forgot about Moonlight ready? A whole new class of maxis was born the day it collapsed.
We all have reasons to focus on Bitcoin. Mine is deeply personal: I want to fix the money. Maybe it’s cheesy or arrogant. But ever since I realized that our monetary system is broken, this has been my obsession.
I haven’t received Bitcoin in years! First I was a yellow bug, a petty thief, a petty thief.
It took me about seven years to become a Bitcoin Maximalist and the pivotal moment was when I decided for myself that now it might be too late to “get rich” with Bitcoin.
That small thought opened up a whole new world for me.
So where did all the Maxis come from?
Since then I have met all kinds of people. And one thing is for sure. Bitcoin maximalists are actually a completely different group from the rest of the cryptosphere. They think and act differently. They are building a social network on top of a currency network.
So what about what not maxis?
My experience is that many people who come to Bitcoin with a purely technical perspective prefer to look at newer projects (altcoins) and what the goals of these projects are. After all, wasn’t the curious intellect that led them to Bitcoin in the first place?
Many of these “nerds” (I mean this in the best possible way, I love you all!) also got into Bitcoin early on and are now rich beyond imagination their – they might even be a little bored with Bitcoin at the moment.
To them, being “only Bitcoin” doesn’t make much sense. Matt has contributed more to Bitcoin than I ever have. Why shouldn’t he be curious about other things? Good for him!
The Numbers Go Up – That’s How Bitcoin Attracts You
Nic Carter comes from the investing side of things. This is where many altcoins come from small and large instruments.
That’s another group.
Some were early and got rich with Bitcoin. Now they are looking for their next big payday. Others feel they have “missed” Bitcoin and look for opportunities to grow. I can understand them better because I am one of them. In fact, I imagine that almost all newcomers fall into this category.
That’s how Bitcoin (and cryptocurrency) attracts you. And that’s okay. It looks like a Trojan horse. Someone once said: “Bitcoin is a revolution that protects itself by making revolutionaries rich and incorruptible.”
Well, it turns out that the desire for wealth and status more than ever is part of human nature these days and even wealthy Bitcoiners can be enticed by even more money. This should come as no surprise after decades of inflation, fiat money, consumerism, and high time preference.
That is also the crux of my argument here.
We need to separate money and state
Carl von Clausewitz speak that, “War is the continuation of politics by other means.”
Altcoins, DeFi, NFT, and proof of stake are the continuation of fiat money by other means.
I have more ways to fight for money than chasing the next high fiat.
I want to play my part in ensuring that the Bitcoin network survives and thrives. I don’t know much about computers or trading but I do know how to write, speak, create podcasts and videos – so that’s what I’m doing.
I want to see fiat test end. I wanted to know what that would do for our precious investment theories. And honestly, I don’t see this as limiting either. Scarcity is so important to us as humans, it’s literally what gets us started in our lives. Ask any baby trust. I think money is as good a thing as anything else. I think the money market has been distorted by the state for so long, it barely existed before Bitcoin came along.
We need to separate money and state. I think Bitcoin is our best (and possibly only) attempt to do this.
That’s why I’m just Bitcoin. That’s why I’m a maximalist. We need to fix the money first.
Then we can talk about the value of an ape’s JPG.
This is a post by Nikolaus Jilch. The opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC, Inc. or Bitcoin Magazine.