Bitcoin Maximalist

A Bitcoin maximalist is one whose only cryptocurrency holding is Bitcoin. Nothing else, no alternative coins (Altcoins) like Ethereum, Cardano, Ripple or any other of the thousands of cryptocurrencies that have been created in the last decade. A key dislike of altcoins by the btc maxi’s is the fundamental creation of the coins or the blockchain that they exist on. Many of the altcoin blockchains have simply been copied and tweaked slightly with them being spun off as some incredible new tech that can be akin to vapourware and therefore worthless with no value. The fact that the altcoins have either been forked off bitcoin core or created in an attempt to compete against bitcoin means that they generally have a centralised framework with minimal value. Bitcoin has no central point of failure and can never be confiscated or hacked as is the nature of the global distributed network. Bitcoin maxi ideologies are such that features of altcoins are not comparable to bitcoin and that all alts are substandard to the dominant bitcoin protocol. With the bitcoin hard cap of 21 million coins, once completely mined there can be no more produced when compared to fiat currencies that have no hard cap on the amount of paper money that can be produced by governments around the world. Btc maximalists compare altcoins to fiat currencies in that many of them have centralised figures that can potentially produce more of a specific coin, copy code or fork existing blockchains. The digital scarcity of bitcoin can never be reproduced. A lot of the altcoins pop up to try to solve perceived deficiencies with Bitcoin, and while they might solve one element of the bitcoin scalability puzzle, they lack many of the fundamental elements of the original protocol. Also given that Bitcoin is only just over a decade into its existence, it’s a slow-moving juggernaut that has hundreds of bitcoin core developers tinkering and improving the code to ensure it remains dominant long into the future with security and transaction speed enhancements built into the core protocol.   
Like the dotcom boom and bust, out of the rubble came tech giants like Google, Amazon, Apple, Facebook and Netflix to name a few. As the dotcom era gave rise to a number of winners, so will the digital currency space in years to come. In the end, it comes down to utility. What is the use case and real world applications of the blockchain. Crypto is cyclical and has seen several boom and bust moments. The bust moments give rise to brutal bear markets where the utility of an altcoin is exposed. The bear markets weed out lack of utility coins and the ones with strong fundamentals survive and thrive in the next ensuing cycle. Bitcoin has always held the number 1 spot by total market capitalisation and will continue to do so for the foreseeable future as it solidifies its position as the dominant store of value as digital gold. Bitcoin superannuation can be diversified amongst btc and altcoins, though most investors will have a majority portfolio of bitcoin super and then a selection of a few major altcoins that can give superior returns if timing of the entry and exit of positions is executed well. Though the fallback to a safer strategy is to dollar cost average into a bitcoin superannuation position in a self-managed super fund where risk is reduced due to the price volatility.
Michael Saylor has established himself as one of the greatest Bitcoin Maximalist to have ever graced Crypto Twitter (CT). This is not financial advice but worth a listen as he explains there is no second best digital asset. His conviction in Bitcoin comes from putting his money where his mouth is and has enormous “skin in the game” with his company MicroStrategy holding 105,085 bitcoins as at June 21st 2021 after transferring balance sheet cash reserves and additional capital raising to buy bitcoin.
Here is a short list to get you started of CT Bitcoin Maximalist:
Peter McCormack
Stephan Livera
Robert Breedlove
Max Keiser
Jimmy Song
and the list goes on… Crypto Twitter is the greatest source of knowledge for anyone new entering the space. There can be a lot of noise, so be sure to follow the key leaders in the space to ensure the best source of information is correct and unbiased.

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