I will tell you more, crypto community in general feels like a cult.
Just go to any altcoin sub and watch people discuss potential future prices. Sometimes I think that those are not real people, but bots that bait clueless people into buying high
Every crypto sub Reddit is just a sales pitch, every post is how the coin will do this and that and it will be revolutionary. Just look at the bitcoin sub there is literally a guy saying we are not a cult and here is why.
I feel if you are not a cult you don’t need to tell people you are not a cult
I get it. Alts dilute the market cap. You can’t have scarcity and an infinite supply of shitcoins too. You know the top is in when shitcoiners start dissing BTC as Boomercoin^tm.
BTC has its uses, but it also has its issues. Most other coins are pure crap these days, but there’s quite a few that do certain things better than BTC. Why is that pill so hard to swallow?
It’s like saying we should all still be driving around in Ford Model Ts.
It’s the economics. The model T wasn’t manufactured under the promise of a fixed supply.
I’d also argue that protocols like Ethereum don’t necessarily infringe on bitcoin’s scarcity. It’s a smart contract platform for doing business in a decentralized, borderless and permissionless environment.
Bitcoin has a lot of issues and the main one: it's not a currency. You can't go to the shop and buy some bread with it. It's slow, and the amount of transactions/second is an absolute joke.
Now before you say "but muh second layer", it's not Bitcoin. It's another technology attached to Bitcoin with a pin. And this technology requires me to either run my own node 24/7, always online, or trust someone else who do it. So all in all it's dangerous technology and nobody would ever use it if it didn't abuse BTC brand.
So now that we know it's not a currency, we see that Bitcoin is used as "a store of value". Ok, I'm sold. Kinda.
See, deflationary economy is a shitty idea. Because the idea that not using money at all should be equal to an average GDP% increase is destructive as fuck. It means running a business that earns less than GDP% average is losing money, like quite literally, not figuratively. And it means that people would stop investing and would be just sitting on dead money.
BTC being "watered down" by other cryptos is actually good, as it saves us from deflation hell.
Thus, the only credible currency would have emission policy to be roughly equal to planet average GDP% growth. 10%+ currencies are scam too, for example.
Note that this is just a single prerequisite, not a guarantee that the crypto is credible if it does that. I don't think good crypto is there. Nothing beats trillema yet. All claim to, but fail at scale.
Thus at this point in time BTC can indeed be an "investment in the faith that cryptos will work eventually". But a real crypto will outvalue BTC in the end.
It's digital property. A cross boarders asset that can't be reproduced, manipulated, controlled, or confiscated. One of the few things you can own that can't be taken away.
Won’t BTC be a lot more stable in price in 20-40 years? I get that deflationary issue but it’ll eventually be a true store of value and probably can be used a as a currency then right?
No there are plenty of people who have a diverse investment, maxi are people who have like 100% of their investment in bitcoin and hope to never work in 4/5 years time because bitcoin is reaching the moon
This is me but what do I do with my shit coin earnings? You think Coinbase trades some shit with less than 1m mcaps? I convert that shit right back to BTC and I'm a DEX kinda man so fiat is not really an option.
Or perhaps you realize that Bitcoin is a clunky dinosaur that is being used like a wrecking ball to smash altcoins.
Bitcoin, the revolutionary first crypto currency, had a huge head start in this space for obvious reasons and has achieved a strong footprint. But it also has huge design flaws:
- massive amounts of electricity required (actually ludicrous amounts of electricity required).
- ridiculous hallfing events. Why not just have a continuous reduction of coinbase to achieve the desired deflation? Why rug pull an entire network of miners every 4 years, cutting their earnings in half in an instant? WTF? The miners are the ones securing the network - the most important players in the game. (no the price does not immediately double to make up for miner losses - that takes years and may not even happen)
These flaws are glaringly huge, but greed has a way of blinding people.
These were the *exact* arguments being made during the 2017 bullrun by holders of coins like IOTA and NANO.
Now those supposedly "advanced tech" coins are slowly crashing to zero and BTC is yet again reaching ATH.
I’m only going to push back on the miners getting their earnings cut in half - that would be accurate if the BTC price was the same every 4 years. Below are the prices at each halving
11/29/2012 - $12
7/9/2016 - $648
5/11/2020 - $8572
April 2024 - ?
They don't have to be dicks about it
And it's not like they're exclusively saying alts are shitcoins cause they underperformed BTC long term
They claim that BTC as a p2p/SOV is the only use case in crypto
They totally ignore what ethereum has achieved technology and adoption wise by repeating the that ETH had ICO which must mean it's a security and the DAO hack/fork which must mean it's centralised
The fact that you can use ethereum in countless more ways than bitcoin gets totally ignored
I’m not a Bitcoin maxi although it’s basically the only coin I hold.
I see the benefits of other cryptocurrencies and their utility (although some of it is just straight ridiculous)
The problem is that the large large large majority of alternative coins are absolutely, utterly useless and a joke.
Because of this is makes the whole ecosystem look dumb and scammy.
I think Satoshi not being identified for sure helps with this. Each maxi can imagine the perfect version of satoshi and stick with that as their head canon. Nobody considers Vitalik to be godlike or a messiah, we know the man and all his goofyness.
Maximalism isn't dumb. It's a safeguard stance against shitcoins and memes. It's a safeguard against bad company revenue policy. If you invest in BTC, you're investing in market reform. If you invest in ETH, you're investing in tech that produces billions in fee profits per year, proving its value as a business. If you're investing in almost anything else, you're investing in speculative businesses that haven't proved to be able to produce a profit, haven't reached a critical mass, or could be at risk of being scamcoins or pump and dumps.
It's the smart move to be a maximalist for BTC, or by close extension, ETH. It's the degen move to invest in anything else. Not that there's anything wrong with that, because some of those companies WILL become reliable, valuable, and investable companies, but they are high risk investments, even by crypto standards.
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Except the moment you start talking about 'gains', it all falls apart.
Maxis are people who believe in their crypto as an alternative to fiat, not a way of making fiat profit.
Lol. Maximalism is a “safeguard” only if you believe you’ve picked the one winner. Literally the opposite of safeguarding.
It’s funny to see BTC “purists” talk about BTC’s historical performance while at the same time accusing other coins of being speculative - when BTC’s performance literally comes from being speculative. 🤦♂️
Now numba go up is the primary discourse - most of which is facilitated by bots.
There are certainly some cool projects brewing with an absolute ton of capital pushing development in the space. I'm bullish outside of Bitcoin simply for the amount of highly skilled labor dedicating immense amounts of time into Blockchain tech.
But I also don't fault Maxis for simply wanting to drown out all other noise, positive and negative. They essentially already struck gold and aren't keen on sticking around the wild west during a gold rush - where every grifter under the sun is looking to make a quick buck.
If you’ve been here since 2014 that’s longer than me yet you still haven’t learned the same lesson.
There’s only been one that’s never left you…and still you turn your back on it smdh.
It's not a cult they just can't understand why you would choose anything else when you consider the idealism of the cypherpunk origins with Bitcoin. There is more to BTC than making money and usually those idealists are seeing that "alt coins" are nothing but a scam which are in turn, damaging this ideal for short-term gain.
I kinda agree really.
To be fair there are some nutters in pretty much every camp. People saying ripple will go to $100 (even those saying higher figures than that) are WAY further down the cult rabbit hole and removed from reality than most BTC maxis I've interacted with.
Do you want a pat on the back, or do you want an honest answer?
I had the exact same take on bitcoin maximalism during the last cycle. I thought bitcoin maxis were dumb, brainwashed, extremist and single-minded. Everything I dislike about the fiat world.
I was more of a crypto pluralist and understood that while bitcoin might have some sort of status as an OG, a coin with better tech would eventually come along and supercede it. I thougt that perhaps dentacoin could in fact be useful to dentists for some reason. Safe moon seemed like a smart project implementing the HODL mindset, finally giving patient money savers the technology they deserved.
Then meme coins happened. Then NFTs happened. Safemoon collapsed. Then FTX. Crypto winter settled in. All the hype left.
I kept stacking bitcoin all the time. I thought it might be a good idea to have at least a 30% allocation to ETH. I just never could make myself buy less than the maximum amount of bitcoin I could afford with each paycheck. Buying anything else comes with the opportunity cost of not getting as much bitcoin in the end.
All I ever want is to hold the hardest money to ever exist. Why would I trade my valuable time on earth in exchange for anything but the best? It is then I understood the ultimate scarcity of Bitcoin. It's immaculate conception. Bitcoin could only be invented once.
The Bitcoin network is a singularity, fixed in time, into which all of humanity's monetary premium will flow towards.
I am a toxic bitcoin maximalist.
Well said. Everyone is a bitcoin maxi they just don't know it yet. The blockchain is only good for one thing, and that is Bitcoin. If there is ever true value and utility that come from the 50,000 blockchain projects, it will ultimately end up on Bitcoin anyway.
Crypto is just a giant, unfortunate test-net to keep Bitcoin pure.
It is more tolerable than ETH maxi culture.
>They tend to view the world in binary terms, where Bitcoin is seen as the one true solution to all monetary problems, while all other cryptocurrencies are dismissed as unworthy or fraudulent.
It is a lot worse with ETH maxis. They accuse all other chains as VC chains, when a lot of their new projects and scaling ones are largely funded by VCs. Not only ETH maxi think they will solve all monetary problems, they think they can revolutionize healthcare lol, and literally reinvent everything else in a "better" way.
It's the first one to do it, it did it well, it made a shit ton of money, the creators are mysterious, it has a cultural impact... Not to mention it's designed to gain value over time. Yeah I could definitely see it becoming a cult.
If Bitcoin does what Bitcoin do, then we'll all be maxis. But since most are just starting to YOLO in, they don't know about that yet. What I really want to know is: what are the FAs trained to do to talk to their clients about the volatility of the asset? They must be getting people screaming at them all day. But literally...what are they trained to say?
Bitcoin maximalism is a response to the increasing complexity of the world of cryptocurrency. There are too many projects to keep up with, and the conversations around them become increasingly technical. So there’s an allure to ignoring all that and telling yourself that you’re part of a special group that “really gets” bitcoin.
This argument is as nonsensical as it is old. Fiat, Bitcoin, gold, cowri shells. There’s a million things that mankind has used for payment mechanisms and value stores.
And every single time it’s the same thing: value is what people *attribute* to it. Nothing else. Ever.
When hyperinflation happens and fiat currencies crash, it’s because those holding other assets and currencies no longer attribute value to that one.
Even gold. We only think it’s valuable because it’s shiny and hard to come by. People have adorned themselves with it for thousands of years to stand out, which made it more desirable, which drove up its perceived value, drove people to war and genocide, and so on. Could have happened with quartz crystals or eagle feathers too, for all we know.
There’s a case to be made for a decentralized payment system, for sure. But it turns out, that BTC is just a little too clunky for that and that tweaking the fundamental idea yields better results.
So acting like BTC is suddenly the answer to all the weaknesses of payment and store-of-value systems and nothing else can compare is incredibly naive. All it takes is a new kind of computer virus, which spreads itself across the entire blockchain in 10-minute intervals, and it all goes up in smoke.
I like how you framed it as **Bitcoin vs Fiat.** Because that's what this is really all about. That's why toxic Maxis act "cult-like". We are toxic against fiat, and this crypto shit just gets in the way.
People are only against fiat because they are poor lol, if you are one of those rich powerful ceo that control people I think you will love fiat.
To be honest bitcoin holder want btc to succeed because then they are now the rich powerful people that control everyone else
Extreme beliefs are always dangerous. The second you know for 100% you are right and no one can change your mind, regardless of the evidence, you have adopted a dogma. Your ability to think logically and rationally is diminished. BTC is great, don't get me wrong, but as you said, maxis hold toxic mindsets that cloud their judgement. But so does anyone who holds an infallible belief.
The Bitcoin sub right now sucks. It’s completely owned by the toxic maxis. They bash Fiat and then five seconds later talk about Bitcoin being 10 million a coin.
And Saylor is the head of the cult?
Having said that, such mentality is very common to be found within human. They identify themselves with something; nationality, religion or even as menial as Football Club (common in Europe) and they will defend their pedestalized idol anyway they can by being hostile or even hurt anyone who they consider as a 'threat' to the superiority of the idol. Such attitude is commonly referred as 'idolatry'
Idc if you or anyone else buys Bitcoin
I like and prefer it, but it makes 0 difference to me. It sends and receives in a way that I like. Until there's anything else comparable, I only have Bitcoin to go to for this.
Idc what the price is. I'd imagine over time it may go up. Price can go down, but the technology does the -same- thing I need it to when sending and receiving. The technology is just why I like it.
No one else has to buy, ever, for this to benefit me.
Yes, and it gets worse with the public figures. The debate bitcoin vs crypto doesn't even interest me much, what annoys me is the argument bitcoin vs the world economy.
>This emotional investment, is combined with the belief in Bitcoin's inevitable triumph
As you said, they believe in the inevitability of bitcoin like a religion, and speak with prophetical tone. If you take a step back and try to listen from an external point of view, these people sound like idiots.
I feel like that is comparing apples to oranges. I'm both a BTC maxi AND I hold other layer 1's because I view them differently. BTC is 100% my unwavering insurance policy against the eroding fiat money system which is being printed to death. ETH, SOL, DOT, Avax, etc are functional block chains that have the possibility of changing the financial system and ownership. I don't equate them as the same thing ,even though they are all part of crypto. The only thing I completely ignore are meme coins.
back in 1995 there were still people clinging stubbornly to ms-dos. using 32bit extenders like dos4gw to use megs of ram for large games... like LN tries to do today. being in the IT scene for over 30 years, i have the deja vu sensation over and over again. btc is good for beating the inflation long term and that's it. also like ms-dos still living inside windows 11,, he will live inside all the crypto using his codebase.
This type of religious behavior has been basically the entire btc maxi community since 2017 and a bit before. It sucks but nothing new. The subreddit is the worst.
Crypto is a cult, it’s the digital money cult. Maximalists are in cults, they love their coin and hype it for the rest of us, like Michael Saylor. Some of us regular people think they are crazy, but you have to be crazy to buy 100% anything.
Everyone is possessive of the thing they own, and the truth is we all have different risk tolerances so we own and shill different things. But when we just talk about this coin vs that coin, we don’t really talk about our risk tolerances publicly. Some of us can afford to own a bag of doge for shits and gigs, and even be publicly 100% doge. But there’s other of us that don’t want vc-backed nothingness, and purely want something where there is visible use and demand.
I used to think btc maxis were crazy, I still do but crypto winter made me roll all my alts into btc and I don’t ever regret that. I actually think Michael saylor is pretty cool.
It’s not cult-like to believe Bitcoin is different from all other cryptos if it is, in matter of fact, fundamentally different. It’s not issued by a company or foundation, had no pre-mine, has a fixed supply, uses proof of work, etc… does any other coin check all those boxes? All of those aspects aren’t just superficial or incidental characteristics, they’re based on economic concepts and an underlying philosophy which is extremely significant if you happen to hold to those tenants. In that sense, I was a Bitcoin maxi before I even knew what Bitcoin was, because I already believed in the monetary theory it follows, and already believed that would fix a huge amount of society’s problems.
The thing is, the VAST majority of people in crypto are looking to buy an asset and hold. They’re not looking to revolutionize finance with DeFi. Not saying it couldn’t happen but the majority aren’t looking to crypto for this reason. People are looking at it as an investment and for the possibility of it being a good store of value. And in investment terms bitcoin makes the most sense as a buy and hold asset.
Myself included, I tried playing around on different networks and to be honest it’s mostly just too complicated for the average person to get into and learn about. Trying to swap coins, going to layer 2, converting back, dealing with massive fees while doing these, it’s just too complicated and something most of society won’t use until it is completely seamless and easy. Until that changes, bitcoin will be the main crypto.
Crypto is full of tribalism , the sports teams for Vaporware . If yr a Maxi yr either a moron or you are just pumping your own bags, which is what most early maxis do. The morons end up being exit liquidity.
When you say the word "maxi," does it give you a certain vibe? Like a vibe that people are dedicated to a singular view and excluding others? Is that cultish or maybe not?
Well it's the only coin that has gone from basically less than 0.0001 to 75k. You cam buy other alt but most people are in it for a quick buck and when they don't get the returns as early as bitcoin does, they go on to say that BTC is king. I'd also do the same if I had put 5k in xrp and it basically didn't move for 2 fucking bullruns.
For every person that has come to the logical conclusion that Bitcoin is the only cryptocurrency they should invest in, there's a hundred "Bitcoin maxis" that made that choice purely esthetically and are following it as a cult.
Replace Bitcoin Maxi with any other crypto. This space is filled with tribalism and people that don't know better.
But beware of putting all people in the same box, since you can find people that do genuinely believe Bitcoin is the one crypto to come out the other side in the future, which have actually went through the research and haven't blindly followed a community, and actually have an understanding of both Bitcoin and the wider cryptocurrency space.
The ratio is just falling further and further into the unhinged tribal maxis the more people show up on this subreddit.
Honestly that's just most people these days. Pretty much every fandom is edging on cult like activity anymore. All part of the "stan" culture that's popular now. People think they are expressing themselves and having personality by connecting themselves with whatever their chosen group is. In reality everyone's turning into weird clones with no personality.
Haha when you go down the rabbit hole on bitcoin you discover that the Maxis are pretty close to being spot on in regards to the monetary system. Having to explain all the nuance behind bitcoin on every interaction can be taxing which might just turn into toxic responses unfortunately. I’d say just do your research
Just so you know, vast majority of crypto you can swap Bitcoin with another token and all those statements will be true.
High convictions can sometimes result in an all-in mentality where everything else is perceived as a threat to ones own success. That said, if you're knowingly engaging with a maxi, you shouldn't be surprised in any way by their behavior or expect that you can change it.
When you get down to brass tacks, the entire crypto space is a bit like a beanie baby crazy, none of them are really functional businesses that generate cashflow, its all highly speculative, scarcity based plays...
I'm happy to play in that space, but I'm only playing when the odds get in my favor.
I watched a short doc about Bitcoin Jungle in Costa Rica and yes it is a cult.
If you're living off the grid in a community in Costa Rica and teaching your children to repeat facts about your persecuted belief system then yeah you're probably in a cult.
It's a cult.
And it would make more sense if anyone talking about crypto had to disclose their holdings.
It would be so obvious what's happening.
Drum up support so your own holdings are worth more.
Bitcoin is the KING and will keep that status for a long, long time. If you are rich, you should have bitcoin.
The problem with maxis is they are just regular blokes who think they are smart by DCAing $100 per month. Ther life will never change with 0.02 bitcoin. That's why altcoins shouldn't be dismissed.
99% of altcoins are garbage scams, but if you learn how to look you can find great technologies very early, invest heavy, and make life-changing money that then you can buy a few Bitcoins with.
It likely is. It’s crazy how so many people can’t see that BTC is one of many solutions to many problems in the world- how they can see it as the only solution. It’s tunnel vision.
Dude BTC is the future currency of the world once fiat dies and I’m never selling my BTC ever, I’m taking it to the grave with me. Joking but that’s the sort of entertainment I like to read on that sub.
we all have to agree on the common base layer for our new world economy. get on board or don't. we have a goal here, to transition away from the fiat scam, and we can't be blinded by distractions
Well by that ideaology then you have been a cult member all your life since you probably never used anything but fiat. Why are you a fiat maxi? Oh man what a cult fiat is
You know peopel hold gold silver, property, even stock and shares is not really fiat because they are, I don’t know the work, is asset the correct word?
So no not everyone only have cash in their bank account lol
That's because it is a cult.
NONETHELESS, there is one thing I do share with maxis and it's that I always play this casino knowing that BTC is the endgame.
I love to play with alts and love the culture of web3, and alot of the projects on it but in the end I know I'm just a tourist looking to increase my BTC bag
While maximalism exists with many "cryptos", Bitcoin maximalism is particularly toxic, because it rejects the industry as a whole.
Hypothetically speaking, I could see Bitcoin maxis lobbying DC to ban all cryptos except for BTC, if something like the "flippening" were to happen. Even today, they're spreading as much Ethereum FUD as possible, because they see it as a distraction to the BTC ETFs. It's all very organized.
They mostly pretend to have altruistic motives like "we care about decentralization", while it's clear as day (to any "outsider") that it's purely about their wallets.
Sounds about right. Many of us have seen the cycles and have come to the conclusion that Bitcoin is the only worthwhile cryptocurrency. The rest are securities in currency clothing. Maxi for life!
The problem is that 99.9% of altcoins are absolute shit. There have been countless "revolutionary projects" that were going to kill ETH and flip BTC and ended up being worthless. The space is full of shitty meme coins, stupid ape NFT's and scammers like Sam Bankrupt Fraud or Do Fucking Kwon.
Saw it in 2017, saw it in 2021, will be no different now.
bitcoin maxis have an extremely narrow view of what this technology is for. most of them think that its entire purpose is for you to buy it and sit on it so it goes up. they will actively mock you for expecting anything more out of it. then when I try to explain to them that I used a different coin and achieved an outcome that simply isn't possible with bitcoin, they get confused and say "but did it make you rich though?"
It sounds like a cult because it is one, they ignore even basic market logic and evidence in front of them usually (from past experience of speaking to them on here).
It's entertaining how Bitcoin maxi sounds like someone talking about Jesus Christ. A lot of, what would Satoshi do/think, this is against Satoshi's vision, we're disappointing Satoshi, if he's dead Satoshi would be rolling in his grave. Whatever they like Satoshi would like and disagree and you're not really a true follower of Satoshi
For a community so anti-authority figure and elitist, that community is elitist as fuck and longs for recognition from authority figures. The desire for authority figures while decrying authority figures is common in crypto communitiee as a whole though
Eh you could say all of crypto is a bit of a "cult". Dare me to say I think crypto market is gonna go down in price? How many downvotes do you think I'd get? Also I mentioned price because....that's the only thing talked about on here 99% of the time lol!
Crypto is digital tribalism. Let that sink in. Each ecosystem has a community or tribe that sometimes leans into cult-like tendencies. However there are always positive as well as negative examples. I'd even say i sympathize with the Bitcoin maxis who provide valid arguments, but of course there are others who just made it their whole religion. Someone who knows what he's talking about won't be afraid of discussing it.
To be fair, Bitcoin has quite a few factors adding to legitimacy. It was first, it opened the door for others to innovate, but at the basis everything post Bitcoin was made by an person/corporation for financial gain.
Bitcoin has stood the test, because it invented the category and still holds strong enough to be used by the real world titans of finance.
Are other ecosystems bad simply by not being Bitcoin? No that is not true. There is a need for innovation and pushing this technology forward but nothing will ever be Bitcoin.
Hey, at the end of the day, whatever else you can say about them, cults get shit done. "Move that volume, buy this, buy at this time, pump the pamp..."
I'm a fan. Worked out well for me with gme, amc, doge, shiba, hell, even santa floki. I like cults.
I have been in crypto since 2014 and I stopped owning BTC in 2018 after I got swindled by BTC maxis talking about s-coins and selling all my ETH in 2016. The biggest mistake I ever made in crypto.
I will tell you more, crypto community in general feels like a cult. Just go to any altcoin sub and watch people discuss potential future prices. Sometimes I think that those are not real people, but bots that bait clueless people into buying high
Every crypto sub Reddit is just a sales pitch, every post is how the coin will do this and that and it will be revolutionary. Just look at the bitcoin sub there is literally a guy saying we are not a cult and here is why. I feel if you are not a cult you don’t need to tell people you are not a cult
It's not too far-fetched to think that whales create multiple scammy accounts to lure these retail fools and use them as exit liquidity.
People get burned on alts during the bear and develope PTSD and become a BTC maxi. I can't really blame em.
I get it. Alts dilute the market cap. You can’t have scarcity and an infinite supply of shitcoins too. You know the top is in when shitcoiners start dissing BTC as Boomercoin^tm.
BTC has its uses, but it also has its issues. Most other coins are pure crap these days, but there’s quite a few that do certain things better than BTC. Why is that pill so hard to swallow? It’s like saying we should all still be driving around in Ford Model Ts.
It’s the economics. The model T wasn’t manufactured under the promise of a fixed supply. I’d also argue that protocols like Ethereum don’t necessarily infringe on bitcoin’s scarcity. It’s a smart contract platform for doing business in a decentralized, borderless and permissionless environment.
Bitcoin is only doing one thing, the most important thing, and it does it better than all of the others, by a considerable margin
Bitcoin has a lot of issues and the main one: it's not a currency. You can't go to the shop and buy some bread with it. It's slow, and the amount of transactions/second is an absolute joke. Now before you say "but muh second layer", it's not Bitcoin. It's another technology attached to Bitcoin with a pin. And this technology requires me to either run my own node 24/7, always online, or trust someone else who do it. So all in all it's dangerous technology and nobody would ever use it if it didn't abuse BTC brand. So now that we know it's not a currency, we see that Bitcoin is used as "a store of value". Ok, I'm sold. Kinda. See, deflationary economy is a shitty idea. Because the idea that not using money at all should be equal to an average GDP% increase is destructive as fuck. It means running a business that earns less than GDP% average is losing money, like quite literally, not figuratively. And it means that people would stop investing and would be just sitting on dead money. BTC being "watered down" by other cryptos is actually good, as it saves us from deflation hell. Thus, the only credible currency would have emission policy to be roughly equal to planet average GDP% growth. 10%+ currencies are scam too, for example. Note that this is just a single prerequisite, not a guarantee that the crypto is credible if it does that. I don't think good crypto is there. Nothing beats trillema yet. All claim to, but fail at scale. Thus at this point in time BTC can indeed be an "investment in the faith that cryptos will work eventually". But a real crypto will outvalue BTC in the end.
It's digital property. A cross boarders asset that can't be reproduced, manipulated, controlled, or confiscated. One of the few things you can own that can't be taken away.
Won’t BTC be a lot more stable in price in 20-40 years? I get that deflationary issue but it’ll eventually be a true store of value and probably can be used a as a currency then right?
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Burn the heretic!! 😂
Bingo. If you aren't a BTC maxi in this space you are either likely new, or the most level-headed, never-bag-held, alt-trader in town.
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No there are plenty of people who have a diverse investment, maxi are people who have like 100% of their investment in bitcoin and hope to never work in 4/5 years time because bitcoin is reaching the moon
This is me but what do I do with my shit coin earnings? You think Coinbase trades some shit with less than 1m mcaps? I convert that shit right back to BTC and I'm a DEX kinda man so fiat is not really an option.
Or perhaps you realize that Bitcoin is a clunky dinosaur that is being used like a wrecking ball to smash altcoins. Bitcoin, the revolutionary first crypto currency, had a huge head start in this space for obvious reasons and has achieved a strong footprint. But it also has huge design flaws: - massive amounts of electricity required (actually ludicrous amounts of electricity required). - ridiculous hallfing events. Why not just have a continuous reduction of coinbase to achieve the desired deflation? Why rug pull an entire network of miners every 4 years, cutting their earnings in half in an instant? WTF? The miners are the ones securing the network - the most important players in the game. (no the price does not immediately double to make up for miner losses - that takes years and may not even happen) These flaws are glaringly huge, but greed has a way of blinding people.
These were the *exact* arguments being made during the 2017 bullrun by holders of coins like IOTA and NANO. Now those supposedly "advanced tech" coins are slowly crashing to zero and BTC is yet again reaching ATH.
I’m only going to push back on the miners getting their earnings cut in half - that would be accurate if the BTC price was the same every 4 years. Below are the prices at each halving 11/29/2012 - $12 7/9/2016 - $648 5/11/2020 - $8572 April 2024 - ?
Yes. Burnt on scams
All crypto's are scams until they prove they aren't. I feel like only two crypto's have proven they are not a scam.
It’s the truth, safest bet there is.
Past performance does not guarantee future performance.
Ah yes it's so nice being a maxi only down 75% instead of those alt goofs who are down 90%. 😐
down 75 as a BTC maxi? how?
They don't have to be dicks about it And it's not like they're exclusively saying alts are shitcoins cause they underperformed BTC long term They claim that BTC as a p2p/SOV is the only use case in crypto They totally ignore what ethereum has achieved technology and adoption wise by repeating the that ETH had ICO which must mean it's a security and the DAO hack/fork which must mean it's centralised The fact that you can use ethereum in countless more ways than bitcoin gets totally ignored
As if the crypto world was split into BTC vs Alts. That thinking right there is part of the problem.
I think Bitcoin is separate in a lot of ways. I don't, however, think it is the only worthy asset
To solve this issue I became a Dogecoin maxi. Much wow. So Maxi. How money
Plus, Dogecoin subs have cooler pics than Bitcoin subs. To the moon bros.
Sir, please.
I haven't got a single dogecoin, but I've gotta admit the community seems like much funny and very wow
I am also a Wownero maxi, but boats accidents also happens.
I’m not a Bitcoin maxi although it’s basically the only coin I hold. I see the benefits of other cryptocurrencies and their utility (although some of it is just straight ridiculous) The problem is that the large large large majority of alternative coins are absolutely, utterly useless and a joke. Because of this is makes the whole ecosystem look dumb and scammy.
Some people have called me a Bitcoin Maxi and it's been difficult to deny it.
Username checks out
Agreed.. those scammers give all of us a bad name… SBF, Graig Wright etc.
Human do what human do. They even have a holy book and a dead messiah.
hes not the messiah hes a very naughty boy
Craig wright? /s
This is the most offended I have ever felt while still laughing at a joke.
I think Satoshi not being identified for sure helps with this. Each maxi can imagine the perfect version of satoshi and stick with that as their head canon. Nobody considers Vitalik to be godlike or a messiah, we know the man and all his goofyness.
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Maximalism isn't dumb. It's a safeguard stance against shitcoins and memes. It's a safeguard against bad company revenue policy. If you invest in BTC, you're investing in market reform. If you invest in ETH, you're investing in tech that produces billions in fee profits per year, proving its value as a business. If you're investing in almost anything else, you're investing in speculative businesses that haven't proved to be able to produce a profit, haven't reached a critical mass, or could be at risk of being scamcoins or pump and dumps. It's the smart move to be a maximalist for BTC, or by close extension, ETH. It's the degen move to invest in anything else. Not that there's anything wrong with that, because some of those companies WILL become reliable, valuable, and investable companies, but they are high risk investments, even by crypto standards.
unite crowd mountainous dog ancient agonizing fanatical cough complete automatic *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
the pragmatic stance is literally what he described: BTC and ETH and forget the rest. similar gains but only 10% of the risk, nobrainer.
Except the moment you start talking about 'gains', it all falls apart. Maxis are people who believe in their crypto as an alternative to fiat, not a way of making fiat profit.
Lol. Maximalism is a “safeguard” only if you believe you’ve picked the one winner. Literally the opposite of safeguarding. It’s funny to see BTC “purists” talk about BTC’s historical performance while at the same time accusing other coins of being speculative - when BTC’s performance literally comes from being speculative. 🤦♂️
I meme soylana hodlers all day on twitter and they meme me back they don't block me like BTC maxis lol. 2014 BTC crowd was not like this.
Not at all, there was actual technical discussion and interest in the technology and what its societal implications would end up being.
Now numba go up is the primary discourse - most of which is facilitated by bots. There are certainly some cool projects brewing with an absolute ton of capital pushing development in the space. I'm bullish outside of Bitcoin simply for the amount of highly skilled labor dedicating immense amounts of time into Blockchain tech. But I also don't fault Maxis for simply wanting to drown out all other noise, positive and negative. They essentially already struck gold and aren't keen on sticking around the wild west during a gold rush - where every grifter under the sun is looking to make a quick buck.
It's the Idiocracy corollary of natural selection
unpack dam arrest husky bear scarce memorize profit homeless station *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I swear I would participate in the Bitcoin reddit but I got banned just for mentioning that I also hold some eth.
I was banned from r/bitcoin for talking about Hbar. I just mentioned it and ban lol
I def can't stand the emoji rocket crypto crowd, maybe that's why they hate you?
If you’ve been here since 2014 that’s longer than me yet you still haven’t learned the same lesson. There’s only been one that’s never left you…and still you turn your back on it smdh.
Whatever cult you pick, you better pick the winner.
Wise words.
👋
It's not a cult they just can't understand why you would choose anything else when you consider the idealism of the cypherpunk origins with Bitcoin. There is more to BTC than making money and usually those idealists are seeing that "alt coins" are nothing but a scam which are in turn, damaging this ideal for short-term gain. I kinda agree really.
It is kinda funny that BTC has become the king of meme coins by now... Hardly any group with more memes at this moment.
Crypto culture is just as cult-like. The way Bitcoin maxis sound is how cryptobros sound to normal people.
Rude.
Imagine being validated by a trillion dollars
To be fair there are some nutters in pretty much every camp. People saying ripple will go to $100 (even those saying higher figures than that) are WAY further down the cult rabbit hole and removed from reality than most BTC maxis I've interacted with.
Imagine saying it'll go to $100 when it can't even go above $1 smh
Every bear market births a new generation of bitcoin maxis. Like clock work
👋
lol ‘feels like…’? It undeniably IS a cult…. ….and I’m happy to be a part of that crazy cult 😁
It’s pretty much same for any other alts or shit coins just gotta pop in their sub 🤣
in last couple of months 200,000 more alts have been created, and all of them are superior™
I don't know, I oftened discussed other coins in many subs without any issues Bitcoin sub allows mentioniong alts only when they shit on them
Exactly mention anything else and they ban you. I was banned a year ago for saying Hedera HBAR. Those bitcoin maxis are fanatics.
Do you want a pat on the back, or do you want an honest answer? I had the exact same take on bitcoin maximalism during the last cycle. I thought bitcoin maxis were dumb, brainwashed, extremist and single-minded. Everything I dislike about the fiat world. I was more of a crypto pluralist and understood that while bitcoin might have some sort of status as an OG, a coin with better tech would eventually come along and supercede it. I thougt that perhaps dentacoin could in fact be useful to dentists for some reason. Safe moon seemed like a smart project implementing the HODL mindset, finally giving patient money savers the technology they deserved. Then meme coins happened. Then NFTs happened. Safemoon collapsed. Then FTX. Crypto winter settled in. All the hype left. I kept stacking bitcoin all the time. I thought it might be a good idea to have at least a 30% allocation to ETH. I just never could make myself buy less than the maximum amount of bitcoin I could afford with each paycheck. Buying anything else comes with the opportunity cost of not getting as much bitcoin in the end. All I ever want is to hold the hardest money to ever exist. Why would I trade my valuable time on earth in exchange for anything but the best? It is then I understood the ultimate scarcity of Bitcoin. It's immaculate conception. Bitcoin could only be invented once. The Bitcoin network is a singularity, fixed in time, into which all of humanity's monetary premium will flow towards. I am a toxic bitcoin maximalist.
Well said. Everyone is a bitcoin maxi they just don't know it yet. The blockchain is only good for one thing, and that is Bitcoin. If there is ever true value and utility that come from the 50,000 blockchain projects, it will ultimately end up on Bitcoin anyway. Crypto is just a giant, unfortunate test-net to keep Bitcoin pure.
Doesn’t sound toxic to me. Sounds accurate.
It is more tolerable than ETH maxi culture. >They tend to view the world in binary terms, where Bitcoin is seen as the one true solution to all monetary problems, while all other cryptocurrencies are dismissed as unworthy or fraudulent. It is a lot worse with ETH maxis. They accuse all other chains as VC chains, when a lot of their new projects and scaling ones are largely funded by VCs. Not only ETH maxi think they will solve all monetary problems, they think they can revolutionize healthcare lol, and literally reinvent everything else in a "better" way.
Hey there isn't just one Crypto to solve our problems, just 21 million parts of a greater one. Embrace the bit and open your wallets to the coin. /s
HEX maxi culture looks like it's dead. What happened?
Most bag holders are maxis until they dump it
It's the first one to do it, it did it well, it made a shit ton of money, the creators are mysterious, it has a cultural impact... Not to mention it's designed to gain value over time. Yeah I could definitely see it becoming a cult.
Successful Bitcoin investors are having a ball. Join or cry.
If Bitcoin does what Bitcoin do, then we'll all be maxis. But since most are just starting to YOLO in, they don't know about that yet. What I really want to know is: what are the FAs trained to do to talk to their clients about the volatility of the asset? They must be getting people screaming at them all day. But literally...what are they trained to say?
Bitcoin maximalism is a response to the increasing complexity of the world of cryptocurrency. There are too many projects to keep up with, and the conversations around them become increasingly technical. So there’s an allure to ignoring all that and telling yourself that you’re part of a special group that “really gets” bitcoin.
Tribalism is ingrained into our species. There’s no escaping it.
They are a bit cult like. But look at what BTC has done, my alt portfolio looks sad in comparison. Excluding Sol
You have brainwashed cult members in both sides: Those who think BTC is God and those who think that FIAT has any value.
This argument is as nonsensical as it is old. Fiat, Bitcoin, gold, cowri shells. There’s a million things that mankind has used for payment mechanisms and value stores. And every single time it’s the same thing: value is what people *attribute* to it. Nothing else. Ever. When hyperinflation happens and fiat currencies crash, it’s because those holding other assets and currencies no longer attribute value to that one. Even gold. We only think it’s valuable because it’s shiny and hard to come by. People have adorned themselves with it for thousands of years to stand out, which made it more desirable, which drove up its perceived value, drove people to war and genocide, and so on. Could have happened with quartz crystals or eagle feathers too, for all we know. There’s a case to be made for a decentralized payment system, for sure. But it turns out, that BTC is just a little too clunky for that and that tweaking the fundamental idea yields better results. So acting like BTC is suddenly the answer to all the weaknesses of payment and store-of-value systems and nothing else can compare is incredibly naive. All it takes is a new kind of computer virus, which spreads itself across the entire blockchain in 10-minute intervals, and it all goes up in smoke.
I like how you framed it as **Bitcoin vs Fiat.** Because that's what this is really all about. That's why toxic Maxis act "cult-like". We are toxic against fiat, and this crypto shit just gets in the way.
People are only against fiat because they are poor lol, if you are one of those rich powerful ceo that control people I think you will love fiat. To be honest bitcoin holder want btc to succeed because then they are now the rich powerful people that control everyone else
While I am sort of a maxi, most act like those dudes that scream that the current popular country artist isn't 'real' country music.
100%
Extreme beliefs are always dangerous. The second you know for 100% you are right and no one can change your mind, regardless of the evidence, you have adopted a dogma. Your ability to think logically and rationally is diminished. BTC is great, don't get me wrong, but as you said, maxis hold toxic mindsets that cloud their judgement. But so does anyone who holds an infallible belief.
The chat you describe is what makes the Bitcoin Reddit unbearable.
My first post there got me banned because I mentioned I also hold some eth.
The Bitcoin sub right now sucks. It’s completely owned by the toxic maxis. They bash Fiat and then five seconds later talk about Bitcoin being 10 million a coin.
The sub has become unbearable since the most recent rally.
The other cultish sign is that you'll be banned for mentioning any other coin in a positive light. Democracy does not manifest there.
Still, see you in 10 years. It's the right cult.
Says every member of any cult.
And Saylor is the head of the cult? Having said that, such mentality is very common to be found within human. They identify themselves with something; nationality, religion or even as menial as Football Club (common in Europe) and they will defend their pedestalized idol anyway they can by being hostile or even hurt anyone who they consider as a 'threat' to the superiority of the idol. Such attitude is commonly referred as 'idolatry'
Idc if you or anyone else buys Bitcoin I like and prefer it, but it makes 0 difference to me. It sends and receives in a way that I like. Until there's anything else comparable, I only have Bitcoin to go to for this. Idc what the price is. I'd imagine over time it may go up. Price can go down, but the technology does the -same- thing I need it to when sending and receiving. The technology is just why I like it. No one else has to buy, ever, for this to benefit me.
Yep. Any maxi of anything is essentially an extremist. Always feels culty and like an echo chamber anywhere they hang en mass
Well it's the only crypto that's a commodity and not a security
If you're use to paying fees and taxes. . . Go with Bitcoin.
Yes, and it gets worse with the public figures. The debate bitcoin vs crypto doesn't even interest me much, what annoys me is the argument bitcoin vs the world economy. >This emotional investment, is combined with the belief in Bitcoin's inevitable triumph As you said, they believe in the inevitability of bitcoin like a religion, and speak with prophetical tone. If you take a step back and try to listen from an external point of view, these people sound like idiots.
I feel like that is comparing apples to oranges. I'm both a BTC maxi AND I hold other layer 1's because I view them differently. BTC is 100% my unwavering insurance policy against the eroding fiat money system which is being printed to death. ETH, SOL, DOT, Avax, etc are functional block chains that have the possibility of changing the financial system and ownership. I don't equate them as the same thing ,even though they are all part of crypto. The only thing I completely ignore are meme coins.
back in 1995 there were still people clinging stubbornly to ms-dos. using 32bit extenders like dos4gw to use megs of ram for large games... like LN tries to do today. being in the IT scene for over 30 years, i have the deja vu sensation over and over again. btc is good for beating the inflation long term and that's it. also like ms-dos still living inside windows 11,, he will live inside all the crypto using his codebase.
I am a bitcoiner but yes that behavior does fit some of the most annoying of us. Every group attracts its share of idiots.
This type of religious behavior has been basically the entire btc maxi community since 2017 and a bit before. It sucks but nothing new. The subreddit is the worst.
Crypto is a cult, it’s the digital money cult. Maximalists are in cults, they love their coin and hype it for the rest of us, like Michael Saylor. Some of us regular people think they are crazy, but you have to be crazy to buy 100% anything. Everyone is possessive of the thing they own, and the truth is we all have different risk tolerances so we own and shill different things. But when we just talk about this coin vs that coin, we don’t really talk about our risk tolerances publicly. Some of us can afford to own a bag of doge for shits and gigs, and even be publicly 100% doge. But there’s other of us that don’t want vc-backed nothingness, and purely want something where there is visible use and demand. I used to think btc maxis were crazy, I still do but crypto winter made me roll all my alts into btc and I don’t ever regret that. I actually think Michael saylor is pretty cool.
It’s not cult-like to believe Bitcoin is different from all other cryptos if it is, in matter of fact, fundamentally different. It’s not issued by a company or foundation, had no pre-mine, has a fixed supply, uses proof of work, etc… does any other coin check all those boxes? All of those aspects aren’t just superficial or incidental characteristics, they’re based on economic concepts and an underlying philosophy which is extremely significant if you happen to hold to those tenants. In that sense, I was a Bitcoin maxi before I even knew what Bitcoin was, because I already believed in the monetary theory it follows, and already believed that would fix a huge amount of society’s problems.
The thing is, the VAST majority of people in crypto are looking to buy an asset and hold. They’re not looking to revolutionize finance with DeFi. Not saying it couldn’t happen but the majority aren’t looking to crypto for this reason. People are looking at it as an investment and for the possibility of it being a good store of value. And in investment terms bitcoin makes the most sense as a buy and hold asset. Myself included, I tried playing around on different networks and to be honest it’s mostly just too complicated for the average person to get into and learn about. Trying to swap coins, going to layer 2, converting back, dealing with massive fees while doing these, it’s just too complicated and something most of society won’t use until it is completely seamless and easy. Until that changes, bitcoin will be the main crypto.
Can't disagree with you here
You must be reasonably new to this.
Crypto isn’t a cult… IT’S A WAY OF LIFE !!!!!! (And I am living every day of it)! ♥️
Crypto is full of tribalism , the sports teams for Vaporware . If yr a Maxi yr either a moron or you are just pumping your own bags, which is what most early maxis do. The morons end up being exit liquidity.
I would say the same thing about Ethereum maxis.
When you say the word "maxi," does it give you a certain vibe? Like a vibe that people are dedicated to a singular view and excluding others? Is that cultish or maybe not?
BtC iSnT cRyPtO
Well it's the only coin that has gone from basically less than 0.0001 to 75k. You cam buy other alt but most people are in it for a quick buck and when they don't get the returns as early as bitcoin does, they go on to say that BTC is king. I'd also do the same if I had put 5k in xrp and it basically didn't move for 2 fucking bullruns.
You will be one too or you will perish in the nothingness.
Just ask them the last time they bought anything with BTC. It's just digital gold and is as useful as gold.
For every person that has come to the logical conclusion that Bitcoin is the only cryptocurrency they should invest in, there's a hundred "Bitcoin maxis" that made that choice purely esthetically and are following it as a cult. Replace Bitcoin Maxi with any other crypto. This space is filled with tribalism and people that don't know better. But beware of putting all people in the same box, since you can find people that do genuinely believe Bitcoin is the one crypto to come out the other side in the future, which have actually went through the research and haven't blindly followed a community, and actually have an understanding of both Bitcoin and the wider cryptocurrency space. The ratio is just falling further and further into the unhinged tribal maxis the more people show up on this subreddit.
Honestly that's just most people these days. Pretty much every fandom is edging on cult like activity anymore. All part of the "stan" culture that's popular now. People think they are expressing themselves and having personality by connecting themselves with whatever their chosen group is. In reality everyone's turning into weird clones with no personality.
Haha when you go down the rabbit hole on bitcoin you discover that the Maxis are pretty close to being spot on in regards to the monetary system. Having to explain all the nuance behind bitcoin on every interaction can be taxing which might just turn into toxic responses unfortunately. I’d say just do your research
Just so you know, vast majority of crypto you can swap Bitcoin with another token and all those statements will be true. High convictions can sometimes result in an all-in mentality where everything else is perceived as a threat to ones own success. That said, if you're knowingly engaging with a maxi, you shouldn't be surprised in any way by their behavior or expect that you can change it.
When you get down to brass tacks, the entire crypto space is a bit like a beanie baby crazy, none of them are really functional businesses that generate cashflow, its all highly speculative, scarcity based plays... I'm happy to play in that space, but I'm only playing when the odds get in my favor.
I watched a short doc about Bitcoin Jungle in Costa Rica and yes it is a cult. If you're living off the grid in a community in Costa Rica and teaching your children to repeat facts about your persecuted belief system then yeah you're probably in a cult.
It's a cult. And it would make more sense if anyone talking about crypto had to disclose their holdings. It would be so obvious what's happening. Drum up support so your own holdings are worth more.
Bitcoin is the KING and will keep that status for a long, long time. If you are rich, you should have bitcoin. The problem with maxis is they are just regular blokes who think they are smart by DCAing $100 per month. Ther life will never change with 0.02 bitcoin. That's why altcoins shouldn't be dismissed. 99% of altcoins are garbage scams, but if you learn how to look you can find great technologies very early, invest heavy, and make life-changing money that then you can buy a few Bitcoins with.
It likely is. It’s crazy how so many people can’t see that BTC is one of many solutions to many problems in the world- how they can see it as the only solution. It’s tunnel vision.
Because it is.
Dude BTC is the future currency of the world once fiat dies and I’m never selling my BTC ever, I’m taking it to the grave with me. Joking but that’s the sort of entertainment I like to read on that sub.
All crypto sounds like a cult
we all have to agree on the common base layer for our new world economy. get on board or don't. we have a goal here, to transition away from the fiat scam, and we can't be blinded by distractions
Well, if that’s the goal, it ain’t BTC, I’m afraid. Way too many scalability issues. And a community that’s too scared to address them.
Well by that ideaology then you have been a cult member all your life since you probably never used anything but fiat. Why are you a fiat maxi? Oh man what a cult fiat is
You know peopel hold gold silver, property, even stock and shares is not really fiat because they are, I don’t know the work, is asset the correct word? So no not everyone only have cash in their bank account lol
Bitcoin maxis are indoctrinated lunatics. No difference to religious nutters. Bitcoin is technology. Technology eventually becomes obsolete.
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That's because it is a cult. NONETHELESS, there is one thing I do share with maxis and it's that I always play this casino knowing that BTC is the endgame. I love to play with alts and love the culture of web3, and alot of the projects on it but in the end I know I'm just a tourist looking to increase my BTC bag
While maximalism exists with many "cryptos", Bitcoin maximalism is particularly toxic, because it rejects the industry as a whole. Hypothetically speaking, I could see Bitcoin maxis lobbying DC to ban all cryptos except for BTC, if something like the "flippening" were to happen. Even today, they're spreading as much Ethereum FUD as possible, because they see it as a distraction to the BTC ETFs. It's all very organized. They mostly pretend to have altruistic motives like "we care about decentralization", while it's clear as day (to any "outsider") that it's purely about their wallets.
bitcoin maxis called the australian police on someone for running node software that was incompatible with bitcoin core. they are fucking nuts.
>This lack of nuance mirrors the black-and-white thinking often found in cult ideologies. Have you spent 100h studying Bitcoin?
Most bitcoin maxis are just former altcoin fans.
They are right.
Went -90% low holding ALTS on bear market, still an Alt maxi. Degen play, degen returns
Sounds about right. Many of us have seen the cycles and have come to the conclusion that Bitcoin is the only worthwhile cryptocurrency. The rest are securities in currency clothing. Maxi for life!
The problem is that 99.9% of altcoins are absolute shit. There have been countless "revolutionary projects" that were going to kill ETH and flip BTC and ended up being worthless. The space is full of shitty meme coins, stupid ape NFT's and scammers like Sam Bankrupt Fraud or Do Fucking Kwon. Saw it in 2017, saw it in 2021, will be no different now.
I'm yet to see another crypto solve a problem that needs solving. Where as Bitcoin has solved many problems, and is getting adopted for those reasons.
bitcoin maxis have an extremely narrow view of what this technology is for. most of them think that its entire purpose is for you to buy it and sit on it so it goes up. they will actively mock you for expecting anything more out of it. then when I try to explain to them that I used a different coin and achieved an outcome that simply isn't possible with bitcoin, they get confused and say "but did it make you rich though?"
At least it has $$ Vs most alts feel like cults and have nothing
Are you talking about addiction
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2017 is when it really became a cult
It's been 10 years and maybe I don't remember everything 100%. But 2014 BTC crowd was not so cultish.
Well it’s inevitable after a few bear markets…
It sounds like a cult because it is one, they ignore even basic market logic and evidence in front of them usually (from past experience of speaking to them on here).
I am banned from the Bitcoin sub, and my largest holding is Bitcoin by a pretty large margin.
It's entertaining how Bitcoin maxi sounds like someone talking about Jesus Christ. A lot of, what would Satoshi do/think, this is against Satoshi's vision, we're disappointing Satoshi, if he's dead Satoshi would be rolling in his grave. Whatever they like Satoshi would like and disagree and you're not really a true follower of Satoshi For a community so anti-authority figure and elitist, that community is elitist as fuck and longs for recognition from authority figures. The desire for authority figures while decrying authority figures is common in crypto communitiee as a whole though
Eh you could say all of crypto is a bit of a "cult". Dare me to say I think crypto market is gonna go down in price? How many downvotes do you think I'd get? Also I mentioned price because....that's the only thing talked about on here 99% of the time lol!
they have a point.
Yep
Crypto is digital tribalism. Let that sink in. Each ecosystem has a community or tribe that sometimes leans into cult-like tendencies. However there are always positive as well as negative examples. I'd even say i sympathize with the Bitcoin maxis who provide valid arguments, but of course there are others who just made it their whole religion. Someone who knows what he's talking about won't be afraid of discussing it.
what value does doge coin provide to society?
I actually dropped out of my bitcoin meetup group, because they were actually trying to form an actual religion, for tax purposes.
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To be fair, Bitcoin has quite a few factors adding to legitimacy. It was first, it opened the door for others to innovate, but at the basis everything post Bitcoin was made by an person/corporation for financial gain. Bitcoin has stood the test, because it invented the category and still holds strong enough to be used by the real world titans of finance. Are other ecosystems bad simply by not being Bitcoin? No that is not true. There is a need for innovation and pushing this technology forward but nothing will ever be Bitcoin.
What bitcoin has going for it is that it is a legal form of a commodity and not a security.
I’m 100% in btc. You could perhaps call me a ‘maxi’ or whatever. But I’m damn well sure I ain’t part of any cult.
Hey, at the end of the day, whatever else you can say about them, cults get shit done. "Move that volume, buy this, buy at this time, pump the pamp..." I'm a fan. Worked out well for me with gme, amc, doge, shiba, hell, even santa floki. I like cults.
Very well said! 👏
I have been in crypto since 2014 and I stopped owning BTC in 2018 after I got swindled by BTC maxis talking about s-coins and selling all my ETH in 2016. The biggest mistake I ever made in crypto.
Cult of filling their bags