Bitcoin Maximalist Woes: Old Arguments Resurface

Bitcoin in Green as Exchanges Defy Russia Ban Calls
  • Some unearthed facts stated that Satoshi Nakamoto took part in the creation of Namecoin.
  • The Bitcoin Maximalism controversy sparked anew after Nic Carter criticized the ideology.
  • A couple of months ago, Vitalik Buterin wrote a piece in the defense of Bitcoin Maximalism.

 

Amid increasing controversies regarding the Bitcoin Maximalist ideology, a couple of old arguments have resurfaced, adding to the maxis’ woes.

Specifically, the thread was published by Twitter user High Stakes Capital, who was a Bitcoiner back in 2013. According to the thread, Satoshi Nakamoto, the enigmatic creator of Bitcoin, did not have an ideology similar to the ones adopted by Bitcoin Maximalists today.

To bring clarity to those who are not entirely sure what Bitcoin Maximalism is, Swan Bitcoin International Managing Director Stephan Livera said:

I view Bitcoin Maximalism as simply being the view that bitcoin will someday be global money and/or that we’ll live on a bitcoin standard.

In more ways than one, Bitcoin Maximalists hold the said ideology in the context of money. However, the first tweet stated that the pre-release version of the Bitcoin source code includes a peer-to-peer marketplace, a framework for a poker game, and more. Moreover, Nakamoto took part in the creation of Namecoin, the first altcoin in 2010.

The crypto community became raucous regarding Bitcoin Maximalism after Coin Metrics Co-Founder Nic Carter presented the case for Bitcoin Mediumism.

Meanwhile, in the defense of Bitcoin Maximalism, Ethereum creator Vitalik Buterin wrote a piece that states how the crypto space could benefit from this ideology. The blog is particularly interesting since Buterin once wrote for Bitcoin before he created Ethereum.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.