WHY I AM NO LONGER A MAXIMALIST. . .

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WHY I AM NO LONGER A MAXIMALIST. . .

I am a Bitcoin Standard Bearer

Words and definitions of terms are important and for too long those who hold that bitcoin and bitcoin alone will emerge as Hayek’s Standard have allowed THE CRYPTO WORLD to define who and what we are.

BITCOIN IS THE STANDARD . . .

The most notable recent example is when Roger Ver took personal umbrage when his fork of bitcoin was referred to BCash instead of his preferred term of Bitcoin Cash.

BCash is an accurate and descriptive term distinguishing BCash from Bitcoin but was a term offensive to Roger Ver because Ver did not want to distinguish BCash from Bitcoin, but rather wanted to co-opt the name bitcoin to suit his agenda to promote BCash as being “the real bitcoin.

To further this goal Roger Ver began using the term bitcoin core rather than bitcoin to describe the longest chain, with a fixed supply, secured by proof of work, borderless, and unconfiscatable, when no such bitcoin core coin exists, is an inaccurate description of what bitcoin is and implies bitcoin is centralized.

Who Controls Bitcoin Core?

As Bitcoin Standard Bearer Jameson Lopp points out, “No one controls Bitcoin. No one controls the focal point for Bitcoin development.”

Yet Roger Ver sees no reason why those holding bitcoin should be equally offended when he uses the term bitcoin core which is not an accurate description of bitcoin, but does happen to fit Roger’s narrative.

THE CRYPTO WORLD was quick to pick up on this terminology because they realized it was a fit for their ideology justifying competing monetary standards, rather than competing on the level playing field of one standard.

THE BITCOIN STANDARD PROVIDES FOR COMPETITION ON A LEVEL PLAYING FIELD

The sad part is too many Bitcoin Maximalists caved into Roger Ver’s spoiled brat antics and are adopting Roger Ver’s twisted definitions of terms.

But this phenomena did not happen in a vacuum. The precedent was set by Ethereum founder Vitalek Buterin in 2014.

On Bitcoin Maximalism, and Currency and Platform Network Effects

Bitcoin Maximilism is not a label developed within the Bitcoin community, but a label penned by Vitalik Buterin, an enemy of sound money, to vilify those who support bitcoin alone and warn against the dangerous monetary policies introduced with Ethereum.

Thread by @TuurDemeester: "1/ People often ask me why I'm so "against" Ethereum. Why do I go out of my way to point out flaws or make analogies that put it in a bad li [...]"

The label was quickly embraced as a badge of honor, integrity, and distinction from the plethora of alt coin and ICO scams introduced in THE CRYPTO WORLD, yet another term created by those opposing sound money in practice but embracing the theory of sound money to promote competing standards, rather than genuine currency competition.

CURRENCY COMPETITION VS PSEUDO CURRENCY COMPETITION . . .

In 2019 it is important for sound money advocates to take control of the dialogue by defining terms. Here are three definition changes that provide a good start.

I am no longer part of THE CRYPTO WORLD . . . I am a part of THE BITCOIN STANDARD WORLD.

I am no longer a bitcoin maximalist . . . I am a BITCOIN STANDARD BEARER.

I will no longer allow THE CRYPTO WORLD to define BITCOIN or THE BITCOIN STANDARD as bitcoin core.

There are many other ways to reclaim definition of terms as the transition to sound money marches on. Giacomo Zucco recently invented the term scam coin maximalist. . . a valid ad hominem definition I just added to my vocabulary. Ad hominem argument is valid so long as it is relevant and true!

Bitcoin maximalism dissected - Giacomo Zucco - Honeybadger 2018

UOG

PS: This is end of week. Basis widened over holiday. . . Market went no where as expected . . . I will add to long position if we break below this week’s low and/or again if we break out above 4000 . . . my position remains unchanged. . . hope this helps. Have a blessed New Year. UGLY


WHY I AM NO LONGER A MAXIMALIST. . . was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.