I highly doubt it ever will, at least not fully.
It’s 2025, and I thought we’d see the back of this BS.
What am I talking about? Bitcoin and altcoin maximalists, a.k.a., maxis.
While predominantly associated with BTC, the phenomenon isn’t exclusive to the flagship crypto.
Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA)…you name it.
Some special people in this space—many of whom have a widespread presence on social media—insist on destroying a particular asset (heck, every other digital asset, bar their beloved one).
What specific examples? I refuse to name people for two reasons:
1) I don’t want to give them the attention they crave;
2) There are plenty of examples, so listing them would be singling them out when there are many culprits.
I will keep this short and sweet for everyone’s sake.
– There will never be just one chain that rules them all, especially when decentralisation is at the core of this industry.
– Bitcoin and Ethereum are slow but are currently done by design to ensure network distribution and robust security.
Don’t cherry-pick and immediately conclude that your chain is better without looking at the bigger picture.
Maybe it is or will be, but even then, it’s not so black-and-white.
There’s something maxis and their sympathisers don’t realise: Despite more institutional investors getting on board, most outsiders (not invested in crypto) still view us as maverick, libertarian Bitcoin/crypto bros who are out of touch with reality.
This industry already cops a lot of crap from laypeople, so don’t cause even more friction than what already exists.
I’m not saying we must come together, hold hands and sing “Kumbaya”.
Rather than pointless mudslinging, we should turn this into constructive criticism to improve blockchain tech and foster greater interoperability to onboard more people by having an enhanced UX.
Most of us are here for the money, so here’s a thought:
More people getting into crypto = more money flowing into this space = higher asset prices.
If there’s less hostility and a welcoming tone, this would help the cause.
We all have preferred coins and projects, but if you think everyone in crypto will abandon every other project to join your favourite one (and with full conviction), you need a head check.
Additional thoughts
Why do people adopt this mentality?
It mostly boils down to insecurity and strong vested interests, with a hint of immaturity.
Suppose you’re a tech company, and you repeatedly put down your competitors. What would you think of that entity?
Fortunately, I’ve noticed a gradual decline in all these divisions and friction across the crypto community over the years.
Don’t get me wrong; strong disagreements will continue for decades.
It’s not just between different blockchains. It can also happen within the same community.
Case in point: Bitcoin forks.
In 2017, we had a controversial Bitcoin hard fork when certain developers and community members disagreed on scalability improvements for the network. Thus, some created a new, non-backwards-compatible blockchain and asset, Bitcoin Cash (BCH).
This confused laypeople and those new to this space. Which one is Bitcoin?
Why stop at one fork when Bitcoin Satoshi’s Vision (BSV) comes along?
We went from one type of Bitcoin to three, not to mention the plethora of other spin-offs bearing Bitcoin’s name.
It caused more confusion for some newbies: Which Bitcoin should I invest in?
It made everything look ridiculous and threw Bitcoin’s 21 million max supply into disrepute, at least among the uninitiated.
Hardcore fanatics insist that their version of Bitcoin is the only one people should focus on, but I digress.
Since the advent of spot Bitcoin ETFs, common sense appears to have prevailed. There seems to be consensus about supporting BTC, not BCH, BSV or others, just Bitcoin.
Don’t believe me? Look at the prices of these assets denominated in BTC and most top altcoins and tell me they’re thriving…
BCH/BTC historical price chart. Screenshot on January 29, 2025, at 05:40 UTC. Source: CoinGecko.
BCH is down ~99% from its ATH relative to BTC.
Stop trying to create division to pump your bags. Most people can sniff out your BS better than a Labrador.
Should you call them out? That’s up to you. If you do, keep it short, sweet and (preferably) classy. There’s no point in arguing with an idiot.
As a reminder, even though we have large companies, there’s almost always more than one business involved in a given sector.
Some will remain large, and others will develop into behemoths. Each crypto will likely have its niche(s) for specific use cases and stakeholders.
So put on your big boy pants, realise we’ll have a multi-chain future, and quit throwing stones in your glass house.
Disclaimers
- The opinions expressed within this piece are my own and might not reflect those behind any news outlet, person, organisation, or otherwise listed here.
- N.B. None of this is financial advice; I am not a financial advisor. This content is for educational purposes only. You are ultimately responsible for crypto investments, let alone in any asset class.
- Please do sufficient research before investing in any crypto assets, staking, NFTs or anything promoted by these people and organisations, let alone other products affiliated with this space.
- Information is correct at the time of writing.
Featured image by Voyagerix at Shutterstock.