Hi Friends!
The other day, someone asked me to share my thoughts on Bitcoin Maximalists, and so here it is! I also discuss my own strategy when it comes to building my crypto portfolio with altcoins vs. bitcoin. A big part of this conversation was springboarded from a tweet @heiditravels (blockchainchick on Twitter) made on the topic that I thought was pretty spot on!
I'd love to hear your thoughts on this topic below.
Ps... I also love making audience generated videos - and so if you ever have a topic you want to see covered - shoot them in the comment section as well! 🤗
Disclaimer: I am not a financial professional and all thoughts and opinions should be taken as such.
XO, Lea
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Just like in every real-world discussion, being an extremist/maximalist is never good, especially if you don´t accept other people opinion.
In the investments business, one of the most important rules is to not put all your eggs in the same basket. But, as you said, buying the "king" is the safest and most easy way to bring new people into cryptocurrency.
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Great point about not putting all your eggs in one basket!! I should have made that point in my video. haha It's true though... diversification is usually a safer bet.
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Exactly, diversification is the safest and best way to go, especially for those who don´t like to or don´t have the time to do intensive research and follow the markets closely.
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👍
~Smartsteem Curation Team
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Wow! Thank you Smartsteem!! 🥰
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I’m by no means a BTC a maximalists but I do plan to continue towards my goal of owning one full BTC and joining the 21 club!
But other than that I’ll invest in any crypto I feel confident, has a working product and is solving a real problem
I think crypto is still very tribalist at the moment but eventually we’ll see chains die, chains merge and converge and it won’t be as important which horse you back as long as you’re in the race!
I don’t see people doing master card over visa you just kind use it because it works and when the normies come that’s what it will be like for them
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A goal of owning one full BTC is an awesome goal!! It will feel so good once you get there! You make a lot of great points about how tribalist crypto is at the moment. I get that people get excited about their favorite projects, but I think more collaboration in general would help the space.
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Oh 100% agree and I don’t think it’s too far off eventually we’ll see communities realize it’s better to have a small part of a massive trillion dollar pie than trying to be everything to everyone
I think we who already in the space are impatient because we see where this is going!
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Thanks guys!
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This is a weird conversation to have - who cares what the motivation is for anyone to be in the crypto space. It's like some whiney millennial got offended by someone that had alot of BTC and didn't want to support their lame crypto project and labeled them a Maximalist in retaliation- its just a way to create division via labels. There's space for everyone to do what they do here, developers, traders, investors, etc. The question should be in what way do I bring my authentic representation into the crypto ecosystem? I trade BTC and post my ideas on steemleo. :)
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Yep - all good points! Except I think the maximalists tend to self-label themselves and wear that badge proudly. There is a lot of tribalism in steem and I agree that more collaboration towards a mutual goal would probably be a better spend of energy.
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I certainly consider myself a Bitcoin maximalist. There are no coins or tokens that compare when it comes to Bitcoin's superiority versus the market. That's not to say there won't be other tokens or that they won't have a value to someone but no other coin can truly compete as a competent monetary unit in my opinion.
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All great points. Bitcoin is considered the king for a reason... and it probably will be for quite some time.
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I agree. Have you tried a lightning enabled wallet yet?
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I also just did a video regarding this. A lot of people are jumping on the band wagon of being a Bitcoin Maximalist despite every block being filled up and the next boom the fees will once again go out of control and they don't take human psychology into perspective.
I show in my video that Litecoin out paced Bitcoin percentage wise in the last two booms in 2013 and 2017. I expect that to happen once again the next boom partially because of human psychology. People in general are too scared or can't afford an entire Bitcoin. This will play even more true when Bitcoin goes 30K plus...... people will gravitate to the "next Bitcoin" ..... stuff that actually works better .
No one is running out to buy an iPhone 2 or an Samsung Galaxy S3 . In the end history will repeat itself. Strong Alt coins will perform percentage wise better than Bitcoin.
EOS, Litecoin, Monero. Steem unfortunately isn't a strong alt.
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Lots of great points here Brian. I'll have to check your video out - it sounds like a great resource! I too wish Steem was a stronger alt... sigh. Maybe one day.
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Well STEEM will always play an important part in crypto history but in my time here since July 2016 it has went from #3 on CoinMarketCap to #82 so the value erosion hasn't been a great situation.
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Interesting considerations though can be tips.
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