May 2, 2025
Blockchain

The developer called bitcoin maximalists “an endangered species”.

  • August 8, 2022
  • 0

Bitcoin Core team member Matt Corallo described the maximalists of the first cryptocurrency as “endangered species” and urged them to stop attacking other projects. 1/ Bitcoin maxis is

Bitcoin Core team member Matt Corallo described the maximalists of the first cryptocurrency as “endangered species” and urged them to stop attacking other projects.

“There was a time when pretty much everything except Bitcoin was a crypto scam. But this has not been true for long, and “smart money” has begun to find out which projects are moving somewhere and which are directly Pump & Dump,” Corallo wrote.

In his view, its “voiceiest advocates” are attacking other communities with the opposite effect, rather than promoting the “greatness and uniqueness” of digital gold.

Corallo believes it makes more sense to focus the discussions on the qualities that make Bitcoin “a real candidate to be a truly neutral currency for the internet.”

The developer believes that “narrative wars” will escalate with Ethereum’s transition to the Proof-of-Stake (PoS) consensus algorithm.

“People who hear from bitcoiners that only ‘PoS won’t work’ will have less reason to listen to them,” Corallo said.

According to him, in the context of the policy of confronting existing projects in the crypto community, most of the Ethereum community (like Ripple before) will begin to set up regulators against bitcoin based on ecology.

“Because PoW the ocean boils,” he ironically recalled common fears in the developer community.

Users in the discussion of the Corallo title radically disagreed. Some, like Nick Newman, CEO and co-founder of the Casa platform, echoed their views:

“Turning Bitcoin into a constructive tool with positive, supportive narratives will be far more effective for adoption than constantly shouting that everything else is bad/scam/sin.”

User BitcoinCEOh had a different point of view:

“With every bearish cycle, new maximalists emerge. People are slowly realizing that everything but Bitcoin is a scam. Some look legitimate, but ultimately they are scammers. ”

The analyst, under the pseudonym Decodejar, also disagreed with Corallo’s thesis about the “extinction” of the maximalists:

“I don’t think maximalists are an endangered species. Bitcoin is fundamentally different from smart contract platforms, so those who prefer it will be supportive. But there is no reason why they shouldn’t all co-exist, and I suspect that eventually BTC will completely wrap itself around other blockchains.”

Recall that in April, Ripple president Brad Garlinghouse accused bitcoin maximalists and supporters of certain cryptocurrencies of hindering the development of the industry.

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Source: Fork Log

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