February 13, 2021
Comments Off on All you need to know about Bitcoin Maximalist
If you have followed the Bitcoin community for at least 2 months then you should have heard about “Bitcoin Maximalist” many times. But what does it mean to be a Maximalist let alone a Bitcoin Maximalist?
What is the meaning of Maximalism?
Any person who has a strong belief in something. And is not ready to change his views is a Maximalist. These people are hell-bent on a point regressively. They will ignore anything that questions the belief they idealize. Each community has multiple maximalists who will blindly support their agenda. Likewise, there are Maximalists in the crypto world.
Who is a Bitcoin Maximalist?
In simple terms, a Bitcoin maximalist is a person who has an unwavering belief over Bitcoin. Bitcoin Maximalist do not accept any other cryptocurrency. These people think bitcoin is the only currency worth caring about. Due to which they despise all the other crypto-currencies. Maximalist even call their existence questionable and unwanted. There are thousands of people who claim themselves to be bitcoin maximalist.
All this started when a group of Bitcoin supporters came together. They backed bitcoin on multiple social media platforms and started calling themselves “Bitcoin Maximalists.”
Why Maximalists Love Bitcoin?
Bitcoin is the most prominent cryptocurrency in the world mostly due to its value. But, for a maximalist, that is not all the reason to consider it as its savior. There are many other aspects influencing people into becoming Bitcoin Maximalist. Some of the reasons why maximalist love bitcoin are as follows:
- No need for permission:
One of the primary reasons why maximalists support bitcoin is because it’s peerless. You don’t need to take any approval to send payments via bitcoin.
- No confiscation required
With bitcoin on your portfolio, there is no way anyone can ever confiscate your holdings. Due to its anonymity, it is rather hard to track the holdings of any individual.
Payments are mostly processed through financial institutes authorized by the government through trust. But it’s much better to transact through a decentralized currency like bitcoin. Here you will not have to trust anyone but yourself. This provides greater control which makes it dearer to maximalists.
- Self-sovereign bearer asset
The money we have at our bank is not completely controlled by us as we have given banks the right to use our money. But, with bitcoin, a user fully owns his holdings with no third-party access. This makes bitcoin a self-sovereign asset fully controlled by the bearer.
- Capped from inception
There is no limit to the supply of any commodity like cash, or gold. But bitcoin is a totally different case. The most debated topic about bitcoin by maximalists is its limit. There are only 21 Million minable Bitcoins in total which makes it very unique and valuable.
Does Maximalist affect the Bitcoin market?
Maximalism is a sign of blind trust and faith. Any currency which is not controlled by anyone solely soars based on trust and faith. Bitcoin maximalists play a very vital role in supporting its overall-growth. Some even say that the exponential growth of bitcoin is due to its loyal maximalist. Although this is a highly speculated matter and no sources have confirmed this news.