Bitcoin maximalism is a philosophy/mindset by a group of people in the cryptocurrency world. Basically what they believe is that Bitcoin is the one true cryptocurrency and the best blockchain network of them all. They also believe that all altcoins are doomed to fail because they can never match Bitcoin’s value propositions and core features. They think Bitcoin’s path to mainstream adoptions goes as follows: Collectible – Store of Value – Medium of Exchange – Unit of Account. And altcoins are just centrally controlled projects that have no reason to try to utilize decentralization. By supporting altcoins, they argue that people are fragmenting the mining hash power available to secure Bitcoin’s network and also the developers available to code in the Bitcoin ecosystem. This video explains what arguments Bitcoin Maximalists believe and their stance towards altcoins.
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