Remember George Orwell’s Animal Farm where “all animals are equal, but some are more equal than others?”
The book tells the story of a group of farm animals who rebel against their human farmer, hoping to create a society where the animals can be equal, free, and happy. Ultimately, however, the rebellion is betrayed, and the farm ends up in a state as bad as it was before, under the dictatorship of a pig named Napoleon.
It reminds me a little of the cryptocurrency environment; specifically, when it comes to being a Bitcoin Maximalist or Minimalist. And a Big Blocker or a Small Blocker.
You see, while all crypto anarchists are looking to achieve the same thing — a new, decentralized and digital economy — most of us hold vastly different belief systems, oddly at odds with one another.And we LOVE to debate and discuss it, so if you’d like to hear my views on Mining Maximalism and the Bitcoin Big Blocker Perspective, don’t miss today’s interview with Crypto Rich to see why the guys at The Crypto Vigilante recommend you stick to the Bitcoin Index. That’s to say, one Bitcoin (BTC), one Bitcoin Cash (BCH), and one Bitcoin SV (BSV) for every BTC you own.
Three different perspectives on Bitcoin
Bitcoin maximalists believe that BTC is the gold standard. It’s the digital asset that preceded all others, and has laid the foundation for everything that has come since. But not everyone believes that is the only viable cryptocurrency.
- First, those who say there’s never been anything wrong with Bitcoin. Bitcoin Satoshi Vision (BSV) sees that Bitcoin was perfect in its original design and is using the original Satoshi game plan, the same Applied Economics and the same pseudonymous game theory that made Bitcoin successful at the beginning.
For BSV the goal is to have protocol stability and unbounded competition, “we’re all entrepreneurs, have no constraints”. In other words, for all entrepreneurs to be able to say, “I am able to use the Bitcoin blockchain as I please for my business”. The most important takeaway here is that the BSV community is in sync, they know what they’re doing and there’s no contention, they have accepted the fact that Bitcoin is a ledger, that is transparent, open to surveillance, yes, and it’s also open to accountability.
For me, BSV is the perfect manifestation of Bitcoin. But that’s just me.
- Then, there’s Jeff Berwick from The Dollar Vigilante, who prefers Bitcoin Cash.
- Thirdly, you have guys like Mr. X who says we have to start from scratch and focus on privacy and fungibility to achieve the qualities of sound money and digital cash, while evading control from government regulators, mining cartels, and other adversaries. This means that the system should strive to remain maximally decentralized, while avoiding single points of failure or control.
Yes, things can get heated at TCV HQ…which is why we all deeply appreciate Ed Bugos who considers all the angles and perspectives without taking an immediate and passionate stand on anything.
I think you get what I’m saying here.
There are lots of opinions out there. So do your due diligence. Do your own personal proof of work. Step out of your echo chamber. Be flexible in the face of sound research and guidance. Whenever and wherever someone tells you NOT to look, you should be studying it in-depth.
This differential knowledge is what will make you profit above the rest in crypto – whatever your preferred world view.
Always dig a little deeper.
Crypto Economics Analyst