Now if you’ve been in the space for a while now, then you may have heard of the term ‘Bitcoin maximalists’. In case you haven’t, they are basically extreme believers that the leading cryptocurrency is the best digital asset.
There is almost a war going on between Bitcoin maximalists and altcoins which has been going on for years now. This ‘feud’ isn’t a face to face thing of course, just via social media, where most feuds are settled. Essentially, the argument goes that the maximalists think that altcoins do not have a future.
A lot of them say that the altcoins are dying a slow death and so they, therefore, believe that the altcoins death will prove Bitcoin bulls had been right to hate on other cryptocurrencies.
One Reddit user has ‘fanned’ out these feuds by defining the term ‘alt-season’ as a “nefarious heap of bitcoin maximalist psychological horseshit.” The angry altcoin enthusiast went on to say:
“The term altcoin (while genuinely a thing within the space) has always been a term that only makes sense from the perspective of Bitcoin maximalists, subconsciously implying a binary division between Bitcoin (the market leader) and everything else.”
The altcoin fan went onto say that the cryptocurrencies were developed to that blockchain exploration could continue. Some altcoins even have a different coin distribution or economic models from Bitcoin. There also some tokens designed to remove the fatal errors in Bitcoins scalability or energy use.
It’s a pretty lengthy Reddit post too so if you want to read the whole thing click here.
As reported by Ethereum World News:
“Some do not use proof of work at all. There are altcoins also with a very versatile programming language, perfect for dApp projects. Others are designed for specific use cases such as privacy, data storage, or supply chain enhancement. There are, nonetheless, altcoins with zero use cases. They have simply tweaked a parameter that is of little use.”