Bitcoin Maximalism is Fundamentally Bad For Cryptocurrency and Bitcoin Itself

Where it started

Back when I got involved in cryptocurrency, there was a strong fundamental theme in the air. It was a sentiment of stopping the encroaching censorship and loss of many freedoms on a global scale. A push to regain what people call “fundamental human rights”. Something that I have said many times in past posts: Freedom is not something you ask for, it’s something you take and keep.

Through crypto we were taking back our right to do what we want with our own money. But also taking back our right to speak freely without censorship. Transact and trade freely, invest freely and support ideas we liked. With the hopes that in the future, new platforms would arise that would continue this trend. Allowing us to watch what we want and produce the content that we want. Think how we want and find new ideas in a free market place of such.

The Problem

But there is a problem, some (toxic) Bitcoin maximalists. It seems to me that some of them have lost sight of these very fundamental issues that they claim to be fighting against. Out of one side of the mouth they say one thing. Out of the other say and act antithetical to what they claim to be on the side of. Shortsightedness, greed and a lack of forward thinking past wanting their holdings to go up. Without having to trade or invest in other projects and wanting the world to only use bitcoin is not helping. Nor is that a free market.

That frame of mind is only going to make the problems we are faced with in the current day worse. The fact that the past 3 years of growing tyranny, on a world wide scale was not enough to wake these people up. Is in my opinion a true show of character or lack thereof.

Loss of Free Speech

Recent History

Platforms like YouTube, Facebook, Twitter and the like have been censoring people for a long while now. It started to be more evident going into 2013. When there was an explosion of new views popping up on YouTube. Any view that was not a part of the mainstream that started to pick up traction, became the target of censorship. This lead to the adpoclypse and the deletion of countless channels of content creators on various big tech platforms. These are people that lost their income and freedom to earn a living doing what they were doing. Along with their right to speak freely.

This growing censorship grew and extended out of the internet into the real world. We seen many speakers being censored and de-platformed. People who had any ideas or theories contrary to the norm were attacked IRL. We seen countless universities and their students targeting and de-platforming anyone and everyone who wanted to speak up about things they deemed to be wrong speak. In some cases even leading to riots and physical harm against the speakers and supporters.

Current Day

Fast forward to the current day where things have generally gotten much worse. We have forced/coerced “vaccinations” and lock downs. None of which is based in science and directly go against Constitutions, charters and international laws. If you speak up about it, you are censored. If you get traction you are suppressed by an algorithm or worse, your channel or account is deleted.  In some places you will get fined and it is getting to the point where politicians and the people that support this lunacy are proposing to arrest people for saying anything against taking these covid vaccines. They even censored the man who INVENTED the MRNA vaccine.

We also have political censorship. Just look at Parler. They got their whole platform shut down. Wiped right off the internet. let’s also not forget that the sitting president of the united states at the time was deleted from the internet. Even if you hate the man, you have to understand that if they can de-platform the PRESIDENT they can and will do it to YOU.

Going forward

We need to adopt new and decentralized platforms. Full stop. We all talk about it but no one wants to be about it. Instead maximalists are just sitting around screaming “alt coin bad” or “alt coin scam”. On the other hand you have alt coiners, buying shit meme coins.

I know creators that use YouTube to get their message out from various areas and walks of life. From preppers to freedom advocates, gamers to economists, People in tech to philosophers. Political channels, Right down to people just talking about current events. Some of which also do it for a living and use the income to feed themselves and their families. All being silenced and shut down. These are real people and they need real solutions to keep doing what they’ve been doing, earn a living and preserve their right to speak about what they want to. Bitcoin alone can’t do it. New platforms like Odysee which uses LBRY CAN do it.

In human history, there are countless examples of things being censored, even history itself has been censored. Believe it or not, YouTube is known to censor this. Anything that goes against any narrative they want will be censored. Do bitcoin maximalists care about any of this? Is it wrong to adopt, advocate and/or invest in a new coin that is used on a platform that fights against these things I have discussed?

Society is predicated on the fact that we can all speak, argue points and present evidence and logical arguments to come to new conclusions on things and keep moving forward together. We need platforms where we can do this and to me it looks like decentralized platforms are the only answer to this problem.

Loss of Financial Freedom

Rising Draconian Pushes

I have spoken about this in many previous posts. As time goes on and the more into the economic abyss we go. The more that we can see countries the world over becoming more draconian. Recently we have seen the US government propose that any transaction over 600USD be reported to the IRS. Even though this proposal was rejected, I will not be surprised if it is not proposed again, and again until something resembling it sticks. They claim it is to target the rich. This is a lie, it is clearly targeting the poor.

We can also look at countless examples of payment systems like PayPal, Patreon and the like as well as VISA and Master card along with big tech companies refusing service of people that say things that are against certain narratives and going as far as denying the release of funds owed to people. There also has been cases of entire platforms being cut off or being threatened to be cut off if certain accounts of content creators are not deleted. This is financial warfare 101.

Comply Or Be Shut Off

We have also seen in the past 2 years entire populations of countries being forced to close their businesses. In some countries, people that were doing online only businesses were also forced to shut down. If we continue down this dark path, we can bet that these corrupt governments will shut people out of the financial system if they do not comply. Even more so if we allow CBDC’s to become adopted. We will with out a doubt enter a world where if you “wrong think” or “wrong speak” you will be shut down and shut out. If you don’t take the medicine you are told to take you will be shut out. Things like this only get worse.

As much as Bitcoin helps here, on its own it can only do so much. Bitcoin on its own does not provide many financial services within a decentralized framework that people need and rely on to live. Things like lending and loans, which for example Sovryn Defi (which I wrote about here) provides, along with an entire suite of financial products, services and financial operating system which uses Bitcoin. Things that people need day to day to move money and again, things that Bitcoin on its own cannot do.

Adoption

So if Bitcoin users want Cryptocurrency to be adopted, how do they propose all of the things we need to fix will work? Is it so wrong to have a market with multiple coins? Multiple platforms, services and products that every day people need to live a comfortable life? Do the maximalists even care any further than wanting to be the person that got in earlier than the rest of the world? This is antithetical to everything they claim to stand for and in my opinion not in the vision of Satoshi Nakamoto. If Bitcoin is to be adopted I argue it will only happen in a free and open market. This includes multiple coins and tokens.

I will also add that governments are also trying to encroach on our financial freedom in the crypto space. They already have their hands in Binance. This will not stop. We need the platforms that will allow us to fight the over reach of these desperate governments coming after the crypto market. Are these platforms to only use Bitcoin? No other coins?

Loss of Bodily Autonomy and Medical Privacy

Another issue we are faced with in the current day, is loss of privacy medically. As we all know. Countries are demanding people divulge private medical information. Either in the form of a letter or QR code. Furthermore, they are also demanding everyone to take an injection. Under the threat of job loss and being ostracized from society.

One thing I have always liked, is the idea of a decentralized medical system where each person holds their own private key. This way no one other than the individual person can access the medical data. They would be able to share the data with who they want, when they want or when they need to do so. Tech like this can be used to fight back against tyranny and preserve the right to privacy. People could also run automated smart contracts that can activate in certain events and automatically get data to where it needs to be. All of these things are possible but we have to be open to a free market with multiple platforms, protocols, coins and tokens. Bitcoin cannot save the world on its own which is one of many reasons it is open source, so we can keep building.

Conclusion

These things I discuss in this post are very serious issues. Serious like a heart attack. I implore anyone reading this to adopt decentralized platforms.

If you are a YouTuber, make an account on Odysee: https://odysee.com/

Are you are a musician? Check out Audius: https://audius.co/

Looking for a decentralized financial operating system to handle your financial affairs? Check out Sovryn and consider joining the Bitocracy so you can have a say and participate in it: https://www.sovryn.app/

So many good projects are in this space building actual solutions. meanwhile, the maxis argue against anything with a coin. ALT coiners, you are all not off the hook here either. Part of this game is doing research and looking for GOOD projects that have strong fundamentals. Projects that can actually make our lives better and fix issues the world has. If you value the fundamentals of cryptocurrency, freedom, open markets and the vision of Satoshi, looking for ALT coin projects that help these things should be paramount. The irrational investing in meme coins that do nothing is not going to help us.

This post was not made to be an attack. However, this market needs to grow up and get its collective head out of its ass if we are going to turn things around. Wake up and look around. There’s a bigger picture.

Categorised in: Education, Fundamental Analysis, Politics, Uncategorized

This post was written by BlockAdvisor