CoinEsel (@DonkeyInvestor) on getquin

2Yr·

⚠️ A warning to all Bitcoin maximalists ⚠️

Or: Why I will never become a Maxi

I really only mean the hardcore Bitcoin maxis like @oliverplass
@meta or @Stewie Who don't have significant reserves in other asset classes besides Bitcoin. If Bitcoin is just your only cryptocurrency and you hold other asset classes besides Bitcoin, that's perfectly fine of course.

But back to our maxis. Let's assume you guys are right. Bitcoin is superior to gold as a reserve currency, Bitcoin represents the best P2P payment network (considering Lightning, for my sake), you can easily build everything on Bitcoin so it could become the central technology for Web 3.0, 4.0 or 5.0, other cryptocurrencies are not needed and the FIAT system will go down. In case I forgot something else: Also assume this is true.

In short, Bitcoin is superior to all other alternatives and rationally the best solution to improve our world.

Even if I were 100% convinced of this, maybe even knew it for sure, I would not go All In Bitcoin. Why? Because the world is not rational. History shows that there are always superior solutions that still just don't pan out - for whatever reason. Bitcoin is superior to gold? Because of me, Betamax was superior to VHS too, yet VHS prevailed (that one was for the boomers here 😉 ). Bitcoin has the first mover advantage over other cryptocurrencies? Sure, but Microsoft also launched a tablet back in 2002. It took Apple with the iPad to make the tablet socially acceptable 10 years later.

Therefore, dear Bitcoin-maxis, do yourselves a favor and don't put all your eggs in one basket. Even if you were to be incredibly smart and right about everything, the rest of the population might be stupid and not see the opportunities and possibilities. Investing any wealth in a single asset, whether it is bitcoin, gold, real estate, or a single stock, is extremely risky and reckless. Even if you are right in principle with all your considerations.

#bitcoin
#maxi
#warnung
#esel
#crypto

110 Comments

Doomer@Doomer

2Yr

@ccf

•

View all 2 further answers

Lorena@Lorena

2Yr

Schlaues Eselchen

SAY IT LOUDER FOR THE PEOPLE IN THE BACK

•

View all 11 further answers

Dividende > Zinsen@GoDividend

2Yr

@ccf great now @Barsten runs off and buys more real estate😂 because of diversification🚀

•

View all 3 further answers

Chr S.@PlanetHugger

2Yr

That many make Bitcoin a kind of religion makes me bulish towards this fascinating new and unique network. Bitcoin will survive, says Gigi, and I think he's right. All-in about it? No, de nn you're getting to the point. And no, people will not learn. They know that eating healthy makes sense, or, or, or. The list is long and Bitcoin won't educate them either.

•

Michele@Michele1988

2Yr

@ccf
This reflects my opinion exactly. Stupidly, there are just too many examples in history. Often just wrong time wrong place, like your tablet example. I hope it never happens, but unfortunately fear that too many go all-in and lose everything. Not only related to Bitcoin, but in general somewhere and you don't wish that on anyone.

•

View all 11 further answers

Zackdela79@Zackdela79

2Yr

Great contribution! At the end of the 90s, a buddy of mine was constantly telling me that the Mini Disk was so superior to the CD that he would buy everything on Mini Disk. Maybe that was actually the case. But the problem was that the record studios preferred to release on CD, so there was very little available on mini disks, and shortly afterwards the first MP3 players arrived and mini disks (and CDs) were completely killed off 😉

•

Show answer

Tim@Minusgeschaeft

2Yr

Very well written, I also think even if you see BTC as a "superior" technology why not make profits in other asset classes? If you do not believe in an immediate system case, there is actually nothing against it. The part with VHS I have to google again, that tells me nothing🤓

•

View all 3 further answers

Jonas 🕊️@TheAccountant89

2Yr

@ccf 🚀

•

Dominick@Nick_Nick

2Yr

That is why such people must be left behind does not help anything

•

Show answer

Stewie G.@Stewie

2Yr

I am so happy to receive serious criticism, thank you for that. I just want to say that I don't have all my reserves in Bitcoin. I do own my stocks or other coins, but at my age I still live with my parents, just graduated from high school and have no current expenses.

Believe it or not, I still have dirty fiat as a reserve for emergencies.

Of course, Bitcoin doesn't have to experience the total mass adoption that many people imagine, but to be honest, that's not so important to me because I know that Bitcoin is already helping and has helped a lot of people and will very likely continue to do so in the future due to its properties.

You're right, people aren't rational and don't always think much about things (fiat bitcoin/problems), but people don't have to understand bitcoin at all to get sucked into it. The majority don't understand fiat either and take out loans anyway. Due to its monetary properties, Bitcoin's game theory alludes to the fact that Bitcoin could prove to be a superior store of value and draw people into the ecosystem as a result. I could go on at length, but it's too stupid for me to write.

On your last point you have a mistake, you are comparing Bitcoin vs other cryptocurrencies to Microsoft vs Apple, which is a bit off the mark.

Yes Bitcoin has the first mover advantage and was able to build a PoW without attracting much attention and the advantage that the "founder" has gone underground.
The other cryptocurrencies have a disadvantage compared to Bitcoin not only because of the first mover, but in the whole idea behind it, they are not decentralized and therefore do not have good monetary properties. This will eventually draw everyone into Bitcoin (if you can use it in terms of tps etc., which I strongly assume you can)

That's why I see the best bet ever before my eyes, it doesn't have to work out but the risk asymmetry is huge. If Bitcoin fails, I will go down with Bitcoin and be sad that we will never be able to build such a decentralized network again and our money will always be centrally governed.

But if bitcoin doesn't fail, then I'LL BUY A LAMBO🤤

•

View all 7 further answers