⚠️ 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