Bitcoin Failed as a Productive Asset and Maximalism Not Helping, Says Stacks

[waybesuricata]

Muneeb Ali, the founder of Stacks, an open-source smart contract platform for Bitcoin, says the top cryptocurrency has failed to develop as a “productive asset” and that maximalism as a strategy for growth was ineffective.

“The maximalist narrative has lost touch with reality,” Ali outlined in a long thread on Twitter on Dec 6. “Bitcoin maximalism assumes a zero-sum world. However, we’re in an expanding crypto economy.”

Ali, a Bitcoiner since 2013, adds: “Attacking developers and new use-cases does not help bitcoin. It only encourages those developers and use-cases to move to other ecosystems like Ethereum and Solana.”

Bitcoin maximalists believe that BTC is the only crypto asset that will be needed in the future, according to the online dictionary Investopedia.

They believe that all other digital currencies are inferior to bitcoin and that they fall afoul of the ideals as envisioned by pseudonymous bitcoin founder Satoshi Nakamoto.

However, Bitcoin has faced problems handling increased transaction volumes, leading to the emergency of other blockchain networks that could do so.


Source and continuation of news: https://beincrypto.com/bitcoin-failed-productive-asset-maximalism-not-helping-stacks-founder/

[codehash]

No need to mess with Bitcoin. Bitcoin is king. Everybody knows. If Bitcoin falls, all cryptocurrencies fall. If Bitcoin comes out, all cryptocurrencies will come out. Maximalists are right. Bitcoin is a king. Others need to prove that they are better. If they can't do that, it's pointless to talk.