?? Is Bitcoin the Only Crypto Asset That Matters in the Industry? The Tribalism in Crypto That Few People Talk About.
Bitcoin, with its unique features like a 21 million supply limit and an anonymous creator, is a digital asset that stands apart. However, while the term "crypto" is often thrown around, it actually represents "cryptography," the art of securing information from tampering.
"Crypto" is a broad term that encompasses all kinds of digital assets, not just Bitcoin.??
In the world of cryptography, we often hear about various crypto assets such as:??
- Altcoins??
- Stablecoins??
- CBDCs??
- Utility Tokens??
- Non-Fungible Tokens (NFTs)??
Each of these assets is distinct from Bitcoin as an asset class. Understanding and using the correct terminology is crucial for providing an accurate perspective.??
Bitcoin Maximalists (those who believe solely in Bitcoin) often argue that Bitcoin is the only asset that truly matters, dismissing all others. This ongoing debate has led to a divided community: Bitcoin-only proponents versus supporters of the broader crypto ecosystem.??
I've attended online events where I faced criticism for not subscribing to the "Bitcoin-only" mindset. Yet, despite this divide, government regulators seem indifferent to these internal conflicts.??
Does tribalism in the crypto space foster progress, or does it hinder unity???
?? I believe the answer is clear. Industry leaders should aim to create a more inclusive environment rather than fostering division. Unity within the industry is essential for advocating for sensible regulation.??
?? Shout out to Dr. Tonya Evans
Have you ever faced discrimination from maximalists???
?? Share your experiences and thoughts below.?
#Bitcoin #Crypto #Cryptography #Altcoins #Blockchain #Regulation #Inclusion #DigitalAssets #NFTs #CBDCs #CryptoCommunity
Digital Inclusion | Financial Inclusion | Innovation | Developmental Regulation
3 个月Coin and token tribalism, as I like to call it, is all part of the maturation process. We will all grow up someday, as things evolve.
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3 个月Interesting view
Professor | Expert in Crypto Policy & Law | Board Member, Digital Currency Group | Keynote Speaker | Forbes Contributor | FinTech Consultant
3 个月The tribal infighting can be really off-putting. Thanks for highlighting this. Bitcoin is a cryptographically-secured digital asset. Seems like it's within the broader category of crypto assets. Still, I do understand intellectually the distinction BTC maxis are trying to make. The aggressive "my way or the highway" is giving siloed cult-ish vibes, though. Counterproductive for educating people about "the people's money" .
Founder at LyfebloodDAO
3 个月It shouldn’t be the only crypto asset that matters. Nothing in life is singular. Just as we have all types of precious metals (gold, silver, aluminum, etc) that has value and practical human use so should any crypto asset. It just has to be worthwhile and add value to the human experience.