BITCOIN VS ALTCOINS
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WHAT IS BEING A BITCOIN MAXIMALIST?
The term “Bitcoin maximalist” is one of the most controversial in the crypto ecosystem. Popularized in 2014 by Vitalik Buterin, the creator of Ethereum, it initially referred somewhat mockingly to those who refused to recognize the legitimacy of blockchains other than Bitcoin. Yet, for many Bitcoiners, this term has become a banner. Because beyond a simple investment choice, being a maximalist means adopting a radical vision: that of a single digital currency that cannot be controlled by anyone, anywhere, ever. It means asserting that the only true blockchain revolution is one that brings about a currency independent of governments and central banks. Everything else, they say, is simply a repetition of past mistakes, where centralization always ends up corrupting the system.
Maximalism is therefore first and foremost an ideological commitment. It means believing that no other crypto can reproduce Bitcoin's unique combination of security, seniority, network effect, and extreme decentralization. It means rejecting the constant race for "improvements" that often sacrifice robustness for speed or marketing. Finally, it means accepting that Bitcoin is a minimalist protocol, whose simplicity is a strength: the simpler it remains, the more stable, predictable, and difficult to destabilize it will be. As Adam Back, one of the pioneers, often says: "The goal is not to change everything in the world, but to create a monetary base that doesn't change."
Being a maximalist doesn't mean hating all innovation. It means believing that innovation should occur in layers on top of Bitcoin (Layer 2, applications, satellite protocols) without changing the foundation of the protocol, which must remain as unalterable as possible to ensure absolute trust in the system.
THE ROLE OF ALTCOINS: INNOVATION OR ILLUSION?
Since Bitcoin's birth, more than 20,000 altcoins have been launched. Some with innovative ideas, others as simple opportunistic clones. Ethereum, in 2015, marked a major turning point by proposing a complete smart contract language (Solidity), allowing the creation of decentralized applications (dApps). This innovation opened up a vast field: decentralized finance (DeFi), non-fungible tokens (NFTs), stablecoins, blockchain games... In theory, altcoins like Ethereum or Solana have positioned themselves as testing grounds. However, for a maximalist, this profusion of altcoins is above all proof of a huge speculative bubble where the majority of projects have neither a sustainable vision, nor truly unique technology, nor authentic decentralization.
A fundamental point often made by maximalists: no altcoin can match Bitcoin's degree of decentralization. Even the best-known ones, like Ethereum, have centralized development teams, foundations that guide decisions, and sometimes massive pre-mines (tokens created before the public launch and distributed to a select few). These structures introduce obvious weaknesses: a government can exert pressure on founders, insiders can manipulate the supply, and the risk of drifting toward centralization is constant. Bitcoin, on the other hand, has no known founder (Satoshi is gone), no company, and no governing council. It is an open-source community, divided, often at odds, but whose very disagreements are the hallmarks of its independence.
HISTORICAL EXAMPLES OF FORGOTTEN ALTCOINS
To understand the maximalist vision, just look in the rearview mirror. Who still remembers Mastercoin, Peercoin, Namecoin, or Feathercoin? These altcoins, popular between 2012 and 2014, were heralded as revolutionary. All disappeared or sank into oblivion because they failed to attract sufficient adoption, or they came up against reality: a network is only valuable if it is secure, resilient, and has a strong, sustainable community. Many altcoins are born during bull cycles, ride the marketing wave, and then die silently in the following bear market. The maximalist sees this phenomenon as confirmation: most cryptocurrencies are not built to last, whereas Bitcoin has been around for over 15 years, has survived every attack, every crash, and has never been compromised.
THIS CYCLE: THE ULTIMATE TEST FOR ALTCOINS?
The 2024-2025 bull cycle presents unprecedented dynamics. Bitcoin is now at the center of institutional attention. Bitcoin spot ETFs, approved in the United States, have brought the largest asset managers into the game. BlackRock, Fidelity, Invesco, Ark Invest... All offer Bitcoin-related products to their clients, opening a multi-trillion dollar market. This institutionalization of Bitcoin reinforces its status as a “digital reserve” and a serious asset. At the same time, we are seeing a proliferation of altcoin and memecoin projects. But their actual dominance remains low: Bitcoin dominance remains above 55% on average, proving that even amidst general enthusiasm, the market favors Bitcoin as a safe haven. This cycle could mark a decisive turning point: either altcoins manage to demonstrate real utility and attract mass adoption, or they confirm their status as speculative bubbles, which collapse when liquidity becomes scarce. Because when fear sets in on the market, capital always flees to Bitcoin. Previous cycles have proven this: in 2018, as in 2022, altcoins fell by an average of 90% to 99%, while Bitcoin, despite losing 70% to 80%, has always rebounded first and stronger.
BITCOIN AT A DECISIVE TURNING POINT: BEEP 119 AND BEEP 348
Bitcoin is at a turning point! Two major technical proposals are currently on the table: BIP 119 (CheckTemplateVerify, or CTV) and BIP 348 (CheckSigFromStack, or CSFS). These two improvements, still under discussion, could profoundly transform the possibilities offered by Bitcoin. BIP 119 introduces “covenants,” a mechanism for restricting how a Bitcoin can be spent in the future. For example, one could program a multisignature vault with a time limit, a payment channel that closes automatically, or complex conditional payment structures. These features would open the door to use cases previously reserved for altcoins, such as simple and secure DeFi applications on Bitcoin, without the need for sidechains or external layers.
For its part, BIP 348 aims to add an opcode enabling more flexible signature verification (CheckSigFromStack), improving the construction of advanced smart contracts and compatibility with more modern cryptographic schemes. Together, these two BIPs demonstrate that Bitcoin can continue to evolve, but at its own pace, cautiously, without compromising its security. However, the community is divided: some fear that these new features will complicate the protocol and increase the attack surface. Others, on the contrary, believe that Bitcoin must adapt to remain competitive against altcoins. These debates illustrate the strength of Bitcoin: a protocol where nothing is imposed from above, but where each advancement must convince a global consensus.
THE POWER OF THE BITCOIN NETWORK
Another central argument for maximalism is the power of the network effect. Bitcoin has the largest number of independent nodes, the most mining power, the largest user base, and the deepest market liquidity. These elements constitute a nearly impregnable security wall. Altcoins, even the most serious ones, struggle to come close: Ethereum has fewer nodes, Solana regularly suffers network outages, and many others rely on a handful of validators. The smaller a network, the more vulnerable it is to economic attacks or political pressure. The maximalist therefore believes that only Bitcoin has the resilience necessary to serve as the global monetary base.
THE IDEOLOGY BEHIND BITCOIN: A TOOL OF RESISTANCE
Bitcoin isn't just a technology. It's also a political symbol. Designed in response to the 2008 financial crisis, its genesis block bears the famous phrase: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” A reminder that Bitcoin was born to challenge a system where money can be printed at will, where banks are bailed out while citizens foot the bill. Maximalists believe this spirit of resistance has been lost in most altcoins, which are often more interested in quick fundraising (ICOs) than building a truly alternative system. For them, Bitcoin remains the only protocol aligned with the cypherpunk philosophy: individual sovereignty, privacy, and the separation of money and state.
Crypto or Bitcoin Against the World?
The question, then, isn't whether to choose Bitcoin or an altcoin to earn more money faster. The real question is whether we want a monetary system that truly belongs to us, or to continue to depend on centralized authorities. Because even supposedly decentralized altcoins are often actually controlled by their creators. And when faced with a hostile state, it's much easier to censor or corrupt a small blockchain than a massive, robust network like Bitcoin. In a context of widespread surveillance, threats to financial freedom, and the erosion of fiat currencies, Bitcoin appears as a peaceful weapon to protect individual freedom. Being a maximalist means understanding that the real battle isn't between cryptocurrencies, but between a free monetary system and a centralized, opaque, and inflationary one.
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