Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global

What is a Bitcoin maximalist?

by James Enajite
January 10, 2022
in Global
Reading Time: 3 mins read
2.9k
A A
0
Share on FacebookShare on Twitter

When Satoshi Nakamoto created Bitcoin, he had many intentions that were documented in the whitepaper. As a result of their early adoption of the technology, the early adopters have not only become millionaires but are now referred to as Bitcoin maximalists.


Who are Bitcoin maximalists?

They tend to fully embrace the concept of Bitcoin, its growth, computation, and hardly accept other cryptocurrencies as value other than “Bitcoin”.

You might also like

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
7.4k
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
7.4k

There is often a perception that “maximalists” are only interested in maximizing their profits from the holding and selling of other cryptocurrencies to own more Bitcoin. This has been acknowledged by the Bitcoin community as well, whereby those who are skeptical of anything “crypto” that is not BTC would never hold other coins or tokens. 

In order for Bitcoin to become the sole digital currency, Bitcoin maximalism must overcome certain hurdles. Due to the limitations of the Bitcoin network and its cryptocurrency, many altcoins and different variations of blockchain networks have arisen.


There is however a gradual change occurring as more and more projects are gradually taking away the shine from Bitcoin. This has had a very serious effect on the Bitcoin community, where members tend to talk down other upcoming projects in order to give Bitcoin the relevant preference in the crypto sphere. 

The so-called maximalists have sponsored several conventions with the purpose of creating the hype Bitcoin needs among world leaders and financial institutions. El Salvador has taken the lead in advocating the use of Bitcoin as legal tender and a store of value.

It appears that Bitcoin’s maximalist goal is one of the major reasons why governments have not yet adopted it as a financial instrument. As a consequence, the maximalists want everyone to think that Bitcoin is the only monetary system with value ascribed to it, whereas there are other cryptocurrencies with proven intrinsic value. Synergies between projects in the development stage and projects with established use cases would make the crypto market flourish.

The popularity of blockchain technology has led to the creation of private blockchains, modified versions of Bitcoin’s distributed ledger. Companies and governments can therefore create private blockchain networks in which only a few participants are permitted access to the network after they have been verified or authenticated. This blockchain can allow both permissioned and permissionless technology to be used, and it might also impose restrictions on what functions participants may use, such as read-only and editing functions. 

For example, a local government might be able to offer legal titles and record-keeping to certain taxpayers and businesses while restricting public access to these records.

Due to all this development on the Bitcoin network, Bitcoin maximalists today support the idea that a digital currency’s success depends on the blockchain network.


The Klever community and Klever team are fervent supporters of the Bitcoin network and its application. We continue to encourage people to seek knowledge and the possibility of attaining a deeper understanding of the benefits and utility of Bitcoin rather than just being proponents (Bitcoin Maximists) as the case may be.

James Enajite
Follow me on Twitter

Tags: bitcoin maximalist
Advertisement Advertisement
Previous Post

Klever Weekly Newsletter – January 7

Next Post

The day the first Bitcoin was transferred

James Enajite

James Enajite

A passionate lover of crypto and mankind with an active mind to create content to educate everyone within my sphere of influence. An entrepreneur with an open heart to accommodate young aspiring individuals to achieve their best in a global space.

Related Stories

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

by Klever
February 22, 2023
0
7.4k

We are excited to announce that Klever has recently joined the Web3 Domain Alliance, a group dedicated to promoting the...

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

by Isabela Bellumat
February 14, 2023
0
7.4k

With so many options available, it can be difficult to determine which wallet is the best choice for your digital...

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

by Warren Manuel
February 10, 2023
0
7.3k

Imagine a world where businesses and organizations operate with complete transparency, security, and autonomy. A world where intermediaries and central...

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

by Warren Manuel
February 9, 2023
0
7.3k

Investment and financial management have come a long way in the digital age. With the advent of Artificial Intelligence (AI),...

Next Post

The day the first Bitcoin was transferred

Klever Exchange to launch new NFT features

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8357 shares
    Share 3343 Tweet 2089
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7031 shares
    Share 2812 Tweet 1758
  • Bitcoin battles back from record losses to $21,000

    5915 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5359 shares
    Share 2144 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5072 shares
    Share 2029 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version