Today at Community Token Talk podcast there was a discussion about bitcoin maximalist and more specifically about Michael Saylor claims how all cryptos other than bitcoin are securities. We at Hive have a broader understanding of blockchain technologies and solutions they offer. We don’t limit ourselves to only fixing the flaws of traditional banking and finance, but we also are on a mission to transform web for better. For this reason and the qualities of Hive we have good reasons to claim to be pioneers in decentralization.
However, debating or discussing merits of bitcoin vs Hive or any other crypto project with bitcoin maximalists will not be fruitful for several reasons:
- First, there is a conflict of interest for any bitcoin maximalists to endorse any other legit crypto project.
- Second, what bitcoin solves and what projects like Hive solve are two completely different problems.
- Third, majority of crypto projects, coins, and tokens have very bad reputation for being scams, rug pulls, Ponzi schemes due to the greedy, scam and fraudulent actions of those who benefited from them at the cost of others.
We all need bitcoin maximalists. They serve a very good purpose not only for bitcoin but other blockchain projects as well. Bticoin is globally recognized first decentralized brand, and a brilliant technology that fulfills its purpose as intended. Its success and recognition have paved the way for other crypto projects and solutions. It will continue to do so. It also has inspired all the other projects that came after it. Even if we just look at the price action of coins, by now it is obvious to everybody that crypto prices in general rise when bitcoin price goes up and decline when bitcoin price is on the downtrend. So, bitcoin in a way is a marketing tool for all other crypto innovations.
Bitcoin is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don't have the option or desire to run their own hedge fund.
~ Michael Saylor
Michael Saylor is my favorite bitcoin maximalist. Despite my top crypto advisors @bluerobo and @tuck-fheman warning against believing what Saylor says, I am convinced Saylor is honest and a lot of what he says make sense. Honesty is the most important quality a person can have in trying to convey a certain message. Especially so when the topic involves financial decision making. I have no reason to believe Saylor has been dishonest in any shape or form since started talking and educating the public and companies about bitcoin. In fact, he has been doing a great job educating people about this technology and explain complex topics in a very simple and understandable manner. He even dedicated one of his websites, hope.com for this. Feel free to visit the website for content and resources about bitcoin.
There are many so called crypto experts and bitcoin maximalists in the crypto world. However, often most have ulterior motives and what they say do not match their actions. There are many so called crypto leaders who made a lot of money in this space under the banners of decentralization, banking the unbanked, and web3 when their actions have proven to be completely misaligned with these concepts. For example, Brian Armstrong of Coinbase, CZ of Binance, Justin Sun of Tron, Craig Wright of BSV, Roger Ver of BCH. And then there are clear scammers who just build following just to deceive people and rug pull. Of course, there are many honest bitcoin maximalists who share their honest passion, thoughts, and ideas all the while trash talking about other crypto projects or completely ignoring them. So, honesty matters. It is even better when honest ideas and claims are backed with actions.
I see complete honesty from Saylor when he says bitcoin is best money. He can back this claim explaining this technology from many different points of view, be it from the point of view of finance, engineering, science, banking, business, or be it from point of the view of social, political, international affairs. Not only the way he explains how bitcoin works, and what it does in a detailed and convincing manner, he went all in with his own and his company’s money. His company now holds massive amount of bitcoin, and he continues to buy, at the same time repeating that he has no intentions of selling anytime soon. That is impressive.
When anybody invests all their money or almost all their money in something because they truly believe in the product or technology, there is a conflict of interest for them to promote anything other than that product or technology. Yes, other technologies like Hive are great innovations and offer something beautiful to the world. But Hive would be irrelevant for somebody like Michael Saylor, just like bitcoin would be irrelevant to someone who is went all in on Hive and doesn’t have any interest in other cryptos. It doesn’t mean their opinions don’t matter. They still do, but only in something they have total conviction about. I am interested to hear from Saylor why he thinks bitcoin is the best money and what bitcoin solves. But whatever he has to say about Hive would be irrelevant. Because he doesn’t have skin in the game, and it maybe against his financial interests to say anything meaningful and constructive about it. That’s why any opinions from him about anything other than bitcoin would be irrelevant.
Bitcoin and Hive are not in competition with each other. They both are great solutions for two completely different problems. Bitcoin offers a better alternative option to traditional financial systems and a new and better form of money. Hine on the other hand, offers a better alternative to traditional web, and is pioneering web3. Proof of Work in bitcoin for what is trying to do. I would even argue it is better than Delegated Proof of Stake for its purpose. But PoW is not a good fit for Web3, and DPoS handles Web3 in a much more efficient, and effective way. Both solutions are needed. That’s why I choose to be participant of both networks.
What both Bitcoin and Hive networks have in common is how decentralized they are. Both networks are way ahead of all other networks that claim or aspire to become decentralized. Decentralization is not an easy process. While it may require a central catalyst to get started, it is not always organically achievable. How far Bitcoin and Hive has come regarding decentralization is super impressive, and time goes by it will keep getting better. For these reasons these networks I can trust and know they will be around for long time into the future and will continue offering better alternatives.