Bitcoin maximalists are decentralization maximalists. That is the start and finish of it. It isn’t about worth motion, use instances, flippening, and so on and so on. They do not just like the decentralization tradeoffs made by ETH. It is a legitimate stance if in case you have a worldview (rightly or wrongly) that incumbent energy brokers are basically adversaries who will shield their place with violent coercion. Within the early days (earlier than ETH existed), it was fairly generally assumed that within the insanely unlikely situation BTC succeeded and have become a reputable menace to State cash, it will be met with bans, then jail time, and finally bloodshed and conflict if it proved that resilient. I believe it is a far weaker narrative now however was a typical perception for a lot of adolescence.
ETH people appear to view present energy buildings in a extra benign mild and are simply excited to construct and mess around with a brand new toy, make enhancements to the legacy system, and unlock new monetary devices and social configurations. If this naivety proves based in actuality, “decentralized-enough” could also be a sound strategy. I are likely to lean that approach increasingly.
But it surely’s value noting that Bitcoin made that potential by working interference for years, prioritizing decentralization above all else. State actors could not afford to assault and fail within the center years (’13-’16) as a result of stamp of credibility it will confer. And sufficient decentralization was maintained that it wasn’t definitely worth the threat of a failed assault when it was equally doubtless the undertaking would sputter and die by itself. It successfully acted as a protect whereas it and different tasks rooted their approach deeply sufficient into present infrastructure, mindshare, donor class pockets, institutional stability sheets, and so on. that “decentralized sufficient” is now recreation theoretically viable.
I am 80/20 BTC/ETH for disclosure however a finance and historical past buff with a doomer mentality by nature so align extra philosophically with Bitcoin. However clearly not a maximalist by definition; I’ve mined and owned dozens of cash over the previous decade and executed some good contract dev.
However this obsession with short-term worth actually misses the purpose. Except you are only a dealer wherein case I am unable to allow you to. But when we have actually already handed the Nice State Filter, ETH and BTC each have 1000’s of p.c appreciation to go as they’ve each received their vertical. Does not matter what you maintain, we’re all gonna be wealthy af. Bitcoiners are only a bit extra skeptical that decentralization in any respect prices is now not wanted. It is potential although. I am coming to consider assaults transferring ahead will doubtless be makes an attempt to coopt and neuter (financiallization, regulatory burden, fractionalization, non-fungibilty and so on) relatively than frontal assaults.