Don't be a Bitcoin Maximalist

By BlockPost | BlockPost | 4 May 2021


Why blockchain technology?
Blockchain technology creates independence. Independence from central entities. This includes being able to use alternative services (also alternative means of payment/coins). For this reason alone, I cannot be a Bitcoin maximalist. Dependence on a decentralized platform is basically no better than a choice of several centralized systems. 
So I am more of an Independence Maximalist

Decentralization creates independence. Consequently, I am a big fan of decentralization, but also a friend of alternatives (alt-coins).

Decentralization of digital life
Stock exchanges, identities, finance (credit transactions, insurance, shareholdings, betting shops, donations and funding), art (music, videos, images), DAOs, video games, social networks.

These are all use-cases that Ethereum has already adapted.
Bitcoin is catching up, no question, but the speed with which Ethereum is driving the decentralization of the digital world is unbeatable. The contribution Ethereum is making to decentralization is unbeatable.
(I think you have already noticed, I like Ethereum).

Bitcoin as the ultimate money
Money is only one of the application areas for blockchains.
New application areas are emerging fast and a platform needs to be flexible enough to develop these application areas itself or adapt them early.
Bitcoin is secure, but unfortunately not very flexible.

Security
YES. PoW is more secure than PoS will ever be, but is that really THE decisive argument?
Do you have all your Bitcoins on a hardware wallet?
How many passwords do you use?
How often do you make a compromise in security just for a little more convenience or a few more features?
A PoS blockchain is not insecure, it can still beat the security of central systems by a long shot. It's just not as secure as Bitcoin is.
That's fine with me, as the benefit to decentralization outweighs it.

Nothing has to be 100% secure.
The most secure solution is not always the best.
There are more factors that make up a platform.

Is Windows more secure than Mac and Linux?
Is Ledger more secure than BitBox and Trezor?
Is Android more secure than iOS and BlackberryOS?

I think developers have a bigger impact on the success of a platform than users.
Users choose the platform that offers the greatest benefit.
Developers decide on the usefulness of a platform.

I think Ethereum makes it very easy for developers to test and implement new ideas. In this aspect, Ethereum is superior to all other projects.

That's why ETH is my biggest position at the moment.

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