What does it mean to be a Cryptocurrency Maximalist?
Hello Freinds,
If you don't know, I write articles for @DBUZZ and help out with that project a great deal (*Such exciting things growing on DBuzz). This article is not about that, but today, the article I wrote was about a community member who described themself as a "Hive Maximalist". I was not 100% on the term, so I thought others might not be as well, and well... I wanted to help share the knowledge. Let's talk about being a Maximalist in Crypto!
At this point in the game, you’ve likely heard of being a cryptocurrency maximalist. But what does it mean to be a cryptocurrency maximalist? And why is it so important right now?
Maximalism (from my understanding) is the belief that there will only be one dominant blockchain in each category and that all others will fail. With so many coins and tokens emerging almost every day, it’s become necessary to figure out which ones have the potential to stick around for the long haul. In this post, we’ll explore what it means to be a cryptocurrency maximalist, as well as some of the major pros and cons of being a crypto maximalist. Let’s dive in!
What does it mean to be a cryptocurrency maximalist?
A cryptocurrency maximalist is someone who believes that there will only be one dominant blockchain in each category and that all others will fail. Maximalists believe that there have only ever been a handful of legitimate blockchain projects in the entire history of the industry and that all the others are just scams meant to trick people out of their money.
Maximalists believe that one day there will be a “Great Blockchain Shakeout” in which all of the fraudulent and weak coins and tokens will be eliminated from the market entirely, leaving only the strongest cryptocurrencies standing.
Maximalists believe that the vast majority of cryptocurrencies are not worth anyone’s time. They believe that a single coin can rule its category and that anything else is just a waste of time.
Maximalists believe that anything besides a handful of major cryptocurrencies is a waste of time and effort. They believe that the only way to make money in the crypto space is to invest in the major coins and that everything else is just a distraction.
Maximalists believe that anyone who invests in anything besides the most valuable coins is a fool and will lose their money.
(I could be wrong about the above, so feel free to weigh in with your thoughts in the comments).
Why is being a cryptocurrency maximalist important now?
The concept of maximalism is something that is incredibly important right now because there has never been a greater need to choose your investments wisely. With an ever-growing number of coins and tokens coming to market, those who focus on a select few will be better prepared for the inevitable shakeout.
Maximalism is especially important right now for one major reason: regulation. Because regulation is such a hot-button issue in the crypto world, this is the most important time in history for crypto investors to decide which coins and tokens to focus on. Maximalists believe that only a select few coins are legitimate enough to survive the regulatory storm and that all others are just shams. Maximalists focus their efforts on tokens that have strong, legitimate use cases and provide value to the world (*Like Hive!). Maximalists focus on coins and tokens that are actively being used in the real world, instead of tokens that are only used inside of their own ecosystems.
The Pros of Being a Maximalist
There are many pros to being a maximalist, but the main one is that it will help you avoid the inevitable crypto shakeout. When the shakeout hits, there will be a lot of people who lose money. This is inevitable, given the number of scams, frauds, and weak coins in the crypto space. However, if you are a maximalist, you will be prepared for the shakeout because you will have focused your attention on the strongest coins in each category.
Maximalists are prepared to weather the storm because they have done their research, they know what they are investing in, and they have a strong conviction that their investment is a good one.
Maximalists are able to make better investment decisions because they are prepared for the shakeout and they know which coins will be able to survive it. Maximalists are likely to make more money in the long run because they have focused their efforts on the strongest coins in each category and they are prepared to weather the storm. Maximalists are able to manage their risk more effectively because they have focused their efforts on the strongest coins in each category.
The Cons of Being a Maximalist
Like pros, there are many cons to being a maximalist, but the main one is that you will miss out on potentially massive gains from coins that do end up succeeding. Investing in a select few coins means that you will miss out on many other opportunities in the market. Maximalists will miss out on some of the biggest gains that have ever been seen in the crypto market because they have focused their efforts on only a handful of coins. Maximalists will miss out on potentially massive gains if they are wrong about which coins will succeed and which ones will fail. Maximalists will miss out on potentially massive gains because they have focused their efforts on coins that are already strong while ignoring the up-and-coming coins that could become even more successful in the future. Maximalists will miss out on potentially massive gains because they will likely be too worried about regulatory issues to consider investing in the next Ethereum or Bitcoin, perhaps even they will be too worried about regulatory issues to consider the next blockchain project that could revolutionize the world.
Conclusion
At this point in time, being a cryptocurrency maximalist is one of the more risky investment strategies, but it can pay off if you are able to correctly identify the strongest coins and tokens in each category. If you’re a crypto investor, you will benefit from researching the strongest coins in each category and deciding which ones you will focus your efforts on. If you’re a crypto investor, it’s important to remember that you have limited resources, so it’s essential to be selective with the coins and tokens you choose to invest in.
What are your thoughts?
Are you a Hive or Crypto Maximalist?
Do you think the storm is coming or is it here?
Cheers and Thanks for reading!
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