|

Bitcoin.org co-owner warns that crypto tribalism is creating “culture rot”

  • Bitcoin maximalism has caused a general culture rot in the cryptocurrency community, says Bitcoin.org co-owner, CØ₿RA.
  • Bitcoin supporter Trace Mayer stated that several altcoins can perform certain functions better than Bitcoin.

With over 2000 cryptocurrencies, the crypto industry has been attracting newbies into the market. While investors and users try to comprehend how smart contracts work and what a blockchain is, teams of developers keep changing goals, resetting roadmaps and updating proposals. 

The competition to come up with the best crypto asset has also sparked rifts that lead to forks. Bitcoin itself has been forked to create new cryptocurrencies like Bitcoin Cash, Bitcoin SV and Bitcoin Gold, etc.

CØ₿RA, the co-owner of Bitcoin.org and the popular forum Bitcointalk.org, calls the quarreling “culture rot.” He said:

Bitcoin maximalism has caused a general culture rot in the cryptocurrency community. Before maximalism people would see an interesting project and say ‘oh, cool’ and move on, now it’s become a religion to scream shitcoin and scam from the rooftops, even at legit projects.

In turn this makes the communities of various altcoins hostile to Bitcoin, since they see what *they* wrongly perceive as the Bitcoin community hating on them. Instead of everyone working together to succeed, we all shit on each other.

Even if Bitcoin completely fails, and something like Zcash or Grin or even Dogecoin succeeds and takes over the world, that’s already a *much* more free and open world than the pre-Bitcoin era.

Let’s also not forget that many people somehow jump into altcoins as their first exposure to crypto, and a lot eventually then migrate to Bitcoin. I guarantee you a lot more migrated back when there was less hostility between projects.

Someone who jumps into Bitcoin Cash as their first investment now is going to get even more entrenched and closed minded once they’re exposed to constant ridicule and flame wars. Sadly most of these maximalists would rather everything fail if Bitcoin doesn’t succeed.

Bitcoin supporter Trace Mayer stated that several altcoins can perform certain functions better than Bitcoin. She said:

Bitcoin doesn’t need to satisfy all the needs for all the people. Sometimes you want a knife. Sometimes you want a fork. Sometimes you want both of them together. So we have to keep an open mind.


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Top 3 Price Predictions: Bitcoin and Ethereum aim for breakouts as Ripple holds at $2

Bitcoin, Ethereum, and Ripple record a minor recovery on Monday, starting the week on a positive note. The retail demand for major cryptocurrencies remains strong despite outflows from Bitcoin and Ethereum Exchange Traded Funds (ETFs).

Top Crypto Losers: Monero extends losses below $370 as Aster and Bonk risk record lows

Altcoins, including Monero (XMR), Aster (ASTER), and Bonk (BONK), are at risk of extending their losses as the broader cryptocurrency market stalls amid the dragging peace talks between Ukraine and Russia. 

Bitcoin Weekly Forecast: BTC slips under $90K, no santa rally in sight

Bitcoin traders are counting on a year-end rally, awaiting a return above the $100,000 milestone. Bitcoin-based investment products are struggling with declining inflows and weaker institutional demand, relative to the beginning of the year. 

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.