3 years ago

SHOW NOTES:
https://www.whatbitcoindid.com/podcast/the-role-of-bitcoin-maximalism

Udi Wertheimer is an independent developer and consultant, and an active member of Bitcoin’s Twitterverse. In this interview, we discuss the evolved status and definition of Bitcoin maximalism, what success for Bitcoin means, and how Bitcoiners should interact with crypto investors.

THIS EPISODE’S SPONSORS:
Gemini - https://www.gemini.com/
Cake Wallet - https://cakewallet.com/
BlockFi - https://blockfi.com/peter
Pacific Bitcoin - http://pacificbitcoin.la/
Ledger - https://www.ledger.com/
Compass Mining - https://compassmining.io/
BCB Group - https://hubs.ly/Q011cb730

TIMESTAMPS:
00:00:00 Introduction
00:09:24 Bitcoin’s core strengths and what success for Bitcoin means
00:21:29 The rejection of altcoins
00:30:14 Moral imperative to promote good money; what is a shitcoin?
00:37:50 Building on Bitcoin
00:46:08 Is maximalism a culture war?
00:54:56 The purpose of Bitcoin maximalism
01:05:50 Should Bitcoin be a greater part of the digital economy?
01:17:00 How do we bridge the divide?

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#Bitcoin #Finance #Economics

****

“I don’t know if it relates to the whole block size war thing in 2017, I don’t know if it’s something else, but we changed the focus. The focus is not really on Bitcoin anymore. It’s on all the things that Bitcoin isn’t.”
— Udi Wertheimer

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Nearly 2 years ago I interviewed Udi to discuss Bitcoin, Ethereum and maximalism. He’s an important voice as, whilst being a Bitcoin advocate, Udi also provides valid critical analysis. As the merits and risks of Bitcoin maximalism are again at the forefront, it is valuable to hear his current views. The fundamental issue is whether maximalism is a net positive or negative for #Bitcoin.

The difficulties start with defining maximalism, and what unique utilities of Bitcoin maximalists are to coalesce behind. Is it a movement to protect the technical development of Bitcoin i.e. protecting monetary policy, protecting the protocol?

Or is maximalism a cultural phenomenon predicated on developing a moral framework that seeks to provide refuge from more brutal capitalist behaviours? Does maximalism need to be unrelenting in its dismissal of other developments within crypto for the purposes of protecting green retail investors from scams? When, if ever, does defence need to become attack?

Maximalism has served as a moral check on the development of Bitcoin. Adherents are right to treat manifestations of the status quo with suspicion. However, there is a delicate line to be taken. History is littered with examples of principled movements being radicalized into counter productive factions.

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