Category Archives: Bitcoin

Cryptocurrency Maximalism The Good The Bad And The Ugly

What is a cryptocurrency maximalist?

A cryptocurrency maximalist is someone who believes that their chosen currency or coin is the only one worth caring about.

The checking of the top helium miner 2021 available at the online platform is essential. The choosing of the right currency and coins will become easy and simple for the people. There is a need to get the good and bad details about them to have the best experience. 

The social media of choice for said maximalists is often Twitter, although they are known to inhabit other social media platforms. They will write regular ‘tweets’ about their chosen coin and will comment on other peoples’ tweets about their coin and other ‘lesser’ coins.

The Good

Maximalists are often passionate people and a maximalist will usually post regularly, which can be beneficial to some. For example, many maximalists will actually post important news about developments of their chosen currency and those who have significant followings can influence others to invest in their coin too; sometimes even causing a small increase in price.

Additionally, some maximalists invest a significant amount of time into researching their chosen coin and are able to educate newcomers to the cryptocurrency space about the coin; why it is useful, why it is of value and why others should be paying attention to it. A maximalist can provide a lot of good to the cryptocurrency community, being an educator, a spreader of news and an overall positive impact to people’s lives.

The Bad

Whilst the above can often be positive, what a maximalist says may need to be taken with a ‘pinch of salt’.

Yes, a maximalist could post educational content, but who is to say that this content is 100% correct? A few maximalists are intelligent people who generally post very informative content, see Galgitron for an example of someone I would personally call a maximalist in a positive sense – he doesn’t generally post sensational content and never pushes people to buy his favoured currency. However, many maximalists aren’t Harvard scientists with PhD’s and incredible intellects. Many will not fact check all of the content they share or write about and can often mislead the general public who follow them, leading to the false sharing of misinformation which can be damaging to a cryptocurrency project.

Additionally, many maximalists will post almost daily if not weekly about ‘100 ……. coin will be life changing in two years’ or ‘Ignore the haters, …… will be worth $….. By 2022’ and whilst it is relatively harmless in most cases, some people who are new to the cryptocurrency space can get wrapped up in the ‘hopium’ which these maximalists deal them. There is no doubt that some people have put good amounts of money into coins, believing they will be a millionaire tomorrow, only to be sorely disappointed.

The Ugly

The most damaging situation is one which occurs often on Twitter. This is when two maximalists for different coins come to a disagreement in the wild.

On some rare occasions, the maximalists can be polite to each other and even have an educational debate which ends in mutual respect and an accepted ‘let’s agree to disagree’ pact. But make no mistake, the majority of maximalist arguments are damaging to the community. Some of the most furious debates are between the Bitcoin and XRP maximalists and these arguments often gain significant exposure. Lots of other twitter personalities get dragged into the argument and usually they are full of rude and aggressive comments.

No one ever wins, everyone loses. Instead of spreading positive news throughout the community which attracts newcomers, potential purchasers of a cryptocurrency see these maximalist arguments and are instantly put off investing in said coins. The negative impact from these arguments is for two-fold reasons;

False or negative news or FUD is often quoted in these arguments which the newcomer could believe or be fearful of, causing them to avoid investment in said coin.

The newcomer sees the specific cryptocurrency communities which said maximalists belong to as immature spaces or worse; as full of indoctrinated people who have ‘drank the kool-aid’ so to speak. It makes each cryptocurrency seem like a scam or pyramid scheme which the maximalists and their loyal followers have been fooled into believing in.

The conclusion here is when researching and investing in cryptocurrencies, feel free to follow some maximalists and feel free to be fond of specific coins yourself. But, always diversify and always be open-minded to other projects with other use cases.

Bitcoin- What Are The Characteristics Of A Bitcoin?

Bitcoin is a digital form of currency that can only be accessed via online services. The prices of the bitcoin fluctuate daily, so you need to be active socially in order to know about it. If you want to make a profit out of it, then you should purchase the coin at lower rates and sell it at higher rates. This is the best way in which you can make profits. It is one of the safest ways of trading only if you work on the security of it. Hackers can easily steal your coin from your system, but not if you use the wallets for it. You can read this post here by which you can come to know about the benefits of using bitcoin.

Here are the characteristics for you-

  • Fast in the process- It is much faster as compared to other things like a credit card. In the card system, sometimes you have to wait for the transaction. On the other hand, it is not as same in bitcoins. Your transaction will be done in a single click. 
  • No records- None of your names or any kind of personal details will be kept with the website. Everything will be done anonymously so that no one can come to know about you. This is one of the best characteristics you can get to have in bitcoin.
  • No involvement- There will be no one involved in the transaction or the trading of a coin as you would be the only one to do that. You will get the coin directly, and you will be the only one to sell it.
  • Cannot get back- If you got a bitcoin, then the seller cannot get the coin back unless you grant them the permission. In this way, no one can make a false claim on you to get the coin back after selling.

Bitcoin Trading – Methods to Earn a Formidable Income!!!

Bitcoin is one of the great peers to peer systems.  So many investors are out there that are investing money in the Bitcoin. They are turning thousands of dollars into the millions. It is considered reliable than currency. Therefore, if you are a new investor, then it is your responsibility to set up an E-wallet account that will enable you to transfer the Bitcoins to recipients’ accounts with ease. Make sure that you are considering wallet software according to the requirements. One always has to consider a secure account. 

If you want to buy Bitcoin, then you will have to deal with a digital currency broker. Make sure that you are considering a genuine exchange where one can easily buy Bitcoin. All you need to pay a specific broker fee to the investor. Here are some reliable methods that will able to earn a formidable income from the Bitcoin.

  • Find out reputed Bitcoin company

It is highly recommended that you should always opt for a certified and reputed exchange that will able to offer high returns. If you are earning 1% each day, then it can be a high return in the industry.  It would be quite difficult to earn 10% on a regular basis. Make sure that you are paying close attention to the genuine Bitcoin exchange that will able to offer reasonable returns like 1% day. There are some fake sources out there that are offering unrealistic returns to the users. If you want to know regarding the best Bitcoin exchanges, then one should check over here.

  • ROI

In order to improve the ROI, then one must opt for a genuine exchange where you will able to buy the Bitcoin at a perfect time.

Moving Further, if possible, then one should make the use of bots that will surely help you in earning money.

Legalisation Of Bitcoin In Countries

People often ask that why Bitcoin is not used widely across the globe. Despite having so many positive sides,Bitcoin Evolution is still struggling to be an alternative of conventional currency. With the waves of digitalisation one by one, it is assumed that one day Bitcoin will also be one of the popular mode of transaction for many people as there is no hassle of managing hard cash, no limit of exchange, no bar for time and place and no problem with the accessibility.

Talking about the countries, it should be said that Bitcoin can’t be used all over the world. It has several restrictions. After the invention of Bitcoin, many countries have nodded yes for the citizens to have ownerships of Bitcoin, but many countries rejected that offer and preferred to keep their countries away from this new digital currency. For them, the anonymity and the public accessibility is not a safe option. According to them, many illegal transactions will be processed after the legalisation of Bitcoin. The computer generated process of mining to confirm the transaction and generating coins don’t seem safe to them. On the other hand, some countries believe in giving the citizens the complete control on their money and prevent any interference of any centralised organisation.

Countries who said YES to Bitcoin are:

  • The United States of America
  • Canada
  • Australia
  • The European Union including Finland, Belgium, United Kingdom, Germany, Bulgaria, Cyprus etc.

Countries who said NO to Bitcoin are:

  • China
  • Russia
  • Bolivia
  • Columbia
  • Vietnam
  • Ecuador

Although Bitcoin is 10 years old, the trust factor is still not at the place where it was expected to be. One of the main reasons behind it is the incomplete development of the technology. Bitcoin is a Beta version. The future may be different when the entire process will be completed. Let’s see.