Vitalik Buterin: He defends Bitcoin (BTC) and predicts changes

In new content published on his blog, Vitalik Buterin, the creator of Ethereum (ETH), has decided to come to the defense of Bitcoin (BTC). In the article entitled ” In Defense of Bitcoin Maximalism he indicated that no digital asset will be able to benefit from “maximalism” as much as bitcoin (BTC). However, he predicts that this digital asset supremacy could quickly be challenged.

What is Bitcoin Maximalism?

Let’s start with a small explanation of the concept of “Bitcoin maximalism”. The term was first used by Vitalik Buterin. In fact, this concept means only one thing that could be summed up in a single sentence: bitcoin (BTC) is the ultimate cryptocurrency ! For the defenders of this theory, BTC is the only cryptocurrency that will be needed in the future, all the others being destined to disappear.

On the other side are the people who are against the “Bitcoin maximalism” theory. For them, the ideology that BTC will be the only cryptocurrency to exist is unrealizable and unthinkable so much does it deviate from the ideas that Satoshi Nakamoto defended when he invented the digital asset. Because of this, in their view, it will never happen. Vitalik Buterin, however, does not share this opinion. At least, he nuances it.

A ”maximalism” that is not just for Bitcoin (BTC)

For the co-founder of the Ethereum blockchain, there is no doubt that whatever one thinks of the digital asset that is bitcoin (BTC), it remains above all other cryptocurrencies. He goes on to explain that ETH will follow the same growth path than BTC. Even though he believes that BTC is a very important digital asset in the cryptocurrency sphere, Vitalik Buterin argues in his article that “maximalism is not just for bitcoin (BTC)”.

For the creator of Ethereum, although Bitcoin is one of the most important blockchains, it is obvious that if it does not make adjustments to improve its system, it will be done very quickly surpass by other blockchainsespecially Ethereum. He clarified that “Bitcoin Magic” lies in its low technical complexity, but that magic could wear off.

While Ethereum (ETH) is on the verge of integrating new features into its operation and offering better services to its users, Bitcoin (BTC) seems to be losing ground. However, the theory of “Bitcoin Max” won’t it come to fruition? What will happen in the future? Only the future can answer the question.


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Luc Jose Adjinacou

Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.

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