So what is a Bitcoin Troll? It’s a question I recetnly asked and got the following reply:
So let’s try and keep this short. It looks like the use of the word Troll lately is to just describe people you don’t like. What originally started out to describe those that would take an on-line conversation off topic or disrupt it (on purpose or otherwise) has no extended to everyone you disagree with. It’s also commonly used to describe people who are asking questions or pointing out problems with projects that you like because it might expose the issues in these projects.
In the case above, this definition seems to look a lot like the definition of a Bitcion Minimalist which is a term credited to Vitalik Buterin for creating. One day we will find out who exactly he was talking about, but right now credit seems to be taken by the hosts of the podcast Bitcoin Uncensored. Recently, I found the following video very enjoyable so thank Tai Zen for taking my name to the top of the list.
So why do all these alternative crypto currency believers hate us so much? Mostly it’s because they feel that we are in their way of getting rich. Let’s assume for the sake of argument that you are a part of a project where the architects are actually working on something revolutionary and not doing it just to get rich for pre-mining or just handing themselves coins on day one. Of course these project are few and far between as both Ethereum and Steemit failed this from the start. (more on that in upcoming posts) The question that you have to ask is, why launch a free floating coin with its own exchange rate? This is a very simple question and when it comes to Bitcoin the answer is also very simple as it was designed to be a peer to peer value transfer. But if your project was not designed for this purpose the only reason to have this feature is to get around current regulation on qualified investors & company share trading so that you can make money by launching the coin.
Another thing us Bitcoin Maximalists try to explain is that in the end all PoW initiatives are in direct competition with each other. (PoS is not even a Blockchain in my opinion and a topic saved for another day) Even if they use different algorithms and hardware, in the end they are still relying on the same burning of energy and decisions made as to which hardware will get the investment. In really just comes down to security that depends on the amount of energy burned. If this energy is being evenly burned between 10 PoW coins, they are all independently 10 times less secure than a single PoW chain would be. In the end there will probably be only one because we only need one. Just like we only have one internet that everything was built on top off. Yes, the internet is not perfect as it could have definitely had more privacy centric measures with better security, but hopefully that this is something that would be corrected this time around with the protocol of value. Taking a position that we only need one PoW public ledger, it now becomes a matter of choosing which one, Bitcoin Maximalists picked their horse, have you?
Bonus: here is an additional video by Tai Zen describing why they have chosen me to be THE Bitcoin Maximalist: