Ethereum ETH/USD co-founder Vitalik Buterin defended Bitcoin BTC/USD maximalists in an unexpected blog post about why this Ethereum-hating community gets it right more often than many realize.
What happened: Buterin found himself defending Bitcoin maximalists — most of whom disapprove of him and his creation, Ethereum — and explaining how many of their ideas make more sense than many believe, in a Friday blog post. Publish.
Buterin asks, “what if Bitcoin was much more than an obsolete pet linked to a network effect?” He explains that its characteristics make it the best bet to fight for independence and freedom from government control. Buterin even goes so far as to claim that signature intolerance of other cryptocurrencies (which they often call sh*tcoins) “is actually necessary to prevent the former from sliding into ‘what he calls’ rogue cryptocurrencies”.
Buterin explains that Putin’s recent invasion of Ukraine shows that “we live in a dangerous world, where there are many bad faith actors who do not listen to compassion and reason”. In such a world, blockchain technology – and Bitcoin – is a tool that sacrifices performance, efficiency, functionality, and cost-effectiveness to serve its users reliably even in the most extreme situations.
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The Ethereum co-founder admitted that Bitcoin is particularly committed to promoting reliability at all costs, with its low one-megabyte block size, 21 million coin limit, and what he described as a ” simple Nakamoto consensus proof-of-work mechanism that even a high school student can understand.”
He said, “The design of the protocol should be easy to justify decades and centuries later; technology and settings choices should be a work of art.”
Another component pointed out by Buterin is that of Bitcoin “culture uncompromising and unwavering minimalism.” Such a culture must “defend itself unyieldingly against corporate and government actors” and “bad actors inside the crypto space.”
Buterin suggested that Bitcoin culture includes people “taking pictures with an AR15 and an ax as a side hobby” rather than “caring about being everyone’s friend.”
He concluded, “It’s better to offend millions by aggressively defending what you believe in than trying to keep everyone happy and ending up defending nothing.”
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