Fri, March 29, 2024

Litecoin Founder Debate over “Bitcoin Extremist” Tweet

litecoin

Litecoin founder Charlie Lee has triggered community debate with a tweet alleging that “some self-proclaimed Bitcoin Maximalists are actually Bitcoin Extremist.”

“Some self-proclaimed Bitcoin Maximalists are actually Bitcoin Extremists. They think all other coins are scams and will go to zero. Maximalists think Bitcoin will remain the dominant cryptocurrency but there is room for altcoins to exist and even do well,” argued Lee on his January 6 post.

Lee also started a Twitter survey, which has drawn more than 24,300 votes as of the time of writing and is due to expire in 6 hours, inviting users to identify as either a “Bitcoin Extremist,” “Bitcoin Maximalist,” “Altcoin Maximalist,” or “Nocoiner.”

As of the time of writing, 9 percent have identified as bitcoin “extremists,” 48 percent as bitcoin “maximalists,” 32 percent as altcoin “maximalists,” and 11 percent a “nocoiners.”

Lee’s remarks spurred a series of quick-witted responses, both dissenting and assenting, including one from crypto industry figure Jameson Lopp, who said “Bitcoin Supremacists, please. Extremists have a negative connotation,” adding “I identify as a Segregated Witness.”

Interested in Trading Bitcoin or Litecoin? Read WiBestBroker’s comprehensive review on ROinvesting.

Mindful of Lee’s provocation, Ragnar Lifthrasir, who is the founder of the International Blockchain Real Estate Association (IBREA), said to Lee that he was on “the path to wrong-think,” and that using the jargon of extremism was little more than a smear of anyone whose “opinion differs from Charlie’s.”

Lee’s comments also triggered debates over whether bitcoin “maximalism” is little more than a marketing term allegedly coined by altcoin founders, as well as over bitcoin’s prevailing brand dominance. Some commentators responded – without actually declaring any allegiances – that ultimately it will be the free market and tangible use cases that will separate the successful projects in a sector of proliferating cryptocurrencies.

closeup shot of litecoin physical coin concept

As of the time of writing, the share of bitcoin’s market capitalization in the overall cryptocurrency market cap is at 51.8 percent, according to data.

On the cusp of the New Year, tokenization protocol Stellar’s co-founder and CTO Jeb McCaleb – who was also among the founders of the now-defunct Japanese bitcoin exchange Mt. Gox, as well as a co-founder of Ripple – provocatively claimed that “ninety percent of crypto projects are B.S.,” adding that he was “looking forward to that changing” in 2019.

McCaleb excluded Ethereum, Bitcoin, Stellar Lumes, and presumably XRP from his criticisms.

YOU MAY ALSO LIKE

Ford

Quick Look: CVA Family Office LLC snaps up 4,559 shares of Ford

The government aspires to make Portugal Europe's top producer of prime lithium for electric car batteries.

Quick Look: Atlas Lithium signs investment and offtake agreements with Mitsui. Mitsui

Stocks and various factors, Baltimore

Quick Look: The Francis Scott Key Bridge in Baltimore collapsed after a

COMMENTS

Comments are closed.

BROKER NEWS

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex in