The creator of the second biggest project in the cryptocurrency industry describes his feelings toward Bitcoin maximalists
In his latest post, Vitalik Buterin outlined his stance towards Bitcoin and the future of the cryptocurrency industry. One of the most influential people in the industry has described the differences between the Bitcoin and Ethereum communities and the industry in general.
One of the main thoughts that Vitalik tried to express through the article was the nature of Bitcoin as a project, which is being inherited by a community around it that seems hostile and overdefensive.
Compared to projects like Ethereum, Cardano or Solana, Bitcoin does not allow the creation of on-chain applications or any type of decentralized solution so widely used on other chains. Thanks to this fact, the number of scams and shady projects related to Bitcoin is exponentially less than that of blockchains that support smart contract technology.
Buterin attached the insider allocation graph that shows how “genuine” Bitcoin is compared to modern chains, even networks like Ethereum. The data shows that Bitcoin is one of few projects with almost no insider allocation, which makes everyone who holds the first cryptocurrency inherently protected from any insider exposure.
Ultimately, Vitalik sums up everything mentioned in the article and states that no other cryptocurrency that exists in the digital asset space today will leverage Bitcoin. Even early altcoins like Litecoin do not have the same level of uniqueness.
As for the toxicity and hostility of the Bitcoin community and its maximalists, Buterin explained that that community is a product of modern social media platforms like Twitter, where crypto projects and enthusiasts are concentrated. The Bitcoin community was and remains more hostile than others because of a number of negative factors.
