Tidbits summarizes interesting chatter from across the cryptosphere. Today, the crypto community reacts to Erik Voorhees’s argument that maximalism is a flawed ideology. Jonathan Silverblood recommends using the bear market as an opportunity to build while earning crypto and Craig Wright claims he owns more BTC than anyone else in the world. 

Also read: Judge Denies Craig Wright’s Motion to Dismiss Billion-Dollar Bitcoin Lawsuit  

Crypto Community Responds to Erik Voorhees

Shapeshift CEO Erik Voorhees recently took to social media to point out the inherent flaw of the Bitcoin maximalist mindset.

Voorhees also explained that open markets have always led to situations where there are multiple solutions, so altcoins will continue to exist in the cryptocurrency space. In response, one commentator brought up TCP/IP as a monopoly in an open market, but Voorhees argued that there are many other popular internet protocols like VOIP, SMTP, and http.

Director of research at Tierion and Bitcoin developer Paul Sztorc had an interesting take on the debate Voorhees stirred up. Sztorc brought up scholar Nassim Nicholas Taleb’s observation that almost all drinks are kosher in the United States, even though the kosher population represents less than three tenths of a percent of the residents. Drawing upon the dictatorship of the intolerant minority concept, Sztorc argued that the most intolerant cryptocurrency community will end up producing the most widely used coin.

Using the Bear Market Bottom as an Opportunity

Bitcoin Unlimited developer Jonathan Silverblood recently urged his followers on social media to use the bottom of a bear market as an opportunity to help rebuild. Silverblood argued that builders will be able to profit financially while helping the crypto industry to recover from the bear market.

Silverblood went on to recommend sites like honest.cash, bitbacker.io and cash.gateway for builders to get started.

Craig Wright Claims He Owns the Most BTC

Nchain chief scientist Craig Wright raised eyebrows on social media recently when he claimed to own the largest BTC bags in the entire world. Wright also predicted that BTC prices will fall to zero.

A commentator asked Wright to dump his BTC onto the open market, but Wright refused to do so because it would be illegal under commodities trading laws. Another commentator asked Wright to spend his BTC instead, but Wright claimed that he currently has too many possessions.

What do you think of Wright’s self-proclaimed title as largest BTC holder? Let us know in the comments below.

Images courtesy of Shutterstock.

Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.  


Source link