A Newbie’s Perspective on Toxic Bitcoin Maximalism
thebrokenruler.substack.com
I was inspired last week after I read Tomer Stolight’s piece, “Bitcoiners are not Toxic – They Have Integrity” (https://tomerstrolight.medium.com/bitcoiners-are-not-toxic-they-have-integrity-bd866d2773e9). For context, I read it a few days after Nic Carter’s “situation” really exploded on Twitter, and the article really resonated with me. To be clear, I have a great deal of respect for Nic and all the good work he’s done for the Bitcoin community, especially the work he’s done to debunk all the energy FUD out there. Like him or hate him, he really is one of the most important voices Bitcoin has in the energy/mining space. Over the past few weeks, he’s been taking it on the chin from many people in the community for his investments in “blockchain” and “crypto” companies through his venture capital investment firm, Castle Island. In his defense, he’s been very transparent about his investments in these projects, talking about them quite openly on his podcast, “On the Brink” for at least a year. In retaliation to the criticism, Nic has written a few articles and appeared on a few podcasts where he’s punched back at the critics, calling out a vocal group in the Bitcoin space known as “Toxic Bitcoin Maximalists”, aka. the toxic maxis. I don’t have to go over exactly what was said about him or what he said back, but the whole thing has gotten pretty ugly. In this humble pleb’s opinion, it feels childish. It might be a symptom of the bear market that people in Bitcoin are turning on each other, or maybe it’s the Bitcoin immune system doing its job.
A Newbie’s Perspective on Toxic Bitcoin Maximalism
A Newbie’s Perspective on Toxic Bitcoin…
A Newbie’s Perspective on Toxic Bitcoin Maximalism
I was inspired last week after I read Tomer Stolight’s piece, “Bitcoiners are not Toxic – They Have Integrity” (https://tomerstrolight.medium.com/bitcoiners-are-not-toxic-they-have-integrity-bd866d2773e9). For context, I read it a few days after Nic Carter’s “situation” really exploded on Twitter, and the article really resonated with me. To be clear, I have a great deal of respect for Nic and all the good work he’s done for the Bitcoin community, especially the work he’s done to debunk all the energy FUD out there. Like him or hate him, he really is one of the most important voices Bitcoin has in the energy/mining space. Over the past few weeks, he’s been taking it on the chin from many people in the community for his investments in “blockchain” and “crypto” companies through his venture capital investment firm, Castle Island. In his defense, he’s been very transparent about his investments in these projects, talking about them quite openly on his podcast, “On the Brink” for at least a year. In retaliation to the criticism, Nic has written a few articles and appeared on a few podcasts where he’s punched back at the critics, calling out a vocal group in the Bitcoin space known as “Toxic Bitcoin Maximalists”, aka. the toxic maxis. I don’t have to go over exactly what was said about him or what he said back, but the whole thing has gotten pretty ugly. In this humble pleb’s opinion, it feels childish. It might be a symptom of the bear market that people in Bitcoin are turning on each other, or maybe it’s the Bitcoin immune system doing its job.