In a recent community poll on Twitter, the founder of Litecoin (LTC) – Charlie Lee – started a war of words with Bitcoin (BTC) extremists. Lee said that some self-proclaimed BTC Maximalists are actually Bitcoin (BTC) Extremists. This word war was started on the 6th of January this year.
In the community Twitter poll, Charlie Lee said, “Some self-proclaimed Bitcoin (BTC) Maximalists are actually Bitcoin Extremists. They think all other digital currencies are a scam and will go to zero. Maximalists think Bitcoin (BTC) is and will remain the most dominant digital currency but there is room for altcoins to exist and even do well.
Who Is a Bitcoin (BTC) Maximalist?
A Bitcoin (BTC) maximalist is one who usually looks down on alternative use cases outside the protocol of Bitcoin (BTC) (either layer-one or other layers that are pegged on the blockchain of Bitcoin for other applications). They are often in support of layer-two or sidechain-type projects, such as the Lightning Network or the Blockstream Liquid network.
Nevertheless, they do not like the protocol of other digital currencies that emerged through Initial Coin Offerings and centralized fundraising, such as Ethereum or Litecoin (LTC).
The Result of the Poll
Charlie Lee claimed that “maximalists believe Bitcoin (BTC) is and will always be the most dominant digital currency, but there is room for other digital currencies to exist and also do better.” In a poll Lee conducted for his followers on Twitter, he asked his followers if they see themselves as either a no-coiner, an altcoin maximalist, a Bitcoin maximalist, or a Bitcoin extremist.
At the time of writing, the total votes cast are 28,478. The poll is closed and that is the total number of votes cast. The option with the highest number of votes is “Bitcoin Maximalist,” with 48 percent of the entire votes cast. The second on the list is “Altcoin Maximalist,” with 33 percent of the total votes cast.
The no-coiners came third on the list with 10 percent of the votes while the last position was held by “Bitcoin Extremist” with 9 percent of the total votes.
After posting the poll on Twitter, Lee got a whole lot of replies. Jameson Lopp – the Chief Technology Officer of casaHODL and a fellow cypherpunk – also commented on Lee’s tweet. Lopp said that Lee should have labeled the term as “Bitcoin Supremacist” because the word extremist has a negative connotation.
Tone Vays also replied the creator of Litecoin (LTC) with his own bombast on extremism. Vays said that “shitcoiners will now change the narrative of the language to call those that are speaking sense about digital currency, tech, economics, and money Bitcoin extremists. The reason is that the word maximalist isn’t visceral enough to demonize.
It appears that the debate will linger in the crypto space for quite some time, as Charlie Lee said that Bitcoin Maximalism and Bitcoin extremism will be talked about in the next episode of the “magical digital currency friends podcast.”
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin (BTC) is still trading within a range. The digital currency is currently trading at $4,034 after an increase of about one percent over the past twenty-four hours. Bitcoin (BTC) currently has a market cap of $69.80 billion and a trading volume of $3.39 billion over the past twenty-four hours.