Bitcoin Maximalists May Soon Be Forced to Accommodate DeFi Coins ⋆ ZyCrypto

Bitcoin maximalists may soon be forced to accommodate DeFi coins




Bitcoin maximalists are a well-known fraction of the cryptocurrency community. These maximalists, mostly whales, are religiously committed to engaging in Bitcoin-related activities: trading, investing, and other similar market activities that are fully centered around Bitcoin. 

The digital currency’s position as the leading and most valued cryptocurrency asset has swayed most of these maximalists who believe that any asset that isn’t Bitcoin is not worth investing in. Many have argued that this standpoint is not as objective as Bitcoin maximalists portray it to be. Altcoiners have especially argued that Bitcoin maximalism stems from elitism.

The asset of choice for maximalists

The first major asset to be created, most valued and adopted, are titles that by themselves can understandably make someone a conservative Bitcoiner. But maximalists have insisted that Bitcoin-worshipping, (the act of showing loyalty for Bitcoin for reasons that are more sentimental than they are objective) is far from what they practice.

By this logic, Bitcoin maximalists are implying that if Bitcoin loses significant value and slumps below other altcoins, the asset would still be as valuable to them. However, seeing as Bitcoin maximalists do not believe that the asset could be second to another, Bitcoin’s superiority may very well be tied to the position it holds.

While the question of the authenticity of Bitcoin maximalists must be left to time, the idea of alternative digital currencies is an enticing market that could interest Bitcoin maximalists to consider giving these assets a try in the long run.




Analysts betting on DeFi coins to do the magic

Decentralized Finance tokens have gained popularity in the crypto-ecosystem. Bitcoin as a limited asset has been amplified by the ever-increasing demand for a diverse set of assets. Assets that offer users multiple use cases in the finance world, while still maintaining a decentralized structure are becoming a need for many people.

DeFi coins are the closest assets that can make decentralized Finance a reality. Since Bitcoin maximalists are also heads of Finance firms that are providing services to individuals who are solely interested in digital currencies for their decentralized nature, DeFi could be a useful service for their customers. When and if demand hits its peak, these institutions may be forced to adopt DeFi coins, all of which still fall under the umbrella of alternative coins.

It is crucial to remember that the above is merely objective speculation that could only potentially become reality as DeFi continues to morph into a more sustainable Industry.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.