I should probably start off by saying I like Max, and I've been following his misadventures for years. Yes, he's a character that loves hyperbole, but there's no denying his intelligence. He was one of the early voices that saw the value in BTC, and he's been a permabull since.

But...

On this point, I strongly disagree. Why? well, because I think that even though he's probably mostly correct, the part he is incorrect about is just as important.

BTC Maximalism

The idea that we only need BTC can be somewhat compelling if you just take in all the arguments made by the prominent voices of the space. Yes, it's the safest network, yes it's got the name recognition, yes, It's survived all the bear markets, it's the zombie of crypto. But, does actually mean it should sit on a throne with no subjects, a Kingdom of no servants. (Ok, I'm being silly).

The point is this: Regardless of the idea of what BTC was supposed to be, it's surely transforming itself into something akin to GOLD. Yes, this may anger those that won't let go the times CASH is mentioned on the whitepaper, but it doesn't matter. In other words, just because a minority of people want it to be THE CASH, it doesn't mean it will be.

And listen, if someone like Richard Heart can let go his maximalist ways, then there's hope for everyone. This is not me saying that some people won't use BTC as cash, I'm sure some will, but just that most won't... plain and simple.

Shitcoins are real

And these will surely die off. The truth is that just like the .com bubble, 99% of the projects in crypto won't exist in a few years. Now, which ones will die, which ones will succeed, nobody truly knows, but If I had to make an educated guess, I would stick to the blockchains that people actually use.

I often refer to the .com bubble, and the way that the winners peeled off the rest of the bunch. I mean, let's not forget, amazon not only survived the burst, it took over the world, and this is precisely the lesson we can't fail to learn.

But, if BTC is the Amazon equivalent of today's new tech wave, then who are the ebays, the googles, the facebooks? Do you see where I'm going with this. The truth is that there is space for other projects to not just survive, but flourish. But again, they have to be useful, they need to have not just a good idea, but a community of users who is willing to stick around. Now that sounds familiar...

Conclusion

Max is right, we might see an extinction event very soon, maybe this altseason won't be like the last, Who knows? The truth is that last time, any halfway cooked ETH ICO would moon for absolutely no reason, and I don't think this altseason will be anything like that.

But again, BTC is not the only use for blockchain, not by a longshot, and I'm willing to bet that the altseason we've all been waiting for, is actually right around the corner.

Remember, money is always transferred from the impatient, to the patient ones...

MenO