Two Minute Crypto – Key Concepts 12 -What is Bitcoin Maximalism?

Please click the link below to listen to the 58th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Consider dropping a like and or a review on iTunes or Podbean if you enjoy the podcast. Comments and critiques welcome.



External Podcast Links

https://podcasts.apple.com/au/podcast/two-minute-crypto-key-concepts-12-what-is-bitcoin-maximalism/id1441492450?i=1000453606089

or

https://www.podbean.com/eu/pb-ac5k8-c35e05


Transcript

Key Concepts 12 -What is Bitcoin Maximalism?

Welcome to Two Minute Crypto. Today’s instalment seeks
to shed some light on Bitcoin Maximalism. What follows is neither an
endorsement nor a repudiation but simply a description.

The term ‘Bitcoin Maximalism’ dates to December 2014 and was originally
used as a pejorative term by Vitalik Buterin, one of the co-founders of
Ethereum to describe Michael Goldstein, President of the
Satoshi Nakamoto Institute. Vitalik’s intent was to highlight what he viewed as
an unreasonably blinkered view of Bitcoin as the only true implementation of
crypto with all other projects essentially being scams.

Over time, hardcore BTC adherents have taken on the term as a badge of honour – proudly and loudly declaring themselves BTC Maximalists. In essence, this viewpoint states that: Bitcoin and only Bitcoin is a true expression of a decentralized cryptocurrency – all other chains being doomed to eventual failure and irrelevance. In addition, and perhaps more importantly, Bitcoin Maximalists believe that BTC is destined to overturn and replace the current legacy financial system.  This goes far beyond simply a store of value and ultimately sees BTC as the sole global reserve currency.

Bitcoin Maximalists, in general, see it as a duty to seek-out
and call-out other blockchain projects, labelling them either as outright scams
or as wasted efforts. They decry any development time poured into other chains
and posit that BTC, in time, will simply absorb and implement each and every
short-term advantage a competing crypto may seem to offer.

Some noted BTC Maximalists are Saifedean Ammous author of the
Bitcoin Standard, Tone Vays a former vice president of JP Morgan Chase, and Max
Kaiser another former Wall Streeter and early BTC evangelist. Murad Mahmudov,
Jimmy Song, Trace Meyer, Michael Goldstein, Francis Pouliot, and Stephen Livera
round-out the list of high-profile and profoundly unapologetic BTC Maximalists.

As I outlined in episode 23, I personally don’t adhere to a there can be only one perspective – however, I do believe that Bitcoin is leaps and bounds ahead of the competition in terms of decentralization, brand awareness, market penetration, and future potential investment return.

In any case, BTC Maximalism remains a highly significant narrative in the current crypto landscape. To date, it has shown no evidence of abating helped no doubt by the underwhelming performance of its peers over the last 18 months or so.

Thanks for listening

Energy Analysis Report 10/14/19 – Heating Oil…Meet Biodiesel

When I think of Northeast Winter, I think of heating oil.  Growing up in the projects of New York City, each building had these big boilers ground and every so often I would see a tanker truck refilling the boiler.  As I got older finally realized the black plume of smoke I use to see, it was the combustion of the heating oil in the boiler as it was producing steam for heat and hot water.

NOTE: I grew up right there on the Lower East Side of Manhattan.

Now the Northeast heating oil industry is start to put pressure on the state in the New England regional to mandate biodiesel content in home heating oil in an effort to carbon emissions.   This should be an easy victory for the Industry as because a lot of the heating oil used in New England already contains some biodiesel, but its use is not required in every state.

And across the country, they are encouraging Seattle residents to switch to cleaner heating system by implementing a new tax on the sale of home heating oil to the tune of $0.24 / gallon starting 9/1/20.

Heating oil is a petroleum product refined from crude oil. Heating oil and diesel fuel are closely related products called distillates.  Distillation is the process of separating the components or substances from a liquid mixture by using selective boiling and condensation.  I studied chemical engineering in college and can appreciate the massive refiners out there.

Image result for refiners

Refiners who produce heating oil often make decisions about how much to produce based on the price they are paying for crude oil. However, buying your heating oil during the summer months is usually a better bet because prices tend to drop based on the lack of demand.

As the winter approaching, what can homeowners expect to pay for the price of heating oil, lets go to the charts to find out?

Monthly Chart (Curve Time Frame) – monthly supply is at $2.4560 and monthly demand is at $1.6000.

Weekly Chart (Trend Time Frame) – the trend is sideways.

Daily Chart (Entry Time Frame) – the chart suggests to play the extremes, wait for price to get to the daily supply or daily demand before considering a trade set-up

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Liberland news

The founder of Association for the Promotion of Peace Princess Herta Margarete Habsburg-Lothringen with President of Free Republic of Liberland during the Annual Habsburg Reception Flames of Peace.