U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Bitcoin (BTC) Maximalists in 2020 Are Narrow-Minded: BeatzCoin CCO

News
Sat, 02/15/2020 - 11:57
Yuri Molchan
The CCO of BeatzCoin, Misha Lederman, rebukes Bitcoin maximalists, saying they are so focused on BTC that they are failing to see the progress in the crypto sphere
Cover image via twitter.com
Contents
Put your crypto to work
10
BTC
  • $68.96

    Interest per week

  • $3585.7

    Interest per year

  • 4.15%

    Interest rate

Join Now!
Sponsored by Celsius.Network

Misha Lederman, a prominent Tron supporter and the BeatzCoin CCO, has taken to Twitter to criticize Bitcoin maximalists.

Being one in 2020, he says, is believing that since the Bitcoin release back in 2009 the progress in the crypto industry has stopped and nothing better has been invented ever since.

‘You cannot build dApps on Bitcoin’

He compares Bitcoin maximalists to people who at the very start of the Internet believed that emails were the best thing the Web could offer, taking this belief into 2020.

You cannot build dApps on Bitcoin, Lederman points out, but third generation blockchains allow you to do that. As a Tron supporter, he speaks of numerous innovative projects that are being developed on the Tron network at the moment. He tweets:

“Being a #Bitcoin maximalist in 2020 is the equivalent of being convinced emails are still the only use case of the internet.

Countless innovative & disruptive projects are being built & scaled on #TRON & other 3rd gen blockchains.

#BTC can't host dapps, 3rd gen blockchains can.”

Related
Bitcoin Is Too Slow for Mainstream Payments: Federal Reserve Bank of Cleveland

Bitcoin is a store of value

Major investors and billionaires consider Bitcoin to be a store of value and a tool to hedge financial risks. Among Bitcoin permabulls are Mike Novogratz, Tim Draper, Fundstrat’s Tom Lee, the Winklevoss twins, etc.

They do not look at the technological background but only at the way Bitcoin behaves on the market and what returns on investments it can offer, comparing it to gold.

Mike Novogratz calls BTC and its value a ‘social construct’.

Since February 9, Bitcoin has been trading above the crucial $10,000 level. Many in the community believe that a bull market has started for BTC and the price will keep heading North.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
Bitcoin SV (BSV) Miners Flock to BTC After Botched Halving as BCH Hashrate Tanks
Bitcoin (BTC) Ponzi Schemes Take Massive Hit During COVID-19 Pandemic, but You Have to Watch Out for These Scams
Trump Voices Support for $50 Bln Airline Bailout: 'It Is What It Is'