Don’t believe the ‘maximalists’: bitcoin can’t be separated from crypto | Financial Times

The real reason bitcoin maximalists want to separate bitcoin from the rest of crypto is to create the illusion of scarcity in a world where there is none. CoinMarketCap now lists more than 21,000 different crypto tokens, which bitcoin maximalists call “shitcoins”. Of course they do — if there is infinite supply, how can there be any value? This is still the core problem of crypto, and bitcoin cannot solve it.

This is not to say that there aren’t some crypto projects and tokens that are better than others. But a spade, no matter how shiny, is still a spade. And bitcoin, I’m afraid, is still crypto.

Source: Don’t believe the ‘maximalists’: bitcoin can’t be separated from crypto | Financial Times