Every sphere of life has numerous numbers of products associated. Some of the products are physical while others can be in the form of not so in their physical terms but surely in the digital format. People like these items and support their hearts full. Now, as time has changed and people spend more time on digital platforms rather to be in the original world. People have their benefits now more prioritized towards digital content and one of the most useful items of the digital world is none other than cryptocurrencies themselves. Those who are willing to take on the risks may be rewarded with profits if the market goes up so for investing in cryptos check this App.
Due to the increase in popularity and more exposure to the internet, people now have more access to digital networks and thus cryptocurrencies. People have become die-hard fans of bitcoin and the common term being used for them to be bitcoin maximalists. In this article, we are going to discuss these bitcoin maximalists.
Holding on for dear life
Commonly referred to as HODL, is a technique of holding bitcoin for a long time. The belief of a maximalist is towards the unexpected growth of bitcoin. According to them, bitcoin is going to be of so much worth that all the previous records related to its value are broken. They also believe that bitcoin is going to erase all the common methods of payments including the fiat and cashless methods present today.
The option for cashless payments are debit cards and credit cards and the development of bitcoin was also done on a cashless pattern. The expectations of a bitcoin maximalist are quite high and this is leading to a new way of investment and many more. The common investment strategy used by these maximalists is HODL. this involves continuously averaging the buy-ins of the crypto market. The holdings are for indefinite periods and there comes no time when the holdings are sold. As far as the popularity of bitcoin gets increased the customers who have invested in the HODL strategy will benefit from it.
The motivation behind bitcoin maximalists
The bitcoin maximalists are not influenced by mere profits. According to them, bitcoin is the ultimate invention of their life and nothing in comparison can be again developed in their lifetime. They believe that the inventors who decided to change the digital and fiat currency through this invention are the real champions and there is no other in comparison to these people. They have full support for bitcoin in the lowest as well as in the inflation periods and are thus acting like pillars to it.
An anonymous identity with only a name in the field of bitcoin. The real background of this name is still unknown and there were many efforts done in the past regarding the same but everything resulted in the mystery getting more complex than before. To date, no one knows the exact identity of Nakamoto. Nowadays, bitcoin has developed itself as a legal tender in some of the major countries of commerce and trade. Many countries are in the pipeline of making it a legal tender.
Why bitcoin maximalists came into existence?
Now the question arises of where this concept got introduced. The answer to this question is that with the introduction of various smart applications and contracts in the form of smart contracts, people started exploring new and possible features of blockchain. With the advance in time, now bitcoin has emerged as a powerful entity, and every e-commerce site supporting cashless transaction can also add it as a means of payment with some clearances to follow. Thus, bitcoin maximalists are creating a positive environment for both beginners and as a well as for experts in this field.