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In this installment of Hashing It Out, recorded just before Bitcoin 2023 in Miami, Cointelegraph’s Elisha Owusu Akyaw engaged with Cointelegraph journalist Joe Hall to discuss the implications of being a Bitcoin (BTC) advocate and the present condition of the Bitcoin network. Their conversation covered topics such as Bitcoin maximalism, living according to the Bitcoin standard, Bitcoin Ordinals, BRC-20 tokens, and the BTC price.
Hall’s initial encounter with Bitcoin occurred through online purchases. He found the first cryptocurrency challenging to use at that time, but his perspective shifted in the subsequent years. Hall recounts that certain personal experiences allowed him to dedicate time to thorough research on Bitcoin during the COVID-19 pandemic. This investigation transformed his viewpoint and helped him understand Bitcoin’s revolutionary potential for global finance.
Throughout the years, the Bitcoin community has developed to encompass various philosophies aimed at defining Bitcoin’s role within the wider cryptocurrency landscape and illustrating how some members of the community view Bitcoin. Hall emphasizes this by noting the rise of diverse labels, with individuals identifying as Bitcoin purists, minimalists, moderates, and maximalists. He contends that while labels can foster a toxic atmosphere, there are valid reasons for their existence and frequent usage.
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Hall describes a Bitcoin maximalist as an individual striving to derive the maximum benefit from Bitcoin and enhance its influence while exclusively holding and utilizing Bitcoin, without engaging with other cryptocurrencies. He also mentions that due to his profession, he utilizes other crypto-related platforms solely for experimental purposes.
Additionally, Hall shares his experiences of living on the Bitcoin standard over recent years. He states that it is simpler to live using Bitcoin than the British pound, as BTC is accepted by more vendors in various locations compared to the pound. Nevertheless, he also points out challenges, such as tax payments and price volatility, which he believes can sometimes be advantageous.
Related: Account abstraction could bring the next billion users to Ethereum — Ambire CEO
Listen to the latest episode of Hashing It Out featuring Joe Hall on Apple Podcasts, Spotify, Google Podcasts, or TuneIn. For additional informative podcasts, visit the Cointelegraph Podcasts page.
