Are you a Bitcoin Capitalist or a Bitcoin Socialist?

Chris Dev

March 24, 2019

Yesterday, I wrote about why I was dedicating my time to the MWC project and one of my followers decided to unfollow me. On twitter people follow and unfollow you all the time so normally it would not be a big deal and I’d just assume that this person was looking for different content, but in this case, that follower was a prominent Bitcoin Maximalist who is followed by @jack and he replied to my tweet about yesterday’s story with the following tweet:

So, it’s clear that he doesn’t like the fact that I’m working on MWC which is a fork of the grin codebase with a limited supply and a free airdrop to Bitcoin holders who register their coins. So, since I know many Bitcoin Maximalists (by the way I consider myself a Bitcoin Maximalist as well) like Grin, I figured I’d search his history and see what he has to say about Grin. I found this tweet (among others):

So, why is it that prominent Bitcoin Maximalists like Grin, but don’t like the idea of a Grin fork that is airdropped to Bitcoin holders? To me, that is totally antithetical to the idea of Bitcoin Maximalism. As a Bitcoin Maximalist, I want to maximize the value for Bitcoin holders. So why not support a fork of Grin as a crypto-dividend as opposed to something like Grin which doesn’t reward Bitcoin holders at all?

Although he didn’t give a reason, I suspect he might mention that MWC has a Development/PR fund, which is very common for almost all of the Bitcoin airdrops and forks and even Beam and Zcash among others. I understand that a fund like this has its upsides and downsides, but we wouldn’t have been able to attract most of the people putting in many hours without having some sort of way for them to be compensated for their work. VCs have investedhundreds of millions of dollars in Grin mining hardware. Are they paying anyone to work on Grin? I would expect they are. So, I guess the answer is that if you don’t have a deep pocketed VC billionaire supporting you, you’re not allowed to try to innovate in this space? That really doesn’t sound like capitalism to me and this gang of twitter influencers who shout down anyone competing with one of their preferred alt-coins is stifling innovation. Bitcoin’s roots are in the cypherpunk movement, crypto-anarchy and anarcho-capitalism and that means experimentation should be encouraged and that profits are good.

Even if you are not sure that Mimblewimble is something that Bitcoin will adopt, it should still be tested out and is already going to be. That’s how innovation happens and that’s exactly what we’re doing with MWC. So, I’m going to coin a new term: “Bitcoin Socialists”. The supposed Bitcoin Maximalists who don’t want anyone to experiment with new parameters or perhaps, God forbid, make a profit are really Bitcoin Socialists.

So, what are you? A Bitcoin Capitalist or a Bitcoin Socialist? If you like the idea of rewarding Bitcoin holders and want to experiment with a technology that will end up in Bitcoin one day, in one form or another you should consider registering for our free airdrop to Bitcoin holders of a Grin fork with limited supply. Our registration opens on April 20, 2019. You can follow us on Twitter or join our Discord.