Hello, everyone it's @Joetunex and @Josediccus here again, in this video we talked about maximalism in both fiat and crypto. We analyzed the concept of maximalism and why people choose to bank on a sole entity, rather than believe in the idea of diversification.
We first analyzed Fiat maximalism and made reference to people like Warren Buffett and why it seems to be difficult for them to come to terms with the idea that money is evolutionary as it has always been with time.
We came to an agreement that money is meant to change, get better, and be rid of its flaws by constantly changing. We believe that crypto is a betterment of fiat currency, while it's not to replace it, we believe it is only there to make it better. We also analyzed Bitcoin maximalism.
We feel that people who are only pumped up on only BTC do not really understand the intent of Crypto as Satoshi wanted it. We talked about how BTC creates a store of value and lags in other aspects of functionalities. We feel that diversity and liquidity is a property that crypto must possess, hence, the need for alternative coins and projects.
▶️ 3Speak
I don't know for me; diversification is always the best approach. The moment you are 100% in one particular arena, things can get ugly. Look at all the people who put all of their savings into Celsius so they could earn an additional salary... and then look at people in Argentina and Venezuela who were all in on fiat and never diversified into Crypto. I prefer Crypto heavy... but it's a comfort to also spread some insurance around.
Well you're right. However some people don't see it this way. They feel that because fiat is old, we should basically make do with the ills that comes with it. A lot of people will never diversify into another thing other than fiat
Going all in 100% without diversifying is a high risk we shouldn't be taking. I am with you on this, crypto is my preference but we have to diversify otherwise when sh*t blows up it can get very ugly and no one wants to be dealing with ugly stuff.
Yeah, diversification is always key, regardless the market and market conditions!