Transcript Ep. 412: Eric Wall and Udi Wertheimer on Why Bitcoin Maximalism Is 'Like a Shitcoin Community'

Laura Shin:
Hey, all. Ever since I started covering Bitcoin in 2015, the community has undergone a large shift. This mostly occurred due to the blocksize wars of 2015 through 2017, but the culture of the winning side has undergone an even more dramatic shift since 2017. For the last couple years, Bitcoin maximalism has seemed like the dominant strain of Bitcoin culture, at least in perception and online. This past summer, some prominent Bitcoiners began to speak out against maximalism, and since then, there's been a noticeable uptick in the number of voices denouncing it.

In fact, my two guests today have gone so far as to mock it. Eric Wall and Udi Wertheimer and I originally planned this discussion all the way back in August, but Eric came down sick right before our recording, and because my editorial calendar was full, it seemed like we had missed our moment, but the trend of criticizing Bitcoin maximalism has not died down, and because of Bitcoin's prominence and importance in the overall space, it seemed worth unpacking what happened and where Bitcoin goes from here. Eric and Udi are Bitcoiners but don't feel that believing in Bitcoin requires dunking on every other coin out there. I found their criticisms of Bitcoin maximalism refreshing and interesting and hope that you find them thought provoking as well, and now, onto the show.

Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto seven years ago and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full time. This is the October 25th, 2022, episode of Unchained. Want to know what you missed in the last 24 hours in crypto? Unchained's daily News Bits are now on YouTube, with the biggest headlines in 60 seconds or less. Go to YouTube.com/C/UnchainedPodcast.

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Today's topic is Bitcoin maximalism. Here to discuss are Eric Wall, crypto blogger, and Udi Wertheimer, recovering Bitcoin maxi. Welcome, Eric and Udi.

Udi Wertheimer:

Hey.

Eric Wall:
Thank you, Laura.