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Following, both the cryptocurrency and domain market, I often come across similar behaviors that can be described as "maximalist."
max·i·mal·ist
/ˈmaksəmələst/
noun
In the crypto market there are "Bitcoin maximalist's" and in the domain market there are ".com maximalist's."
Both Bitcoin and .com are similar in that they were the first to create a market. They changed the system, they were revolutionary. They established something new and desirable. They hold that history.
Does that mean nothing can come and contend? Can anything come and share a piece of the total market pie? Can anything else come and grow the total market cap? Can anything else contribute new attributes to an existing market?
In crypto there are many other currencies trying to compete for market share. In domains the same holds true. If history tells us anything, it's that nothing stays stagnant. Change comes and when it does it catches many by surprise, even some of the best.
1989: “We will never make a 32-bit operating system.” — Bill Gates, co-founder and chairman of Microsoft.
1992: “The idea of a personal communicator in every pocket is a “pipe dream driven by greed.” — Andy Grove, then CEO of Intel.
2003: “The subscription model of buying music is bankrupt. I think you could make available the Second Coming in a subscription model, and it might not be successful.” — Steve Jobs, in Rolling Stone
2007: “There’s no chance that the iPhone is going to get any significant market share.” — Steve Ballmer, Microsoft CEO.
One of the larger problems that face the cryptocurrency market is mainstream adoption. Currently its estimated that only about 50 million crypto addresses exist. Exact users are hard to put a number on. With domains, very few understand the values, such as trust, that a good domain can give. Most people don't consider a domain as a digital asset. In both cases (domains & crypto) "Maximalist" behaviors hurt and slow adoption of the true potentials. Maximalist's confuse new consumers, instead of educating them on all attributes available. Confusion slows, and often paralyzes, market growth.
Bitcoin and .com won't lose value anytime soon, if ever. They both have their market share well established. They are both a great store of value. Theres no denying they are the top dog.
Although, that doesn't mean that a rival or competitor can't gain value. That doesn't mean the total market can't grow with other competitors. Technology is dynamic, it's ever changing, just as markets for consumers is dynamic and ever-changing. Competition and choices are what grows a total market, not maximalist attitudes.
I look forward to the ever-changing markets, as an investor, in both .com and bitcoin. I also look forward to being part of the "other" opportunities available and watch that market share grow as well.
Cheers to Bitcoin, and other cryptocurrencies. Cheers to .com, and other domain extensions.
Are you a maximalist?
max·i·mal·ist
/ˈmaksəmələst/
noun
- a person who holds extreme views and is not prepared to compromise.
- of or denoting an extreme opinion.
"if we demand only maximalist ends, we will get nothing"
In the crypto market there are "Bitcoin maximalist's" and in the domain market there are ".com maximalist's."
Both Bitcoin and .com are similar in that they were the first to create a market. They changed the system, they were revolutionary. They established something new and desirable. They hold that history.
Does that mean nothing can come and contend? Can anything come and share a piece of the total market pie? Can anything else come and grow the total market cap? Can anything else contribute new attributes to an existing market?
In crypto there are many other currencies trying to compete for market share. In domains the same holds true. If history tells us anything, it's that nothing stays stagnant. Change comes and when it does it catches many by surprise, even some of the best.
1989: “We will never make a 32-bit operating system.” — Bill Gates, co-founder and chairman of Microsoft.
1992: “The idea of a personal communicator in every pocket is a “pipe dream driven by greed.” — Andy Grove, then CEO of Intel.
2003: “The subscription model of buying music is bankrupt. I think you could make available the Second Coming in a subscription model, and it might not be successful.” — Steve Jobs, in Rolling Stone
2007: “There’s no chance that the iPhone is going to get any significant market share.” — Steve Ballmer, Microsoft CEO.
One of the larger problems that face the cryptocurrency market is mainstream adoption. Currently its estimated that only about 50 million crypto addresses exist. Exact users are hard to put a number on. With domains, very few understand the values, such as trust, that a good domain can give. Most people don't consider a domain as a digital asset. In both cases (domains & crypto) "Maximalist" behaviors hurt and slow adoption of the true potentials. Maximalist's confuse new consumers, instead of educating them on all attributes available. Confusion slows, and often paralyzes, market growth.
Bitcoin and .com won't lose value anytime soon, if ever. They both have their market share well established. They are both a great store of value. Theres no denying they are the top dog.
Although, that doesn't mean that a rival or competitor can't gain value. That doesn't mean the total market can't grow with other competitors. Technology is dynamic, it's ever changing, just as markets for consumers is dynamic and ever-changing. Competition and choices are what grows a total market, not maximalist attitudes.
I look forward to the ever-changing markets, as an investor, in both .com and bitcoin. I also look forward to being part of the "other" opportunities available and watch that market share grow as well.
Cheers to Bitcoin, and other cryptocurrencies. Cheers to .com, and other domain extensions.
Are you a maximalist?
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