Why this Bitcoin maximalist switched to Bitcoin SV

In a devastating attack on his old crew, longtime Bitcoin maximalist Kevin Pham jumped ship for rival cryptocurrency Bitcoin SV. By claiming that the former was “taken over by socialists”, he has sparked a new wave of crypto-tribalism on social media. BSV gets a boost from all of this as the coin pumps 20% today.

Pham spills the crypto beans

In an hour-long interview, Kevin Pham explains his motives for the move that has obviously angered the Bitcoin maximalists on the Internet.

On a self-proclaimed trip “through the rabbit hole”, Pham referred to himself as the “attack dog” of Bitcoin Core, who used vitriol to reprimand all other cryptocurrencies. In the interview, he describes himself as nihilistic until he realized he wanted to know more and left Wells Fargo to reject capitalism and the perceived fraud it portrayed. He quoted his economics professor who opened his eyes and added;

“The empirical definition of government is an entity that has a monopoly on life.”

Price is the best marketing tool Bitcoin had after investing early but getting on the waves of the market. Part of the reason for the abolition is because he saw the community become a “lifestyle brand” whose attitudes resembled the wealth-obsessed bankers against whom the entire notion opposed. The Bitcoin SV community was more open and diverse, according to Pham. The BTC community, largely made up of Americans, is blind to outside international opinions on use cases.

This is what the vision scorned from Satoshi’s vision which emphasized actually using Bitcoin for payments in the chain rather than being an instrument for increasing personal wealth. He added that BTC’s small block size resulted in a shift in value to alternatives like Litecoin or Monero. He also believed that it was hypocritical for Bitcoiners to allow ASICs to centralize mining, but not to block nodes through larger block sizes. The main recording of the interview was that BTC had been taken over by socialists;

I apologize, BCH is dictatorial.

BTC was taken over by socialists. https://t.co/RIfG6AED7S

– Kevin Pham (@_Kevin_Pham) February 25, 2019

Dealer Kevin McCarty took to Twitter to end the interview and state that Phan disagreed with the overall maximalist stance.


Pham thanked McCarty for the summary and largely agreed with it.

Many thanks to BigKevMcCarty. I think this is a fair summary of my views from a BTC perspective. https://t.co/y3YjEl4OOF

– Kevin Pham (@_Kevin_Pham) February 26, 2019

The response continued, and many questioned the often immature responses of many.

“Wait wait…. Why is everyone being triggered in such a way that @_Kevin_Pham supports $ BSV? I thought everyone was a $ btc HODL’ing OG? So you should have enough coins that come from hard forks. Unless you are not telling the truth. There is no way “crypto influencers” would lie … right? “

Crypto-tribalism is raising its ugly head again and losing the entire philosophy behind the technology. These arguments are necessary to evolution, but the childlike way many, including prominent industry influencers, respond to social media is often more damaging than anything else.

The personal attacks of BTC people are increasing.

BSV’er are not telling me that I did not warn you and take the necessary precautions.

– Kevin Pham (@_Kevin_Pham) February 25, 2019

Either way, Bitcoin SV is having a great day in terms of price as it pumps 20% and challenges Binance Coin for its place in the top ten market cap crypto assets.

Image from Shutterstock | Video Credit: CryptoTradersPro

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