Bitcoin-only maxis tend to view the world through a binary lens: Fiat vs. Bitcoin.
Their financial philosophy is built on a perceived dichotomy, which subtly steers them toward reinforcing TradFi and the fiat complex. This ironic pro-TradFi positioning reveals itself whenever they cheer on BTC ETFs, MicroStrategy, or nation-state adoption, and whenever they dismiss crypto innovation beyond Bitcoin.
In contrast, many in the broader crypto space, including ardent Bitcoin supporters, seek to replace fiat with an open, trustless, censorship-resistant, and hyper-efficient global financial system. This reflects the true cypherpunk ethos, rooted in core libertarian ideals: decentralization, anti-authoritarianism, the right to privacy, and permissionless innovation. These principles not only align with Bitcoin’s original vision but also drive the broader crypto movement.
A notable caveat: Many crypto proponents actively promote onchain fiat. Stablecoins, while useful as a transitional bridge, are fundamentally misaligned with the core principles of Bitcoin and crypto. Their strongest advocates effectively represent a “Fiat 2.0” bloc. While they may not oppose the crypto movement in a pragmatic sense, they stand in direct opposition to it philosophically.
Similarly, Bitcoin-maxis often resemble fiat supporters, at least indirectly, by inadvertently advocating for a world where the fiat system remains totally dominant over a subjugated Bitcoin network.
Crypto should be about building a robust financial ecosystem onchain that gradually leaves the old fiat system behind. Achieving this vision will require a complex and ever-expanding array of crypto-native solutions. It is important enough to be a top priority for civilization, and we should do everything we can to accelerate it.