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Top cryptocurrency news: Bitcoin core contributor urges maximalists to choose an alternative path

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There was a time when Bitcoin (BTC) was the sole non-scam crypto project, and advocating for only BTC made perfect sense. 

However, according to a Bitcoin Core contributor, this has not been the case for some time, and he has asked the community to abandon the us-versus-them mentality.

In a Twitter thread, Matt Corallo, a Bitcoin Core contributor, pointed out to the community that instead of BTC supporters arguing why Bitcoin is unique and remarkable, they are wasting time bashing competing projects.

According to Corallo, this scenario is resulting in a "narrative war" in which crypto projects bash each other. Corallo went on to warn that Bitcoiners going after Ethereum (ETH) for the impending Merge, claiming that proof-of-stake (PoS) would not succeed, will encourage ETH supporters to lobby regulators against Bitcoin from the same environmental standpoint.

Lastly, the developer asked Bitcoiners to focus on Bitcoin and its beneficial characteristics rather than criticizing other projects that are not BTC.

Despite the call for greater respect and decency for other initiatives, some Bitcoiners seem unconcerned. A Twitter user responded to the conversation by saying that everything other than Bitcoin is a hoax. According to them, some ventures appear legitimate but are ultimately frauds.

In an interview in July, Bitcoin proponent Michael Saylor stated that all PoS networks are securities and are extremely risky. He contended that Ethereum is a security due to its fundamental characteristics, such as its issuance via an initial coin offering. He stated that it is up to regulators to decide whether or not these initiatives should be continued.

Meanwhile, Ethereum co-founder Vitalik Buterin has been trying to fight back against critics. Buterin criticized arguments against ETH voting, calling one of them an "unmitigated bare-faced falsehood," claiming that ETH does not perform voting on protocol parameters.

Read also: Top cryptocurrency news: Crypto payments will 'make sense' as transaction costs fall to mere cents— KBW 2022: Vitalik

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