Asian Bitcoiners are profit maximisers

WHAT WE READ: Blockspace Media

A recent Blockspace article resonated deeply with me as someone who has lived in Asia and the West. It examined how Bitcoiners in Asia are mostly profit maximalists, not philosophically driven Bitcoin maxi.

This rings true in my experience. When I meet Asian Bitcoiners, money and profit seem to be the primary motivators. Contrast that with Westerners, who often cite cypherpunk, privacy, and the political ideals behind Bitcoin.

Of course, this is a broad generalization. There are many exceptions on both continents, but the overall point is that each side’s views on Bitcoin differ substantially.

Cultural and economic differences likely drive this divide. Western bitcoiners are often born into prosperity with a strong infrastructure. Money itself does not captivate them because it is available in abundance. Thus, they have the luxury of prioritizing Bitcoin’s higher goals, such as privacy, censorship resistance, and decentralization.

Meanwhile, many Bitcoiners in Asia grew up poor, struggling for cash amid crumbling infrastructure. When they discover Bitcoin, it’s understandable that it’s a financial opportunity above all else. Having been short of money all their lives, profits take precedence over philosophical concerns.

A prime example is the maxi common argument against altcoins – that they lose value to Bitcoin over time. This philosophical position is unsettled in Asia, where people judge investments based on empirical results measured in fiat earnings. If an altcoin generates a 20x fiat return, Asians won’t care that it’s down 98% against Bitcoin. Their profit-centered framework renders certain Western philosophical arguments ineffective.

You can see the results of Bitcoin maximalism thriving – predominantly in the West. Asia practically has no maxi comparatively. Again, the incentives align. When your only goal is profit maximization, altcoins and tokens become fair game.

That’s why we’re seeing more Bitcoin Season 2 projects coming out of Asia, which will continue to be the case.

This does not mean that one mentality is superior. Both are integral to Bitcoin’s success. Asian business drives adoption at all costs and provides the capitalist engine. Western idealism keeps the protocol ethos on track. Together, they produce the checks and balances Bitcoin needs to thrive.

Observing the profit-first mentality of Asia versus the ideological leanings of the West provides insight into the cultural landscape of Bitcoin. Neither perspective is right or wrong in itself. By understanding both mindsets, Bitcoin can synthesize the best of both worlds.

This article is a Take. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.