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A recent one Blockspace article spoke deeply to me as someone who has lived in Asia and the West. It explored how Asia-based Bitcoiners tend to be profit maximizers, not philosophically driven Bitcoin maximizers.
This was true from my experience. When I meet Asian Bitcoiners, money and profit seem to be the main motivations. Compare that to Westerners, who often cite the cypherpunk, privacy and political ideals behind Bitcoin.
Of course, this is a broad generalization. Many exceptions exist on both continents, but the general lens is that both parties’ views on Bitcoin differ significantly.
Cultural and economic differences are likely the cause of this gap. Western Bitcoiners are often born into prosperity with a strong infrastructure. They don’t care about money itself because it is available in abundance. So they have the luxury of prioritizing loftier Bitcoin goals like privacy, censorship resistanceAnd decentralization.
Meanwhile, many Asian Bitcoiners grew up poor and struggled for money amid crumbling infrastructure. When they discover Bitcoin, it understandably represents financial opportunity above all. After being short of money all their lives, profits take precedence over philosophical concerns.
A good example is the common maxi argument against altcoins: that they lose value versus Bitcoin over time. This philosophical stance fails in Asia, where people judge investments based on empirical results, measured in fiat profits. If an altcoin generates a 20x fiat return, Asians won’t care that it’s down 98% against Bitcoin. Their profit-oriented framework renders certain Western philosophical arguments ineffective.
Where can you see the results Bitcoin maximalism is flourishing – especially in the West. Relatively speaking, Asia has virtually no maxis. Again, the incentives are aligned. When your only goal is profit maximization, altcoins and tokens become fair game.
Therefore, we are seeing more Bitcoin Season 2 projects emerging from Asia, which will continue to be the case.
This is not to say that one mentality is superior. Both are integral to Bitcoin’s success. The Asian business community drives adoption at all costs and provides the capitalist engine. Western idealism keeps the protocol ethos on track. Together they provide the checks and balances Bitcoin needs to thrive.
Observing the Asian profit-first mentality versus the ideological preferences of the West provides insight into Bitcoin’s cultural landscape. Neither view is right or wrong in itself. By understanding both mindsets, Bitcoin can synthesize the best of both worlds.
This article is a To take. The opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.