The Ledger: Bitcoin Maximalists, Blockchain on Campus, Doge

The crypto investing scene is a gloomy place of late but at least one group is having fun. Bitcoin maximalists—folks skeptical of cryptocurrency that’s not Bitcoin—have been having a grand old time dunking on other crypto tribes.

A prime example came in the form of an epic tweetstorm by a bitcoin loyalist named Eric Wall. In thirty tweets sharp as darts, Wall mocked the premise of crypto projects that raise money by selling tokens to use a blockchain service. There’s a glut of these tokens, also known as “alt-coins” (many prefer a prefix that rhymes with “lit”), and their value has imploded spectacularly. Wall says this collapse was inevitable.

“It turns out, requiring users to hold tokens in order to access basic features is bad UX, horribly inefficient & unnecessarily complex,” ” he observes. And Wall has a point. So many alt-coin projects now appear first and foremost designed to sell tokens, rather…