The fervent fandom of Bitcoin is referred to as “Bitcoin Maximalists” or simply “Bitcoin Maxis,” primarily active on Twitter. Notable figures among them include MicroStrategy’s CEO Michael Saylor, renowned for accumulating large amounts of Bitcoin.

The ideology of Bitcoin maximalism, central to the Bitcoin Maxis, asserts that Bitcoin stands as the first and only truly decentralized currency and sound money. They argue for the collapse of the current USD-centric economy and advocate for establishing a Bitcoin-centric economic regime. Therefore, they view El Salvador’s adoption of Bitcoin as a paradise.

Contrary to the misconception equating coiners with Bitcoin Maxis, there exists a hostile relationship between them. While coiners align with the “trader” camp, Bitcoin Maxis belong to the “hodler” camp. This divide stems from the vast disparity between Bitcoin Maxis, who aim to accumulate Bitcoin regardless of price fluctuations, and coiners, who seek profits from Bitcoin investments.

The term “HODL,” representing the act of holding onto Bitcoin, originated from a misspelling in a Bitcoin forum post, derived from “Hold On for Dear Life.” Bitcoin Maxis, after discovering this term, proudly identify themselves as Bitcoin HODLers.

Their symbols include laser eyes, lightning emojis, slogans like “1BTC=1BTC,” “#Bitcoin fixes this,” and derogatory terms like “Shitcoin” and “Have fun, staying poor.” Korean Bitcoin Maxis often mix English in their sentences.

Economically, they generally align with the Austrian School, replacing private enterprises and contracts with Bitcoin and decentralization, incorporating elements like proof-of-work. They possess substantial knowledge of economics, often dismissing government intervention in markets and viewing the Federal Reserve as evil.

Regarding other cryptocurrencies, they consider fiat currencies, especially the USD, as fraudulent tools manipulated by central banks for personal gain. They label Ethereum and other altcoins as either plagiarizing Bitcoin or being parasitic scams. Their aggressive stance against non-Bitcoin cryptocurrencies often includes assertions that Bitcoin will replace traditional disciplines like religion, humanities, social sciences, and natural sciences.

Bitcoin Maxis actively participate in Bitcoin conferences and even produce their own Bitcoin maximalism manifestos. Despite occasional failures, successful conversions are celebrated as having successfully administered the “orange pill,” referencing a concept akin to taking the red pill in “The Matrix.” These successes strengthen the bond among Bitcoin Maxis.

(Note: Some terms like “coiners,” “HODL,” and “shitcoin” are specific to cryptocurrency communities and may require further explanation for readers unfamiliar with the jargon.)