Brad Mills Reflects on Bitcoin ‘Season 2’ — A New Era of Monetary and Platform Coexistence

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Brad Mills discusses the Bitcoin “Season 2” narrative, a phase that signifies a coexistence and rivalry between the traditional monetary maximalists and the newly emerging platform maximalists.

Brad Mills Discusses the Rise of Platform Maximalism in ‘Season 2’

In a thought-provoking post on X, Brad Mills, a notable figure in the Bitcoin community, delves into the evolving dynamics of Bitcoin’s ecosystem, specifically something referred to as “Season 2.” Brad Mills is known for his early involvement, expertise, and advocacy for bitcoin as well as a founder of multiple crypto startups.

Season 2 refers to, in Mills’s own words, “the split of the monetary maximalist activist Bitcoiners from the platform maximalist entrepreneur Bitcoiners.” Mills, initially skeptical of the Season 2 concept, acknowledged the growing influence of entrepreneurs who are innovating on Bitcoin’s platform.

In what Mills terms as “Season 1,” the Bitcoin community witnessed intense debates and conflicts between these two camps. This period was characterized by significant developments such as the Bitcoin Cash fork, the Liquid Network, and the Lightning Network, which focused primarily on bitcoin’s monetary use.

However, Mills points out a shift in this dynamic as the community gets ready to transition toward an era he calls “the 5th epoch” of Bitcoin. “Season 2 means the era of Bitcoin where the platform maximalist cypherpunk capitalists have just as much influence over Bitcoin as the monetary maximalists activists,” he stated.

Mills, who seems partial to the monetary use case but is actively involved in both camps, emphasized the importance of understanding both perspectives. He recounted his experiences with projects like Counterparty and Omnilayer, which were once sidelined but are now gaining recognition.

This new era has also seen a surge in economic activities, with miners and investors reaping substantial profits from these innovative applications. “Not only are miners earning hundreds of millions of dollars extra by mining these transactions, but Bitcoin Platform Maximalists are coming out of the woodwork to come back to bitcoin to use it,” Mills observed.

The rise of platform maximalism is also bringing to light various issues and potential improvements in Bitcoin’s design, particularly in scaling and user experience. This shift, according to Mills, is contributing to a decline in the cultural relevance of the so-called “toxic maxi” and an increase in the influence of more innovative thinkers, dubbed “toxic wizards.”

Mills concluded with a forward-looking perspective:

This doesn’t mean that they are going to ruin bitcoin for the monetary use case – it just means that we will have to work harder to compete with them.

They are very hard workers.

Do you favor the monetary or platform use case for Bitcoin? Share your thoughts and opinions about this subject in the comments section below.