kcbitcoin

The idea of Nostr is the best among all social apps. I own my account and profile, and bring it anywhere I want. I can use it to unlock apps, not vice versa

I was attracted to bitcoin because of its cypherpunk ideals, censorship resistance, , decentralised, immutability , non-custodial, permissionless, peer-to-peer without any intermediary. However, with more tradfi and mass adoption, it seems that these ideals are secondary to its moneyness or as a means of store of value. It is indisputable that higher price, acceptance of tradfi institutions and normal people in the street is a vindication of Bitcoin and what most (if not all) people in Nostr has believed and fought for. Unfortunately, Bitcoin has not forced tradfi/ normies to adopt any of the ideals. Exactly the opposite, tradfi is more successful in injecting their values into Bitcoin, with the rise of ETF and DAT (custody with intermediaries), and adoption of the KYC (permissioned and can be censored). It seems we get the result right, but the path wrong. On a more optimistic tone, we are still early. Numbers going up, breaking into mainstream are only the 1st steps. Once people know about the utility and moneyness of the Bitcoin, they will naturally go deeper and understand the ideals. Similar to mining, incentives are necessary to solve the cold-start problem. Higher price is incentive for people to go deeper into the rabbit hole. Let me review this in 5 years time and see what happens by then. In Bitcoin (and its values) we trust!