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It feels like Bitcoin has finally crossed the Rubicon into the mainstream both a triumph and a tragedy. Walking around the conference this year, you could easily mistake it for a fintech summit or SaaS expo in Vegas. Same blazers, same VC pitch decks, same awkward networking energy. The suitcoiners outnumber the cypherpunks by 100:1. On one hand, this is what we fought for: global legitimacy, serious capital, institutional attention. On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Bitcoin doesn’t feel quite as dangerous anymore. It feels… professional. Predictable. “Respectable,” even. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within. Either way, the vibe has shifted.

Replies (124)

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Honestly, a tale as old as "Bitcoin" conferences have been in existence. Altcoiners, VCs and bankers are turds in the Bitcoin punch bowl and neuter the Bitcoin energy. The impotent, fake, political vibe is what those people have been giving off since the early days of "Blockchain, not Bitcoin" and "here's our whitepaper." The suitcoiners will come and go. Cypherpunks will be around long after they're done with their grifting. View quoted note →
By the time you notice the trojan, it's already too late,your system is breaking.
HODL's avatar HODL
It feels like Bitcoin has finally crossed the Rubicon into the mainstream both a triumph and a tragedy. Walking around the conference this year, you could easily mistake it for a fintech summit or SaaS expo in Vegas. Same blazers, same VC pitch decks, same awkward networking energy. The suitcoiners outnumber the cypherpunks by 100:1. On one hand, this is what we fought for: global legitimacy, serious capital, institutional attention. On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Bitcoin doesn’t feel quite as dangerous anymore. It feels… professional. Predictable. “Respectable,” even. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within. Either way, the vibe has shifted.
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Yeah, but the bitcoiners stick out like a sore thumb. Even the normies notice. I talked to some dude in a Satrbuck's line and he found me later and asked where he could find the bitcoin code. I made a QR code of the GitHub repository and he scanned it. A gray haired man saw me pay for dinner at Steak And Shake and asked me if I knew David Bailey.🤣 I said, "no," but I've subsribed to Bitcoin Magazine for years. The pleb I met oan Uber ride shared David Bailey's email with him.👀 I told some other guy by the Jade Booth why I think the Cold Card is the most secure hardware wallet you can buy. He saw me at 2 a.m. and asked if I wanted to smoke a joint with him because he was impressed with how much I knew about it. I told him I would, but I already had 4 eddibles. I gave him a gummy and went to bed.
It probably feels like that because of where you just were. This feels like a case of "Nobody goes there anymore it's too crowded" or "Colorado was so beautiful when I first moved here from California, but now everybody from California is moving here and ruining it." I remember that video somebody posted that on the Bitcoin talk forums. I think the song was called "Jump you fuckers". And the whole idea was that Bitcoin was going to make all the backers jump out of windows like 1933. But I also remember that post that Hal Finney made that foretold bitcoin banks. It was well before that video. Hal was obviously a futurist... he could see.
pressed post too early. I don't mean to say that we aren't losing something of the original community of upstart ragtag bitcoiners. What I am saying is, it was always going to be this way. If Bitcoin would be anything close to what the original vision set out, it was going to go this direction. We've been rooting for it. And it is definitely scary to see the world's biggest scammers coming in to this project. But again, it was always going to be that way and it always has. To think, shitcoinery was not going to be part of this cycle? Well, what happens each cycle is the old shitcoins fall down the list, and the new ones rise every time. The new shit coins just look a lot different this time. And I still think Bitcoin is a Trojan horse. Get all the money into it and then watch what happens. Either they can break it or they can't. I think they can't.
I've basically been saying this since the ETF while yall kept clapping away for government and suits. Your just starting to feel this way, but just give it some time....they will steal your limited supply and make sure you're enslaved under a new system where once again you have to keep providing value(working your ass off) just to barely live still.
Government is in it for power and control. Same enslavement. New system. We know why the vibe has shifted and have been trying to warn these people all along...to no avail.
HODL's avatar HODL
It feels like Bitcoin has finally crossed the Rubicon into the mainstream both a triumph and a tragedy. Walking around the conference this year, you could easily mistake it for a fintech summit or SaaS expo in Vegas. Same blazers, same VC pitch decks, same awkward networking energy. The suitcoiners outnumber the cypherpunks by 100:1. On one hand, this is what we fought for: global legitimacy, serious capital, institutional attention. On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Bitcoin doesn’t feel quite as dangerous anymore. It feels… professional. Predictable. “Respectable,” even. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within. Either way, the vibe has shifted.
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We kinda already knew the vibes are off.... Bitcoin as Digital Gold vs. P2P Cash: The narrative around Bitcoin has shifted significantly. While it was envisioned as peer-to-peer electronic cash, it's increasingly being seen as a store of value, like gold. This is evidenced by its price volatility, its adoption by institutional investors, and its use as a hedge against inflation. The focus has moved away from everyday transactions. Reserves and Distribution: Personal cold wallets act as individual reserves. It highlights the concentration of Bitcoin ownership. Im concerned that by the time mass adoption by peers occurs, most Bitcoin will be held by governments, corporations, and early adopters, leaving less for the general public. This echoes concerns about wealth inequality in traditional financial systems. The Role of Governments and Corporations: These entities are now heavily involved in Bitcoin. Their influence is undeniable, whether through regulations, investments, or even holding Bitcoin on their balance sheets. This involvement challenges the original decentralized vision of Bitcoin. Scarcity and the Hard Cap: Bitcoin's hard cap, while intended to create scarcity, could backfire. It might allow those who accumulate Bitcoin early on to exert undue influence, effectively replicating the centralized control of traditional finance. This is a valid concern. If a small group controls a significant portion of the Bitcoin supply, they could manipulate the market or restrict access for others. The Missed Opportunity for Change: Occupy Wall Street and the pursuit of Bitcoin ETFs, SBRs, etc highlights the tension between systemic change and mainstream adoption. While ETFs etc can increase accessibility, they also integrate Bitcoin into the existing financial system, potentially diluting its revolutionary potential. The concern is that this integration appears to reinforce existing power structures rather than dismantling them as intended.
HODL's avatar HODL
It feels like Bitcoin has finally crossed the Rubicon into the mainstream both a triumph and a tragedy. Walking around the conference this year, you could easily mistake it for a fintech summit or SaaS expo in Vegas. Same blazers, same VC pitch decks, same awkward networking energy. The suitcoiners outnumber the cypherpunks by 100:1. On one hand, this is what we fought for: global legitimacy, serious capital, institutional attention. On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Bitcoin doesn’t feel quite as dangerous anymore. It feels… professional. Predictable. “Respectable,” even. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within. Either way, the vibe has shifted.
View quoted note →
Some of you may start to understand why all early Bitcoin OGs (2009-2012) are now in Monero.
HODL's avatar HODL
It feels like Bitcoin has finally crossed the Rubicon into the mainstream both a triumph and a tragedy. Walking around the conference this year, you could easily mistake it for a fintech summit or SaaS expo in Vegas. Same blazers, same VC pitch decks, same awkward networking energy. The suitcoiners outnumber the cypherpunks by 100:1. On one hand, this is what we fought for: global legitimacy, serious capital, institutional attention. On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Bitcoin doesn’t feel quite as dangerous anymore. It feels… professional. Predictable. “Respectable,” even. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within. Either way, the vibe has shifted.
View quoted note →
You know what’s still punk as fuck? Wondering around a conference full of people and knowing that you hold more corn than 99.9% of them and that THEY are still early compared to gen pop. Also, calling France gay. That was the most punk thing I’ve seen all year. I’ve still never been to a conference. I want to bad but I can’t make the math work so instead I sit at home (on the floor) chewing my steak and trolling the people who went on nostr.
1% cypherpunks. Less cypherpunks made bitcoin happen so I like the odds still.
HODL's avatar HODL
It feels like Bitcoin has finally crossed the Rubicon into the mainstream both a triumph and a tragedy. Walking around the conference this year, you could easily mistake it for a fintech summit or SaaS expo in Vegas. Same blazers, same VC pitch decks, same awkward networking energy. The suitcoiners outnumber the cypherpunks by 100:1. On one hand, this is what we fought for: global legitimacy, serious capital, institutional attention. On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Bitcoin doesn’t feel quite as dangerous anymore. It feels… professional. Predictable. “Respectable,” even. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within. Either way, the vibe has shifted.
View quoted note →
In 1933, the United States banned the possession of gold by the public, and the same could happen to Bitcoin. Governments have always tried to seize valuable things. Think about what Trump said, he calls Bitcoin a strategic reserve, governments believe that something that is strategic should not be in the hands of ordinary people.
The suitcoiner cringefest should not lull anyone into complacency. Once they realize Bitcoin cannot be co-opted and Bitcoin does what it is meant to do, we will be back to the “then they fight you” stage. And this time it will be for real and for keeps.
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We’re never going to orange pill the entire world. At best, a tiny fraction of the world will be orange pilled. But bitcoin will win because even those who hate it will end up using it bc it’s in their best interest to do so.
Absolutely. I stopped trying to get a specific person that’s important to me to do anything. My parting statement on the topic was “you’ll end up using it, you just don’t know it and you won’t have early adopter advantage but it’s even already woven into the fringes of your 401k.” Then I left them my book to have if they get curious but don’t want to lose pride by talking to me about it later.
What I saw esp. with the lending/staking companies on the floor is what I see in any rapidly growing market: a bubble of competition. Tradfi will settle down and stop acting so contrived eventually then we can all dance naked in the jungle together. It's a process.
I understand the frustration. I have it too. But unfortunately you can't have a full barrel and a drunken wife. Some want mass adoption and I would say that for mass adoption things are going well because if politics de-dogizes ₿ he can enter everyone's homes. On the other hand, you obviously lose that thrill of the instrument that goes against the system. The point is one: politics has approached bitcoin not because it wants mass adoption, but because it has understood that not being able to stop it it must become a friend. That's all! Of course, seeing such mainstream conferences on bitcoin (like the one in Lasvegas) would make Nakamoto himself fall to the grave. You can't have everything. Full speed ahead! Fuck the politicians who pretend to be bitcoiners 🏴‍☠️
I understand the frustration. I have it too. But unfortunately you can't have a full barrel and a drunken wife. Some want mass adoption and I would say that for mass adoption things are going well because if politics de-dogizes ₿ he can enter everyone's homes. On the other hand, you obviously lose that thrill of the instrument that goes against the system. The point is one: politics has approached bitcoin not because it wants mass adoption, but because it has understood that not being able to stop it it must become a friend. That's all! Of course, seeing such mainstream conferences on bitcoin (like the one in Lasvegas) would make Nakamoto himself fall to the grave. You can't have everything. Full speed ahead! Fuck the politicians who pretend to be bitcoiners 🏴‍☠️ View quoted note →
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GM. I'm so glad I wasn't in Vegas. Everything I have seen confirms my suspicions. The world financial apparatus, led by the US and aided by an army of people who only care about number go up, is trying hard to co-opt Bitcoin into a custodial asset, managed (aka controlled) by them. Don't fall for it. Bitcoin MUST be a peer to peer technology for it to succeed (NgU is NOT succeeding). I refuse to believe that it's "inevitable" that we'd get this fiat managed outcome when we hit the mainstream. Bitcoin is money for people; not governments, banks, and corporations. Fuck them. They've had their chance to run things and they've broken nearly everything. View quoted note →
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Not all of us fought for legitimacy and mainstream adoption. Original cryptoanarchists were a bit elitist, I think Timothy May would laugh at the suits. But it is what it is, no need to be nostalgic. Bitcoin wins anyway
@HODL honestly dude it might feel like a hobby or one off fun thing but your takes and unhinged rants ARE the type of thing that keeps bitcoin feeling raw, human, personable I know people “cringe” at being called/labeled an influencer, but we have the power to shape the bitcoin narrative with how we tell stories/verbalize it get your voice out there as much as possible and other cypherpunks and plebs (like myself) will follow drown out the suits
1000% agree. I was feeling exactly the same, but wasn’t sure others were willing to admit it. Moving out of the dorm room moments have been inflection points in history. If Bitcoin has sold its soul to the devil, it was all for naught. Just another Central Bank liquidity tool and the fastest fintech, not racehorse. Hopefully, it does its thing. Remains a shadowy coder and continues to orange pill the very ones trying to co-opt its power.
I suspect this vibe in Las Vegas is specific to the USA. The value proposition is investment / store of wealth, primarily, in the USA at present. It is different elsewhere, and the vibe at other conferences reflects more of the freedom tech movement. Bitcoin is for everyone. It is beautiful, even when it isn't! 👍🤣
This is the beauty of the trojan horse that Bitcoin represents "They", ie tradfi, don't truly understand the implications of disrupting central banking Your view of course, having witnessed it, but perhaps that is the current guise most needed to make it to the next level
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this is kinda how it always goes with new things, yes? grifters do a damn good job of jumping on a bandwaggon and trying to streer it in their direction. What we have to do is understand what's happening and not become enamored with them. ....if you are secretly longing for wealth, fame, and/or power... they will get ya. tView quoted note →
Stoney used to talk about Eternal September. ( Or something similar ) Maybe it is an impossibility to be underground, raw, grass roots and widely adopted. Maybe the edginess must come from the things built around it now, dude? We are getting old 🤣
Estes dois trechos aqui, foi tão impactante para mim, que eu realmente precisei reforçar. - Mask, polishing, fitting for adaptability - and not the revolution that was expected. 🤌🏻 “On the other, something’s been lost in translation. The raw edge, the revolutionary energy, the sense that we were building something against the system not polishing it up to sell it back to the system. Maybe that’s just the mask Bitcoin wears while it continues hollowing out the old world from within.” View quoted note →
Bitcoin has had many diverse demographics since its inception, but the niche I fit into seems to continually branch off and become scarcer over time. Eventually, the Bitcoin space will consist of average, bland, uninteresting people. We will look back on the earlier days with nostalgia for what we once had. However, when we reach that point, we will be on a Bitcoin standard, and by default, the world will be a much better place, less obstructed and diminished by the past fiat regime.
Agreed. The suits are in and young people are as uninterested in btc as they are in the S&P 500. It feels like boomer stock. The truth is that bitcoin’s story is just beginning but the perception in younger generations is that the opportunity for life changing wealth has passed. If you’re looking for a wild ride with an inspired community of believers, join SPX6900 it’s an anti tardfi cult movement. Gives OG bitcoiners nostalgic vibes of the old days and provides spiritual nourishment and community to an increasingly isolated online society.
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The cypherpunk spirit will shift to tools and networks built on top of it. They will always go to the edges to solve the next great problem, using the foundation they built to go the next mile. That’s what #Nostr is and why we are here. It’s the next major piece of the puzzle. Sure, much like the internet, 5 years ago, you go to a tech conference and it’s nothing but normies and finance bros and all the rest…. The internet was “mainstream.” But then you go to a Bitcoin conference and you find the same rebels, cypherpunks, and people truly trying to change things who were at the beginning of the web, and the next generation who revered them and continued their mission. It is still the culture that built the internet, it is still on the internet, but clustered in that place where they are most likely to change the world again, and make another great leap forward. The spirit isn’t dying, it only shifts to where it is most needed. And the fire of that spirit is far from extinguished. To the contrary it’s burning brighter than it has in a long, long time, imo. It’s true the spirit of what would be called “Bitcoin” as a cultural movement has shifted. It was inevitable. But it’s never dead. nevent1qqsqfste3n2e8n08zdl6nmv03uykjdskxn0gwrzjjyv5aweh6kfjc8gpp4mhxue69uhkummn9ekx7mqz97d8g
It’s up to bitcoiners to reclaim that ground. We all have the responsibility to maintain the brand of bitcoin and the cypher-punk ethos. If anyone decides not to go because their disgusted by the fait shicoinny vibes, that’s cool. The front line is not for everyone and it’s only going to get worse.
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We need a conference that one can only buy a ticket somehow directly through a node that they themselves have administrative access to. It'd be nice to have actual cipherpunks, but at the very least one should need to, you know, run the bitcoin software if they're to be taken seriously at a bitcoin conference. Perhaps just sell the tickets with a transaction type that at this point isn't supported outright by anything other than bitcoin-cli. That all said, I'm not sure it's fair to judge the state of Bitcoin by what some circus put on in the city of high time preference by Shitcoin Magazine went like. It may be different all around, but they're the last ones that should get to decide what Bitcoin's vibe is. Personally I think I'd be more likely to go to a Nostr conference than a Bitcoin one at this point though.
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Replying twice to the same note may not be the best form, but I did want to add that the places where Bitcoin still feels revolutionary are in the privacy protocols being developed like Coinswap and other privacy oriented protocols. And the nice thing is that while these will never be what the powers that be have anything good to say about, they also can't stop it given that it is, at the end of the day, open source code, and it turns out that math is ungovernable. Rest easy that with enough adoption, you won't need to suffer these circuses of conferences for too long. Nobody holds dollar or gold conventions after all. Privacy conventions could pick up, though getting together to meet in person may be an odd choice for privacy afficionados. Maybe we all need to show up looking like Calle...