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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 (122)

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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.
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Definitely felt this walking around the expo but like anything in life, it boils down to the company you keep. Didn’t feel it at #nosvegas. Didn’t feel this at the OPA party. Didn’t feel it at the @PUBKEY x @npub1sk7m...jraw hotstyle takeover. Don’t feel this at our local Vegas Bitcoiners meetup. It’s on plebs to curate their circles. Remember, you can allow those types acceptance but you don’t owe them any energy. View quoted note →
@HODL The reality is that Bitcoin has multiple faces now. More and more diverse and divergent groups of people are finding utility for it. Which is fine. But shame on Bitcoin Magazine for highlighting the corporate side more than anything else. That's just very boring. We should be highlighting how Bitcoin is going to make the politicians that are attending this very same conference obsolete.
Maybe the incentives structures intrinsic to bitcoin are so pure that vapid surface level presentations of bitcoin are at worst a distraction. The fundamental precepts of freedom money are codified by Satoshi’s discovery/creation of digital scarcity, difficultly adjustment, amount of compute securing the network, node operators and common working folk who understand the value of bitcoin as a savings technology. To name a few. Ultimately there are two options for Bitcoin. Option one, Bitcoin is going up forever and will fundamentally change the nature of how human beings interact or option two, it will fail. There is no in between. Despite the lack of depth present at the convention it appears as though we’re currently witnessing option one play out.
Maybe the incentives structures intrinsic to bitcoin are so pure that vapid surface level presentations of bitcoin are at worst a distraction? That’s my hope🙏The fundamental precepts of freedom money are codified by Satoshi’s discovery/creation of digital scarcity, difficultly adjustment, amount of compute securing the network, node operators and common working folk who understand the value of bitcoin as a savings technology. To name a few. Ultimately there are two options for Bitcoin. Option one, Bitcoin is going up forever and will fundamentally change the nature of how human beings interact or option two, it will fail. There is no in between. Despite the lack of depth present at the convention it appears as though we’re currently witnessing option one play out.
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I reposted with some thoughts but I wanted to add one more thing because you aren't the only OG I see saying this both here on on FinTwat. The OGs are, by and large, hiding in the whale lounge and going to exclusive private side events. Maybe that group needs to foot some of the blame since they're no longer holding down the fort so to speak? It's real easy to sit on roped off panels, hang out on pods, and yell at things from afar.
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Nostr is where the wild west is now, and its still got lot of legs to grow. Thank you @HODL for listening and being one of the early funders of @HiveTalk , when people didn't believe in it on Clubhouse. My what times have changed. In case you didn't know, we released a new version of hive this week at the bitcoin conference, come check it out at . Thanks for believing, lets celebrate it one step at a time, with suit vibe for better or worse 😂
Wow! That's quite the upgrade! Could this replace Riverside for podcasters? I like the calendar and note scheduling integration. Lists would be used for having a set group of people you invite to a room, right? Would it be possible to support encrypted lists? Wouldn't necessarily want to dox who is being invited, especially for private rooms.
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If there's one thing I've learned studying technology, it's the the inception and early designs of development impact its direction more than anything. There is a reason Ethereum has been utterly captured by corporate entities and a reason why corporate entities will inevitably have to fall in line and behave accordingly in order to participate in the Bitcoin ecosystem. Eventually it will become a symbiotic relationship. Bitcoin needs to be as valuable as gold in order to become a system that allows for the reconstruction of the internet so that it becomes user-oriented again rather than one governed by corporations and their algorithms
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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.
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That energy is simply a product of the conference you attended and the vibe those organizers cultivate… At our monthly meetups here in Paraguay 🇵🇾 we have 150+ plebs and newbs showing up and the energy is electric, the signal is high… and we are building the circular economy brick by brick… Bitcoin hasn’t lost its rebel edge… it’s just not to be found at a conf organized by shitcoiners 🫡 come visit us
You're probably 100% right. But I feel like its worth mentioning that a majority of plebs besides the suitcoiners had to go work in the fiat mines and couldn't make it out to Vegas. That said, id be pretty pissed if I went all the way out to Vegas and this was the vibe.
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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.
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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 →
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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...