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The lowest risk position to hold in #Bitcoin is to purity signal against governments and corporations. But here's the reality: #Bitcoin is nonpermissive. We can't stop groups from saving in #Bitcoin. Not corporations. Not governments. Saylor's posture, of #Bitcoin realism, takes more courage than Jack's, IMHO. Getting the trojan horse in through the gates takes huge personal risk and lots of work. Sitting back and negging is great for making anarcho friends online but does not advance game theory or shape it in our favor. The adoption path for #Bitcoin is not linear. It is occuring all at once. Power is ordered in the world, but still distributed. Governments and corps would plainly be the last to adopt private internet cash. SoV clearly comes first for them. But developing and deploying privacy-preserving payments is not blocking on Gov approval. We don't need permission to, slyly and in a round about way, introduce private payments into #Nostr and into real world economies. The developmenr of #Ark, for example, doesn't need to care about how govs and corps use Bitcoin. Think nonlinearly. Think nonpermissively. View quoted note →
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IT IS BOTH. It's natural for some actors to want to pigeonhole it into a box. But that doesn't change the fact that it is still a superior form of a medium of exchange, thousands of times faster, more secure and more private than any other. And its also the best form of money, property and store of value ever invented. We the people must push it as a medium of exchange since its not in their best interest. Which comes first the chicken or the hen? View quoted note →
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"I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking. Banks could issue digital cash with greater anonymity and lighter weight, more efficient transactions." -Hal Finney
The world is searching for the next reserve asset, and it is now defining the battlefield of East vs. West power struggle. In times when nation states don't trust each other, what neutral asset will they accept from the other? Not yuan. Not dollars. Etc. They are not neutral and their ledgers are not immutable. The US is leaning into BTC. Russia has declared gold. China is buying gold. The world will decide.
The ‘digital gold’ narrative is played out and doesnt add any valuable incentive anymore to the future of Bitcoin. At the start of the Bitcoin network it was needed to create the urgency for people to HODL Bitcoin and to gain exposure for the network. Yet after the Bitcoin ETF was introduced at the 10th of January 2024 the narrative became futile. Are only hope to keep the Bitcoin network going in the future is transforming Bitcoin into ‘A peer to peer electronic cash system’ just like Satoshi Intended. Don’t waste to much of your wealth on grifters in opensource development @jack but rather invest it in highly curated projects to achieve Satoshi’s objective. Tried to work with several people within Nostr to create dapps and innovate peer-to-peer electronic transactions.. they don’t care. They just want to grift for grants or become a ‘name’ in the Nostr community. Waste of time.