The time will come, in the not-so distant future, when Bitcoin will be everywhere. When we will be able to use sats to pay for a beer at our local pub, or half across the world. When every bank will offer BTC accounts, and every asset manager will offer BTC investment plans. A time when mass adoption will be a reality. For the naïve observer, it will look like the fight it's over. It will look like Bitcoin has finally won. That, will be their honeypot.
Mass adoption will come from legacy entities offering POS systems that accept Bitcoin and send the sats directly to the merchants BTC account. It will come from banks offering 3% FIAT yield on BTC saving accounts, and FIAT cashbacks on your BTC expenditures. The path to mass adoption will be paved by FIAT/BTC dual credit/debit cards issued by banks. It will use LN/L2 infrastructure set up Visa, MasterCard and other legacy payment processor.
For most people, Bitcoin will be so embedded into the legacy financial systems that they won't be able to tell them apart. They will see that depositing their BTC into their bank shaves a 0.5% off of their mortgage rate, and that their credit score increased when they opened a BTC savings account. Merchants will see that POS systems that accept Bitcoin are cheaper and their fees are lower. They will see their margins are increased if they accept BTC payments, and even more if the payment is settled in FIAT on their end. They will see all of this, but they won't know why.
#Bitcoin #macroeconomy #thentheyfightyou #reflections #longformat #plebchain
quoting
nevent1q…m70t
The Fight Won't Be In The Shadows:
"First they ignore you,
then they laugh at you,
then they fight you,
then you win"
This is a well know quote around this space. Countless times repeated, it has almost become a mantra for many bitcoiners. And yet, a question remains: How do they fight you?
Many, myself included, assumed that the fight would come in the form of ostracism. We assumed that our enemies would use their powers, those of nation-states, to block the access of their citizens to on-/off-ramp mechanism - when not directly banning and illegalizing the possession, paticipation and use of the Bitcoin network.
Such form of attack, however, is futile. By hindering the flow of money out of the FIAT system, Bitcoin's adoption could be pushed back for quite some time, maybe even decades, but never stopped. Brewed in a environment full of misfits, with core principles deeply rooted in self-sovereignty, and shielded by cryptography, Bitcoin was born in the shadows. As such, it cannot be stopped by casting it back into the shadows. If anything, that'd make it stronger, furthering the development of privacy enhancing features. Even today, half of the Lighting Network is run over Tor. Restrictions would only mean more LN, more RoboSats, more VPNs, more Tor, and, ultimately, more people pulled into the shadows.
The events of the recent days, have made me realize that we won't be fighting in the shadows. Our enemies, following the teachings of Sun Tzu, have chosen the terrain that it's more favorable to them, under the light.
The attacks won't be bans and blocks. The attacks will be ETFs from investment managers, custodial services provided by banks, paper Bitcoin, fractional reserves, re-lending, and the whole plethora of FIAT-fuckery techniques. The fight will happen in plain sight, where they control the narratives pushed by the mass-media. It will happen on the parquet floors of the financial markets, on the high offices of the banks, on the halls of their elitist forums and the corridors of the parliaments; where they know how to manipulate, deceive, lie and lobby. We will not be fighting for not being pushed out of the system, we will be fighting for not being phagocytized by it.
#Bitcoin #macroeconomy #thentheyfightyou #reflections #longformat #plebchain