resistancemoney on Nostr: Just got off a call with a bitcoiner working with some cutting edge projects — L2s ...

Just got off a call with a bitcoiner working with some cutting edge projects — L2s and more. We agreed on this: the greatest threat to bitcoin isn't the state, or anything like that. It's complacency.

Suffering is probably the only way we overcome.

Price pumps in the near future may be dangerous for bitcoin's long term future. They'll boost complacency. When we're fat and happy, we don't invest in scaling and privacy and extensibility.

Unfortunately, near term price pumps are also the most obvious path to better funding for bitcoin research and development. We have no token to print at zero marginal cost, no foundation, no company, no lawyers, no marketing office, no trademark holders, no CEO.

A real dilemma!

What kind of suffering could do the job here? I'm afraid many of my readers will hate the answer. It can be expressed in one word. No, not 'dump'. It's 'flippening'.

Imagine the seething, the cope, the fury, the wild cognitive dissonance, were eth to flip bitcoin.

Now that's suffering.

Suffering sucks, of course.

But if I learned anything from all those Greek tragedies, it's that suffering is also the only path to wisdom.

Some will be quick to add that eth has already flipped bitcoin — in daily fee revenue, in L2 proliferation, in TVL, in daily volume (when measured in just the right way).

I reply: sure, but we always had the market cap cope ready to hand. What if that were gone?

Suffering.