All of it is downstream.
• Private payments are meaningless if your value can be confiscated through arbitrary counterfeiting.
• Settlement assurances don’t exist if the supply isn’t scarce.
• Ownership of a UTXO means nothing if its relative value has no guarantee whatever because the monetary unit is arbitrarily defined by some other institution.
• Decentralization doesn’t matter if it doesn’t protect the rules for *what a bitcoin is.*
It makes no difference if people understand it or not. It’s still the simple truth. The $100 trillion value proposition is to create a verifiable, state resistant monetary system. Literally nothing else matters, nor even works if that isn’t secured.
Any particular person’s failure to understand this is irrelevant. As long as #Bitcoin continues to be 21 million, all the rest remains possible.
TheGuySwann / Guy Swann
npub1h8…6rpev
2024-05-05 15:46:52
in reply to nevent1q…ck6u
Author Public Key
npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpevPublished at
2024-05-05 15:46:52Event JSON
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"pubkey": "b9e76546ba06456ed301d9e52bc49fa48e70a6bf2282be7a1ae72947612023dc",
"created_at": 1714924012,
"kind": 1,
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"content": "All of it is downstream. \n• Private payments are meaningless if your value can be confiscated through arbitrary counterfeiting.\n• Settlement assurances don’t exist if the supply isn’t scarce.\n• Ownership of a UTXO means nothing if its relative value has no guarantee whatever because the monetary unit is arbitrarily defined by some other institution.\n• Decentralization doesn’t matter if it doesn’t protect the rules for *what a bitcoin is.*\n\nIt makes no difference if people understand it or not. It’s still the simple truth. The $100 trillion value proposition is to create a verifiable, state resistant monetary system. Literally nothing else matters, nor even works if that isn’t secured.\n\nAny particular person’s failure to understand this is irrelevant. As long as #Bitcoin continues to be 21 million, all the rest remains possible.",
"sig": "9c100a43e8370acd80be93d979f48a61f5dd6a4c74f15f4b7e31620302d09b55006da76f9cb10cfee17ff7b169a9da9f1bf8670604ad169d9a27b123f9ced805"
}