Reading your piece, I understand your analysis. Bitcoin forces honesty, and it will increasingly become embraced among private and public institutions because of necessity more than virtue.
I somewhat agree with that.
My own intuition, however, is that many people are using significant time and resources to try to "orange pill" the state or its various representatives in what will end up mostly a symbolic measure.
The network improves as more nodes come on line, more transactions are processed, and more creativity is applied to the structuring of everything above (lightning, ark, etc.).
Fundamentally, though, the "honesty" of money argument (as Zechariah's flying Scroll) is more readily applied in the developing world and will take time to root elsewhere. In this sense, I accept the Schumpeter cycle that it will take some sort of demise or deep depression to restart the engine and move large institutions onto honest money (though the smart ones will have already pivoted).
As long as our focus, as users of bitcoin, developers, educators, and activists, remains on individuals empowering themselves independent of the "bitcoin strategy" of the state, we are better off.
Yaël
npub15d…z3lfc
2024-10-01 07:27:20
in reply to nevent1q…f0nm
Author Public Key
npub15dnln6cukw3yrflnv3hnrntdt9amh0uw466u6tns05ymqp3nal4qzz3lfcPublished at
2024-10-01 07:27:20Event JSON
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"content": "Reading your piece, I understand your analysis. Bitcoin forces honesty, and it will increasingly become embraced among private and public institutions because of necessity more than virtue.\n\nI somewhat agree with that.\n\nMy own intuition, however, is that many people are using significant time and resources to try to \"orange pill\" the state or its various representatives in what will end up mostly a symbolic measure.\n\nThe network improves as more nodes come on line, more transactions are processed, and more creativity is applied to the structuring of everything above (lightning, ark, etc.). \n\nFundamentally, though, the \"honesty\" of money argument (as Zechariah's flying Scroll) is more readily applied in the developing world and will take time to root elsewhere. In this sense, I accept the Schumpeter cycle that it will take some sort of demise or deep depression to restart the engine and move large institutions onto honest money (though the smart ones will have already pivoted).\n\nAs long as our focus, as users of bitcoin, developers, educators, and activists, remains on individuals empowering themselves independent of the \"bitcoin strategy\" of the state, we are better off.",
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