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130 sats \ 4 replies \ @SimpleStacker 29 Jul \ on: Where Them Cypherpunks At?! (Bitcoin Magazine, Shinobi) bitcoin
LMAO. I'd rather focus on non-violent disruptions... like, say, Bitcoin?
Well, I agree in principle. But Bitcoin isn't really disrupting much these days, is it?
And I say that as a staunch supporter of Jeff Booth's thesis about how it's going to happen.
Bitcoin might eventually change everything. But why are today's Bitcoiners so content living within the fiat system. They appear to have no desire to really change anything. They talk about change, but continue working for dollars, spending dollars, and denominating their life in dollars.
The prevailing fiat system SHOULD be provoking us into violence, not peaceful apathy.
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I agree, instead its just becoming more and more conformant and KYC based asset.
Personally I'm very concerned by bitcoiners rooting for bitcoin treasury companies buying more bitcoin.
No one has been thinking what this will do bitcoin if a "Black Friday of 1929" like event occurs in our stock markets. In such event, the stock traders will not give a shit whether the company is backed by BTC, gold or dirt. They will exit as soon as they can. Thus forcing these bitcoin treasury companies to liquidate BTC at any price. The aftermath will be catastrophic for bitcoin.
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Exactly.
On the other hand, if Bitcoin is being used widely for commerce, it would be the money everyone runs to during a Black-Swan.
Ultimately, it needs to actively threaten the current system. If it is not, it is failing.
I'm conflicted about whether it is threatening fiat in a sustainable way.
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GIEF VIOLENCE!
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