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215 sats \ 2 replies \ @ihatevake 20 Oct \ on: Is Bitcoin already freedom money? AskSN bitcoin

Bitcoin is already freedom money, anyone can access it and use it.

But it has grown stagnant, both from a technical standpoint and general adoption:

  • There's only been 1 soft fork in the last nine years, whereas the prior six years, we had 8 soft forks.
  • The lightning network has completely failed to achieve scale, and to be honest, ark will be similar
  • We grew from 0 to $20k in the nearly eight years from inception to December 2017; in the almost nine years since then
  • The adoption is now coming in the form of custodial options like ETFs, highly leveraged corporations (MSTR, ASST), or derivative financial products (STRC). The ethos of "not your keys, not your coins" is dying.

Worst of all, the community has turned toxic and insular. Everytime I've voiced concerns privately, I get nothing but ridicule or apathy.

In its current state, I'm not very optimistic about bitcoin's long term prospects, unless there is a dramatic shakeup and re-invigoration of the technical process (merging multiple covenant proposals, drivechains, and so forth).

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113 sats \ 0 replies \ @ihatevake 20 Oct

*in the almost nine years since then, we've only gone from $20k to $80k

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111 sats \ 0 replies \ @Scoresby OP 20 Oct

There is definitely a sense of loss of energy in Bitcoin.

However, I'd contrast that with being able to buy stuff with lightning at a good number of places (both brick and mortar and online).

I buy esims, pay for DNS registration and web hosting, and I've been paid in bitcoin.

All the frustrations showing up in the comments of this post are real, but I find that I am still (unreasonably?) optimistic about increasing adoption.

The question that really gets me is how much more adoption do we need before we say it's good enough?

Many seem to think it is more, but hard to know how much more.

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