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All these new developments in Bitcoin are unsurprisingly creating a lot of great discussion among bitcoiners.
Many rightfully call out a lot of the BS that these new developments can foster within Bitcoin, but I also think some aren't seeing the forest for the trees, so to speak.
We all want hyperbitcoinization.
But what does that entail, exactly? At what point is the world no longer "fiat" and sufficiently "bitcoinized"?
In my opinion, Bitcoin is just now rolling through the gates of Troy.
Bitcoin's tech is reaching an inflection point, making it easier than ever for anyone to build on. Unfortunately, that also means shitcoins on Bitcoin and other fiat nonsense are easier than ever to implement.
Coinciding are the numerous spot ETF approvals on the way (more "bullshit"), establishing Bitcoin's presence in the mainstream financial world. You're technically always early to Bitcoin thanks to NgU (actually NgD) technology, but buying Bitcoin post spot-ETF approval is probably one of the first major moments in its history where you could be considered "late" to Bitcoin; if you didn't frontrun the institutions.
Whether we like it or not, we're living in the weird fiat-Bitcoin hybrid timeline that Bitcoin inevitably has to go through if hyperbitcoinization is to take place. I know it sucks; We can't just flip a switch and jump to a new monetary system overnight.
(Okay, maybe the suddenly stage will happen overnight, but for now, we have to embrace the gradually part.)
And while we're gradually on the way there, I think it's important to consider:
I know, not everything is good for Bitcoin. Obviously a global crackdown on Bitcoin instead of what's (probably) going to happen wouldn't be good. Of course shitcoining on Bitcoin isn't good.
But with every perceived negative I think comes a greater positive to focus on:
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Global regulatory crackdown gives Bitcoin the ultimate test to prove its value to the world. The harder they they try to control it the quicker it slips away from their grasp.
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And some may not agree, but shitcoining on Bitcoin is likely a natural step in Bitcoin's evolution. We're creating all kinds of financial assets (and not so) on Bitcoin. If it's gonna consume the financial system and all else, I'd assume that includes whatever irrelevant market share the crypto market tries to hold onto over time.
This stuff is coming to Bitcoin whether we like it or not. Bitcoin doesn't care about you.
Yes, a lot of it may be shitcoin-adjacent. A lot is just straight up shitcoinery. There are indeed active enemies of Bitcoin trying to infect it with nonsense.
Fiat boomers have likened Bitcoin to rat poison. And in a way, it is: Bitcoin is killing off fiat rats all around the world. But from another perspective, Bitcoin is the cure to what's already been poisoned.
Bitcoin is probably gonna get filled with loads of fiat junk over the coming years, and that is only natural. Bitcoin was birthed into a sick economy. Bitcoin's immune system is being tested.
And if you think it's already bad, just wait until Bitcoin is fueling the mEtAvErSe economy too (I mean, this wacky western LN stacker station here is just an early stage baby of that, right???).
Yep. It's gonna get cringe as a biological human enjoyer of the natural world. GO GET MORE SUN.
But despite the wild weird ride that Bitcoin's on; Don't worry. We're bitcoiners. We believe in it. We believe in decentralization. We believe in consensus of the many, not the few. We believe it's a fundamentally better decision-making system than the manipulated mess we live in today.
So, lean in.
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Yes, stablecoins are arriving to Bitcoin. At last! We can get humanity further away from physical money and closer to digital money. An inevitable step, if hyperbitcoinization is to happen.
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Yes, shitcoins are being built on Bitcoin. At last! We can suck the lifeblood out of altcoins at an even faster rate. An inevitable step, if hyperbitcoinization is to happen.
"But don't these developments just exacerbate fiat problems on Bitcoin, which is what we're trying to avoid here, right?"
That's why Bitcoin is the Trojan Horse.
We welcome shitcoiners, nocoiners, and all into Bitcoin. Graciously offer it as a freedom protocol to create freely with. Unconditionally support anyone's right to do smart and stupid things with it. Like the internet.
But what the shitcoiners and all fiat statists don't realize -- they're ushering in their own demise.
Just as we make Bitcoin more accessible and palatable to every facet of the world and all of its 8 billion individuals
Just as Bitcoin acquires enough prominence to dominate the world's economic activity
Just as Bitcoin proves that much of today's financial overhead isn't necessary
Is the "suddenly" moment that everyone realizes:
Any "fiat" incentives that new Bitcoin developments may support will die out via starvation (or turn into something fkn cool i dont know really) along with the rest of the fiat world. it's just a slow bleed out of demand as Bitcoin's renewed incentive structure points human activity elsewhere.
To a bigger and better world. Focused on things a little more basic than money.
Like c'mon guys, really? Money? Apes... All of you..