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50 sats \ 0 replies \ @028559d218 31 Aug \ parent \ on: The Fight for Bitcoin Privacy Has Truly Begun bitcoin
Do a basic google search on bitcoin -
The vast majority of the results that come up are articles about its 'price price price'.
Not about the hashrate, not about its decentralization, not about necessarily running a node (although there are many resources on this)... not about the mempool, not about its block construction or even where to spend bitcoin or how to custody it...
Not about new bitcoin software or signing threshold schemes - nope. Just price price price what is it going to do - go up or go down. That's it. So and so trader says 'it's going up' or this or that trader says 'it's going down' - some trader 'breaks their silence' and 'they're worried'. Because of some stupid chart? Where was that trader a year or more ago?
And I can't help but feel this type of coverage is for the idiots, whoever they are, that keep their sats on an exchange. They don't hold their own keys, they don't run a node, they aren't using bitcoin to actually pay for things, they aren't using lightning in any meaningful way if they use it at all... it's just 'hey what's the price doing'. And so the only way they interact with bitcoin is to sell it with the click of a button, which is not on-chain but instead just an exchange database. They don't make bitcoin transactions themselves so... I guess that's why the only thing they know is the price? I mean, do they check mempool dot space to see what's going on?
In many ways the price is the LEAST interesting thing going on with bitcoin. It is a volatile currency that goes up and down in value but that is not really a reason to have it... in my opinion its inherent qualities and network effects is what makes it valuable NOT the fiat price. And yet... look at the Google search results it plays right into the hands of 'speculative store of value' instead of medium of exchange.