Bitcoin. Not crypto. Not 'blockchain' technology. Not 'this technology'. Not 'innovation' - at Coinbase or Consensys - although I respect what Coinbase is doing with Lightning now...
Why is this taking so long to get right? Why is it so hard to understand that a 'blockchain' with no nodes and no decentralized users to run them.... is NOT a blockchain. It's a centralized server. While even call it a 'blockchain' at all? A blockchain without decentralized nodes might as well be "run on a 500$ website" (quoting J Song)
How many plebs or pleb-like users run Tether/USDT nodes? How about Tron nodes? Or Cardano nodes? or Algorand or countless other ******** nodes? To say nothing about memecoins or the next pepecoinfrogrocket tokens that are created in significant numbers each day.
The 4th largest token on coinmarketcap is... the BNB token which is a centralized token created by an exchange. Can plebs and users run their own BNB nodes, resist change to the protocol, and make sure it's decentralized? If not it is scandalous... How can an exchange create and run their own tokens, sell other tokens, and avoid conflicts of interest?
And tokens that aren't decentralized, not to mention not proof-of-work can't be:
- nation-state resistant
- resistant to change or
- a good store of value long-term.
A 'blockchain' needs nodes run by many users with diverse incentives... nodes that are the heart of soul of a 'blockchain' and without decentralized nodes and LOTS of them run by fanatical users it's all just a big scam.
How is this a secret somehow - and why are there so few places to spend Bitcoin?
I've got a few sats to spend, I run my own lightning node (LND) it's easy to do and yet... ¯_ (ツ)_/¯
There's Stacker News, Nostr maybe... but it's like hey here's a 10-sat zap for your comment it's really really niche. I rarely (if ever) use Twitter and I don't like it... still why can't Twitter somehow integrate with Lightning?
I would much rather that bitcoin be transactional, with places to spend and earn sats, than the number-go-up. If more people want to use Bitcoin as 'better money' (because it essentially is) especially through lightning then the price will "go up" as there is only so much Bitcoin available. However one has to go out of their way to 'use' Bitcoin right now... and Nostr and SN, as awesome as they are right now are limited/for a very niche audience.
Like a lot of people/hodlers here I've 'made money' owning bitcoin - you know the usual yada yada number-go-up BS but honestly who cares. I refuse to sell any and have NEVER sold a single sat on an exchange. Not one sat. Instead I want to spend it directly and purchase goods and services that I need at good businesses that provide value and yet... ¯_ (ツ)_/¯
Where are the businesses? Businesses period (that provide good value or don't)
I look at btcmap.org when I get a chance to travel are there are very few places in most cities that accept Bitcoin. There are a few exception cities (Big ones in the US and Europe) but even then it's very limited. Or it's like 'Bob's pest control' and if I don't need pest control then ¯_ (ツ)_/¯
Bitcoin is about more than price and lightning works (yes it is NOT perfect but overall it does what's required). I am NOT a technical ie heavy-command line user but even I can monkey-up an LND node no command-line-required and send/receive sats for cheap.
Where is everyone?
I hear ya & feel ya. Things are moving in the right direction, albeit slowly. Just a few years ago we didn't even have nostr, SN and Fountain (just to name a few examples) to do V4V properly. Now we're getting there, but we are still on the fringes.
The businesses are also coming, but not because fiat businesses are pivoting to Bitcoin. Because Bitcoiners are starting their own. The old system will not fix itself from within. We have the option to outcompete them with a whole new monetary system as the foundation.
'still on the fringes' yes that's a good way to put it.
It feels like things are definitely coming along but on the periphery. Nothing says Bitcoin 'is the new global money' 'pay attention' it takes education to get to that point.
Having said that... MSTR outperforming the rest of the S&P500 certainly helps
It's really difficult feeling like I have been given a beautiful solution to most of the problems people talk about... And they just won't listen.
I rarely if ever mention to Bitcoin to people, outside of 1 or 2 close family members. And they probably think I'm a little crazy LOL.
The few people I mentioned it to in my peer group
one said "I don't do that"
another laughed
One said he bought 10$ of Bitcoin (good for him) but said he liked shiba inu so
¯_ (ツ)_/¯
Yeah. I have given up with my closest friends and family. What's funny, is I feel like newer connections I have made are more open to it.
Start a bitcoin maxinalist meetup in your town. You will meet amazing people and it will lead to great opportunities.
I'm working on that. I live in a small town right now basically... so I'm not sure there would be a lot of traction. Looking to move, which would definitely help with the loneliness.
There are also, in my opinion, some privacy concerns with this that I haven't fully thought through yet. Not sure I want to be 'the bitcoiner' is a small town LOL
Everyone is still catching up.
For the normal person, bitcoin is bitcoin.
Lightning doesnt mean anything to them.
it is lonely when the vast majority of people think you are a criminal or a lunatic for even having bitcoin, but we have nostr and places like this to wax lyrical with fellow maxis
Bitcoin taken to its logical conclusions... involves some kind of 2nd or 3rd layers like lightning. I don't know it seems logical to me ¯_ (ツ)_/¯
I just hope/wonder that we're on an upward trajectory - I mean I think we are but it's important to discuss the big picture some days.
We are living in a time of currency wars. Bitcoin is relatively young compared to fiats. Bitcoin is a form of money designed to be used in an adversarial environments, that's why financial hardship, such as fiat inflation, is the strongest factor that is capable of driving bitcoin adoption.
People sometimes use the phrase 'financial freedom' in their relationship with bitcoin. However I think this is misleading... because it implies some kind of increase in purchasing power.
I think 'financial freedom' REALLY means freedom, as opposed to repression ie financial repression.
According to wikipedia: Financial repression comprises "policies that result in savers earning returns below the rate of inflation" to allow banks to "provide cheap loans to companies and governments, reducing the burden of repayments."[1] It can be particularly effective at liquidating government debt denominated in domestic currency.According to wikipedia:
Financial repression comprises "policies that result in savers earning returns below the rate of inflation" to allow banks to "provide cheap loans to companies and governments, reducing the burden of repayments."[1] It can be particularly effective at liquidating government debt denominated in domestic currency.
In other words, bitcoin is money free from the state, allowing the individual to spend and save free from the burden and flaws of the State. Bitcoin's inflation rate is separate from that of the state or 'fiat' money, and so allows individuals a savings account that is separate from government debt and inflation. Personally I think most people will figure it out, eventually.
When I first got in back in 2016 I thought that once Bitcoin reaches 1 trillion and sits above that consistently it would be a big enough market that people would take it seriously and I was wrong, I don't even think at 10 trillion the majority will take it seriously
I do think that Bitcoin hasn't really translated into commerce yet, as part of private company balance sheets to try and sure up your business and remain competitive, i think that's where the growth will come first rather than people spending and natively transacting in Bitcoin.
Its weird for me to even say that because before Saylor this idea didn't even come to mind, so who knows what the next trigger for demand will be?
As for individuals moving to Bitcoin, I don't know how people are oblivious to the pain of dealing with fiat that they're not willing to look for an alternative, nor how much pain they need to feel to get there
everywhere there are comments from people saying 'look at the prices' 'they have gone up so much' 'when do they come down'?
a huge number of dollars were printed over the last several years, and while that wasn't the only reason for inflation... people can't make the connection?
bitcoin has the economic properties of gold or real estate - but in monetary form. it would seem logical then that people would transition to it for saving but eventually spending too... you know 'spending those savings' when they need to. and businesses would start offering it as a payment option.
There's a good point here. Do bitcoiners create competitive products and services? Or are we just waiting for someone to accept our sats?
At least Proton is accepting it for email and VPNs etc. Plus some of their other services. Bitrefill is pretty good... although buying gift cards for things (everything?) may not be practical yet.
Bitcoin imo is pretty darn competitive... but it really takes education to use to its fullest.
Maybe on the digital side. But what about the physical? What bitcoiner is going to get into farming when they have enough purchasing power to retire?
I think it's just going to take a long time. If the volatility goes down, people will be less afraid and willing to accept it as a payment.
If you build it, they will come... Or so I have heard. I am so ready. I have felt lonely here for 7 years now.
Hang in there. It seems like slowly slowly the powers that be are figuring out what Bitcoin is. There is a ways to go but the solution is definitely out there for people.
Normies in the western world don’t like having to think about things.
Bitcoin will have to chosen for them and they will miss the majority of appreciation along the way sadly.
I understand. Although it pretty much is right out in the open now though?
Although in my opinion twitter doesn't help (that's why I deleted it). Too much noise without really being helpful most of the time.
My cousin was impressed by the speed and low fees of on chain transaction. I didn’t mention lightning or liquid
Maybe if you realized that Bitcoin wasn't perfect, could learn from some of the other blockchains, and could use some updating especially on the on-chain side, then it wouldn't be so lonely. Bitcoin will never replace fiat when it has flaws that fiat doesn't have and it's benefits most people don't care about.