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His shitcoining might be good for us. We can continue hodling and working on adoption in our sly, roundabout way, and wait for the fiat world and their shitcoins to crumble.
Yeah, pretty much my take.
My additional take is that: If shitcoining kills bitcoin, then it was dead to begin with.
I think 80% of panic over the EO is overblown and we just need to chill and allow game-theory to keep working.
The most important thing was ending Chokepoint 2.0 and ending SAB-121. Simply allowing bitcoin/stablecoins to be used normally throughout the economy is 100% of a win for us.
The only thing we are missing is: Capital Gain reforms of BTC. I can see 2 likely ways this proceeds:
  • Tax-free gains after some timelock (1 yr for instance).
  • "de minimus" exemption of $500-$900 per transaction
Tax-free gains after some timelock (1 yr for instance). "de minimus" exemption of $500-$900 per transaction
These would greatly support Bitcoin becoming more of a medium of exchange and boost the emergence of circular economies.
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too much statism is dangerous for Bitcoin
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of course the panic is overblown because it's libertarians who have Trump derangement syndrome
NPC behavior
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