I don't want to be rude, but:
Bitcoin is following the game theory that I described. That's a good thing. That's why we had to win the blocksize war
Do you expect your long piece to convince me to i...
I'm saying you have been psyoped.
Those incentives stall out and don't have anything of substance sustaining them except a banking cartel that captured bitcoin and drove its price up to kill off competition to their monopoly.
In 2 more 10x runs the market cap is greater than the total global wealth. At that point any increase is verifyably overpriced.
If we suddenly adopt the lightning network and use it as MoE, we will be reliant on custodial banks as the limited block size will prevent sovereign utxo ownership. We will use bitcoin, but pay fees to bankers not miners.
What drives adoption? Wjen the enshittification of Bitcoin becomes apparent and it becomes a tool to entrench the establishment, what maintains its price? At that point any economic activity outside of bitcoin detracts from its value. The value proposition of any competing and functioning currency has a lot more potential and the house of cards fails.
Only totalitarian regulation can save it and force servitude on everyone.
This dystopian future can be avoided if Bitcoin develops steadily acros multiple projects backed by genuine economic value.
Those incentives stall out and don't have anything of substance sustaining them except a banking cartel that captured bitcoin and drove its price up to kill off competition to their monopoly.
In 2 more 10x runs the market cap is greater than the total global wealth. At that point any increase is verifyably overpriced.
If we suddenly adopt the lightning network and use it as MoE, we will be reliant on custodial banks as the limited block size will prevent sovereign utxo ownership. We will use bitcoin, but pay fees to bankers not miners.
What drives adoption? Wjen the enshittification of Bitcoin becomes apparent and it becomes a tool to entrench the establishment, what maintains its price? At that point any economic activity outside of bitcoin detracts from its value. The value proposition of any competing and functioning currency has a lot more potential and the house of cards fails.
Only totalitarian regulation can save it and force servitude on everyone.
This dystopian future can be avoided if Bitcoin develops steadily acros multiple projects backed by genuine economic value.
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