I generally hold the view that in order to appreciate the value of bitcoin, humanity has to try basically every wrong answer multiple times and see why those things failed.
Discussion
Don’t forget breaking down the power structures that oppose BTC in the first place.
I agree. And over the last 50 years the fiat system has become incredibly intertwined. I’m curious if the bitcoin impact on these fiat systems and institutions plays out as a slow realization (unwinding) that still feels like gridlock, an jubilant explosion enabled by embrace, or a catastrophic implosion fueled by denial.
Embracing the mistakes and learning from them is crucial on the path to appreciating the true potential of ₿itcoin 🫂💜🤙
Most will have to need a Money of Last Resort, like Bitcoin. In order to understand it.
A commodity that is truly unrestricted private property
So adoption is another 50 years away?
This applies to all fictional currencies, not just Bitcoins
"The rug pulls will continue until self-custody improves" - nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
I think it’s the same idea, yeah.
But not just self custody, but also like, “what about a Turing complete blockchain?” or “what if we amass a ton of capital to try to physically link money and identity to every human?”
If we were to re-run this era multiple times, I think these sorts of ideas would always come up. And rather than just be put aside, they will always be tried. And when they fail, they will be tried in a different way. It’s an iterative test to arrive at what works, rather than everyone realizing ahead of time what works.
Humility is a necessary ingredient in the mix as well
Reminds me of a centipede that’s reversed on itself. The front is already walking the new path, but the body is still heading the wrong way. Eventually the rest will catch up.
Poeple even do not know what definition of word inflation is, I pray for one day they will realize it.
The majority at least. Failure is a prerequisite for success!
True with most freedom tech
Pain is one of the best teachers.
As Churchill described Americans: One can rely on Americans to do the right thing in the end, after they've tried everything else.
I’m coming to this realization also, unfortunately. On the bright side, there’s a chance that the ones that need it most understand it first.