because it's not just about the protocol.
Scalability is also about dominant culture surrounding the network. When we scale but what you have is a bunch of NGU de-gens coming in, then there's incentive in a particular direction.
For example, I'm pissed off because the NGU priority has meant that there's no good privacy on Bitcoin.
In fact, strong privacy is actually against the NGU philosophy, because those big money people won't come in if Bitcoin is antagonistic to government regulation.
So we end up in a situation where Bitcoin actually wants to play nice with regulators for the sake of NGU. Either by doing something or by NOT doing something.
So we have a situation where it isn't just technical scaling, but it's also cultural social scaling and the direction and incentives involved.
Maxis will write it off by just saying that Bitcoin is inevitable, which is just an excuse to rationalize NGU and their fantasies of being the new 1%.
I donât have much to say in response because I donât know much when it gets to this specific topic, but I do think I agree with you. Usually what happens when anything nice is a bunch of people end up ruining it lol. Thatâs why I donât mind us gatekeeping Nostr, itâs nice here. I donât want degenerate incels from Twitter or any other dog shit social media platform to flock here. They can continue to cluelessly cry about censorship completely ignorant to the fact that the solution has already been built.
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couldnt you just use any of the other privacy coins if ngu isnt wanted, or even bch? why does bitcoin have to be for privacy?
its clear that the price is not related to its privacy benefits, and people that value that, will likely use something different.
I'm not trying to say that money shouldnt be private, but just saying bitcoin might not be that anymore. People have bought it more for NGU and will use other things for privacy.
also, i dont know much, just pondering đ
If the supply is fixed
and the ledger is transparent
and there's a lot of wealth invested in it
then naturally there is a lot of incentive to track value transfer.
so chain analysis becomes a billions and billions business.
as time proceeds the number of utxos without registered owners only decreases.
unless there are strong privacy tools people can use conveniently đ
It's easy to imagine BTC as becoming a surveillance chain
maybe it will have high fiat-denominated "value"
but it wouldn't be freedom money.
default privacy is an unfortunate necessary condition for freedom.
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or does sunk cost fallacy come into play? too invested into bitcoin to leave now and use something else for privacy.
or are there just no other good options?
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