I’ve engaged with enough professional shitcoiners, or shitcoin-adjacent tradfi deliquents, to have noticed a hilarious pattern to their butthurt reaction to nobody really caring about ordinals, BRC20, or whatever they are migrating to of late.

keep in mind what a monster breakthrough shitcoining on bitcoin would be to their business models, btw (which I may or may not get around to writing up soon - this isn’t it, fyi). given shitcoinery at large is finally fading away, this spins up another 5+ years of complete and utter nonsense marketing and the FOMOing management fees that follow spouting this bullshit confidently enough.

what they’ve converged on to explain resistance - apathy, even, given I wouldn’t say I care one way or the other. yay fees! - is the idea that bitcoin development works in a top-down manner and has “priests” (they like this kind of religious vernacular, which I’ll come back to) who decree what projects will and won’t be worked on.

the level of projection here is astounding. it’s an open network. you can work on whatever you want. we are talking about ordinals NFTs in the first place because you already did it! you ran the scam! you got out with the money! and you’re upset that … you weren’t congratulated for it more?!?

it’s completely insane. contrast that to the alternative: they fucking despise lightning and there is no end of deliberate misrepresentations they won’t tell about it to aggrieve how hurt their butts are. obviously lightning isn’t perfect (nothing is perfect - it’s engineering, not art or, as they are more used to, performance art) but notice that isn’t their object level complaint because they don’t have the technical understanding to frame it that way. they describe their complaint as if it were anthropological, something like: the “priests” decreed all scaling efforts will focus on lightning, and lo, it was so.

again, it’s an open network (this time on top of another open network). I can’t tell you how many times I’ve spoken to founders who are building on lightning because, unlike whatever crypto ecosystem they already spent 3 years toiling away in achieving nothing of practical value but doing free marketing to unscrupulous financiers, lightning actually works. they appreciate the design methodology. they *choose* to work on it. it is as bottom up a phenomenon as could be imagined and yet to the reactionary shitcoiner, it must be top down. how can it be explained any other way? what else could make people want to work on an ecosystem with no money printing if not central and ideological coordination? iT dOeSnT mAkE aNy SeNsE!

(fun fact: now they are learning what nostr is, they recycle all these same patterns of thought. "why would you work on decentralized social media? don’t you know we tried that in crypto? don’t you know you can issue tokens on bitcoin now?!?”)

so people aren’t using one free and open tool because they’ve been told not to by their church, but they are using another because they have been told to by their church. it couldn’t possibly be that they’ve decided to work on one and not the other because they *understand how they work and what potential value they will have long term, not to their unscrupulous financiers, but to their users and to the world.* nope, couldn’t possibly be that. must be the religious dogma.

now obviously we can expect object level discourse agitating for defi, DAOs, and all that kind of nonsensical bullshit. but, again, it’s frankly a more anthropological examination that fascinates me. what is it they are saying about the people involved? is there a social analysis rather than a (quick and boring) technical one?

self-congratulatory as this unavoidably is, what they hate is the raw meritocracy. money means nothing, reputation means *something*, but by and large ideas stand on their own. there is a fascinating subtlety here around the human (i.e. anthropological) response: because this stuff is technical and has to *actually work*; because it isn’t just aesthetic; because it serves a purpose and is validated in the real world; there is some objectivity to what is and is not a good idea. now, you can’t deduce it. it isn’t math. there will always be pros and cons. but it isn’t just taste either. some things *objectively* work better than others. there is nothing “open minded” about praising poor engineering.

honest, intelligent people attracted to the intellectual meritocracy will, therefore, on a long-enough time horizon to allow for battle testing the ideas, for teasing out pros and cons to a satisfactory degree, tend to agree on which are the best.

now, these people have bad ideas and get mad they can’t buy or shame or whatever else the meritocracy into getting onboard, so they project all this crap about “clergy”, “anointed”, and whatever other religious vernacular fits their cargo cultish misunderstanding of what it is they are looking at in the first place. heathens to this church are treated as brave, independent trailblazers, fighting back against an intolerant majority (by freely building one kind of free stuff over another 😕). that almost everybody independently concludes that these ideas are bad, because they proudly have rigorous standards for evaluating merit, BECAUSE THIS STUFF MATTERS AND IS BIGGER THAN YOU … they see as groupthink; as monotonicity; as the hierarchical broadcast of dogma.

and by the way, build to your heart’s content. as mentioned above, I don’t particularly care, and I think most people are the same. just don’t demand I like whatever bad idea you are working on. the problem is not “the builders” of reformist lore, it is their financial exploiters, of whom this is all downstream …

they all come from a world in which bullshitting hard enough will tend to yield a positive return in the end. obviously, in such an environment, everybody’s bullshit contradicts everybody else’s and yet everybody still wins. the idea of meticulously working to weed out bullshit and narrowing in on the actual truth is extremely uncomfortable if this is all you have ever known, and what you now expect to find.

as alluded to above, the funniest part is the projection. everything I’ve just sarcastically outlined is in fact its very own meme. it circulates in these cliques and infects any host susceptible to non-explanation for this culture shock. *it is not arrived at independently via rigorous reasoning*. it literally is the hierarchical broadcast of dogma.

and it’s ramping up for another 5+ year wave. enjoy! 😃🥳

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Bookmarking this for when i become not illiterate and retarded

lol, nice glitch from Damus on this one. a note so nice I posted twice!

In short - bitcoin

really good analysis of the psychology of shitcoinery and why it is hilarious that they are so oblivious to how obvious their shit is once you start to understand the machinery of psychology, and yet the majority of it just slides on through day in day out.

eventually the aggregation of shit will fill up the tubes and they all will suddenly find themselves in quicksand. i look forward to that day.

(if you live to see it)

i'm gonna live to see a lot of things. i've known that since i was small. a lot of you will see it too.

Brilliant stuff from the allen. And enough sentences starting in lower case to make your eyelid twitch….

“what they hate is the raw meritocracy. money means nothing, reputation means *something*, but by and large ideas stand on their own. there is a fascinating subtlety here around the human (i.e. anthropological) response: because this stuff is technical and has to *actually work*; because it isn’t just aesthetic; because it serves a purpose and is validated in the real world; there is some objectivity to what is and is not a good idea. now, you can’t deduce it. it isn’t math. there will always be pros and cons. but it isn’t just taste either. some things *objectively* work better than others. there is nothing “open minded” about praising poor engineering.”

#Bitcoin

millennial lower case ftw bruh

I suspect this narrative about 'high priests' comes from the conversation surrounding the relaxation/alteration of standardness rules and how core devs responded to that on the GitHub comments section.

Though the existence of those rules have technical justification, it takes a lot for someone coming from the smart contract ecosystem to understand why certain things are the way they are in Bitcoin. Calling it a cult is low-hanging fruit to express their frustration I suppose.

I have some thoughts about LN.

I consider it a long-term project and we're headed in the right direction, mostly. It will take time and I am more than willing to be patient as it should be built right, not fast.

But I have some short term grievances with certain things happening on the network. TARO, L402, etc. to me as a regular LN user comes lower on the list of priorities vis a vis things like PTLC's, async payments with Bolt12, dual funded channels and a protocol-wide standard for node/channel backups as its complicated for regular users.

Maybe it's difficult when you have so many implementations with a huge diversity of opinions and interests.

They just don’t get it. Probably because they never actually tried. Piggy backing and virtue signaling is as far as they’re willing (or able?)to go.

My favorite part, “ and by the way, build to your heart’s content. as mentioned above, I don’t particularly care, and I think most people are the same. just don’t demand I like whatever bad idea you are working on. the problem is not “the builders” of reformist lore, it is their financial exploiters, of whom this is all downstream … “

Do you need to write a book every post?

It's refreshing to see people invest time in their notes. Long form is interestingly somewhere between an article and a normal note. It's definitely a nice long middle finger to the character limit on X.

It's not about what you do so much as to how you do it.

In summary, we’re witnessing the wailing and gnashing of teeth from the extractive class, where for the first time, they’re getting a glimpse of the hint of a possibility that they too may actually (one day, NOT today) have to become productive

ABSOLUTE TERROR FOR THE EXTRACTIVE CLASS

As someone who hasn’t touched Twitter since joining the Nostr revolution all this bullshit just passes me by now. It’s great people like you give us all a window into that world or we become a massive bubble here, safe in our bitcoin maxi world. Great read btw!

Why do you have to be so tribal?

Can't you be open minded?

😆

I enjoy it when people project their distortions & assumptions for the whole world to see. I'm often a bit confused when people can't see them for what they are, distortions.

Bitcoin to "Cryptos" is like Judaism to "Abrahamic" religions.

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

This is the most will written #nostr note/opinion piece I have ever read.

I'm sitting by myself and scrolling #amethyst, start reading a couple paragraphs in and I could sense their intensity and passion for the subject so I had to read the whole note aloud (to no one 🤣) and my gawd it did not disappoint. 10/10 wow wow wow

Somebody #Zap this mofo...

😎☢️🤙👏👏👏👏

#[0]

We’ll know the shitcoinery is truly over when Chris Dixon leaves A16Z.

I have a feeling A16Z is behind >90% of shitcoin funding... seems afroturfed AF

A16z, also known as Andreessen Horowitz, is one of the most active and influential venture capital firms in the cryptocurrency industry. The firm has invested over $7.6 billion in crypto and Web3 startups across all stages, including early-stage seed investments and later-stage growth rounds.

Some of A16z's most notable crypto investments include:

* Coinbase

* OpenSea

* Dapper Labs

* Polygon

* Solana

* Avalanche

* Neon Labs

* Uniswap

* Aave

* MakerDAO

* Compound

* Synthetix

A16z is known for its aggressive investment strategy and its willingness to back early-stage startups with disruptive ideas. The firm has also been a vocal supporter of Web3, a new vision for the internet that is built on blockchain technology.

In May 2022, A16z raised a record-breaking $4.5 billion fund for its fourth crypto fund. This fund is the largest individual crypto fund raised in venture capital history, and it is a testament to A16z's bullishness on the future of the cryptocurrency industry.

A16z's crypto funding has had a significant impact on the development of the industry. The firm's investments have helped to fuel the growth of many of the leading crypto startups, and its support for Web3 has helped to raise awareness of this new and emerging technology.

Here are some specific examples of how A16z's crypto funding has impacted the industry:

* A16z's investment in Coinbase helped the company to become the largest cryptocurrency exchange in the United States.

* A16z's investment in OpenSea helped the company to become the leading marketplace for non-fungible tokens (NFTs).

* A16z's investment in Dapper Labs helped the company to develop NBA Top Shot, one of the most popular NFT projects of all time.

* A16z's investment in Polygon helped to scale the Ethereum network and make it more affordable to use.

* A16z's investment in Solana helped to develop one of the fastest and most scalable blockchain networks in the world.

A16z's crypto funding has also helped to attract new investors and developers to the industry. The firm's success has shown that there is a large and growing market for crypto and Web3 products and services.

Overall, A16z has played a major role in the development of the cryptocurrency industry. The firm's investments have helped to fuel the growth of many of the leading crypto startups and has helped to raise awareness of Web3.

You must be a bot that's programed to list shit I already know.

Atleast your better than nostr:npub13wfgha67mdxall3gqp2hlln7tc4s03w4zqhe05v4t7fptpvnsgqs0z4fun as he is a bot that is programmed to only say unfunny things

Nope, real person that just learned something about you I didn't know.

Uz a JERK

Still not convinced...

Actually, I reread your post... Now I think you're human, because no computer has ever thought Web3 had any value whatsoever

I enjoy your posts a lot more on Nostr, Lyn, ngl. ;-)

fwiw I believe the doors to Bitcoin are closed until:

1) I become disillusioned with fiat money/monetary system

2) I understand the Cypherpunks

3) I’ve put in my first 100 hours studying Bitcoin

It’s like so many traditionally educated Economists: having spent a decade or more trying to grasp the obscured complexities of a fiat monetary system…how can you possibly suspect that an entirely new system will be possible - which has no exemplary precedent in human history - simply because it WILL come about on a form of money that is orders of magnitude superior to any we’ve ever had?

This Bull run will have the "Cloud Citizen" / DAO play a notable role amoung the scams

Smart squirrel. Idc what they say about ya

5 year wave? Why do you think that? Cycles are 4 year long, we have about 2 years up now, not 5

5+!

nothing to do with bitcoin epochs; it comes from tradfi funding horizons.

It’s proof that there’s just too much money still out there.

Clowns crown themselves

i noticed you still heed the high priests of capital I despite your lower case jihad

ofc, I’m not a barbarian

principled