Replying to Avatar HoloKat

IF Saylor is actively discouraging development, my theory on that is that he probably fears the "bitcoin as currency" narrative so much because that invites a shitstorm from US govt. and he probably thinks it will set back "bitcoin is an asset" narrative in some way that meaningfully hurts his investment.

Stopping development might be beneficial to him as it halts any potentially regulatory challenging developments. To him, bitcoin is good as it is and it doesn't need any new development. He's probably thinking "leave it the f alone!".

Just a theory, hinging on a big IF. I don't know what the reality is.
ed
ede3d957... 1y ago

He's correct though. Bitcoin is a great asset. But it will never be everyday currency. And it doesn't need to be.

Also Saylor: "Maybe you need a Monero", if you want a currency that is not USD.

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HoloKat 1y ago

Ah yes I wish I had this certainty. NEVER!! What else can you tell us?

ed
ede3d957... 1y ago

It's lack of fungibility.

ed
ede3d957... 1y ago

It's funny that some of us Bitcoin OGs are even in the weird position of explaining to Bitcoin newcomers (in my definition all those who were on boarded in the KYC era from 2012-2024) what makes money actual money. And why Bitcoin in its current form is great, but not money.

You simply can not leave out one essential function of money like fungibility and claim to solve the problem on an abstracted layer as a derivative with different tradeoffs.

Bitcoin is an asset. A commodity. Might even become the reserve asset.

P.S. Those conversations with Bitcoiners make me almost feel the same as explaining to Normie's, why credit (all fiat except cash) is not money.