> how utterly insane it is that BTC, Bitcoin, was capped at 7 transactions per second. You know, the the this was crazy, like, in 2012, but the idea in 2024 that, like, you know, you have this a couple megabytes, every 10 minutes are produced on the Bitcoin network. It's it's multiple orders of magnitude off of from what what, is technologically possible right now without really, causing any decentralization problems. It just doesn't make any sense.
Discussion
> And, also, the the idea of, like, you know, trading IOUs Bitcoin and and trading second layers where you're just, like, you have to go through a company, this is just reinventing the banking system. This is not an this isn't an improvement. This is this doesn't make the world a freer place.
Cashu?
> I think there's an amazing version of Bitcoin, and there's, like, a dystopian version of Bitcoin. And it's very much on the table whether or not we keep stepping towards the dystopian version of Bitcoin.
> When we we have 10,000 cryptocurrencies to choose from, Why what is it about Bitcoin that that is special or unique? Like, cryptocurrency itself was an awesome, technological breakthrough and, like, maybe something some other project, maybe Monero or some of these privacy coins will make the world a freer place and and, you know, people can use them as money and commerce, that would be cool. But I don't see evidence that that's actually Bitcoin. I see evidence---. You know, there's a great quote. I forget who who who said it, who coined it.
>
> It's a phrase that, the purpose of a system is what it does. I don't know if you've heard this. It's an excellent, excellent way, like systems analytical thinking, about how the world works. "The purpose of a system is what it does." And by being honest, and about about Bitcoin over the last decade or 14 years, what is the purpose of Bitcoin? Chatter aside, theory aside, I think the purpose of Bitcoin is to appreciate in price. And maybe that's good, especially good for early adopters. But if that's all that's going on, I think that's, that's maybe not this amazing invention that it could have been.
> But, yeah, I think I think, Peter [Schiff] would probably like, I think he, I'm sure he would love the contents of the book because it just destroys a bunch of the myths that are so commonly repeated in Bitcoin, and there's, like, very few people who are, you know, challenging the narrative anymore.
>
> People are so invested. They have so much to gain from repeating this narrative of buy it and hodl it. And the price goes up, the price goes up. You're gonna make money. That it there's not a strong incentive to be like, maybe this narrative is not grounded in reality anymore.