I think Bitcoin has a serious risk of being destroyed from within by hubris. Bitcoin represents the majority of portfolio, and every single time over multiple cycles that I began to doubt it, it slaps me upside the head and reminds me who is the boss. After so many times of that happening, you began to assume that Bitcoin will always go up no matter what, that it is unstoppable. The cult of maximalism reenforces this bias wholeheartedly. Why would you ever sell?

That's exactly why I am so worried. Everyone in Bitcoin assumes it will always be number 1 simply because it has always been number 1.

That is dangerous thinking. Keeping Bitcoin as number 1 will take work, not ossification. You can't have a community that is scared of changing a single line of code and expect to stay on top. Don't forget that Bitcoin, at the end of the day, is software. Software adapts and changes or it becomes obsolete.

Bitcoin has the best change of replacing the extractive and flawed fiat monetary system, but only if the community doesn't fuck it up....

I will continue to stack sats, but the Bitcoin community needs to do some serious soul searching and remember why we are here in the first place.

#bitcoin