Hard truth for bitcoiners: "New product innovations are close, but not quite there yet ... things still feel insular"
Full article: https://www.coindesk.com/consensus-magazine/2024/01/26/why-is-everyone-suddenly-bearish-about-bitcoin/
Discussion
Didn’t read. Let them stay bearish. They’ll be back next cycle with regret.
Ofc they will be back, but that doesn't mean that they don't have any valid criticisms that we could learn from and focus on.
The lightning network needs to escape the #bitcoin echo chamber. It could do that now with custodial #lightning providers who manage #liquidity, #channels and so forth, but it risks another Mt. Gox or FTX.
A related problem is that people don't want to accept bitcoin, even the same people who want to buy it. Similarly, most people don't want to spend their bitcoin. The rhetoric is nearly always about stacking sats, not earning, not using, just #hodl them.
Sorry, but this article is the same trash that “journalism” is always pushing. Seriously, how do we have such short memories?
This literally happens after *every* “big event.” And the shallow reactionary journalists come out and say the *same* drivel. every. single. time.
Anyone who is bearish about BTC is just incapable of making their own assessment and uses the price as the only proxy for value. They will only ever get it after everyone else gives them permission.