Almost all the chatter on crypto twitter is about meme coins now.

Basically the narratives ran out and reached their final, most transparent form.

🚨THIS MARKET IS CRAZY🚨

The S&P 500 is down 1.0% in December but most of the sectors have been in a carnage:

Energy -10.7%

Materials -9.9%

Real Estate -8.9%

Utilities -7.6%

Industrial -7.0%

Healthcare -5.3%

Financials -4.6%

Consumer Staples -4.0%

Tech holds this market.

Just one lifetime ago in the United States, our grandfathers were able to buy a home, buy a car, have 3-4 children, keep their wife at home, take annual vacations, and then retire… all on one middle-class salary.

🇺🇸

🫤

*Operation Nasdaq Penetration*

Bitcoin using MSTR as a Trojan Horse to invade the #Nasdaq 100 index… effectively making all passive index holders indirect #bitcoin hodlers.

Diabolical.

This is a community note proposed to Anita's post, and I think we need to talk about it.

The past years have brought a swarm of new people into Bitcoin, and these posts and comments show how hard we failed them.

First off, to address the majority of commenters in Anita's post that also like to spam my posts with the same nonsense (and then tell me that I'm stupid because I have a vagina (?)), in the Bitcoin network, you do not get to vote for anything. Your node allows you to control the rules that your node runs by. That's it. That's all it does.

There is no voting in Bitcoin.

Second, miners run profit oriented businesses. This means that miners follow the rules adapted by the nodes with the majority of economic activity.

In the event of a hard fork, it does not matter how many nodes you run – if the majority of nodes generating profit for miners apply new rules, those are the rules the miners will follow.

Bitcoin positions do matter to the extent that they generate economic activity.

I understand that the voting analogy can be helpful, so here's one that you can make: in Bitcoin, you vote with your feet.

If a large exchange was to signal for, say, a Bitcoin compliance fork, you can threaten to pull your money out – to the extent that the exchange still allows you to.

Lastly, what Anita is referring to in her post is Bitcoin's social layer.

Bitcoin is run by humans, and humans can be influenced.

Humans can be influenced by setting positive incentives, such as gov subsidies or developer grants, or by applying violence, such as threatening to throw the people running and building Bitcoin in jail.

This is a reality of human nature and should not be controversial - How to prevent such actors from influencing open source development is often discussed in the open source community.

If this topic interests you, look up Operation Orchestra at FOSDEM.

Let's remember that the memes are not always your friends.

Influencers spent the past few years so focused on "hyperbitcoinization" that half-truths about how Bitcoin works are now taken at face value.

Because so many "Bitcoiners" now genuinely believe things like "Bitcoin can't be censored," "one node equals one vote", "Bitcoin is for enemies," or "everything is good for Bitcoin," we have created a culture that believes paying attention to the creation of an adversarial environment is unnecessary.

These memes are mental shortcuts. They are true to some extent, but do not reflect reality.

In the case of my posts, next to the obviously snarky comments here and there, the majority of commenters are not posting these things with bad intentions - they genuinely think that this is how Bitcoin works.

If you are an educator, influencer, or in any other way have the capacity to better explain these things to people, _please_ take the time to do so.

The memes are fine to get people interested, but we all need to do a better job at combating these misconceptions. The future of BTC could depend on it.

The sentiment among Bitcoiners about :microstrategy: MicroStrategy and :saylor: Michael Saylor is mixed but largely positive. Many admire his bold moves and commitment to #Bitcoin, seeing him as a visionary strengthening the market and inspiring confidence among HODLers.

However, some express concerns about corporate dominance, potential market manipulation, and the risks of leveraged investments. Criticism is often attributed to envy or fear of change, while defenders argue Saylor's actions benefit the Bitcoin ecosystem overall.

What are your thoughts on MicroStrategy's approach and the reactions it has garnered?

:reward: Share > Like > Comment = ⚡️21

:topreward: Top Comment = ⚡️500

(For 24 hrs Only)

Vendors will not prefer it without demand. The logic in this post is not sound.

Beaver Moon 2024

"Full Moon for November is named after beavers because, at this time, they become particularly active in building their winter dams in preparation for the cold season. The beaver is mainly nocturnal, so they work under the light of the Full Moon."

Mulvad or Proton vpn? #asknostr