What they're saying:
- the banking system is strong
- people trust the banking system
- #Bitcoin is on a path to obscurity
What they want us to say:
For BTC adoption, we need a narrative shift from "stack sats" to "spend and replace sats".
I can't count the number of times I've said "I'm never drinking again".
Agreed. Let's be realistic about this, if he's right things are going to be really bad.
The only problem with the Bitcoin community is there's more book recommendations than time. I suppose that's a good problem to have...
Doesn't every widely-accepted idea start off as a radical idea first? Good luck with your discussion!
That was a total stab in the dark...
King's Quest 5
Sometimes you get advice that sticks with you from the most unexpected places. One for me is:
"Don't ignore it, that's what everyone else is doing."
The background:
A little over 10 years ago when we were buying a house for our growing family, it was not uncommon that the real estate listings did not include pictures. My realtor had said not to ignore these listings because that's what every other buyer is doing. We saw a listing that did not have pictures, but its description matched what we wanted. So we told the realtor we wanted to see the house. We saw it and fell in love with it, made an offer, which was accepted, and we still happily call it home.
I've used this advice since when it has come to things like Bitcoin, automation, and more recently things like ChatGPT/OpenAI.
Central Banker road map:
1) Artificially force monetary growth by imposing a "controlled" inflation rate.
2) Panic when the market responds organically causing a collapse to occur.
3) Pat yourself on the back and say "you did the best you could".
Beautiful cover. Can't wait to read it and share with friends and family.
Every time something like this happens, I wonder "is this the tipping point?"
Let's all remember that for too long, banks have been allowed to internalize their rewards and externalize their risks. The beautiful thing about Bitcoin is how those who self-custody accept personal responsibility and own both the rewards and the risks. We're a special breed.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.”
Satoshi Nakamoto
Haven't used ChatGPT for that personally, but it sure sounds a lot better than browsing forums, adapting the forum code/pseudo-code and troubleshooting individual snippets of code.
And it's frightening how few people seem to know or be bothered by this.
Weird. I just got it. Someone else zapped me the other day and said it appeared to have failed, but it went through just fine on my end, I'll have to dig in to what's going on. Thanks bro!