Please specify the fundamental flaws in Bitcoin that you believe exist, and we can continue the discussion.

If you understand the underlying mechanism of "emerging", you will be extremely optimistic about Bitcoin and its long-term future, and you will know why you are optimistic, and you will know which type of things to focus on in order to reap the fruits of optimism.

Would BIS Chief Agustin Carstens need to come out and declare victory over Bitcoin if it had not had a significant impact on the real world, and had not caused a major impact on the foundation of modern society, which is the credit currency system? Do you need to declare victory over a tiger or an ant?

Similarly, the fact that the critical point cannot be accurately predicted beforehand doesn't matter. The critical point belongs to a kind of unpredictability, but once it occurs, it will have a significant impact. Just like the impact that Bitcoin has already had on modern society and the impact that Nostr is currently having, you can feel the difference between them and other products.

If further extrapolated, the so-called "emergence" phenomenon is essentially the free combination and connection of multiple components, and in the process of exploration and development, the sudden acceleration of development that forms. As long as it is open enough, there are enough components, the learning feedback time is long enough, it will inevitably break through the critical point and form an accelerated development phenomenon. However, the specific critical point cannot be accurately predicted in advance.

A rough explanation of "phase transition" in regards to insight can be described as follows: At the beginning, each component is relatively weak, so the progress of each component contributes very little to the overall progress. However, as the components develop, other components become more useful, meaning the overall gradient (the speed of learning) increases non-linearly, which is the true mechanism of insight (phase transition).

I tend to propose a less mainstream view of history, which is that human history has suddenly undergone a "phase transition", meaning that one or more artificial survival elements like sunshine, air, and water have suddenly appeared. Like Bitcoin and Nostr are such products, extremely simple and fundamental, and will never be replaced. Note that I use the word "forever".

If you think that Bitcoin will not be iterated, will continue to prosper, then you can naturally ignore any short-term fluctuations and hold it for the long-term, even indefinitely. This is essentially what only "Only Bitcoin" people can do.

If you think that Bitcoin will eventually disappear from your lifetime, like other technology products, then what you should do is to find a suitable high point to sell or be affected by various FOMOs and FUDs to speculate on frequent buying and selling.

This historical perspective based on the life cycle of various past products is, in my opinion, the reason why most people cannot hold Bitcoin and think that it is too expensive at any time, that its development has come to an end, and then choose to invest in various Bitcoin killers or other projects and altcoins.

However, by understanding Bitcoin from the perspective of freedom, it becomes easy to comprehend its significance to the world. In fact, many people do not grasp this meaning and instead see Bitcoin as a product of technological progress, an intermediary that holds a specific weight at a specific time, and will eventually be replaced by updated products as technology continues to advance.

The ultimate aim of Bitcoin is freedom. Unless one is an old-timer like Charlie Munger, it is clear in the community of Bitcoin holders that the deeper the understanding of freedom, the easier it is to have faith in such a simple protocol or product. It is so simple yet it solves such a huge problem, a problem that was considered unaddressable in human history before.

"Faith" is a sacred word that makes it difficult for anyone to easily have faith in anything. Only when something points to some ultimate meaning, or has a profound impact and change on the scale of the universe or human history, could you potentially have faith in it.

“Only Bitcoin” represents a strong faith in Bitcoin and what Bitcoin stands for, and the belief that other cryptocurrencies are worthless.

“Only investing in Bitcoin” represents a long-term investment belief in Bitcoin as the leader of the entire cryptocurrency market.

“Investing in Bitcoin and other cryptocurrencies" represents a diversified investment strategy that focuses on the overall performance of the market.

Sometimes I ponder the difference between "Only Bitcoin" versus only investing in Bitcoin, versus having a diversified portfolio that includes Bitcoin and other cryptocurrencies.

Since Damus was launched on the AppStore, Jack has not used Twitter again. Such steadfastness and purity is truly admirable.

Regardless of how one may view President Biden in other aspects, his speech in Warsaw, Poland can undoubtedly be considered legendary. 🇵🇱

Illiterates of the past: those who can't read.

Illiterates of the Internet age: those who can't differentiate the quality of information.

Illiterates of the ChatGPT era: those who can't prompt a good question.

LMAO!!!🤣🤣🤣