guys, this is serious. once you make it so, that #bitcoin payments between ecash mints and other custodial wallets can be routed via a "p2p" credit networks instead of lightning, it's game over! back in 2017-2018 the cashies kept saying this is how "lightning" will end up. a network routing IOUs. some even went as far as to claim HTLCs are IOUs. but there is a huge difference. and it's a very important difference. you accept this tiny level of convenience instead of resisting it at all cost, and you literally reinvent the fiat system with modern fictional reserve banking overnight. if this is how bitcoin scales, it offers nothing new to the world. all the "revolution" is undone. some people that push these may mean well. but they are still undoing satoshi's work.

man, i was looking forward to see if John's views finally evolved. but they just further devolved into a shameful display of coping about the "necessity of trust". the entire point of #bitcoin, it's most important value proposition was that it does not require trusted third parties. that you can be selective about entering into a trust relationship on your terms when you see fit and not forced to do so for the most basic utilities. the other common mistake John seems to still subscribe to is thinking the "ponzi" works without the freedom tech at scale. it does not. paper bitcoin undoes the scarcity. institutionalized bitcoin has no cap on the supply. "your journey ends here insert coin to try again!" trust and credit sure work. and scale spectacularly. they are also copes and clear capitulation from the mission. they also only work until they don't which usually the lesson every nth generation has to learn and then the world forgets. @John Carvalho @Vlad, Bitcoin Takeover Podcast

i just wanted to watch a video you fucking retard!

i wrote this on dec 21, 2024: "it's a massive strawman to insinuate we are saying "without covenants it's all lost". no that's actually complete horsesshit. without changing anything tho, it is going be be a custodial clusterfuck. there are many paths forward. covenants are probably the least controversial rn. if you think giving up on improving and scaling bitcoin and cucking out to some neo-banking abomination is a viable option, i got nothing to tell you except that you are an idiot. the thing about covenants is, they are common ground between different camps that are still aligned on bitcoin. those that think we should increase capacity and those that think that's premature both grudgingly agree that covenants provide them with better tools for their apps." sadly i think we are out of time. thanks to all the "what's the rush!?" idiots, that wasted 7 fucking years we flew under the radar and could have used to build ramparts of freedom tech, against the tide of regulation and paper bitcoin that is coming now. life goes on, the dream will live on, even after bitcoin. but i don't think i will ever be able to forgive you assholes.

listen american friends, a word of advice: when you see dehumanizing the "others" in public speech being normalized, it's time to pack your bags, you might need to bounce fast. that's how it always starts... after that everything goes to shit real fast. might be nothing this time, but people are saying "something has changed" and "they feel it in the air". maybe don't ignore your instincts. idk.