What I’ve found after a number of years in this “space” is that most self-reported “toxic bitcoin maximalists”: 1) usually have no idea how bitcoin even works beyond being able to operate signing device—while calling it a “wallet” and having no idea why I would put that word in quotation marks; and 2) have a genuinely trivial understanding of economics.
They are meme aggregators.
They’ve spent some time identifying a constellation of talking points (which are often incompatible with each other) and then deploy those talking points to larp as a cypherpunk.
I think I’m in a bad mood.
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Replies (11)
No, you're just being truthful.
"Toxic Bitcoin Maximalists" should at a minimum push their listeners to run nodes. Otherwise they're larping. They become "Larping Bitcoin Maximalists"
Most of them don't know what a peer-to-peer network is. That's great for VIP ticket sales at conferences, but bad for the network. They only care about the fiat price, not p2p electronic cash.
Fiat price is not everything—not the most important thing at the end of the day—but it is essential. Without NGU, there is no point.
If you look at it from the other direction, i.e., an entire successful civilization running on bitcoin as the money, it would have an enormously high fiat number as an exchange rate with fiat civilizations, even if the bitcoin civilization never itself had a fiat money.
This makes me think of the following: what is the Bitcoin economy? As of this moment, not much it seems. Can we think of a set of goods and services which are only provided by means of an exchange with sats?
It's probably very hard to end up with lower volatility unless there is something society demands which can only be obtained via Bitcoin (same principles allowing the dollar not to lose value overnight after 1971, i.e. you need it to buy oil)
Correct
NGU is not the end all, be all. However, it is necessary to drive adoption.
Bitcoin is money, and everyone needs to realize it
Was away from Nostr for a long while… was surprised to see so little BIP110 debate going around.
Statistics. 95% of the population just can't understand things, but they can use twitter. We used to tell them to STFU and finish digging that hole, but now we tune in to their podcast and listen to their retard drivel for 3 hours. It has nothing to do with your mood, other than you don't feel like lying for someone's emotional benefit today.
Here's how I see it. Bitcoin has a fixed supply. Obviously we all know this, but 95% of the world has no idea,( I think I heard Troy Cross say this on a pod)
NGU is Bitcoin demand. Most of that demand is driven by big fiat number dreams. The Johnny come lately's in the bull markets mostly think Bitcoin is something like a stock. They are not here for p2p cash. They want more slavery cash held by a trusted third party.
NGD happens because the slave cash maxis masters tell them their Bitcoin is dead again. Like all good slave masters, they don't teach their slaves how to read. Show one of these people Clark Moody's Dashboard and you'll know what I mean. The slave money maxis lose faith and buy fiat. It says In God We Trust after all. They trust that. They don't trust bitcoin, but they also don't know how to verify it.
When we exchange dates for goods and services, we also don't trust Bitcoin, but we verify it..We don't need to send out data to a slavemaster to buy stuff. It stays within the Bitcoin economy and out of the fiat economy where people only buy fiat. Only buying fiat can only reduce the demand for bitcoin.
Demanding Bitcoin for real stuff decreases the demand for Fiat. Decreased fiat demand is how we win. Buy Bitcoin is the wrong approach in my opinion. We need to boycott fiat as much as possible.
We are in state of transition between fiat and digital
Money therefore we still rely a bit to fiat .
If finance authority serious want to digitalised economy by 2030 then they should
Come out already with plan .
This transition period how many percent economy financed by fiat and how many percent by crypto.
I am in the side that digital currency is not only Bitcoin . I would say every country simplified and make their own digital national currency .
Not necessary Bitcoin .
The future is seriously unknown.