With normies storing coins (IOU) on CEX you are back to fractional reserves and price suppression. All that because Bitcoin is not dangerous enough for states to delist it from exchanges. As someone who entered Bitcoin I'm 2010 I know your position very well, but you never bothered updating the talking points of the early days to the reality in 2026. Back then before Bitcoin got the NGU CEX KYC approval we knew what we were fighting for and because we discussed all the privacy enhacjng tech (that later only got implemented in Monero) we rightfully believed Bitcoin could become fungible money. You miss two points. Privacy is a prerequisite for mathematical (not by decree) fungibility which is an essential money property. And you seem to miss that (private) property depends on the state to be enforced. So the only private property you really can enforce yourself needs privacy at its base. Back in the day we also believed that Bitcoins pseudonimity is enough because we didn't anticipate regulatory acceptance. The state is not fighting transparent Bitcoin though. It doesn't care if there is another store of value next to Gold that is easily taxable. It fights Monero, Bitcoin's earlier destiny the OGs that came before you signed up for. Get back on track. Now I don't say there is no value in Bitcoin as is. It's just that you are riding a dead horse. Bitcoin can't become private cash as envisioned by cypherpunks, not with LN and neither wiith cashu. Enjoy what works for you, but don't build your Bitcoin maximalism on the weak thesis that everybody has the same needs as you. Personally as an OG Bitcoiner I'd make a fool of myself or even endangering my family if I wouldn't store the majority of my holdings in Monero and only spend in the most private ways possible. You are either naive (paying the bill later) highly technical (for never fucking up coinjoins in the future nor the trade partners of yours) or you missed out on the biggest gains despite being early. Afterall there were only two kinds of Bitcoiners early on. Cypherpunks that understood everything that is wrong with fiat and the privacy erosions in society and those that needed some Bitcoin to buy drugs on the Silkroad a use case that is now fully dominated by Monero because Monero means save transactions.

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Some food for thought.
npub1ah3a...l76e
With normies storing coins (IOU) on CEX you are back to fractional reserves and price suppression. All that because Bitcoin is not dangerous enough for states to delist it from exchanges. As someone who entered Bitcoin I'm 2010 I know your position very well, but you never bothered updating the talking points of the early days to the reality in 2026. Back then before Bitcoin got the NGU CEX KYC approval we knew what we were fighting for and because we discussed all the privacy enhacjng tech (that later only got implemented in Monero) we rightfully believed Bitcoin could become fungible money. You miss two points. Privacy is a prerequisite for mathematical (not by decree) fungibility which is an essential money property. And you seem to miss that (private) property depends on the state to be enforced. So the only private property you really can enforce yourself needs privacy at its base. Back in the day we also believed that Bitcoins pseudonimity is enough because we didn't anticipate regulatory acceptance. The state is not fighting transparent Bitcoin though. It doesn't care if there is another store of value next to Gold that is easily taxable. It fights Monero, Bitcoin's earlier destiny the OGs that came before you signed up for. Get back on track. Now I don't say there is no value in Bitcoin as is. It's just that you are riding a dead horse. Bitcoin can't become private cash as envisioned by cypherpunks, not with LN and neither wiith cashu. Enjoy what works for you, but don't build your Bitcoin maximalism on the weak thesis that everybody has the same needs as you. Personally as an OG Bitcoiner I'd make a fool of myself or even endangering my family if I wouldn't store the majority of my holdings in Monero and only spend in the most private ways possible. You are either naive (paying the bill later) highly technical (for never fucking up coinjoins in the future nor the trade partners of yours) or you missed out on the biggest gains despite being early. Afterall there were only two kinds of Bitcoiners early on. Cypherpunks that understood everything that is wrong with fiat and the privacy erosions in society and those that needed some Bitcoin to buy drugs on the Silkroad a use case that is now fully dominated by Monero because Monero means save transactions.
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I appreciate your effort to educate me. “safe transactions” not “save transactions” right? Let’s check back in a few years from now. Hopefully we’re both right. Monero is still at 2010 prices. Didn’t porn and video games decide who won between blue ray and dvd? You probably know the story better than I do.
Thanks, yes. Already corrected it. I do think porn would choose Monero. That said the next revolution will be about weeding out weak states of mind that get easily seduced by it. And one can find arguments why Bitcoin (transparent confrontation) or Monero (neutrality) are better at it or maybe you need both.
Hi anon, good to meet someone on Nostr who's been in bitcoin even longer than me, even if you have turned to the dark side. I arrived in 2011, but was already an AnCap libertarian seasteading advocate by then so the concept of removing money from the state was extremely important to me and always will be. Anyway, you said a lot I wanted to respond to, so forgive me for going full reddit-mode on you here: > "With normies storing coins (IOU) on CEX you are back to fractional reserves and price suppression." Correction: Those fools who store their coins on a CEX are back to fractional reserves. Me, not so much. Exchanges have never held any of my net worth for more than a minute. > "As someone who entered Bitcoin I'm 2010 I know your position very well, but you never bothered updating the talking points of the early days to the reality in 2026." Why should I? My mission to remove money from state has never changed, and it's absolutely still on track to accomplish that. Just because Wall Street got a chunck of coins (that includes saylor) doesn't mean that they can change bitcoin's mission nor even eventual fate. We could never become money for the whole world without them, now could we? > "Back then before Bitcoin got the NGU CEX KYC approval we knew what we were fighting for..." Many still do. Those who don't will be forced to when they're staring down the double barrel of a mandated CBDC. Tons of countries already have one of those up for debate now. > "because we discussed all the privacy enhacjng tech (that later only got implemented in Monero) we rightfully believed Bitcoin could become fungible money." This was never my concern, because on-chain fungibility is already better than the fiat currencies' fungibility it is replacing. That's already an improvement, without removing money from the state yet. Meanwhile, we can always build more privacy on layer two, adding fungibility to the overall system. That'll only improve over time. You jumped ship too early bro. > "And you seem to miss that (private) property depends on the state to be enforced." Here's where we'll likely disagree fundamentally. I believe your private property is simply another form of your time. It certainly is exchangeable for your time. Do you need the state to enforce your time? Therefore, owning property has always been a basic human right and no government has the "right" to do anything with it. So taxation is theft, governments are illegitimate, and you are free to protect your private property by any means necessary. Sadly, we're ruled by violent gangs who don't agree, so that's why I'm a seasteading proponent... We'll build our own land and leave out the government this time. > "So the only private property you really can enforce yourself needs privacy at its base." I'm certainly not arguing that privacy is not needed. It just isn't needed on the bottom layer because that's a really freaking hard thing to do without breaking several things that make bitcoin awesome. Like accountability. We know right now that there will never be more than 21m BTC. Can you prove how much monero is in circulation? How many there will be in 1000 years from now? > "Get back on track.....Monero, Bitcoin's earlier destiny the OGs that came before you signed up for." Now hold on a damn minute. When I arrived, I spent half a year reading every last post of the bitcointalk forum, the cypherpunks mailing list, and lots of the sourceforge.net forum too. Of course plenty of people talked about wanting more privacy, but to say that "monero is Bitcoin's earlier destiny the OGs that came before" is imagining things. Satoshi took plenty of precautions (like telling wikileaks to back off) to stop the community from making an enemy of the state. I don't think he or Hal or Martii or many devs at all back then would have suggested making bitcoin's base layer totally private, at least not once they realized what true privacy does to the 21m limit. And even if they did, maybe they hadn't thought it thru far enough? Keeping bitcoin from being inflated is far more important to bitcoiners nowadays than privacy on the bottom layer is. > "Bitcoin can't become private cash as envisioned by cypherpunks, not with LN and neither wiith cashu." Then something else. Layer 46 then. Maybe one day monero will become a Bitcoin sidechain. The point is that Bitcoin _IS_ more private than dollars on the base layer already, and it is far more private still on the layers above that. Seriously, why do you have to make "perfect" the enemy of "Good enough?" > "don't build your Bitcoin maximalism on the weak thesis that everybody has the same needs as you." I have built it on the inarguable thesis that if we must seperate money from state. Those who try to argue it simply don't understand how bad the state is and are basically children playing with fire, & desperately need our guidance. > "Personally as an OG Bitcoiner I'd make a fool of myself or even endangering my family if I wouldn't store the majority of my holdings in Monero and only spend in the most private ways possible." Whoa.... I hope that was a mistype! Are you really keeping the majority of your family's net worth in a coin that has lost 50% to BTC since it was launched, and that you can never know how many exist? Because it's more private? I'll take the higher security, acceptance, and performance of BTC over privacy alone, anyday of the week and twice on billpay day. > "You are either naive (paying the bill later) highly technical (for never fucking up coinjoins in the future nor the trade partners of yours) or you missed out on the biggest gains despite being early." None of the above. I've been 100% in bitcoin since 2016, Zero fiat held that whole time, and I simply sell BTC each month from a bunch of hardware wallets through CashApp or Strike or a similar service to immediately pay off the credit card bills that I used to purchase everything with, including rent. (Bilt rocks) I basically use Citi, BofA, Wells Fargo, and others as my 2nd layer, and in a bitcoin-only world, it would be the exact same setup. A line of credit is just too useful to go without. (Not to mention all the miles/points/freebies they give. Not trivial. My bilt points alone bought me airfare already.)