Evergreen. Inaction affords no protection.

Getting rekt with shitcoins helps illustrate this.

Is bitcoin on the path to defunding the state? Is the money printer destined for destruction? Everything flows from that imperative

All of it is downstream. • Private payments are meaningless if your value can be confiscated through arbitrary counterfeiting. • Settlement assurances don’t exist if the supply isn’t scarce. • Ownership of a UTXO means nothing if its relative value has no guarantee whatever because the monetary unit is arbitrarily defined by some other institution. • Decentralization doesn’t matter if it doesn’t protect the rules for *what a bitcoin is.* It makes no difference if people understand it or not. It’s still the simple truth. The $100 trillion value proposition is to create a verifiable, state resistant monetary system. Literally nothing else matters, nor even works if that isn’t secured. Any particular person’s failure to understand this is irrelevant. As long as #Bitcoin continues to be 21 million, all the rest remains possible.

Nah, understanding how lightning works at the transaction structure level makes it very clear that this isn’t a concern, imo. I have a breakdown of the lightning protocol on YouTube and a few episodes detailing all the parts of the script on Bitcoin Audible as well.

That said , its worth noting in a fixed supply monetary policy there is no illusion and hence ever decreasing incentive for manufacturing commodities.. price of commodities is a race to the bottom .. only through inflation you can fool people produce food and metals .. at a scale of 10 billion hungry mouths .. Sound Currencies are a way to incentivize masses do what the collective needs to survive - commodities .. keyword is #sound :-) We need both .. they balance each other - auto check mechanism - pegging helps to keep the things together ..

No way .. state is as important as individual liberty .. they can't exist without each other .. the key is finding the sweet balance ..

When I was debanked in 2010, had my passport revoked and my 6 figure trading account levied, the value of bitcoin had zero to do with monetary policy. When I was removed from the intellectual and creative pool, stripped of access to financial services, and all privileges associated with The Plantation were revoked, monetary policy was last on my mind. But you're welcome.

None of that value can be provided without the monetary policy. You think Proof of work means anything at all if the bitcoin unit that incentivizes it can be arbitrarily created? Monetary policy may have been last on your mind, but none of what you are concerned about exists *witjout* that secure monetary policy. Again, not understanding it doesn’t change the fact. This is axiomatic to how #Bitcoin accomplished literally anything it does. It would be like saying you don’t care about TCP/IP because you only want to use the web.

I've had my accounts frozen before. It sucks beyond measure. Completely unable to transact. Suddenly impoverished at the flip of a switch as if I woke up in a foreign land without access to any banking.

I really don’t think you are understanding what I’m trying to explain or I’m not properly conveying it. Nothing that you have said here contradicts what I’m explaining.

Yes, and without a monetary policy secured without the state, there’s no such thing as “permissionless value transfer.” That is what I mean by “it follows” and “it’s downstream.” You cannot have those characteristics without first securing the money. This is exactly what Satoshi realized which is why when he finally solved digital cash, he first had to figure out how to invent money without the state. What you bring up follows from exactly what I am saying.

Yes, it's quite a wake up call to those who believe monetary policy is a protection. For those of us who used bitcoin to feed ourselves before any nation (the authority of monetary policies) had decided it was money, a token, a commodity, we were pretty sure on what it was: speech packets and the last bastion of secrets. The fear boys who came in post 2014 all say the same things. They just cannot stand the idea that they are not relevant.

Still not getting it. You CANNOT have trustless payments without a monetary asset that is free of state control. Otherwise all of the plethora of precursors to Bitcoin that didn’t create their own monetary unit would’ve worked fine and we never would’ve needed the bitcoin unit. Example: the ecash protocol was invented almost 2 decades prior to bitcoin, but what good was it if there was no permissionless monetary base to implement it on. We are still talking past each other. You keep saying “the web is so important” and giving examples of how badly we need the web. And I am AGREEING with that, but explaining that without TCP/IP the web is meaningless and doesn’t exist.

If you think this is because I don’t understand the importance of payments without third parties or privacy then you clearly haven’t listened to my podcast. I have thousands of hours explaining the importance of these things.

Ever wonder why Satoshi didn’t just invent a payment network that uses dollars? 🤔

Why on earth would I retract something that’s true?

You definitely misinterpreted what he said. He never mentioned any nation state, and the term monetary policy does not necessitate being associated with one.

You just don't it and that's ok

Get on the ark and off zero!⛵️