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Is a long note, and a later on he differentiate fundamentals in monetary and sovereignty ones.. "4) A more accurate statement would be: - BTC's monetary design fundamentals (fixed supply, issuance) are intact and robust. - BTC's institutional acceptability as a paperized SoV is increasing. - BTC's sovereignty fundamentals (MoE freedom, censorship resistance, self-custody share, uncaptured infra) are under sustained attack and not obviously "stronger every day". - Influencers mostly cannot say this because their incentives, audience, and identities punish that level of honesty." This aside, I don't share the same opinions, but also believe it is worth a read as it does have valid point to discuss and address.. My opinion is we shall not think the path to bitcoin being what we would like to be is an easy one, or that we already are there. We are in "they flight you" phase and attacks will come stronger and stronger and from more sides, so always worth it considering where from those can arrive, without being naive. So in short, IMHO, fundamentals are strong, but some of us is getting softer, the new ones are being born in an easier time where the State does regulamentions and tries to co-opt it instead of fighting it saying it's a scam or terroristic tool.