It's the same dilemma -- The protocol can be usurped by evolving ideas & technologies, like the "protocol" of telephone communications have been usurped by evolving ideas & technologies.
Login to reply
Replies (1)
Telephone communications could not be built upon, unlike the internet, and bitcoin.
Bitcoin performs the base layer function of storing and transferring value in a decentralised and secure manner perfectly, and that’s all it needs to do.
Privacy tech or faster transactions are already built on layer 2.
If theres any more technological innovations on money, it will be built upon the bitcoin stack.
If the innovation is not about money, it won’t compete with bitcoin.
Just like how any communications innovation, like Nostr, is built on top of the internet stack, instead of inventing a whole new protocol that competes with the internet.