"You cannot build a monetary system by treating the money as too sacred to use" Well actually, this is the plan for bitcoin, and it's the right plan It's the most ambitious plan It's the only way for bitcoin to be the world's MoE We make an asset that nobody wants to spend and which can be transferred easily and quickly with final settlement (Lightning) If you think that contradicts the "world's MoE" goal, think about the game theory some more

I have thought about the game theory. The strategy you describe is to make Bitcoin the world’s only medium of exchange by persuading everyone to hoard it until competing currencies disappear. That allows those who accumulated Bitcoin first to gain from the labour of everyone who must acquire it later. That is not replacing the banking establishment. It is becoming the banking establishment. If the aim is freedom, Bitcoin should allow individuals to retain the fruits of their labour without others extracting from them. That requires genuine monetary competition. The credible risk that people may direct their labour and savings into another currency disciplines every monetary system and its largest holders. Refusing to use Bitcoin leaves its price dependent on speculative demand rather than anchored in a circular economy. That makes it fragile. Banks and large traders are structurally advantaged in fragile speculative markets through their size, superior knowledge of liquidity flows and ability to trade in both directions. Users are told only to buy and hold, making their behaviour predictable. Information and size asymmetry reward the banking establishment and burn users. That is greater fool theory, not squad wealth. Squad wealth comes from people freely allocating the fruits of their labour among competing currencies and collectively shifting economic power away from institutions that exploit them. It requires continuing competition and the freedom to exit. A Bitcoin monopoly would not free users from the establishment. It would merely create a new one.

I don't want to be rude, but: Bitcoin is following the game theory that I described. That's a good thing. That's why we had to win the blocksize war Do you expect your long piece to convince me to ignore Bitcoin's incentives?

I'm saying you have been psyoped. Those incentives stall out and don't have anything of substance sustaining them except a banking cartel that captured bitcoin and drove its price up to kill off competition to their monopoly. In 2 more 10x runs the market cap is greater than the total global wealth. At that point any increase is verifyably overpriced. If we suddenly adopt the lightning network and use it as MoE, we will be reliant on custodial banks as the limited block size will prevent sovereign utxo ownership. We will use bitcoin, but pay fees to bankers not miners. What drives adoption? Wjen the enshittification of Bitcoin becomes apparent and it becomes a tool to entrench the establishment, what maintains its price? At that point any economic activity outside of bitcoin detracts from its value. The value proposition of any competing and functioning currency has a lot more potential and the house of cards fails. Only totalitarian regulation can save it and force servitude on everyone. This dystopian future can be avoided if Bitcoin develops steadily acros multiple projects backed by genuine economic value.