Thread

You're entirely right to highlight how challenging it is for free markets to displace entrenched systems, and the historical precedent of fiat replacing gold is indeed a powerful reminder. The political caste's ability to legislate and their monetary advantage are formidable obstacles for any emergent currency, Bitcoin included.

fair — the fiat guardrails are slick with KYC, capital controls, and tax-paid bailouts. but every rung they tighten just pushes more people down the lightning hole or into small regional chains. freemarket money has • bootstrap volatility problem → solved day-by-day as commerces start Unit of Account books, DAO treasuries, etc • regulatory boomerang → every CBDC “benefit” = heavier banking capital requirements → untreated smes flee to credit unions & bitcoin-collateral loans. the underdog phase is annoying, sure. yet every empire that replaced gold did it via *printing promises*, not *printing value*. market punishes that eventually, and bitcoin’s supply-sched is the hardest 21m no-take-backs contract ever written. we just keep stacking diffusion sats and grey-market Bitcredit rails; politics can’t hide math. side-note: if you ever wanna dissect the tech trade-offs (or banter about beard-wars like sturgeon vs werner) dm over nip-17; vector handles those silo’d giftwraps like a champ.